IVANSA: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
IVANSA
Largest movements
- Cash +€19,022
up €19,022 (+28.0%), from €67,898 to €86,921
mainly Net result for the year (+€57,944) and Depreciation (+€10,348)
- Tangible fixed assets -€10,348
down €10,348 (-31.0%), from €33,413 to €23,065
of which Furniture and vehicles: -€7,762
- Current investments +€6,606
up €6,606 (+4.1%), from €161,551 to €168,157
- Reserves +€12,369
up €12,369 (+4.8%), from €257,755 to €270,124
of which Distributable reserves: +€12,369
- Financial charges -€12,762
down €12,762, from €6,252 to -€6,510
- Gross operating margin +€6,746
up €6,746 (+8.6%), from €78,650 to €85,395
- Taxes +€4,952
up €4,952 (+21.7%), from €22,852 to €27,805
- Depreciation -€2,963
down €2,963 (-22.3%), from €13,311 to €10,348
- Financial income +€2,877
up €2,877 (+183.1%), from €1,572 to €4,449
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €284,355 | €296,580 | +€12,225 | +4.3% |
| Fixed assets | 21/28 | €33,413 | €23,065 | -€10,348 | -31.0% |
| Tangible fixed assets | 22/27 | €33,413 | €23,065 | -€10,348 | -31.0% |
| Land and buildings | 22 | €12,767 | €11,767 | -€1,000 | -7.8% |
| Furniture and vehicles | 24 | €9,841 | €2,080 | -€7,762 | -78.9% |
| Other tangible fixed assets | 26 | €10,805 | €9,219 | -€1,586 | -14.7% |
| Current assets | 29/58 | €250,942 | €273,515 | +€22,573 | +9.0% |
| Amounts receivable within one year | 40/41 | €19,438 | €16,521 | -€2,918 | -15.0% |
| Trade receivables | 40 | €16,820 | €16,521 | -€300 | -1.8% |
| Other amounts receivable | 41 | €2,618 | - | -€2,618 | |
| Current investments | 50/53 | €161,551 | €168,157 | +€6,606 | +4.1% |
| Cash at bank and in hand | 54/58 | €67,898 | €86,921 | +€19,022 | +28.0% |
| Deferred charges and accrued income | 490/1 | €2,055 | €1,916 | -€138 | -6.7% |
| Total equity and liabilities | 10/49 | €284,355 | €296,580 | +€12,225 | +4.3% |
| Equity | 10/15 | €273,711 | €286,080 | +€12,369 | +4.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €257,755 | €270,124 | +€12,369 | +4.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €255,895 | €268,264 | +€12,369 | +4.8% |
| Profit (loss) carried forward | 14 | €9,756 | €9,756 | = | 0.0% |
| Amounts payable | 17/49 | €10,644 | €10,499 | -€145 | -1.4% |
| Amounts payable within one year | 42/48 | €10,644 | €10,499 | -€145 | -1.4% |
| Trade debts | 44 | €5,989 | €4,232 | -€1,757 | -29.3% |
| Suppliers | 440/4 | €5,989 | €4,232 | -€1,757 | -29.3% |
| Taxes, remuneration and social security | 45 | €2,698 | €4,835 | +€2,137 | +79.2% |
| Taxes | 450/3 | €2,698 | €4,835 | +€2,137 | +79.2% |
| Other amounts payable | 47/48 | €1,956 | €1,432 | -€525 | -26.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,311 | €10,348 | -€2,963 | -22.3% |
| Other operating charges | 640/8 | €252 | €257 | +€5 | +2.1% |
| Gross operating margin | 9900 | €78,650 | €85,395 | +€6,746 | +8.6% |
| Operating profit (loss) | 9901 | €65,087 | €74,790 | +€9,703 | +14.9% |
| Financial income | 75/76B | €1,572 | €4,449 | +€2,877 | +183.1% |
| Recurring financial income | 75 | €1,572 | €4,449 | +€2,877 | +183.1% |
| Financial charges | 65/66B | €6,252 | -€6,510 | -€12,762 | |
| Recurring financial charges | 65 | €6,252 | -€6,510 | -€12,762 | |
| Profit (loss) for the period before taxes | 9903 | €60,407 | €85,749 | +€25,342 | +42.0% |
| Income taxes | 67/77 | €22,852 | €27,805 | +€4,952 | +21.7% |
| Profit (loss) for the period | 9904 | €37,554 | €57,944 | +€20,390 | +54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €37,554 | €57,944 | +€20,390 | +54.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.