IVK: 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.
IVK
Largest movements
- Tangible fixed assets +€15,891
up €15,891 (+39.0%), from €40,784 to €56,676
- Cash -€12,984
down €12,984 (-5.1%), from €253,219 to €240,235
mainly Contributions, distributions and other (-€79,000) and Investment in fixed assets (net) (-€26,533)
- Reserves +€22,500
up €22,500 (+3.9%), from €578,003 to €600,503
- Tax, wage and social debts -€13,783
down €13,783 (-85.6%), from €16,105 to €2,323
- Trade debts -€7,969
down €7,969 (-75.4%), from €10,576 to €2,607
- Gross operating margin -€4,484
down €4,484 (-2.7%), from €165,705 to €161,221
- Depreciation +€4,254
up €4,254 (+66.6%), from €6,388 to €10,641
- Taxes -€2,407
down €2,407 (-4.8%), from €49,730 to €47,323
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 | €633,112 | €633,153 | +€41 | 0.0% |
| Fixed assets | 21/28 | €40,784 | €56,676 | +€15,891 | +39.0% |
| Tangible fixed assets | 22/27 | €40,784 | €56,676 | +€15,891 | +39.0% |
| Land and buildings | 22 | €28,045 | €34,255 | +€6,210 | +22.1% |
| Plant, machinery and equipment | 23 | €8,267 | €11,541 | +€3,275 | +39.6% |
| Furniture and vehicles | 24 | €1,472 | €1,379 | -€93 | -6.3% |
| Other tangible fixed assets | 26 | €3,000 | €9,500 | +€6,500 | +217% |
| Current assets | 29/58 | €592,328 | €576,478 | -€15,850 | -2.7% |
| Amounts receivable within one year | 40/41 | €49,469 | €47,242 | -€2,227 | -4.5% |
| Other amounts receivable | 41 | €49,469 | €47,242 | -€2,227 | -4.5% |
| Current investments | 50/53 | €289,000 | €289,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €253,219 | €240,235 | -€12,984 | -5.1% |
| Deferred charges and accrued income | 490/1 | €639 | - | -€639 | |
| Total equity and liabilities | 10/49 | €633,112 | €633,153 | +€41 | 0.0% |
| Equity | 10/15 | €602,122 | €624,669 | +€22,547 | +3.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €578,003 | €600,503 | +€22,500 | +3.9% |
| Distributable reserves | 133 | €578,003 | €600,503 | +€22,500 | +3.9% |
| Profit (loss) carried forward | 14 | €5,519 | €5,566 | +€47 | +0.9% |
| Amounts payable | 17/49 | €30,990 | €8,484 | -€22,506 | -72.6% |
| Amounts payable within one year | 42/48 | €30,990 | €7,059 | -€23,931 | -77.2% |
| Trade debts | 44 | €10,576 | €2,607 | -€7,969 | -75.4% |
| Suppliers | 440/4 | €10,576 | €2,607 | -€7,969 | -75.4% |
| Taxes, remuneration and social security | 45 | €16,105 | €2,323 | -€13,783 | -85.6% |
| Taxes | 450/3 | €16,105 | €2,323 | -€13,783 | -85.6% |
| Other amounts payable | 47/48 | €4,308 | €2,129 | -€2,179 | -50.6% |
| Accrued charges and deferred income | 492/3 | - | €1,425 | +€1,425 | |
| Remuneration, social security and pensions | 62 | €2,001 | €1,354 | -€647 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,388 | €10,641 | +€4,254 | +66.6% |
| Other operating charges | 640/8 | €844 | €387 | -€457 | -54.1% |
| Non-recurring operating charges | 66A | €794 | - | -€794 | |
| Gross operating margin | 9900 | €165,705 | €161,221 | -€4,484 | -2.7% |
| Operating profit (loss) | 9901 | €155,678 | €148,839 | -€6,839 | -4.4% |
| Financial income | 75/76B | €526 | €668 | +€142 | +27.0% |
| Recurring financial income | 75 | €526 | €668 | +€142 | +27.0% |
| Financial charges | 65/66B | €541 | €637 | +€96 | +17.8% |
| Recurring financial charges | 65 | €541 | €637 | +€96 | +17.8% |
| Profit (loss) for the period before taxes | 9903 | €155,663 | €148,870 | -€6,793 | -4.4% |
| Income taxes | 67/77 | €49,730 | €47,323 | -€2,407 | -4.8% |
| Profit (loss) for the period | 9904 | €105,933 | €101,547 | -€4,386 | -4.1% |
| Profit (loss) for the period to be appropriated | 9905 | €105,933 | €101,547 | -€4,386 | -4.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.