IVOZ - ELEC: 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.
IVOZ - ELEC
Largest movements
- Receivables within one year +€60,329
up €60,329 (+37.9%), from €159,029 to €219,358
of which Other amounts receivable: +€50,635
- Stocks and contracts +€38,576
up €38,576 (+42.9%), from €89,854 to €128,430
- Tangible fixed assets -€27,137
down €27,137 (-20.1%), from €135,248 to €108,111
of which Land and buildings: -€20,754
- Deferred charges and accrued income -€24,816
down €24,816 (-90.8%), from €27,336 to €2,520
- Cash -€9,023
down €9,023 (-52.5%), from €17,198 to €8,175
- Other debts +€239,624
new in 2025: €239,624
- Trade debts -€140,261
down €140,261 (-63.9%), from €219,442 to €79,181
- Reserves +€83,949
up €83,949 (+2,709%), from €3,099 to €87,048
of which Distributable reserves: +€83,949
- Profit (loss) carried forward -€65,424
no longer reported in 2025 (was €65,424)
- Debts after one year -€59,780
no longer reported in 2025 (was €59,780)
- Turnover -€848,527
no longer reported in 2025 (was €848,527)
- Purchases and services -€805,274
no longer reported in 2025 (was €805,274)
- Gross operating margin +€10,286
up €10,286 (+18.1%), from €56,894 to €67,180
From the 2022 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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2022 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €428,985 | €466,915 | +€37,930 | +8.8% |
| Fixed assets | 21/28 | €135,568 | €108,431 | -€27,137 | -20.0% |
| Tangible fixed assets | 22/27 | €135,248 | €108,111 | -€27,137 | -20.1% |
| Land and buildings | 22 | €127,412 | €106,658 | -€20,754 | -16.3% |
| Furniture and vehicles | 24 | €7,836 | €1,453 | -€6,383 | -81.5% |
| Financial fixed assets | 28 | €320 | €320 | = | 0.0% |
| Current assets | 29/58 | €293,417 | €358,484 | +€65,067 | +22.2% |
| Stocks and contracts in progress | 3 | €89,854 | €128,430 | +€38,576 | +42.9% |
| Stocks | 30/36 | €89,854 | €128,430 | +€38,576 | +42.9% |
| Amounts receivable within one year | 40/41 | €159,029 | €219,358 | +€60,329 | +37.9% |
| Trade receivables | 40 | €90,834 | €100,528 | +€9,694 | +10.7% |
| Other amounts receivable | 41 | €68,195 | €118,830 | +€50,635 | +74.3% |
| Cash at bank and in hand | 54/58 | €17,198 | €8,175 | -€9,023 | -52.5% |
| Deferred charges and accrued income | 490/1 | €27,336 | €2,520 | -€24,816 | -90.8% |
| Total equity and liabilities | 10/49 | €428,985 | €466,915 | +€37,930 | +8.8% |
| Equity | 10/15 | €99,510 | €118,034 | +€18,524 | +18.6% |
| Contributions | 10/11 | €30,987 | €30,987 | -€0 | 0.0% |
| Capital | 10 | €30,987 | - | -€30,987 | |
| Issued capital | 100 | €30,987 | - | -€30,987 | |
| Uncalled capital | 101 | €0 | - | = | |
| Contributions outside capital | 11 | €0 | - | = | |
| Reserves | 13 | €3,099 | €87,048 | +€83,949 | +2,709% |
| Non-distributable reserves | 130/1 | €3,099 | €3,099 | -€0 | 0.0% |
| Legal reserve | 130 | €3,099 | - | -€3,099 | |
| Reserves not available under the articles | 1311 | - | €3,099 | +€3,099 | |
| Distributable reserves | 133 | - | €83,949 | +€83,949 | |
| Profit (loss) carried forward | 14 | €65,424 | - | -€65,424 | |
| Amounts payable | 17/49 | €329,475 | €348,881 | +€19,406 | +5.9% |
| Amounts payable after more than one year | 17 | €59,780 | - | -€59,780 | |
| Financial debts | 170/4 | €59,780 | - | -€59,780 | |
| Amounts payable within one year | 42/48 | €264,700 | €348,881 | +€84,181 | +31.8% |
| Current portion of amounts payable after more than one year | 42 | €31,693 | - | -€31,693 | |
| Financial debts | 43 | €57 | €9,896 | +€9,839 | +17,262% |
| Credit institutions | 430/8 | €57 | €9,896 | +€9,839 | +17,262% |
| Trade debts | 44 | €219,442 | €79,181 | -€140,261 | -63.9% |
| Suppliers | 440/4 | €219,442 | €79,181 | -€140,261 | -63.9% |
| Advances received on contracts in progress | 46 | €5,252 | €5,253 | +€1 | 0.0% |
| Taxes, remuneration and social security | 45 | €8,256 | €14,926 | +€6,670 | +80.8% |
| Taxes | 450/3 | €786 | €14,208 | +€13,422 | +1,708% |
| Remuneration and social security | 454/9 | €7,470 | €718 | -€6,752 | -90.4% |
| Other amounts payable | 47/48 | - | €239,624 | +€239,624 | |
| Accrued charges and deferred income | 492/3 | €4,995 | - | -€4,995 | |
| Turnover | 70 | €848,527 | - | -€848,527 | |
| Goods, raw materials, services and sundry goods | 60/61 | €805,274 | - | -€805,274 | |
| Remuneration, social security and pensions | 62 | €48,787 | €47,468 | -€1,319 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,281 | €7,854 | -€4,427 | -36.0% |
| Other operating charges | 640/8 | €11,576 | €5,042 | -€6,534 | -56.4% |
| Gross operating margin | 9900 | €56,894 | €67,180 | +€10,286 | +18.1% |
| Operating profit (loss) | 9901 | -€15,750 | €6,816 | +€22,566 | |
| Financial income | 75/76B | €48 | €78 | +€30 | +63.5% |
| Recurring financial income | 75 | €48 | €78 | +€30 | +63.5% |
| Non-recurring financial income | 76B | €48 | - | -€48 | |
| Financial charges | 65/66B | €11,714 | €6,386 | -€5,328 | -45.5% |
| Recurring financial charges | 65 | €11,714 | €6,386 | -€5,328 | -45.5% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | -€27,416 | €508 | +€27,924 | |
| Income taxes | 67/77 | €1 | €270 | +€269 | +26,868% |
| Profit (loss) for the period | 9904 | -€27,417 | €238 | +€27,655 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,417 | €238 | +€27,655 |
Source: filed annual accounts (NBB), financial years ended 31 December 2022 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.