IVEX TRADE: 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.
IVEX TRADE
Largest movements
- Receivables within one year +€906,187
up €906,187 (+125%), from €724,466 to €1.6m
of which Trade receivables: +€873,835
- Stocks and contracts +€287,441
up €287,441 (+90.4%), from €317,901 to €605,342
- Cash -€145,513
down €145,513 (-59.8%), from €243,289 to €97,776
mainly Receivables within one year (-€906,187) and Contributions, distributions and other (-€330,000)
- Tangible fixed assets +€93,732
up €93,732 (+18,446%), from €508 to €94,240
of which Furniture and vehicles: +€92,941
- Trade debts +€873,102
up €873,102 (+161%), from €541,230 to €1.4m
- Advances received +€202,120
up €202,120 (+282%), from €71,557 to €273,677
- Tax, wage and social debts +€157,810
up €157,810 (+113%), from €139,134 to €296,944
- Profit (loss) carried forward -€89,903
down €89,903 (-17.8%), from €504,835 to €414,932
- Other operating charges +€362,181
up €362,181 (+65.1%), from €556,276 to €918,457
- Gross operating margin +€305,000
up €305,000 (+31.1%), from €981,221 to €1.3m
- Taxes +€13,790
up €13,790 (+13.6%), from €101,282 to €115,071
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,286,756 | €2,429,884 | +€1.1m | +88.8% |
| Fixed assets | 21/28 | €778 | €94,510 | +€93,732 | +12,045% |
| Tangible fixed assets | 22/27 | €508 | €94,240 | +€93,732 | +18,446% |
| Plant, machinery and equipment | 23 | - | €791 | +€791 | |
| Furniture and vehicles | 24 | €508 | €93,449 | +€92,941 | +18,290% |
| Financial fixed assets | 28 | €270 | €270 | = | 0.0% |
| Current assets | 29/58 | €1,285,978 | €2,335,374 | +€1.0m | +81.6% |
| Stocks and contracts in progress | 3 | €317,901 | €605,342 | +€287,441 | +90.4% |
| Stocks | 30/36 | €317,901 | €605,342 | +€287,441 | +90.4% |
| Amounts receivable within one year | 40/41 | €724,466 | €1,630,653 | +€906,187 | +125% |
| Trade receivables | 40 | €711,212 | €1,585,046 | +€873,835 | +123% |
| Other amounts receivable | 41 | €13,254 | €45,606 | +€32,352 | +244% |
| Cash at bank and in hand | 54/58 | €243,289 | €97,776 | -€145,513 | -59.8% |
| Deferred charges and accrued income | 490/1 | €322 | €1,604 | +€1,282 | +398% |
| Total equity and liabilities | 10/49 | €1,286,756 | €2,429,884 | +€1.1m | +88.8% |
| Equity | 10/15 | €534,835 | €444,932 | -€89,903 | -16.8% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Capital | 10 | €30,000 | €30,000 | = | 0.0% |
| Issued capital | 100 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €504,835 | €414,932 | -€89,903 | -17.8% |
| Amounts payable | 17/49 | €751,920 | €1,984,952 | +€1.2m | +164% |
| Amounts payable within one year | 42/48 | €751,920 | €1,984,952 | +€1.2m | +164% |
| Trade debts | 44 | €541,230 | €1,414,331 | +€873,102 | +161% |
| Suppliers | 440/4 | €541,230 | €1,414,331 | +€873,102 | +161% |
| Advances received on contracts in progress | 46 | €71,557 | €273,677 | +€202,120 | +282% |
| Taxes, remuneration and social security | 45 | €139,134 | €296,944 | +€157,810 | +113% |
| Taxes | 450/3 | €139,134 | €296,944 | +€157,810 | +113% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €187 | €11,249 | +€11,061 | +5,906% |
| Other operating charges | 640/8 | €556,276 | €918,457 | +€362,181 | +65.1% |
| Gross operating margin | 9900 | €981,221 | €1,286,221 | +€305,000 | +31.1% |
| Operating profit (loss) | 9901 | €424,757 | €356,515 | -€68,242 | -16.1% |
| Financial income | 75/76B | €1,733 | €906 | -€827 | -47.7% |
| Recurring financial income | 75 | €1,733 | €842 | -€891 | -51.4% |
| Non-recurring financial income | 76B | - | €64 | +€64 | |
| Financial charges | 65/66B | €680 | €2,253 | +€1,572 | +231% |
| Recurring financial charges | 65 | €680 | €2,253 | +€1,572 | +231% |
| Profit (loss) for the period before taxes | 9903 | €425,809 | €355,168 | -€70,641 | -16.6% |
| Income taxes | 67/77 | €101,282 | €115,071 | +€13,790 | +13.6% |
| Profit (loss) for the period | 9904 | €324,528 | €240,097 | -€84,431 | -26.0% |
| Profit (loss) for the period to be appropriated | 9905 | €324,528 | €240,097 | -€84,431 | -26.0% |
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 17 October 2026 via checked.be.