IVEA: 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.
IVEA
Largest movements
- Tangible fixed assets -€32,105
down €32,105 (-3.7%), from €864,333 to €832,228
of which Land and buildings: -€30,574
- Cash -€20,204
down €20,204 (-42.0%), from €48,145 to €27,941
mainly Debts after one year (-€35,000) and Net result for the year (-€21,515)
- Current investments -€18,388
down €18,388 (-14.4%), from €128,136 to €109,748
- Debts after one year -€35,000
down €35,000 (-10.8%), from €322,676 to €287,676
of which Financial debts: -€35,000
- Reserves -€15,802
down €15,802 (-4.2%), from €377,447 to €361,645
of which Tax-exempt reserves: -€15,802
- Other debts -€11,900
down €11,900 (-11.1%), from €106,923 to €95,023
- Other operating charges +€6,606
up €6,606 (+61.6%), from €10,722 to €17,329
- Taxes -€2,163
down €2,163 (-76.8%), from €2,815 to €652
- Financial charges -€1,856
down €1,856 (-33.2%), from €5,598 to €3,742
- Gross operating margin -€1,283
down €1,283 (-4.8%), from €26,533 to €25,251
- Depreciation -€875
down €875 (-2.7%), from €32,673 to €31,798
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 | €1,054,880 | €984,183 | -€70,697 | -6.7% |
| Fixed assets | 21/28 | €864,333 | €832,228 | -€32,105 | -3.7% |
| Tangible fixed assets | 22/27 | €864,333 | €832,228 | -€32,105 | -3.7% |
| Land and buildings | 22 | €862,351 | €831,777 | -€30,574 | -3.5% |
| Furniture and vehicles | 24 | €1,983 | €451 | -€1,532 | -77.3% |
| Current assets | 29/58 | €190,547 | €151,955 | -€38,592 | -20.3% |
| Amounts receivable within one year | 40/41 | €14,266 | €14,266 | = | 0.0% |
| Trade receivables | 40 | €10,739 | €10,739 | = | 0.0% |
| Other amounts receivable | 41 | €3,527 | €3,527 | = | 0.0% |
| Current investments | 50/53 | €128,136 | €109,748 | -€18,388 | -14.4% |
| Cash at bank and in hand | 54/58 | €48,145 | €27,941 | -€20,204 | -42.0% |
| Total equity and liabilities | 10/49 | €1,054,880 | €984,183 | -€70,697 | -6.7% |
| Equity | 10/15 | €443,305 | €421,790 | -€21,515 | -4.9% |
| Contributions | 10/11 | €206,010 | €206,010 | = | 0.0% |
| Revaluation surpluses | 12 | €85,364 | €85,364 | = | 0.0% |
| Reserves | 13 | €377,447 | €361,645 | -€15,802 | -4.2% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €346,977 | €331,175 | -€15,802 | -4.6% |
| Distributable reserves | 133 | €28,470 | €28,470 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€225,516 | -€231,229 | -€5,713 | -2.5% |
| Provisions and deferred taxes | 16 | €145,748 | €139,110 | -€6,638 | -4.6% |
| Deferred taxes | 168 | €145,748 | €139,110 | -€6,638 | -4.6% |
| Amounts payable | 17/49 | €465,828 | €423,283 | -€42,545 | -9.1% |
| Amounts payable after more than one year | 17 | €322,676 | €287,676 | -€35,000 | -10.8% |
| Financial debts | 170/4 | €317,426 | €282,426 | -€35,000 | -11.0% |
| Other amounts payable | 178/9 | €5,250 | €5,250 | = | 0.0% |
| Amounts payable within one year | 42/48 | €143,151 | €135,607 | -€7,545 | -5.3% |
| Current portion of amounts payable after more than one year | 42 | €30,856 | €35,000 | +€4,144 | +13.4% |
| Trade debts | 44 | €2,456 | €4,998 | +€2,542 | +103.5% |
| Suppliers | 440/4 | €2,456 | €4,998 | +€2,542 | +103.5% |
| Taxes, remuneration and social security | 45 | €2,916 | €585 | -€2,331 | -79.9% |
| Taxes | 450/3 | €2,916 | €585 | -€2,331 | -79.9% |
| Other amounts payable | 47/48 | €106,923 | €95,023 | -€11,900 | -11.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,673 | €31,798 | -€875 | -2.7% |
| Other operating charges | 640/8 | €10,722 | €17,329 | +€6,606 | +61.6% |
| Gross operating margin | 9900 | €26,533 | €25,251 | -€1,283 | -4.8% |
| Operating profit (loss) | 9901 | -€16,862 | -€23,876 | -€7,014 | -41.6% |
| Financial income | 75/76B | €71 | €117 | +€46 | +65.0% |
| Recurring financial income | 75 | €71 | €117 | +€46 | +65.0% |
| Financial charges | 65/66B | €5,598 | €3,742 | -€1,856 | -33.2% |
| Recurring financial charges | 65 | €5,598 | €3,742 | -€1,856 | -33.2% |
| Profit (loss) for the period before taxes | 9903 | -€22,389 | -€27,501 | -€5,112 | -22.8% |
| Transfer from deferred taxes | 780 | €6,638 | €6,638 | = | 0.0% |
| Income taxes | 67/77 | €2,815 | €652 | -€2,163 | -76.8% |
| Profit (loss) for the period | 9904 | -€18,566 | -€21,515 | -€2,949 | -15.9% |
| Transfer from tax-exempt reserves | 789 | €15,802 | €15,802 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,765 | -€5,713 | -€2,949 | -106.6% |
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 28 September 2026 via checked.be.