IVIN: 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.
IVIN
Largest movements
- Tangible fixed assets +€215,768
up €215,768 (+60.2%), from €358,624 to €574,392
of which Land and buildings: +€299,971
- Current investments +€108,740
up €108,740 (+17.7%), from €614,271 to €723,011
- Cash +€75,656
up €75,656 (+67.2%), from €112,591 to €188,246
mainly Other debts (+€304,354) and Depreciation (+€147,320)
- Receivables within one year +€18,794
up €18,794 (+12.0%), from €156,521 to €175,315
of which Trade receivables: +€16,058
- Other debts +€304,354
up €304,354 (+97.9%), from €310,977 to €615,331
- Profit (loss) carried forward +€44,063
up €44,063 (+169.4%), from €26,014 to €70,076
- Accrued charges and deferred income +€36,885
new in 2025: €36,885
- Debts after one year +€22,635
new in 2025: €22,635
- Gross operating margin +€71,309
up €71,309 (+60.6%), from €117,639 to €188,948
- Depreciation +€32,425
up €32,425 (+28.2%), from €114,895 to €147,320
- Taxes +€7,788
up €7,788 (+109.7%), from €7,102 to €14,890
- Financial income -€6,213
down €6,213 (-24.5%), from €25,315 to €19,102
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 | €1,242,006 | €1,660,963 | +€418,957 | +33.7% |
| Fixed assets | 21/28 | €358,624 | €574,392 | +€215,768 | +60.2% |
| Tangible fixed assets | 22/27 | €358,624 | €574,392 | +€215,768 | +60.2% |
| Land and buildings | 22 | - | €299,971 | +€299,971 | |
| Other tangible fixed assets | 26 | €358,624 | €274,421 | -€84,203 | -23.5% |
| Current assets | 29/58 | €883,382 | €1,086,571 | +€203,189 | +23.0% |
| Amounts receivable within one year | 40/41 | €156,521 | €175,315 | +€18,794 | +12.0% |
| Trade receivables | 40 | €89,924 | €105,983 | +€16,058 | +17.9% |
| Other amounts receivable | 41 | €66,596 | €69,332 | +€2,736 | +4.1% |
| Current investments | 50/53 | €614,271 | €723,011 | +€108,740 | +17.7% |
| Cash at bank and in hand | 54/58 | €112,591 | €188,246 | +€75,656 | +67.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €1,242,006 | €1,660,963 | +€418,957 | +33.7% |
| Equity | 10/15 | €850,448 | €888,738 | +€38,290 | +4.5% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Uncalled capital | 101 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €574,120 | €568,662 | -€5,458 | -1.0% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €184,120 | €178,662 | -€5,458 | -3.0% |
| Distributable reserves | 133 | €340,000 | €340,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,014 | €70,076 | +€44,063 | +169.4% |
| Investment grants | 15 | €314 | €0 | -€314 | -100.0% |
| Provisions and deferred taxes | 16 | €61,535 | €59,554 | -€1,981 | -3.2% |
| Deferred taxes | 168 | €61,535 | €59,554 | -€1,981 | -3.2% |
| Amounts payable | 17/49 | €330,023 | €712,671 | +€382,648 | +115.9% |
| Amounts payable after more than one year | 17 | - | €22,635 | +€22,635 | |
| Financial debts | 170/4 | - | €22,635 | +€22,635 | |
| Amounts payable within one year | 42/48 | €330,023 | €653,151 | +€323,128 | +97.9% |
| Current portion of amounts payable after more than one year | 42 | - | €3,538 | +€3,538 | |
| Trade debts | 44 | €8,840 | €11,567 | +€2,728 | +30.9% |
| Suppliers | 440/4 | €8,840 | €11,567 | +€2,728 | +30.9% |
| Taxes, remuneration and social security | 45 | €10,206 | €22,714 | +€12,508 | +122.5% |
| Taxes | 450/3 | €10,206 | €22,714 | +€12,508 | +122.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €310,977 | €615,331 | +€304,354 | +97.9% |
| Accrued charges and deferred income | 492/3 | - | €36,885 | +€36,885 | |
| Remuneration, social security and pensions | 62 | -€345 | €0 | +€345 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €114,895 | €147,320 | +€32,425 | +28.2% |
| Other operating charges | 640/8 | €1,144 | €1,963 | +€819 | +71.6% |
| Gross operating margin | 9900 | €117,639 | €188,948 | +€71,309 | +60.6% |
| Operating profit (loss) | 9901 | €1,945 | €39,665 | +€37,720 | +1939.1% |
| Financial income | 75/76B | €25,315 | €19,102 | -€6,213 | -24.5% |
| Recurring financial income | 75 | €25,315 | €19,102 | -€6,213 | -24.5% |
| Financial charges | 65/66B | €6,608 | €7,254 | +€645 | +9.8% |
| Recurring financial charges | 65 | €6,608 | €7,254 | +€645 | +9.8% |
| Profit (loss) for the period before taxes | 9903 | €20,651 | €51,513 | +€30,862 | +149.4% |
| Transfer from deferred taxes | 780 | €2,063 | €1,981 | -€82 | -4.0% |
| Income taxes | 67/77 | €7,102 | €14,890 | +€7,788 | +109.7% |
| Profit (loss) for the period | 9904 | €15,613 | €38,604 | +€22,992 | +147.3% |
| Transfer from tax-exempt reserves | 789 | €5,444 | €5,458 | +€15 | +0.3% |
| Profit (loss) for the period to be appropriated | 9905 | €21,056 | €44,063 | +€23,006 | +109.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.