Las- en Constructiewerken Ivens: 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.
What changed
Las- en Constructiewerken Ivens
NACE 25.220, Manufacture of fabricated metal products, except machinery and equipment
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€405,394
2024 · -€43,195+€448,589
Equity
-€1.6m
2024 · -€2.0m+€405,394
Cash
€6.3m
2024 · €1.1m+€5.2m
Balance sheet total
€17.3m
2024 · €16.5m+€818,060
Largest movements
Assets
- Cash +€5.2m
up €5.2m (+478%), from €1.1m to €6.3m
mainly Receivables within one year (+€3.5m) and Depreciation (+€1.3m)
- Receivables within one year -€3.5m
down €3.5m (-30.9%), from €11.3m to €7.8m
of which Other amounts receivable: -€4.6m
- Tangible fixed assets -€832,527
down €832,527 (-22.1%), from €3.8m to €2.9m
Equity and liabilities
- Trade debts +€591,257
up €591,257 (+95.5%), from €619,077 to €1.2m
- Profit (loss) carried forward +€405,394
up €405,394 (+17.3%), from -€2.3m to -€1.9m
Income statement
- Depreciation -€646,576
down €646,576 (-33.3%), from €1.9m to €1.3m
- Gross operating margin -€231,007
down €231,007 (-7.3%), from €3.2m to €3.0m
- Other operating charges -€35,177
down €35,177 (-15.0%), from €234,076 to €198,899
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.
Result 2024
-€43,195
Gross operating margin
-€231,007
Staff costs
-€17,359
Depreciation
+€646,576
Other operating charges
+€35,177
Other operating items
+€67
Financial income
-€4
Financial charges
+€15,136
Taxes
+€2
Result 2025
€405,394
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€5.9m
Investment
-€433,760
Financing
-€297,455
Cash 2024
€1.1m
From operations (derived)
+€5.9m
Net result for the year
+€405,394
Depreciation
+€1.3m
Receivables within one year
+€3.5m
Deferred charges and accrued income
+€13,310
Trade debts
+€591,257
Tax, wage and social debts
+€83,050
Other debts
+€129,858
Accrued charges and deferred income
-€94,044
Investment (derived)
-€433,760
Investment in fixed assets (net)
-€433,760
Financing
-€297,455
Debts after one year
-€141,530
Current portion of long-term debt
-€28,473
Short-term financial debts
-€127,451
Cash 2025
€6.3m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €16,502,685 | €17,320,746 | +€818,060 | +5.0% |
| Fixed assets | 21/28 | €3,867,893 | €3,007,754 | -€860,139 | -22.2% |
| Intangible fixed assets | 21 | €90,833 | €63,133 | -€27,700 | -30.5% |
| Tangible fixed assets | 22/27 | €3,771,898 | €2,939,371 | -€832,527 | -22.1% |
| Land and buildings | 22 | €1,690,963 | €1,469,451 | -€221,512 | -13.1% |
| Plant, machinery and equipment | 23 | €1,125,712 | €811,671 | -€314,041 | -27.9% |
| Furniture and vehicles | 24 | €387,660 | €391,112 | +€3,452 | +0.9% |
| Leasing and similar rights | 25 | €567,564 | €267,137 | -€300,427 | -52.9% |
| Financial fixed assets | 28 | €5,163 | €5,251 | +€88 | +1.7% |
| Current assets | 29/58 | €12,634,792 | €14,312,992 | +€1.7m | +13.3% |
| Amounts receivable within one year | 40/41 | €11,340,449 | €7,833,545 | -€3.5m | -30.9% |
| Trade receivables | 40 | €5,753,275 | €6,818,812 | +€1.1m | +18.5% |
| Other amounts receivable | 41 | €5,587,174 | €1,014,733 | -€4.6m | -81.8% |
| Cash at bank and in hand | 54/58 | €1,086,725 | €6,285,139 | +€5.2m | +478% |
| Deferred charges and accrued income | 490/1 | €207,618 | €194,308 | -€13,310 | -6.4% |
| Total equity and liabilities | 10/49 | €16,502,685 | €17,320,746 | +€818,060 | +5.0% |
| Equity | 10/15 | -€1,959,211 | -€1,553,817 | +€405,394 | +20.7% |
| Contributions | 10/11 | €112,000 | €112,000 | = | 0.0% |
| Capital | 10 | €112,000 | €112,000 | = | 0.0% |
| Issued capital | 100 | €112,000 | €112,000 | = | 0.0% |
| Reserves | 13 | €269,265 | €269,265 | = | 0.0% |
| Non-distributable reserves | 130/1 | €17,026 | €17,026 | = | 0.0% |
| Legal reserve | 130 | €11,200 | €11,200 | = | 0.0% |
| Other | 1319 | €5,826 | €5,826 | = | 0.0% |
| Tax-exempt reserves | 132 | €252,239 | €252,239 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,340,476 | -€1,935,082 | +€405,394 | +17.3% |
| Amounts payable | 17/49 | €18,461,896 | €18,874,563 | +€412,667 | +2.2% |
| Amounts payable after more than one year | 17 | €371,356 | €229,826 | -€141,530 | -38.1% |
| Financial debts | 170/4 | €371,356 | €229,826 | -€141,530 | -38.1% |
| Amounts payable within one year | 42/48 | €17,996,496 | €18,644,737 | +€648,241 | +3.6% |
| Current portion of amounts payable after more than one year | 42 | €110,931 | €82,458 | -€28,473 | -25.7% |
| Financial debts | 43 | €1,042,357 | €914,906 | -€127,451 | -12.2% |
| Credit institutions | 430/8 | €1,042,357 | €914,906 | -€127,451 | -12.2% |
| Trade debts | 44 | €619,077 | €1,210,335 | +€591,257 | +95.5% |
| Suppliers | 440/4 | €619,077 | €1,210,335 | +€591,257 | +95.5% |
| Taxes, remuneration and social security | 45 | €107,612 | €190,662 | +€83,050 | +77.2% |
| Taxes | 450/3 | €2,721 | €13,683 | +€10,962 | +403% |
| Remuneration and social security | 454/9 | €104,891 | €176,979 | +€72,088 | +68.7% |
| Other amounts payable | 47/48 | €16,116,518 | €16,246,376 | +€129,858 | +0.8% |
| Accrued charges and deferred income | 492/3 | €94,044 | €0 | -€94,044 | -100% |
| Non-recurring operating income | 76A | €17,768 | €11,032 | -€6,735 | -37.9% |
| Remuneration, social security and pensions | 62 | €964,367 | €981,725 | +€17,359 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,940,475 | €1,293,899 | -€646,576 | -33.3% |
| Other operating charges | 640/8 | €234,076 | €198,899 | -€35,177 | -15.0% |
| Operating charges capitalised as restructuring costs | 649 | €0 | - | = | |
| Non-recurring operating charges | 66A | €67 | - | -€67 | |
| Gross operating margin | 9900 | €3,184,543 | €2,953,536 | -€231,007 | -7.3% |
| Operating profit (loss) | 9901 | €45,559 | €479,013 | +€433,454 | +951% |
| Financial income | 75/76B | €4 | €0 | -€4 | -98.9% |
| Recurring financial income | 75 | €4 | €0 | -€4 | -98.9% |
| Financial charges | 65/66B | €88,070 | €72,934 | -€15,136 | -17.2% |
| Recurring financial charges | 65 | €88,070 | €55,049 | -€33,021 | -37.5% |
| Non-recurring financial charges | 66B | - | €17,886 | +€17,886 | |
| Profit (loss) for the period before taxes | 9903 | -€42,508 | €406,078 | +€448,586 | |
| Income taxes | 67/77 | €687 | €685 | -€2 | -0.3% |
| Profit (loss) for the period | 9904 | -€43,195 | €405,394 | +€448,589 | |
| Profit (loss) for the period to be appropriated | 9905 | -€43,195 | €405,394 | +€448,589 |
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 27 October 2026 via checked.be.