IVELCO: 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.
IVELCO
Largest movements
- Tangible fixed assets -€13,793
down €13,793 (-3.3%), from €413,541 to €399,748
- Reserves -€22,781
down €22,781 (-100.0%), from €22,781 to €0
- Debts after one year +€17,416
up €17,416 (+4.9%), from €356,552 to €373,968
of which Other amounts payable: +€28,597
- Profit (loss) carried forward -€4,355
down €4,355, from €0 to -€4,355
- Depreciation -€27,356
down €27,356 (-53.2%), from €51,399 to €24,043
- Gross operating margin +€14,348
up €14,348, from -€4,866 to €9,482
- Financial charges +€6,856
up €6,856 (+206.6%), from €3,318 to €10,174
- Other operating charges -€2,771
down €2,771 (-53.6%), from €5,171 to €2,400
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 | €415,047 | €402,295 | -€12,752 | -3.1% |
| Fixed assets | 21/28 | €413,541 | €399,748 | -€13,793 | -3.3% |
| Tangible fixed assets | 22/27 | €413,541 | €399,748 | -€13,793 | -3.3% |
| Land and buildings | 22 | €413,541 | €399,748 | -€13,793 | -3.3% |
| Current assets | 29/58 | €1,506 | €2,547 | +€1,041 | +69.1% |
| Cash at bank and in hand | 54/58 | €1,506 | €2,547 | +€1,041 | +69.1% |
| Total equity and liabilities | 10/49 | €415,047 | €402,295 | -€12,752 | -3.1% |
| Equity | 10/15 | €42,781 | €15,646 | -€27,136 | -63.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €22,781 | €0 | -€22,781 | -100.0% |
| Distributable reserves | 133 | €22,781 | €0 | -€22,781 | -100.0% |
| Profit (loss) carried forward | 14 | €0 | -€4,355 | -€4,355 | |
| Amounts payable | 17/49 | €372,266 | €386,649 | +€14,384 | +3.9% |
| Amounts payable after more than one year | 17 | €356,552 | €373,968 | +€17,416 | +4.9% |
| Financial debts | 170/4 | €286,532 | €275,351 | -€11,181 | -3.9% |
| Other amounts payable | 178/9 | €70,020 | €98,617 | +€28,597 | +40.8% |
| Amounts payable within one year | 42/48 | €15,714 | €12,681 | -€3,033 | -19.3% |
| Current portion of amounts payable after more than one year | 42 | €15,714 | €12,681 | -€3,033 | -19.3% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,399 | €24,043 | -€27,356 | -53.2% |
| Other operating charges | 640/8 | €5,171 | €2,400 | -€2,771 | -53.6% |
| Gross operating margin | 9900 | -€4,866 | €9,482 | +€14,348 | |
| Operating profit (loss) | 9901 | -€61,436 | -€16,962 | +€44,474 | +72.4% |
| Financial charges | 65/66B | €3,318 | €10,174 | +€6,856 | +206.6% |
| Recurring financial charges | 65 | €3,318 | €10,174 | +€6,856 | +206.6% |
| Profit (loss) for the period before taxes | 9903 | -€64,754 | -€27,136 | +€37,618 | +58.1% |
| Profit (loss) for the period | 9904 | -€64,754 | -€27,136 | +€37,618 | +58.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,754 | -€27,136 | +€37,618 | +58.1% |
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 2 October 2026 via checked.be.