IVASCU: what changed
Two financial 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.
IVASCU
Largest movements
- Receivables within one year -€29,287
down €29,287 (-59.6%), from €49,169 to €19,882
of which Other amounts receivable: -€19,364
- Cash +€8,260
up €8,260 (+386%), from €2,137 to €10,397
mainly Receivables within one year (+€29,287) and Depreciation (+€14,707)
- Tangible fixed assets -€7,771
down €7,771 (-13.7%), from €56,664 to €48,893
of which Furniture and vehicles: -€12,759
- Profit (loss) carried forward -€20,972
new in 2025: -€20,972
- Debts after one year -€9,784
down €9,784 (-27.5%), from €35,548 to €25,764
- Tax, wage and social debts +€9,414
up €9,414 (+109%), from €8,656 to €18,070
of which Taxes: +€5,898
- Other debts -€5,088
no longer reported in 2025 (was €5,088)
- Trade debts -€2,542
down €2,542 (-31.7%), from €8,017 to €5,474
- Gross operating margin -€59,202
down €59,202, from €58,423 to -€779
- Taxes -€8,656
no longer reported in 2025 (was €8,656)
- Depreciation +€7,283
up €7,283 (+98.1%), from €7,423 to €14,707
- Financial charges +€813
up €813 (+55.4%), from €1,469 to €2,282
- Other operating charges +€799
up €799 (+33.2%), from €2,410 to €3,209
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.
Derived cash bridge
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 | €108,081 | €79,586 | -€28,495 | -26.4% |
| Fixed assets | 21/28 | €56,664 | €48,893 | -€7,771 | -13.7% |
| Tangible fixed assets | 22/27 | €56,664 | €48,893 | -€7,771 | -13.7% |
| Plant, machinery and equipment | 23 | €1,062 | €5,012 | +€3,950 | +372% |
| Furniture and vehicles | 24 | €55,601 | €42,843 | -€12,759 | -22.9% |
| Other tangible fixed assets | 26 | - | €1,038 | +€1,038 | |
| Current assets | 29/58 | €51,417 | €30,694 | -€20,724 | -40.3% |
| Amounts receivable within one year | 40/41 | €49,169 | €19,882 | -€29,287 | -59.6% |
| Trade receivables | 40 | €26,824 | €16,901 | -€9,923 | -37.0% |
| Other amounts receivable | 41 | €22,345 | €2,981 | -€19,364 | -86.7% |
| Cash at bank and in hand | 54/58 | €2,137 | €10,397 | +€8,260 | +386% |
| Deferred charges and accrued income | 490/1 | €111 | €415 | +€304 | +274% |
| Total equity and liabilities | 10/49 | €108,081 | €79,586 | -€28,495 | -26.4% |
| Equity | 10/15 | €41,467 | €20,494 | -€20,972 | -50.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €38,467 | €38,467 | = | 0.0% |
| Distributable reserves | 133 | €38,467 | €38,467 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€20,972 | -€20,972 | |
| Amounts payable | 17/49 | €66,614 | €59,092 | -€7,522 | -11.3% |
| Amounts payable after more than one year | 17 | €35,548 | €25,764 | -€9,784 | -27.5% |
| Financial debts | 170/4 | €35,548 | €25,764 | -€9,784 | -27.5% |
| Amounts payable within one year | 42/48 | €31,067 | €33,328 | +€2,261 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €9,307 | €9,784 | +€477 | +5.1% |
| Trade debts | 44 | €8,017 | €5,474 | -€2,542 | -31.7% |
| Suppliers | 440/4 | €8,017 | €5,474 | -€2,542 | -31.7% |
| Taxes, remuneration and social security | 45 | €8,656 | €18,070 | +€9,414 | +109% |
| Taxes | 450/3 | €8,656 | €14,553 | +€5,898 | +68.1% |
| Remuneration and social security | 454/9 | - | €3,517 | +€3,517 | |
| Other amounts payable | 47/48 | €5,088 | - | -€5,088 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,423 | €14,707 | +€7,283 | +98.1% |
| Other operating charges | 640/8 | €2,410 | €3,209 | +€799 | +33.2% |
| Gross operating margin | 9900 | €58,423 | -€779 | -€59,202 | |
| Operating profit (loss) | 9901 | €48,590 | -€18,694 | -€67,285 | |
| Financial income | 75/76B | €1 | €4 | +€3 | +281% |
| Recurring financial income | 75 | €1 | €4 | +€3 | +281% |
| Financial charges | 65/66B | €1,469 | €2,282 | +€813 | +55.4% |
| Recurring financial charges | 65 | €1,469 | €2,282 | +€813 | +55.4% |
| Profit (loss) for the period before taxes | 9903 | €47,122 | -€20,972 | -€68,095 | |
| Income taxes | 67/77 | €8,656 | - | -€8,656 | |
| Profit (loss) for the period | 9904 | €38,467 | -€20,972 | -€59,439 | |
| Profit (loss) for the period to be appropriated | 9905 | €38,467 | -€20,972 | -€59,439 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.