IVECA TECHNICS: 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.
What changed
IVECA TECHNICS
NACE 43.211, General electrical installation work
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€44,165
2024 · €72,588-€28,423
Equity
€2.7m
2024 · €2.7m+€44,165
Cash
€168,836
2024 · €324,894-€156,058
Balance sheet total
€5.8m
2024 · €5.4m+€371,539
Largest movements
Assets
- Receivables within one year +€736,300
up €736,300 (+22.8%), from €3.2m to €4.0m
of which Trade receivables: +€667,437
- Stocks and contracts -€277,827
down €277,827 (-25.8%), from €1.1m to €797,139
of which Contracts in progress: -€276,735
- Cash -€156,058
down €156,058 (-48.0%), from €324,894 to €168,836
mainly Receivables within one year (-€736,300) and Investment in fixed assets (net) (-€140,404)
- Current investments +€59,000
new in 2025: €59,000
Equity and liabilities
- Trade debts +€427,657
up €427,657 (+53.6%), from €797,636 to €1.2m
- Reserves +€58,704
up €58,704 (+8.5%), from €688,316 to €747,020
of which Non-distributable reserves: +€59,000
Income statement
- Turnover +€938,423
up €938,423 (+7.4%), from €12.7m to €13.7m
- Goods and materials +€797,630
up €797,630 (+11.6%), from €6.9m to €7.7m
of which Purchases: +€829,173
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.
Result 2024
€72,588
Turnover
+€938,423
Other operating income
-€10,096
Goods and materials
-€797,630
Services and other goods
-€99,380
Staff costs
+€27,531
Depreciation
+€14,610
Write-downs
-€86,770
Other operating charges
+€95,785
Other operating items
-€145,821
Financial income
-€552
Financial charges
+€25,967
Taxes
+€9,510
Result 2025
€44,165
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.
From operations
+€43,347
Investment
-€199,404
Financing
€0
Cash 2024
€324,894
From operations (derived)
+€43,347
Net result for the year
+€44,165
Depreciation
+€156,082
Stocks and contracts
+€277,827
Receivables within one year
-€736,300
Deferred charges and accrued income
-€25,800
Trade debts
+€427,657
Tax, wage and social debts
-€49,317
Other debts
-€50,338
Accrued charges and deferred income
-€628
Investment (derived)
-€199,404
Investment in fixed assets (net)
-€140,404
Current investments
-€59,000
Cash 2025
€168,836
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,427,332 | €5,798,871 | +€371,539 | +6.8% |
| Fixed assets | 21/28 | €739,673 | €723,996 | -€15,678 | -2.1% |
| Tangible fixed assets | 22/27 | €576,626 | €560,802 | -€15,823 | -2.7% |
| Land and buildings | 22 | €45,655 | €38,892 | -€6,764 | -14.8% |
| Plant, machinery and equipment | 23 | €28,870 | €23,168 | -€5,702 | -19.8% |
| Furniture and vehicles | 24 | €502,100 | €498,743 | -€3,358 | -0.7% |
| Financial fixed assets | 28 | €163,048 | €163,194 | +€146 | +0.1% |
| Participating interests | 280 | €0 | €0 | = | |
| Other financial fixed assets | 284/8 | €163,048 | €163,194 | +€146 | +0.1% |
| Shares | 284 | €15,275 | €15,275 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €147,773 | €147,919 | +€146 | +0.1% |
| Current assets | 29/58 | €4,687,659 | €5,074,875 | +€387,216 | +8.3% |
| Stocks and contracts in progress | 3 | €1,074,966 | €797,139 | -€277,827 | -25.8% |
| Stocks | 30/36 | €143,922 | €142,831 | -€1,092 | -0.8% |
| Raw materials and consumables | 30/31 | €39,339 | €37,233 | -€2,106 | -5.4% |
| Goods purchased for resale | 34 | €104,584 | €105,598 | +€1,014 | +1.0% |
| Contracts in progress | 37 | €931,043 | €654,308 | -€276,735 | -29.7% |
| Amounts receivable within one year | 40/41 | €3,235,648 | €3,971,949 | +€736,300 | +22.8% |
| Trade receivables | 40 | €1,111,658 | €1,779,096 | +€667,437 | +60.0% |
| Other amounts receivable | 41 | €2,123,990 | €2,192,853 | +€68,863 | +3.2% |
| Current investments | 50/53 | - | €59,000 | +€59,000 | |
| Own shares | 50 | - | €59,000 | +€59,000 | |
| Cash at bank and in hand | 54/58 | €324,894 | €168,836 | -€156,058 | -48.0% |
| Deferred charges and accrued income | 490/1 | €52,151 | €77,952 | +€25,800 | +49.5% |
| Total equity and liabilities | 10/49 | €5,427,332 | €5,798,871 | +€371,539 | +6.8% |
| Equity | 10/15 | €2,690,512 | €2,734,677 | +€44,165 | +1.6% |
| Contributions | 10/11 | €1,980,199 | €1,980,199 | = | 0.0% |
| Capital | 10 | €1,980,199 | €1,980,199 | = | 0.0% |
| Issued capital | 100 | €1,980,199 | €1,980,199 | = | 0.0% |
| Reserves | 13 | €688,316 | €747,020 | +€58,704 | +8.5% |
| Non-distributable reserves | 130/1 | €198,020 | €257,020 | +€59,000 | +29.8% |
| Legal reserve | 130 | €198,020 | €198,020 | = | 0.0% |
| Own shares acquired | 1312 | - | €59,000 | +€59,000 | |
| Distributable reserves | 133 | €490,296 | €490,000 | -€296 | -0.1% |
| Profit (loss) carried forward | 14 | €21,997 | €7,458 | -€14,538 | -66.1% |
| Amounts payable | 17/49 | €2,736,820 | €3,064,194 | +€327,373 | +12.0% |
| Amounts payable after more than one year | 17 | €24,000 | €24,000 | = | 0.0% |
| Financial debts | 170/4 | €24,000 | €24,000 | = | 0.0% |
| Subordinated loans | 170 | €24,000 | €24,000 | = | 0.0% |
| Credit institutions | 173 | €0 | €0 | = | |
| Amounts payable within one year | 42/48 | €2,710,483 | €3,038,484 | +€328,001 | +12.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | €0 | = | |
| Financial debts | 43 | €875,000 | €875,000 | = | 0.0% |
| Credit institutions | 430/8 | €875,000 | €875,000 | = | 0.0% |
| Trade debts | 44 | €797,636 | €1,225,293 | +€427,657 | +53.6% |
| Suppliers | 440/4 | €797,636 | €1,225,293 | +€427,657 | +53.6% |
| Advances received on contracts in progress | 46 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €322,366 | €273,049 | -€49,317 | -15.3% |
| Taxes | 450/3 | €62,275 | €54,258 | -€8,017 | -12.9% |
| Remuneration and social security | 454/9 | €260,091 | €218,791 | -€41,300 | -15.9% |
| Other amounts payable | 47/48 | €715,481 | €665,143 | -€50,338 | -7.0% |
| Accrued charges and deferred income | 492/3 | €2,337 | €1,709 | -€628 | -26.9% |
| Operating income | 70/76A | €12,777,645 | €13,582,235 | +€804,590 | +6.3% |
| Turnover | 70 | €12,733,622 | €13,672,046 | +€938,423 | +7.4% |
| Change in stocks of work in progress, finished goods and contracts in progress | 71 | -€144,511 | -€276,735 | -€132,224 | -91.5% |
| Other operating income | 74 | €183,998 | €173,902 | -€10,096 | -5.5% |
| Non-recurring operating income | 76A | €4,536 | €13,022 | +€8,486 | +187.1% |
| Operating charges | 60/66A | €12,635,310 | €13,503,248 | +€867,938 | +6.9% |
| Goods for resale, raw materials and consumables | 60 | €6,861,615 | €7,659,246 | +€797,630 | +11.6% |
| Purchases | 600/8 | €6,828,981 | €7,658,154 | +€829,173 | +12.1% |
| Change in stocks: decrease (increase) | 609 | €32,634 | €1,092 | -€31,542 | -96.7% |
| Services and other goods | 61 | €2,270,455 | €2,369,835 | +€99,380 | +4.4% |
| Remuneration, social security and pensions | 62 | €3,302,838 | €3,275,306 | -€27,531 | -0.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €170,692 | €156,082 | -€14,610 | -8.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€86,770 | - | +€86,770 | |
| Other operating charges | 640/8 | €116,481 | €20,696 | -€95,785 | -82.2% |
| Non-recurring operating charges | 66A | - | €22,083 | +€22,083 | |
| Operating profit (loss) | 9901 | €142,335 | €78,986 | -€63,348 | -44.5% |
| Financial income | 75/76B | €76,522 | €75,970 | -€552 | -0.7% |
| Recurring financial income | 75 | €76,522 | €75,970 | -€552 | -0.7% |
| Income from current assets | 751 | €76,522 | €75,959 | -€562 | -0.7% |
| Other financial income | 752/9 | €1 | €11 | +€10 | +1513.4% |
| Financial charges | 65/66B | €100,270 | €74,303 | -€25,967 | -25.9% |
| Recurring financial charges | 65 | €100,270 | €74,303 | -€25,967 | -25.9% |
| Debt charges | 650 | €85,651 | €60,008 | -€25,644 | -29.9% |
| Other financial charges | 652/9 | €14,619 | €14,295 | -€324 | -2.2% |
| Profit (loss) for the period before taxes | 9903 | €118,587 | €80,653 | -€37,933 | -32.0% |
| Income taxes | 67/77 | €45,998 | €36,488 | -€9,510 | -20.7% |
| Taxes | 670/3 | €47,069 | €36,488 | -€10,581 | -22.5% |
| Tax adjustments and reversals of tax provisions | 77 | €1,071 | - | -€1,071 | |
| Profit (loss) for the period | 9904 | €72,588 | €44,165 | -€28,423 | -39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €72,588 | €44,165 | -€28,423 | -39.2% |
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 30 September 2026 via checked.be.