IVB: 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.
IVB
Largest movements
- Cash +€75,215
up €75,215 (+81.4%), from €92,446 to €167,662
mainly Net result for the year (+€57,275) and Other debts (+€30,325)
- Current investments -€25,000
down €25,000 (-9.6%), from €261,456 to €236,456
- Tangible fixed assets -€11,012
down €11,012 (-27.3%), from €40,329 to €29,317
of which Furniture and vehicles: -€11,385
- Other debts +€30,325
up €30,325 (+91.4%), from €33,170 to €63,495
- Reserves +€8,316
up €8,316 (+2.4%), from €350,573 to €358,889
- Gross operating margin -€1,951
down €1,951 (-2.1%), from €94,606 to €92,655
- Financial income -€1,941
down €1,941 (-68.2%), from €2,847 to €906
- Taxes -€962
down €962 (-4.2%), from €22,895 to €21,933
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 | €410,083 | €453,131 | +€43,048 | +10.5% |
| Fixed assets | 21/28 | €40,329 | €29,317 | -€11,012 | -27.3% |
| Tangible fixed assets | 22/27 | €40,329 | €29,317 | -€11,012 | -27.3% |
| Land and buildings | 22 | €1,776 | - | -€1,776 | |
| Plant, machinery and equipment | 23 | - | €803 | +€803 | |
| Furniture and vehicles | 24 | €38,554 | €27,168 | -€11,385 | -29.5% |
| Other tangible fixed assets | 26 | - | €1,346 | +€1,346 | |
| Current assets | 29/58 | €369,753 | €423,814 | +€54,061 | +14.6% |
| Amounts receivable within one year | 40/41 | €15,851 | €19,696 | +€3,846 | +24.3% |
| Trade receivables | 40 | €15,851 | €19,696 | +€3,846 | +24.3% |
| Current investments | 50/53 | €261,456 | €236,456 | -€25,000 | -9.6% |
| Cash at bank and in hand | 54/58 | €92,446 | €167,662 | +€75,215 | +81.4% |
| Total equity and liabilities | 10/49 | €410,083 | €453,131 | +€43,048 | +10.5% |
| Equity | 10/15 | €356,973 | €365,289 | +€8,316 | +2.3% |
| Contributions | 10/11 | €6,400 | €6,400 | = | 0.0% |
| Reserves | 13 | €350,573 | €358,889 | +€8,316 | +2.4% |
| Distributable reserves | 133 | €350,573 | €358,889 | +€8,316 | +2.4% |
| Amounts payable | 17/49 | €53,109 | €87,842 | +€34,733 | +65.4% |
| Amounts payable within one year | 42/48 | €53,109 | €87,842 | +€34,733 | +65.4% |
| Trade debts | 44 | €592 | €1,548 | +€957 | +162% |
| Suppliers | 440/4 | €592 | €1,548 | +€957 | +162% |
| Taxes, remuneration and social security | 45 | €19,348 | €22,799 | +€3,451 | +17.8% |
| Taxes | 450/3 | €19,348 | €22,799 | +€3,451 | +17.8% |
| Other amounts payable | 47/48 | €33,170 | €63,495 | +€30,325 | +91.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,482 | €13,588 | +€106 | +0.8% |
| Other operating charges | 640/8 | €647 | €668 | +€21 | +3.3% |
| Gross operating margin | 9900 | €94,606 | €92,655 | -€1,951 | -2.1% |
| Operating profit (loss) | 9901 | €80,477 | €78,399 | -€2,078 | -2.6% |
| Financial income | 75/76B | €2,847 | €906 | -€1,941 | -68.2% |
| Recurring financial income | 75 | €2,847 | €906 | -€1,941 | -68.2% |
| Financial charges | 65/66B | €70 | €97 | +€27 | +39.1% |
| Recurring financial charges | 65 | €70 | €97 | +€27 | +39.1% |
| Profit (loss) for the period before taxes | 9903 | €83,254 | €79,208 | -€4,046 | -4.9% |
| Income taxes | 67/77 | €22,895 | €21,933 | -€962 | -4.2% |
| Profit (loss) for the period | 9904 | €60,359 | €57,275 | -€3,084 | -5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €60,359 | €57,275 | -€3,084 | -5.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 17 October 2026 via checked.be.