I.P.C.: 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.
I.P.C.
Largest movements
- Receivables within one year +€49,643
up €49,643 (+49.3%), from €100,613 to €150,256
of which Other amounts receivable: +€47,543
- Deferred charges and accrued income -€9,280
down €9,280 (-81.7%), from €11,359 to €2,079
- Intangible fixed assets +€8,660
new in 2025: €8,660
- Tax, wage and social debts +€43,028
up €43,028 (+145.5%), from €29,567 to €72,595
of which Remuneration and social security: +€42,018
- Other debts +€35,732
new in 2025: €35,732
- Reserves -€29,755
down €29,755 (-40.9%), from €72,772 to €43,018
- Trade debts +€3,666
up €3,666 (+16.8%), from €21,781 to €25,447
- Gross operating margin -€81,100
down €81,100 (-21.5%), from €376,698 to €295,598
- Staff costs +€37,151
up €37,151 (+13.9%), from €268,081 to €305,232
- Taxes -€20,529
down €20,529 (-100.0%), from €20,529 to €0
- Depreciation +€4,066
up €4,066 (+29.8%), from €13,640 to €17,706
- Financial income +€3,976
up €3,976 (+191.6%), from €2,076 to €6,052
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €140,823 | €191,711 | +€50,887 | +36.1% |
| Fixed assets | 21/28 | €28,851 | €39,376 | +€10,524 | +36.5% |
| Intangible fixed assets | 21 | - | €8,660 | +€8,660 | |
| Tangible fixed assets | 22/27 | €28,851 | €30,716 | +€1,864 | +6.5% |
| Plant, machinery and equipment | 23 | €23,604 | €21,919 | -€1,686 | -7.1% |
| Furniture and vehicles | 24 | €5,247 | €8,797 | +€3,550 | +67.7% |
| Current assets | 29/58 | €111,972 | €152,335 | +€40,363 | +36.0% |
| Amounts receivable within one year | 40/41 | €100,613 | €150,256 | +€49,643 | +49.3% |
| Trade receivables | 40 | €1,185 | €3,285 | +€2,100 | +177.2% |
| Other amounts receivable | 41 | €99,428 | €146,971 | +€47,543 | +47.8% |
| Deferred charges and accrued income | 490/1 | €11,359 | €2,079 | -€9,280 | -81.7% |
| Total equity and liabilities | 10/49 | €140,823 | €191,711 | +€50,887 | +36.1% |
| Equity | 10/15 | €74,632 | €44,878 | -€29,755 | -39.9% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €72,772 | €43,018 | -€29,755 | -40.9% |
| Distributable reserves | 133 | €72,772 | €43,018 | -€29,755 | -40.9% |
| Amounts payable | 17/49 | €66,191 | €146,833 | +€80,642 | +121.8% |
| Amounts payable within one year | 42/48 | €66,191 | €146,833 | +€80,642 | +121.8% |
| Financial debts | 43 | €14,843 | €13,058 | -€1,784 | -12.0% |
| Credit institutions | 430/8 | €14,843 | €13,058 | -€1,784 | -12.0% |
| Trade debts | 44 | €21,781 | €25,447 | +€3,666 | +16.8% |
| Suppliers | 440/4 | €21,781 | €25,447 | +€3,666 | +16.8% |
| Taxes, remuneration and social security | 45 | €29,567 | €72,595 | +€43,028 | +145.5% |
| Taxes | 450/3 | €21,440 | €22,450 | +€1,010 | +4.7% |
| Remuneration and social security | 454/9 | €8,127 | €50,145 | +€42,018 | +517.0% |
| Other amounts payable | 47/48 | - | €35,732 | +€35,732 | |
| Remuneration, social security and pensions | 62 | €268,081 | €305,232 | +€37,151 | +13.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,640 | €17,706 | +€4,066 | +29.8% |
| Other operating charges | 640/8 | €1,518 | €5,398 | +€3,880 | +255.6% |
| Gross operating margin | 9900 | €376,698 | €295,598 | -€81,100 | -21.5% |
| Operating profit (loss) | 9901 | €93,459 | -€32,738 | -€126,197 | |
| Financial income | 75/76B | €2,076 | €6,052 | +€3,976 | +191.6% |
| Recurring financial income | 75 | €2,076 | €6,052 | +€3,976 | +191.6% |
| Financial charges | 65/66B | €2,233 | €3,068 | +€835 | +37.4% |
| Recurring financial charges | 65 | €2,233 | €3,068 | +€835 | +37.4% |
| Profit (loss) for the period before taxes | 9903 | €93,301 | -€29,755 | -€123,056 | |
| Income taxes | 67/77 | €20,529 | €0 | -€20,529 | -100.0% |
| Profit (loss) for the period | 9904 | €72,772 | -€29,755 | -€102,527 | |
| Profit (loss) for the period to be appropriated | 9905 | €72,772 | -€29,755 | -€102,527 |
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 9 October 2026 via checked.be.