IVL: 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.
IVL
Largest movements
- Cash +€51,105
up €51,105 (+320%), from €15,954 to €67,059
mainly Receivables within one year (+€49,717) and Net result for the year (+€10,180)
- Receivables within one year -€49,717
down €49,717 (-89.2%), from €55,749 to €6,031
of which Trade receivables: -€40,273
- Deferred charges and accrued income -€1,933
down €1,933 (-20.6%), from €9,396 to €7,463
- Tax, wage and social debts -€10,902
down €10,902 (-97.9%), from €11,139 to €237
of which Taxes: -€7,112
- Reserves +€10,180
up €10,180 (+328%), from €3,102 to €13,282
- Trade debts -€6,185
down €6,185 (-68.2%), from €9,066 to €2,881
- Other debts +€5,592
up €5,592 (+10.3%), from €54,411 to €60,003
- Gross operating margin +€12,086
up €12,086 (+160%), from €7,572 to €19,658
- Financial charges +€2,455
up €2,455 (+241%), from €1,020 to €3,475
- Taxes +€2,108
up €2,108 (+95.6%), from €2,205 to €4,312
- Other operating charges +€367
up €367 (+66.2%), from €553 to €920
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €82,718 | €81,403 | -€1,316 | -1.6% |
| Fixed assets | 21/28 | €1,620 | €849 | -€771 | -47.6% |
| Tangible fixed assets | 22/27 | €1,620 | €849 | -€771 | -47.6% |
| Furniture and vehicles | 24 | €1,620 | €849 | -€771 | -47.6% |
| Current assets | 29/58 | €81,098 | €80,553 | -€545 | -0.7% |
| Amounts receivable within one year | 40/41 | €55,749 | €6,031 | -€49,717 | -89.2% |
| Trade receivables | 40 | €40,273 | €0 | -€40,273 | -100% |
| Other amounts receivable | 41 | €15,475 | €6,031 | -€9,444 | -61.0% |
| Cash at bank and in hand | 54/58 | €15,954 | €67,059 | +€51,105 | +320% |
| Deferred charges and accrued income | 490/1 | €9,396 | €7,463 | -€1,933 | -20.6% |
| Total equity and liabilities | 10/49 | €82,718 | €81,403 | -€1,316 | -1.6% |
| Equity | 10/15 | €8,102 | €18,282 | +€10,180 | +126% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €3,102 | €13,282 | +€10,180 | +328% |
| Distributable reserves | 133 | €3,102 | €13,282 | +€10,180 | +328% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €74,617 | €63,121 | -€11,495 | -15.4% |
| Amounts payable within one year | 42/48 | €74,617 | €63,121 | -€11,495 | -15.4% |
| Trade debts | 44 | €9,066 | €2,881 | -€6,185 | -68.2% |
| Suppliers | 440/4 | €9,066 | €2,881 | -€6,185 | -68.2% |
| Taxes, remuneration and social security | 45 | €11,139 | €237 | -€10,902 | -97.9% |
| Taxes | 450/3 | €7,349 | €237 | -€7,112 | -96.8% |
| Remuneration and social security | 454/9 | €3,791 | €0 | -€3,791 | -100% |
| Other amounts payable | 47/48 | €54,411 | €60,003 | +€5,592 | +10.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €693 | €771 | +€78 | +11.3% |
| Other operating charges | 640/8 | €553 | €920 | +€367 | +66.2% |
| Gross operating margin | 9900 | €7,572 | €19,658 | +€12,086 | +160% |
| Operating profit (loss) | 9901 | €6,326 | €17,967 | +€11,641 | +184% |
| Financial charges | 65/66B | €1,020 | €3,475 | +€2,455 | +241% |
| Recurring financial charges | 65 | €1,020 | €3,475 | +€2,455 | +241% |
| Profit (loss) for the period before taxes | 9903 | €5,306 | €14,492 | +€9,186 | +173% |
| Income taxes | 67/77 | €2,205 | €4,312 | +€2,108 | +95.6% |
| Profit (loss) for the period | 9904 | €3,102 | €10,180 | +€7,078 | +228% |
| Profit (loss) for the period to be appropriated | 9905 | €3,102 | €10,180 | +€7,078 | +228% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.