IVM: 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.
IVM
Largest movements
- Cash +€1,653
up €1,653 (+75.1%), from €2,200 to €3,853
mainly Net result for the year (+€2,800) and Depreciation (+€951)
- Profit (loss) carried forward +€2,800
up €2,800 (+2.2%), from -€124,964 to -€122,164
- Gross operating margin +€5,556
up €5,556 (+351%), from €1,582 to €7,137
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 | €160,665 | €161,728 | +€1,063 | +0.7% |
| Fixed assets | 21/28 | €105,243 | €104,291 | -€951 | -0.9% |
| Tangible fixed assets | 22/27 | €105,243 | €104,291 | -€951 | -0.9% |
| Land and buildings | 22 | €104,190 | €103,765 | -€425 | -0.4% |
| Plant, machinery and equipment | 23 | €1,053 | €526 | -€526 | -50.0% |
| Current assets | 29/58 | €55,422 | €57,437 | +€2,015 | +3.6% |
| Stocks and contracts in progress | 3 | €660 | €660 | = | 0.0% |
| Stocks | 30/36 | €660 | €660 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €4,241 | €3,747 | -€494 | -11.6% |
| Other amounts receivable | 41 | €4,241 | €3,747 | -€494 | -11.6% |
| Current investments | 50/53 | €48,322 | €48,525 | +€203 | +0.4% |
| Cash at bank and in hand | 54/58 | €2,200 | €3,853 | +€1,653 | +75.1% |
| Deferred charges and accrued income | 490/1 | - | €653 | +€653 | |
| Total equity and liabilities | 10/49 | €160,665 | €161,728 | +€1,063 | +0.7% |
| Equity | 10/15 | €157,402 | €160,202 | +€2,800 | +1.8% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €217,366 | €217,366 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,381 | €29,381 | = | 0.0% |
| Distributable reserves | 133 | €181,485 | €181,485 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€124,964 | -€122,164 | +€2,800 | +2.2% |
| Amounts payable | 17/49 | €3,263 | €1,526 | -€1,737 | -53.2% |
| Amounts payable within one year | 42/48 | €3,263 | €1,526 | -€1,737 | -53.2% |
| Trade debts | 44 | €1,575 | €755 | -€820 | -52.1% |
| Suppliers | 440/4 | €1,575 | €755 | -€820 | -52.1% |
| Taxes, remuneration and social security | 45 | €1,688 | €771 | -€917 | -54.3% |
| Taxes | 450/3 | €688 | €771 | +€83 | +12.1% |
| Remuneration and social security | 454/9 | €1,000 | - | -€1,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €953 | €951 | -€2 | -0.2% |
| Other operating charges | 640/8 | €3,651 | €3,635 | -€16 | -0.4% |
| Gross operating margin | 9900 | €1,582 | €7,137 | +€5,556 | +351% |
| Operating profit (loss) | 9901 | -€3,022 | €2,551 | +€5,573 | |
| Financial income | 75/76B | €289 | €290 | +€1 | +0.4% |
| Recurring financial income | 75 | €289 | €290 | +€1 | +0.4% |
| Financial charges | 65/66B | €39 | €40 | +€1 | +3.5% |
| Recurring financial charges | 65 | €39 | €40 | +€1 | +3.5% |
| Profit (loss) for the period before taxes | 9903 | -€2,773 | €2,800 | +€5,573 | |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€2,773 | €2,800 | +€5,573 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,773 | €2,800 | +€5,573 |
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 16 October 2026 via checked.be.