IVERKO: what changed
What changed
IVERKO
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
filed annual accounts (NBB)
Net result for the year
€119,319
2024 · €96,329+€22,990
Equity
€695,984
2024 · €660,263+€35,720
Cash
€46,796
2024 · €49,140-€2,344
Balance sheet total
€1.6m
2024 · €1.6m+€36,247
Largest movements
Assets
- Receivables within one year +€119,726
up €119,726 (+31.5%), from €380,471 to €500,196
of which Trade receivables: +€126,450
- Stocks and contracts -€57,377
down €57,377 (-16.0%), from €358,491 to €301,113
of which Stocks: -€72,786
- Tangible fixed assets -€23,757
down €23,757 (-3.0%), from €803,192 to €779,435
of which Land and buildings: -€28,847
Equity and liabilities
- Debts after one year -€56,710
down €56,710 (-14.7%), from €384,653 to €327,943
- Trade debts +€40,477
up €40,477 (+16.8%), from €241,362 to €281,840
- Reserves +€35,720
up €35,720 (+5.5%), from €654,063 to €689,784
of which Distributable reserves: +€35,720
Income statement
- Gross operating margin +€24,560
up €24,560 (+3.6%), from €691,450 to €716,010
- Taxes +€11,595
up €11,595 (+25.2%), from €45,955 to €57,550
- Staff costs -€10,865
down €10,865 (-2.6%), from €416,898 to €406,033
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€96,329
Gross operating margin
+€24,560
Staff costs
+€10,865
Depreciation
-€5,437
Provisions
-€2,011
Other operating charges
+€1,164
Financial income
+€3,192
Financial charges
+€2,252
Taxes
-€11,595
Result 2025
€119,319
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€222,679
Investment
-€79,941
Financing
-€145,082
Cash 2024
€49,140
From operations (derived)
+€222,679
Net result for the year
+€119,319
Depreciation
+€103,699
Stocks and contracts
+€57,377
Receivables within one year
-€119,726
Provisions
+€13,930
Trade debts
+€40,477
Tax, wage and social debts
+€10,023
Other debts
-€2,104
Accrued charges and deferred income
-€316
Investment (derived)
-€79,941
Investment in fixed assets (net)
-€79,941
Financing
-€145,082
Debts after one year
-€56,710
Current portion of long-term debt
-€4,772
Contributions, distributions and other
-€83,599
Cash 2025
€46,796
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,591,444 | €1,627,691 | +€36,247 | +2.3% |
| Fixed assets | 21/28 | €803,342 | €779,585 | -€23,757 | -3.0% |
| Tangible fixed assets | 22/27 | €803,192 | €779,435 | -€23,757 | -3.0% |
| Land and buildings | 22 | €361,332 | €332,485 | -€28,847 | -8.0% |
| Plant, machinery and equipment | 23 | €173,204 | €160,330 | -€12,875 | -7.4% |
| Furniture and vehicles | 24 | €22,999 | €54,396 | +€31,397 | +137% |
| Other tangible fixed assets | 26 | €245,657 | €232,225 | -€13,432 | -5.5% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €788,101 | €848,106 | +€60,004 | +7.6% |
| Stocks and contracts in progress | 3 | €358,491 | €301,113 | -€57,377 | -16.0% |
| Stocks | 30/36 | €306,471 | €233,685 | -€72,786 | -23.7% |
| Contracts in progress | 37 | €52,020 | €67,428 | +€15,408 | +29.6% |
| Amounts receivable within one year | 40/41 | €380,471 | €500,196 | +€119,726 | +31.5% |
| Trade receivables | 40 | €329,314 | €455,764 | +€126,450 | +38.4% |
| Other amounts receivable | 41 | €51,156 | €44,433 | -€6,724 | -13.1% |
| Cash at bank and in hand | 54/58 | €49,140 | €46,796 | -€2,344 | -4.8% |
| Total equity and liabilities | 10/49 | €1,591,444 | €1,627,691 | +€36,247 | +2.3% |
| Equity | 10/15 | €660,263 | €695,984 | +€35,720 | +5.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €654,063 | €689,784 | +€35,720 | +5.5% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €40,689 | €40,689 | = | 0.0% |
| Distributable reserves | 133 | €613,374 | €649,094 | +€35,720 | +5.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €146,720 | €160,650 | +€13,930 | +9.5% |
| Provisions for liabilities and charges | 160/5 | €146,720 | €160,650 | +€13,930 | +9.5% |
| Environmental obligations | 163 | €0 | - | = | |
| Other liabilities and charges | 164/5 | €146,720 | €160,650 | +€13,930 | +9.5% |
| Amounts payable | 17/49 | €784,461 | €771,058 | -€13,403 | -1.7% |
| Amounts payable after more than one year | 17 | €384,653 | €327,943 | -€56,710 | -14.7% |
| Financial debts | 170/4 | €384,653 | €327,943 | -€56,710 | -14.7% |
| Amounts payable within one year | 42/48 | €399,424 | €443,047 | +€43,624 | +10.9% |
| Current portion of amounts payable after more than one year | 42 | €61,483 | €56,710 | -€4,772 | -7.8% |
| Trade debts | 44 | €241,362 | €281,840 | +€40,477 | +16.8% |
| Suppliers | 440/4 | €241,362 | €281,840 | +€40,477 | +16.8% |
| Taxes, remuneration and social security | 45 | €88,815 | €98,838 | +€10,023 | +11.3% |
| Taxes | 450/3 | €22,867 | €35,898 | +€13,031 | +57.0% |
| Remuneration and social security | 454/9 | €65,948 | €62,940 | -€3,008 | -4.6% |
| Other amounts payable | 47/48 | €7,763 | €5,659 | -€2,104 | -27.1% |
| Accrued charges and deferred income | 492/3 | €384 | €68 | -€316 | -82.4% |
| Non-recurring operating income | 76A | €8,190 | €0 | -€8,190 | -100% |
| Remuneration, social security and pensions | 62 | €416,898 | €406,033 | -€10,865 | -2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €98,262 | €103,699 | +€5,437 | +5.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €11,919 | €13,930 | +€2,011 | +16.9% |
| Other operating charges | 640/8 | €7,062 | €5,898 | -€1,164 | -16.5% |
| Gross operating margin | 9900 | €691,450 | €716,010 | +€24,560 | +3.6% |
| Operating profit (loss) | 9901 | €157,309 | €186,451 | +€29,141 | +18.5% |
| Financial income | 75/76B | €406 | €3,598 | +€3,192 | +785% |
| Recurring financial income | 75 | €406 | €3,598 | +€3,192 | +785% |
| Financial charges | 65/66B | €15,431 | €13,180 | -€2,252 | -14.6% |
| Recurring financial charges | 65 | €15,431 | €13,180 | -€2,252 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €142,284 | €176,869 | +€34,585 | +24.3% |
| Income taxes | 67/77 | €45,955 | €57,550 | +€11,595 | +25.2% |
| Profit (loss) for the period | 9904 | €96,329 | €119,319 | +€22,990 | +23.9% |
| Profit (loss) for the period to be appropriated | 9905 | €96,329 | €119,319 | +€22,990 | +23.9% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.