IVT CONSTRUCT: 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.
IVT CONSTRUCT
Largest movements
- Receivables within one year -€56,351
down €56,351 (-15.5%), from €363,852 to €307,501
of which Trade receivables: -€110,325
- Tangible fixed assets +€15,603
up €15,603 (+109.9%), from €14,191 to €29,795
of which Furniture and vehicles: +€16,412
- Cash -€5,623
down €5,623 (-90.2%), from €6,233 to €610
mainly Trade debts (-€104,646) and Contributions, distributions and other (-€50,000)
- Trade debts -€104,646
down €104,646 (-63.1%), from €165,905 to €61,259
- Other debts +€35,000
new in 2025: €35,000
- Profit (loss) carried forward +€13,768
up €13,768 (+9.6%), from €143,071 to €156,840
- Tax, wage and social debts +€11,106
up €11,106 (+22.3%), from €49,868 to €60,974
of which Taxes: +€10,806
- Depreciation +€8,770
up €8,770 (+262.6%), from €3,340 to €12,109
- Taxes -€4,326
down €4,326 (-17.6%), from €24,643 to €20,317
- Other operating charges +€3,084
up €3,084 (+228.9%), from €1,347 to €4,431
- Gross operating margin +€2,755
up €2,755 (+2.8%), from €98,652 to €101,407
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.
Cash bridge derived
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 | €384,844 | €340,073 | -€44,772 | -11.6% |
| Fixed assets | 21/28 | €14,191 | €30,795 | +€16,603 | +117.0% |
| Tangible fixed assets | 22/27 | €14,191 | €29,795 | +€15,603 | +109.9% |
| Plant, machinery and equipment | 23 | €1,895 | €1,086 | -€809 | -42.7% |
| Furniture and vehicles | 24 | €12,297 | €28,709 | +€16,412 | +133.5% |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €370,653 | €309,278 | -€61,375 | -16.6% |
| Amounts receivable after more than one year | 29 | - | €700 | +€700 | |
| Trade receivables | 290 | - | €700 | +€700 | |
| Amounts receivable within one year | 40/41 | €363,852 | €307,501 | -€56,351 | -15.5% |
| Trade receivables | 40 | €211,311 | €100,986 | -€110,325 | -52.2% |
| Other amounts receivable | 41 | €152,541 | €206,514 | +€53,973 | +35.4% |
| Cash at bank and in hand | 54/58 | €6,233 | €610 | -€5,623 | -90.2% |
| Deferred charges and accrued income | 490/1 | €568 | €467 | -€101 | -17.7% |
| Total equity and liabilities | 10/49 | €384,844 | €340,073 | -€44,772 | -11.6% |
| Equity | 10/15 | €169,071 | €182,840 | +€13,768 | +8.1% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Distributable reserves | 133 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €143,071 | €156,840 | +€13,768 | +9.6% |
| Amounts payable | 17/49 | €215,773 | €157,233 | -€58,540 | -27.1% |
| Amounts payable within one year | 42/48 | €215,773 | €157,233 | -€58,540 | -27.1% |
| Trade debts | 44 | €165,905 | €61,259 | -€104,646 | -63.1% |
| Suppliers | 440/4 | €165,905 | €61,259 | -€104,646 | -63.1% |
| Taxes, remuneration and social security | 45 | €49,868 | €60,974 | +€11,106 | +22.3% |
| Taxes | 450/3 | €49,868 | €60,674 | +€10,806 | +21.7% |
| Remuneration and social security | 454/9 | - | €300 | +€300 | |
| Other amounts payable | 47/48 | - | €35,000 | +€35,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,340 | €12,109 | +€8,770 | +262.6% |
| Other operating charges | 640/8 | €1,347 | €4,431 | +€3,084 | +228.9% |
| Gross operating margin | 9900 | €98,652 | €101,407 | +€2,755 | +2.8% |
| Operating profit (loss) | 9901 | €93,965 | €84,867 | -€9,098 | -9.7% |
| Financial income | 75/76B | €0 | €1 | +€1 | +205.9% |
| Recurring financial income | 75 | €0 | €1 | +€1 | +205.9% |
| Financial charges | 65/66B | €648 | €782 | +€134 | +20.6% |
| Recurring financial charges | 65 | €648 | €782 | +€134 | +20.6% |
| Profit (loss) for the period before taxes | 9903 | €93,317 | €84,086 | -€9,231 | -9.9% |
| Income taxes | 67/77 | €24,643 | €20,317 | -€4,326 | -17.6% |
| Profit (loss) for the period | 9904 | €68,673 | €63,768 | -€4,905 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €68,673 | €63,768 | -€4,905 | -7.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.