IVORY: what changed
Two fiscal 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.
IVORY
Largest movements
- Tangible fixed assets -€21,595
down €21,595 (-7.6%), from €285,332 to €263,737
of which Furniture and vehicles: -€12,228
- Current portion of long-term debt -€13,744
no longer reported in 2024 (was €13,744)
- Reserves -€8,403
down €8,403 (-5.4%), from €154,963 to €146,560
of which Tax-exempt reserves: -€8,403
- Other debts -€3,467
down €3,467 (-7.0%), from €49,382 to €45,915
- Profit (loss) carried forward +€3,371
up €3,371 (+3.8%), from €88,307 to €91,678
- Financial income +€5,525
new in 2024: €5,525
- Taxes +€2,468
up €2,468, from -€2 to €2,466
- Gross operating margin +€1,193
up €1,193 (+8.6%), from €13,892 to €15,085
- Depreciation -€232
down €232 (-1.1%), from €21,826 to €21,595
From the 2023 result to the 2024 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.
Cash bridge derived
Derived from the 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €325,116 | €304,656 | -€20,461 | -6.3% |
| Fixed assets | 21/28 | €285,616 | €264,021 | -€21,595 | -7.6% |
| Tangible fixed assets | 22/27 | €285,332 | €263,737 | -€21,595 | -7.6% |
| Land and buildings | 22 | €266,998 | €258,318 | -€8,680 | -3.3% |
| Plant, machinery and equipment | 23 | €37 | - | -€37 | |
| Furniture and vehicles | 24 | €12,228 | - | -€12,228 | |
| Other tangible fixed assets | 26 | €6,069 | €5,419 | -€650 | -10.7% |
| Financial fixed assets | 28 | €284 | €284 | = | 0.0% |
| Current assets | 29/58 | €39,501 | €40,635 | +€1,134 | +2.9% |
| Current investments | 50/53 | €26,849 | €30,000 | +€3,151 | +11.7% |
| Cash at bank and in hand | 54/58 | €12,652 | €10,635 | -€2,017 | -15.9% |
| Total equity and liabilities | 10/49 | €325,116 | €304,656 | -€20,461 | -6.3% |
| Equity | 10/15 | €261,870 | €256,837 | -€5,033 | -1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €154,963 | €146,560 | -€8,403 | -5.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €153,103 | €144,700 | -€8,403 | -5.5% |
| Profit (loss) carried forward | 14 | €88,307 | €91,678 | +€3,371 | +3.8% |
| Amounts payable | 17/49 | €63,246 | €47,819 | -€15,428 | -24.4% |
| Amounts payable within one year | 42/48 | €63,246 | €47,819 | -€15,428 | -24.4% |
| Current portion of amounts payable after more than one year | 42 | €13,744 | - | -€13,744 | |
| Trade debts | 44 | €121 | - | -€121 | |
| Suppliers | 440/4 | €121 | - | -€121 | |
| Taxes, remuneration and social security | 45 | - | €1,903 | +€1,903 | |
| Taxes | 450/3 | - | €1,903 | +€1,903 | |
| Other amounts payable | 47/48 | €49,382 | €45,915 | -€3,467 | -7.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,826 | €21,595 | -€232 | -1.1% |
| Other operating charges | 640/8 | €1,313 | €1,235 | -€78 | -5.9% |
| Gross operating margin | 9900 | €13,892 | €15,085 | +€1,193 | +8.6% |
| Operating profit (loss) | 9901 | -€9,247 | -€7,744 | +€1,503 | +16.2% |
| Financial income | 75/76B | - | €5,525 | +€5,525 | |
| Recurring financial income | 75 | - | €5,525 | +€5,525 | |
| Financial charges | 65/66B | €314 | €347 | +€34 | +10.7% |
| Recurring financial charges | 65 | €314 | €347 | +€34 | +10.7% |
| Profit (loss) for the period before taxes | 9903 | -€9,561 | -€2,567 | +€6,994 | +73.2% |
| Transfer from deferred taxes | 780 | €2,085 | - | -€2,085 | |
| Income taxes | 67/77 | -€2 | €2,466 | +€2,468 | |
| Profit (loss) for the period | 9904 | -€7,474 | -€5,033 | +€2,441 | +32.7% |
| Transfer from tax-exempt reserves | 789 | €6,318 | €8,403 | +€2,085 | +33.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,155 | €3,371 | +€4,526 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.