IVK MANAGEMENT: what changed
IVK MANAGEMENT
Largest movements
- Current investments +€104,703
up €104,703 (+52.4%), from €199,851 to €304,554
- Cash +€65,550
up €65,550 (+73.2%), from €89,546 to €155,096
mainly Net result for the year (+€149,317) and Tax, wage and social debts (+€15,798)
- Tangible fixed assets -€12,577
down €12,577 (-24.8%), from €50,652 to €38,075
of which Furniture and vehicles: -€12,094
- Receivables within one year +€8,525
up €8,525 (+11.8%), from €72,123 to €80,648
of which Other amounts receivable: +€6,622
- Reserves +€149,317
up €149,317 (+57.4%), from €259,937 to €409,254
- Tax, wage and social debts +€15,798
up €15,798 (+10.5%), from €150,076 to €165,874
- Gross operating margin +€6,510
up €6,510 (+2.9%), from €227,300 to €233,809
- Financial income +€4,267
up €4,267 (+337%), from €1,265 to €5,532
- Taxes +€3,619
up €3,619 (+5.1%), from €71,324 to €74,942
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €414,128 | €580,415 | +€166,287 | +40.2% |
| Fixed assets | 21/28 | €51,152 | €38,575 | -€12,577 | -24.6% |
| Tangible fixed assets | 22/27 | €50,652 | €38,075 | -€12,577 | -24.8% |
| Plant, machinery and equipment | 23 | €1,822 | €1,339 | -€483 | -26.5% |
| Furniture and vehicles | 24 | €48,830 | €36,736 | -€12,094 | -24.8% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €362,975 | €541,840 | +€178,864 | +49.3% |
| Amounts receivable within one year | 40/41 | €72,123 | €80,648 | +€8,525 | +11.8% |
| Trade receivables | 40 | €60,216 | €62,119 | +€1,903 | +3.2% |
| Other amounts receivable | 41 | €11,907 | €18,529 | +€6,622 | +55.6% |
| Current investments | 50/53 | €199,851 | €304,554 | +€104,703 | +52.4% |
| Cash at bank and in hand | 54/58 | €89,546 | €155,096 | +€65,550 | +73.2% |
| Deferred charges and accrued income | 490/1 | €1,455 | €1,541 | +€86 | +5.9% |
| Total equity and liabilities | 10/49 | €414,128 | €580,415 | +€166,287 | +40.2% |
| Equity | 10/15 | €261,937 | €411,254 | +€149,317 | +57.0% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €259,937 | €409,254 | +€149,317 | +57.4% |
| Distributable reserves | 133 | €259,937 | €409,254 | +€149,317 | +57.4% |
| Amounts payable | 17/49 | €152,191 | €169,161 | +€16,970 | +11.2% |
| Amounts payable within one year | 42/48 | €152,191 | €169,161 | +€16,970 | +11.2% |
| Trade debts | 44 | €2,115 | €3,287 | +€1,172 | +55.4% |
| Suppliers | 440/4 | €2,115 | €3,287 | +€1,172 | +55.4% |
| Taxes, remuneration and social security | 45 | €150,076 | €165,874 | +€15,798 | +10.5% |
| Taxes | 450/3 | €150,076 | €165,874 | +€15,798 | +10.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,635 | €13,755 | +€119 | +0.9% |
| Other operating charges | 640/8 | €954 | €939 | -€16 | -1.6% |
| Gross operating margin | 9900 | €227,300 | €233,809 | +€6,510 | +2.9% |
| Operating profit (loss) | 9901 | €212,710 | €219,116 | +€6,406 | +3.0% |
| Financial income | 75/76B | €1,265 | €5,532 | +€4,267 | +337% |
| Recurring financial income | 75 | €1,265 | €5,532 | +€4,267 | +337% |
| Financial charges | 65/66B | €236 | €388 | +€152 | +64.6% |
| Recurring financial charges | 65 | €236 | €388 | +€152 | +64.6% |
| Profit (loss) for the period before taxes | 9903 | €213,739 | €224,260 | +€10,521 | +4.9% |
| Income taxes | 67/77 | €71,324 | €74,942 | +€3,619 | +5.1% |
| Profit (loss) for the period | 9904 | €142,415 | €149,317 | +€6,902 | +4.8% |
| Profit (loss) for the period to be appropriated | 9905 | €142,415 | €149,317 | +€6,902 | +4.8% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.