IVLC IMMO: 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.
IVLC IMMO
Largest movements
- Tangible fixed assets -€40,377
down €40,377 (-5.0%), from €812,666 to €772,289
of which Plant, machinery and equipment: -€21,777
- Other debts +€433,037
up €433,037 (+7,022%), from €6,167 to €439,204
- Debts after one year -€363,858
no longer reported in 2025 (was €363,858)
- Current portion of long-term debt -€68,314
no longer reported in 2025 (was €68,314)
- Accrued charges and deferred income -€29,270
no longer reported in 2025 (was €29,270)
- Gross operating margin -€21,182
down €21,182 (-27.7%), from €76,451 to €55,269
- Other operating charges +€5,037
up €5,037 (+521%), from €968 to €6,005
- Taxes -€4,294
down €4,294 (-99.8%), from €4,304 to €10
- Financial charges -€2,638
down €2,638 (-15.7%), from €16,800 to €14,163
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 | €828,169 | €788,737 | -€39,431 | -4.8% |
| Fixed assets | 21/28 | €812,666 | €772,339 | -€40,327 | -5.0% |
| Tangible fixed assets | 22/27 | €812,666 | €772,289 | -€40,377 | -5.0% |
| Land and buildings | 22 | €547,150 | €528,550 | -€18,600 | -3.4% |
| Plant, machinery and equipment | 23 | €265,516 | €243,739 | -€21,777 | -8.2% |
| Financial fixed assets | 28 | - | €50 | +€50 | |
| Current assets | 29/58 | €15,502 | €16,398 | +€896 | +5.8% |
| Amounts receivable within one year | 40/41 | €216 | €5,885 | +€5,669 | +2,619% |
| Trade receivables | 40 | - | €3,815 | +€3,815 | |
| Other amounts receivable | 41 | €216 | €2,070 | +€1,854 | +856% |
| Cash at bank and in hand | 54/58 | €6,100 | €5,385 | -€714 | -11.7% |
| Deferred charges and accrued income | 490/1 | €9,186 | €5,127 | -€4,059 | -44.2% |
| Total equity and liabilities | 10/49 | €828,169 | €788,737 | -€39,431 | -4.8% |
| Equity | 10/15 | €356,228 | €349,534 | -€6,694 | -1.9% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €56,228 | €56,228 | = | 0.0% |
| Distributable reserves | 133 | €56,228 | €56,228 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€6,694 | -€6,694 | |
| Amounts payable | 17/49 | €471,941 | €439,204 | -€32,737 | -6.9% |
| Amounts payable after more than one year | 17 | €363,858 | - | -€363,858 | |
| Financial debts | 170/4 | €363,858 | - | -€363,858 | |
| Amounts payable within one year | 42/48 | €78,813 | €439,204 | +€360,391 | +457% |
| Current portion of amounts payable after more than one year | 42 | €68,314 | - | -€68,314 | |
| Trade debts | 44 | €3,028 | - | -€3,028 | |
| Suppliers | 440/4 | €3,028 | - | -€3,028 | |
| Taxes, remuneration and social security | 45 | €1,304 | - | -€1,304 | |
| Taxes | 450/3 | €1,304 | - | -€1,304 | |
| Other amounts payable | 47/48 | €6,167 | €439,204 | +€433,037 | +7,022% |
| Accrued charges and deferred income | 492/3 | €29,270 | - | -€29,270 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,678 | €41,806 | +€128 | +0.3% |
| Other operating charges | 640/8 | €968 | €6,005 | +€5,037 | +521% |
| Gross operating margin | 9900 | €76,451 | €55,269 | -€21,182 | -27.7% |
| Operating profit (loss) | 9901 | €33,805 | €7,458 | -€26,348 | -77.9% |
| Financial income | 75/76B | - | €21 | +€21 | |
| Recurring financial income | 75 | - | €21 | +€21 | |
| Financial charges | 65/66B | €16,800 | €14,163 | -€2,638 | -15.7% |
| Recurring financial charges | 65 | €16,800 | €14,163 | -€2,638 | -15.7% |
| Profit (loss) for the period before taxes | 9903 | €17,005 | -€6,684 | -€23,689 | |
| Income taxes | 67/77 | €4,304 | €10 | -€4,294 | -99.8% |
| Profit (loss) for the period | 9904 | €12,701 | -€6,694 | -€19,395 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,701 | -€6,694 | -€19,395 |
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 20 October 2026 via checked.be.