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IVIC: 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

IVIC

BE 0769.540.491
NACE 86.951, Physiotherapy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€32,372
2024 · €28,561-€60,933
Equity
€78,757
2024 · €111,128-€32,372
Cash
€56,169
2024 · €44,314+€11,855
Balance sheet total
€956,707
2024 · €1.0m-€82,469

Largest movements

2024 to 2025
Assets
  • Tangible fixed assets -€64,426

    down €64,426 (-11.9%), from €540,197 to €475,770

    of which Other tangible fixed assets: -€40,179

  • Receivables within one year -€37,883

    down €37,883 (-35.9%), from €105,585 to €67,702

    of which Trade receivables: -€37,596

  • Cash +€11,855

    up €11,855 (+26.8%), from €44,314 to €56,169

    mainly Depreciation (+€67,468) and Accrued charges and deferred income (+€56,457)

  • Deferred charges and accrued income +€11,027

    up €11,027 (+292%), from €3,772 to €14,799

Equity and liabilities
  • Debts after one year -€102,039

    down €102,039 (-13.3%), from €764,610 to €662,571

    of which Financial debts: -€102,039

  • Accrued charges and deferred income +€56,457

    up €56,457 (+191%), from €29,612 to €86,068

  • Profit (loss) carried forward -€32,372

    down €32,372 (-233%), from -€13,872 to -€46,243

Income statement
  • Financial charges +€37,890

    up €37,890 (+157%), from €24,159 to €62,049

  • Gross operating margin -€36,930

    down €36,930 (-27.0%), from €137,015 to €100,085

  • Financial income +€7,109

    up €7,109 (+202%), from €3,511 to €10,620

  • Staff costs -€6,421

    down €6,421 (-100%), from €6,421 to €0

From the 2024 result to the 2025 result

effect on the 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 €28,561
Gross operating margin -€36,930
Staff costs +€6,421
Depreciation -€341
Other operating charges +€688
Financial income +€7,109
Financial charges -€37,890
Taxes +€10
Result 2025 -€32,372
raises the resultlowers the result

Derived cash bridge

cash 2024 to 2025

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 +€112,325
Investment €0
Financing -€100,470
Cash 2024 €44,314
Net result for the year -€32,372
Depreciation +€67,468
Receivables within one year +€37,883
Deferred charges and accrued income -€11,027
Trade debts -€861
Tax, wage and social debts -€5,223
Accrued charges and deferred income +€56,457
Debts after one year -€102,039
Current portion of long-term debt +€1,570
Cash 2025 €56,169
brings cash intakes cash out
Every line side by side 48 lines
Line Code 2024 2025 Change %
Total assets 20/58 €1,039,177 €956,707 -€82,469 -7.9%
Fixed assets 21/28 €735,506 €668,037 -€67,468 -9.2%
Intangible fixed assets 21 €5,309 €2,267 -€3,042 -57.3%
Tangible fixed assets 22/27 €540,197 €475,770 -€64,426 -11.9%
Plant, machinery and equipment 23 €41,359 €17,500 -€23,859 -57.7%
Furniture and vehicles 24 €1,118 €729 -€388 -34.7%
Other tangible fixed assets 26 €497,720 €457,541 -€40,179 -8.1%
Financial fixed assets 28 €190,000 €190,000 = 0.0%
Current assets 29/58 €303,671 €288,670 -€15,001 -4.9%
Amounts receivable after more than one year 29 €150,000 €150,000 = 0.0%
Other amounts receivable 291 €150,000 €150,000 = 0.0%
Amounts receivable within one year 40/41 €105,585 €67,702 -€37,883 -35.9%
Trade receivables 40 €105,175 €67,579 -€37,596 -35.7%
Other amounts receivable 41 €410 €123 -€287 -70.0%
Cash at bank and in hand 54/58 €44,314 €56,169 +€11,855 +26.8%
Deferred charges and accrued income 490/1 €3,772 €14,799 +€11,027 +292%
Total equity and liabilities 10/49 €1,039,177 €956,707 -€82,469 -7.9%
Equity 10/15 €111,128 €78,757 -€32,372 -29.1%
Contributions 10/11 €125,000 €125,000 = 0.0%
Capital 10 €125,000 €125,000 = 0.0%
Issued capital 100 €125,000 €125,000 = 0.0%
Profit (loss) carried forward 14 -€13,872 -€46,243 -€32,372 -233%
Amounts payable 17/49 €928,048 €877,951 -€50,097 -5.4%
Amounts payable after more than one year 17 €764,610 €662,571 -€102,039 -13.3%
Financial debts 170/4 €275,660 €173,621 -€102,039 -37.0%
Other amounts payable 178/9 €488,950 €488,950 = 0.0%
Amounts payable within one year 42/48 €133,826 €129,312 -€4,515 -3.4%
Current portion of amounts payable after more than one year 42 €100,470 €102,039 +€1,570 +1.6%
Trade debts 44 €14,133 €13,272 -€861 -6.1%
Suppliers 440/4 €14,133 €13,272 -€861 -6.1%
Taxes, remuneration and social security 45 €17,798 €12,575 -€5,223 -29.3%
Taxes 450/3 €17,798 €12,575 -€5,223 -29.3%
Remuneration and social security 454/9 €0 - =
Other amounts payable 47/48 €1,425 €1,425 = 0.0%
Accrued charges and deferred income 492/3 €29,612 €86,068 +€56,457 +191%
Remuneration, social security and pensions 62 €6,421 €0 -€6,421 -100%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets 630 €67,127 €67,468 +€341 +0.5%
Other operating charges 640/8 €14,149 €13,461 -€688 -4.9%
Gross operating margin 9900 €137,015 €100,085 -€36,930 -27.0%
Operating profit (loss) 9901 €49,318 €19,156 -€30,162 -61.2%
Financial income 75/76B €3,511 €10,620 +€7,109 +202%
Recurring financial income 75 €3,511 €10,620 +€7,109 +202%
Financial charges 65/66B €24,159 €62,049 +€37,890 +157%
Recurring financial charges 65 €24,159 €62,049 +€37,890 +157%
Profit (loss) for the period before taxes 9903 €28,670 -€32,273 -€60,943
Income taxes 67/77 €108 €99 -€10 -8.9%
Profit (loss) for the period 9904 €28,561 -€32,372 -€60,933
Profit (loss) for the period to be appropriated 9905 €28,561 -€32,372 -€60,933

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 18 October 2026 via checked.be.