IVEMAR: 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
IVEMAR
NACE 52.100, Warehousing and storage
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€3.2m
2024 · -€2.0m-€1.3m
Equity
-€4.8m
2024 · -€1.6m-€3.2m
Cash
€521,876
2024 · €258,914+€262,963
Balance sheet total
€5.3m
2024 · €5.2m+€36,155
Largest movements
Assets
- Tangible fixed assets -€280,742
down €280,742 (-10.4%), from €2.7m to €2.4m
of which Leasing and similar rights: -€291,871
- Cash +€262,963
up €262,963 (+101.6%), from €258,914 to €521,876
mainly Other debts (+€3.5m) and Depreciation (+€900,731)
- Receivables within one year -€113,585
down €113,585 (-5.7%), from €2.0m to €1.9m
of which Other amounts receivable: -€69,346
- Intangible fixed assets +€98,567
up €98,567 (+238.8%), from €41,270 to €139,837
- Deferred charges and accrued income +€68,952
up €68,952 (+25.6%), from €269,224 to €338,176
Equity and liabilities
- Other debts +€3.5m
up €3.5m (+121.3%), from €2.8m to €6.3m
- Profit (loss) carried forward -€3.2m
down €3.2m (-128.5%), from -€2.5m to -€5.7m
- Debts after one year -€290,659
down €290,659 (-22.7%), from €1.3m to €990,723
- Trade debts +€182,844
up €182,844 (+12.1%), from €1.5m to €1.7m
- Current portion of long-term debt -€154,634
down €154,634 (-19.6%), from €787,091 to €632,458
Income statement
- Turnover -€6.9m
no longer reported in 2025 (was €6.9m)
- Services and other goods -€5.1m
no longer reported in 2025 (was €5.1m)
- Gross operating margin +€477,729
new in 2025: €477,729
- Goods and materials -€456,831
no longer reported in 2025 (was €456,831)
- Other operating income -€122,570
no longer reported in 2025 (was €122,570)
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
-€2.0m
Turnover
-€6.9m
Other operating income
-€122,570
Goods and materials
+€456,831
Services and other goods
+€5.1m
Staff costs
+€5,823
Depreciation
+€75,965
Write-downs
+€58,479
Other operating charges
-€59,539
Other operating items
+€242,287
Financial income
-€1
Financial charges
-€68,225
Taxes
+€9,348
Result 2025
-€3.2m
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
+€1.4m
Investment
-€718,556
Financing
-€445,292
Cash 2024
€258,914
From operations (derived)
+€1.4m
Net result for the year
-€3.2m
Depreciation
+€900,731
Receivables within one year
+€113,585
Deferred charges and accrued income
-€68,952
Trade debts
+€182,844
Tax, wage and social debts
+€53,861
Other debts
+€3.5m
Investment (derived)
-€718,556
Investment in fixed assets (net)
-€718,556
Financing
-€445,292
Debts after one year
-€290,659
Current portion of long-term debt
-€154,634
Cash 2025
€521,876
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,248,465 | €5,284,620 | +€36,155 | +0.7% |
| Fixed assets | 21/28 | €2,733,212 | €2,551,038 | -€182,174 | -6.7% |
| Intangible fixed assets | 21 | €41,270 | €139,837 | +€98,567 | +238.8% |
| Tangible fixed assets | 22/27 | €2,689,943 | €2,409,201 | -€280,742 | -10.4% |
| Plant, machinery and equipment | 23 | €2,966 | €7,048 | +€4,082 | +137.6% |
| Furniture and vehicles | 24 | €195,060 | €173,223 | -€21,837 | -11.2% |
| Leasing and similar rights | 25 | €1,846,958 | €1,555,087 | -€291,871 | -15.8% |
| Other tangible fixed assets | 26 | €623,464 | €673,843 | +€50,380 | +8.1% |
| Assets under construction and advance payments | 27 | €21,495 | €0 | -€21,495 | -100.0% |
| Financial fixed assets | 28 | €2,000 | €2,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €2,000 | - | -€2,000 | |
| Amounts receivable and cash guarantees | 285/8 | €2,000 | - | -€2,000 | |
| Current assets | 29/58 | €2,515,252 | €2,733,582 | +€218,330 | +8.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €1,987,115 | €1,873,530 | -€113,585 | -5.7% |
| Trade receivables | 40 | €1,709,496 | €1,665,258 | -€44,238 | -2.6% |
| Other amounts receivable | 41 | €277,619 | €208,272 | -€69,346 | -25.0% |
| Cash at bank and in hand | 54/58 | €258,914 | €521,876 | +€262,963 | +101.6% |
| Deferred charges and accrued income | 490/1 | €269,224 | €338,176 | +€68,952 | +25.6% |
| Total equity and liabilities | 10/49 | €5,248,465 | €5,284,620 | +€36,155 | +0.7% |
| Equity | 10/15 | -€1,553,787 | -€4,759,044 | -€3.2m | -206.3% |
| Contributions | 10/11 | €64,500 | €64,500 | = | 0.0% |
| Reserves | 13 | €876,591 | €876,591 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,450 | €6,450 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,450 | €6,450 | = | 0.0% |
| Tax-exempt reserves | 132 | €168,300 | €168,300 | = | 0.0% |
| Distributable reserves | 133 | €701,841 | €701,841 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,494,878 | -€5,700,135 | -€3.2m | -128.5% |
| Amounts payable | 17/49 | €6,802,251 | €10,043,664 | +€3.2m | +47.7% |
| Amounts payable after more than one year | 17 | €1,281,381 | €990,723 | -€290,659 | -22.7% |
| Financial debts | 170/4 | €1,281,381 | €990,723 | -€290,659 | -22.7% |
| Leasing and similar obligations | 172 | €1,105,642 | - | -€1.1m | |
| Credit institutions | 173 | €175,739 | - | -€175,739 | |
| Amounts payable within one year | 42/48 | €5,520,870 | €9,052,941 | +€3.5m | +64.0% |
| Current portion of amounts payable after more than one year | 42 | €787,091 | €632,458 | -€154,634 | -19.6% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €1,505,222 | €1,688,066 | +€182,844 | +12.1% |
| Suppliers | 440/4 | €1,505,222 | €1,688,066 | +€182,844 | +12.1% |
| Taxes, remuneration and social security | 45 | €234,142 | €288,002 | +€53,861 | +23.0% |
| Taxes | 450/3 | €0 | €16,743 | +€16,743 | |
| Remuneration and social security | 454/9 | €234,142 | €271,260 | +€37,118 | +15.9% |
| Other amounts payable | 47/48 | €2,844,415 | €6,294,415 | +€3.5m | +121.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Operating income | 70/76A | €7,292,618 | - | -€7.3m | |
| Turnover | 70 | €6,927,190 | - | -€6.9m | |
| Other operating income | 74 | €122,570 | - | -€122,570 | |
| Non-recurring operating income | 76A | €242,858 | €163,295 | -€79,564 | -32.8% |
| Operating charges | 60/66A | €9,001,809 | - | -€9.0m | |
| Goods for resale, raw materials and consumables | 60 | €456,831 | - | -€456,831 | |
| Purchases | 600/8 | €456,831 | - | -€456,831 | |
| Services and other goods | 61 | €5,078,427 | - | -€5.1m | |
| Remuneration, social security and pensions | 62 | €2,403,618 | €2,397,795 | -€5,823 | -0.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €976,696 | €900,731 | -€75,965 | -7.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €17,630 | -€40,849 | -€58,479 | |
| Other operating charges | 640/8 | €61,191 | €120,730 | +€59,539 | +97.3% |
| Non-recurring operating charges | 66A | €7,416 | €0 | -€7,416 | -100.0% |
| Gross operating margin | 9900 | - | €477,729 | +€477,729 | |
| Operating profit (loss) | 9901 | -€1,709,191 | -€2,900,678 | -€1.2m | -69.7% |
| Financial income | 75/76B | €1 | €0 | -€1 | -96.7% |
| Recurring financial income | 75 | €1 | €0 | -€1 | -96.7% |
| Other financial income | 752/9 | €1 | - | -€1 | |
| Financial charges | 65/66B | €219,734 | €287,959 | +€68,225 | +31.0% |
| Recurring financial charges | 65 | €219,734 | €287,959 | +€68,225 | +31.0% |
| Debt charges | 650 | €200,557 | - | -€200,557 | |
| Other financial charges | 652/9 | €19,177 | - | -€19,177 | |
| Profit (loss) for the period before taxes | 9903 | -€1,928,924 | -€3,188,637 | -€1.3m | -65.3% |
| Income taxes | 67/77 | €25,969 | €16,620 | -€9,348 | -36.0% |
| Taxes | 670/3 | €45,615 | - | -€45,615 | |
| Tax adjustments and reversals of tax provisions | 77 | €19,646 | - | -€19,646 | |
| Profit (loss) for the period | 9904 | -€1,954,893 | -€3,205,257 | -€1.3m | -64.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,954,893 | -€3,205,257 | -€1.3m | -64.0% |
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 5 October 2026 via checked.be.