Ivens Management: 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.
What changed
Ivens Management
NACE 64.210, Activities of holding companies
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€127,990
2024 · €438,949-€310,958
Equity
€5.6m
2024 · €5.7m-€87,010
Cash
€1.6m
2024 · €1.3m+€249,699
Balance sheet total
€11.8m
2024 · €11.2m+€605,400
Largest movements
Assets
- Receivables within one year +€385,046
up €385,046 (+9.3%), from €4.2m to €4.5m
of which Trade receivables: +€324,120
- Cash +€249,699
up €249,699 (+18.8%), from €1.3m to €1.6m
mainly Other debts (+€492,394) and Trade debts (+€160,684)
Equity and liabilities
- Other debts +€492,394
up €492,394 (+9.5%), from €5.2m to €5.7m
- Trade debts +€160,684
up €160,684 (+651%), from €24,678 to €185,362
Income statement
- Financial income -€434,000
no longer reported in 2025 (was €434,000)
of which Financial income: -€434,000
- Turnover +€160,000
up €160,000 (+27.7%), from €578,143 to €738,143
- Services and other goods +€159,823
up €159,823 (+42.3%), from €377,784 to €537,607
- Taxes -€122,032
down €122,032 (-70.4%), from €173,229 to €51,197
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
€438,949
Turnover
+€160,000
Services and other goods
-€159,823
Staff costs
-€262
Depreciation
-€3,423
Other operating charges
+€4,334
Financial income
-€434,000
Financial charges
+€183
Taxes
+€122,032
Result 2025
€127,990
raises the resultlowers the result
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.
From operations
+€478,975
Investment
€0
Financing
-€229,277
Cash 2024
€1.3m
From operations (derived)
+€478,975
Net result for the year
+€127,990
Depreciation
+€11,786
Receivables within one year
-€385,046
Deferred charges and accrued income
+€17,558
Trade debts
+€160,684
Tax, wage and social debts
+€48,003
Other debts
+€492,394
Accrued charges and deferred income
+€5,605
Financing
-€229,277
Debts after one year
-€14,867
Current portion of long-term debt
+€590
Contributions, distributions and other
-€215,000
Cash 2025
€1.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €11,154,937 | €11,760,337 | +€605,400 | +5.4% |
| Fixed assets | 21/28 | €5,623,781 | €5,611,995 | -€11,786 | -0.2% |
| Tangible fixed assets | 22/27 | €50,565 | €38,780 | -€11,786 | -23.3% |
| Furniture and vehicles | 24 | €50,565 | €38,780 | -€11,786 | -23.3% |
| Financial fixed assets | 28 | €5,573,215 | €5,573,215 | = | 0.0% |
| Affiliated companies | 280/1 | €5,573,215 | €5,573,215 | = | 0.0% |
| Participating interests | 280 | €5,573,215 | €5,573,215 | = | 0.0% |
| Current assets | 29/58 | €5,531,157 | €6,148,342 | +€617,186 | +11.2% |
| Amounts receivable within one year | 40/41 | €4,152,442 | €4,537,487 | +€385,046 | +9.3% |
| Trade receivables | 40 | - | €324,120 | +€324,120 | |
| Other amounts receivable | 41 | €4,152,442 | €4,213,368 | +€60,926 | +1.5% |
| Cash at bank and in hand | 54/58 | €1,327,114 | €1,576,813 | +€249,699 | +18.8% |
| Deferred charges and accrued income | 490/1 | €51,601 | €34,042 | -€17,558 | -34.0% |
| Total equity and liabilities | 10/49 | €11,154,937 | €11,760,337 | +€605,400 | +5.4% |
| Equity | 10/15 | €5,696,131 | €5,609,122 | -€87,010 | -1.5% |
| Contributions | 10/11 | €79,345 | €79,345 | = | 0.0% |
| Reserves | 13 | €5,616,787 | €5,529,777 | -€87,010 | -1.5% |
| Non-distributable reserves | 130/1 | €270,642 | €270,642 | = | 0.0% |
| Reserves not available under the articles | 1311 | €270,642 | €270,642 | = | 0.0% |
| Distributable reserves | 133 | €5,346,145 | €5,259,135 | -€87,010 | -1.6% |
| Amounts payable | 17/49 | €5,458,806 | €6,151,216 | +€692,410 | +12.7% |
| Amounts payable after more than one year | 17 | €34,317 | €19,450 | -€14,867 | -43.3% |
| Financial debts | 170/4 | €34,317 | €19,450 | -€14,867 | -43.3% |
| Leasing and similar obligations | 172 | €34,317 | €19,450 | -€14,867 | -43.3% |
| Amounts payable within one year | 42/48 | €5,424,489 | €6,126,160 | +€701,671 | +12.9% |
| Current portion of amounts payable after more than one year | 42 | €14,277 | €14,867 | +€590 | +4.1% |
| Trade debts | 44 | €24,678 | €185,362 | +€160,684 | +651% |
| Suppliers | 440/4 | €24,678 | €185,362 | +€160,684 | +651% |
| Taxes, remuneration and social security | 45 | €176,230 | €224,233 | +€48,003 | +27.2% |
| Taxes | 450/3 | €176,230 | €224,233 | +€48,003 | +27.2% |
| Other amounts payable | 47/48 | €5,209,304 | €5,701,699 | +€492,394 | +9.5% |
| Accrued charges and deferred income | 492/3 | - | €5,605 | +€5,605 | |
| Operating income | 70/76A | €578,143 | €738,143 | +€160,000 | +27.7% |
| Turnover | 70 | €578,143 | €738,143 | +€160,000 | +27.7% |
| Operating charges | 60/66A | €397,976 | €557,150 | +€159,174 | +40.0% |
| Services and other goods | 61 | €377,784 | €537,607 | +€159,823 | +42.3% |
| Remuneration, social security and pensions | 62 | -€262 | €0 | +€262 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,363 | €11,786 | +€3,423 | +40.9% |
| Other operating charges | 640/8 | €12,090 | €7,757 | -€4,334 | -35.8% |
| Operating profit (loss) | 9901 | €180,167 | €180,993 | +€826 | +0.5% |
| Financial income | 75/76B | €434,000 | - | -€434,000 | |
| Recurring financial income | 75 | €434,000 | - | -€434,000 | |
| Non-recurring financial income | 76B | €434,000 | - | -€434,000 | |
| Financial charges | 65/66B | €1,989 | €1,806 | -€183 | -9.2% |
| Recurring financial charges | 65 | €1,989 | €1,806 | -€183 | -9.2% |
| Debt charges | 650 | €1,688 | €1,806 | +€118 | +7.0% |
| Other financial charges | 652/9 | €301 | - | -€301 | |
| Profit (loss) for the period before taxes | 9903 | €612,177 | €179,187 | -€432,990 | -70.7% |
| Income taxes | 67/77 | €173,229 | €51,197 | -€122,032 | -70.4% |
| Taxes | 670/3 | €173,229 | €51,197 | -€122,032 | -70.4% |
| Profit (loss) for the period | 9904 | €438,949 | €127,990 | -€310,958 | -70.8% |
| Profit (loss) for the period to be appropriated | 9905 | €438,949 | €127,990 | -€310,958 | -70.8% |
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 20 October 2026 via checked.be.