IVW-CONSULT: 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.
IVW-CONSULT
Largest movements
- Cash +€13,109
up €13,109 (+14.0%), from €93,418 to €106,527
mainly Net result for the year (+€18,759) and Trade debts (+€4,546)
- Receivables within one year -€3,835
down €3,835 (-45.3%), from €8,475 to €4,640
of which Trade receivables: -€3,835
- Reserves +€8,759
up €8,759 (+16.2%), from €54,085 to €62,844
of which Distributable reserves: +€8,759
- Trade debts +€4,546
up €4,546 (+55.9%), from €8,130 to €12,676
- Other debts -€4,455
down €4,455 (-38.0%), from €11,735 to €7,280
- Gross operating margin +€8,152
up €8,152 (+18.6%), from €43,873 to €52,025
- Taxes +€3,211
up €3,211 (+54.5%), from €5,889 to €9,100
- Other operating charges -€671
down €671 (-31.7%), from €2,115 to €1,443
- Depreciation -€562
down €562 (-72.6%), from €775 to €212
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 | €108,488 | €116,788 | +€8,300 | +7.7% |
| Fixed assets | 21/28 | €4,424 | €4,212 | -€212 | -4.8% |
| Tangible fixed assets | 22/27 | €212 | €0 | -€212 | -100% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €212 | €0 | -€212 | -100% |
| Financial fixed assets | 28 | €4,212 | €4,212 | = | 0.0% |
| Current assets | 29/58 | €104,064 | €112,577 | +€8,513 | +8.2% |
| Amounts receivable within one year | 40/41 | €8,475 | €4,640 | -€3,835 | -45.3% |
| Trade receivables | 40 | €8,475 | €4,640 | -€3,835 | -45.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €93,418 | €106,527 | +€13,109 | +14.0% |
| Deferred charges and accrued income | 490/1 | €2,171 | €1,410 | -€761 | -35.1% |
| Total equity and liabilities | 10/49 | €108,488 | €116,788 | +€8,300 | +7.7% |
| Equity | 10/15 | €72,685 | €81,444 | +€8,759 | +12.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €54,085 | €62,844 | +€8,759 | +16.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Other | 1319 | €0 | - | = | |
| Distributable reserves | 133 | €54,085 | €62,844 | +€8,759 | +16.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €35,803 | €35,345 | -€458 | -1.3% |
| Amounts payable within one year | 42/48 | €35,803 | €35,345 | -€458 | -1.3% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €8,130 | €12,676 | +€4,546 | +55.9% |
| Suppliers | 440/4 | €8,130 | €12,676 | +€4,546 | +55.9% |
| Taxes, remuneration and social security | 45 | €15,938 | €15,389 | -€549 | -3.4% |
| Taxes | 450/3 | €9,413 | €8,884 | -€530 | -5.6% |
| Remuneration and social security | 454/9 | €6,525 | €6,506 | -€20 | -0.3% |
| Other amounts payable | 47/48 | €11,735 | €7,280 | -€4,455 | -38.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €23,119 | €22,982 | -€137 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €775 | €212 | -€562 | -72.6% |
| Other operating charges | 640/8 | €2,115 | €1,443 | -€671 | -31.7% |
| Non-recurring operating charges | 66A | €2,255 | €0 | -€2,255 | -100% |
| Gross operating margin | 9900 | €43,873 | €52,025 | +€8,152 | +18.6% |
| Operating profit (loss) | 9901 | €15,610 | €27,387 | +€11,778 | +75.5% |
| Financial income | 75/76B | €314 | €637 | +€323 | +103% |
| Recurring financial income | 75 | €314 | €637 | +€323 | +103% |
| Financial charges | 65/66B | €595 | €165 | -€430 | -72.2% |
| Recurring financial charges | 65 | €595 | €165 | -€430 | -72.2% |
| Profit (loss) for the period before taxes | 9903 | €15,328 | €27,859 | +€12,531 | +81.8% |
| Income taxes | 67/77 | €5,889 | €9,100 | +€3,211 | +54.5% |
| Profit (loss) for the period | 9904 | €9,439 | €18,759 | +€9,320 | +98.7% |
| Profit (loss) for the period to be appropriated | 9905 | €9,439 | €18,759 | +€9,320 | +98.7% |
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 19 October 2026 via checked.be.