I.P.D.: 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.
I.P.D.
Largest movements
- Tangible fixed assets +€313,218
up €313,218 (+75.4%), from €415,628 to €728,846
of which Assets under construction and advance payments: +€313,218
- Cash -€62,422
down €62,422 (-81.6%), from €76,464 to €14,042
mainly Investment in fixed assets (net) (-€313,218) and Net result for the year (-€4,126)
- Other debts +€250,000
up €250,000, from €0 to €250,000
- Gross operating margin +€5,475
up €5,475 (+63.2%), from -€8,661 to -€3,185
- Financial income -€1,972
down €1,972 (-100.0%), from €1,972 to €0
- Other operating charges -€186
down €186 (-32.4%), from €573 to €387
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 | €498,639 | €742,888 | +€244,250 | +49.0% |
| Fixed assets | 21/28 | €415,628 | €728,846 | +€313,218 | +75.4% |
| Tangible fixed assets | 22/27 | €415,628 | €728,846 | +€313,218 | +75.4% |
| Land and buildings | 22 | €170,470 | €170,470 | = | 0.0% |
| Assets under construction and advance payments | 27 | €245,158 | €558,376 | +€313,218 | +127.8% |
| Current assets | 29/58 | €83,011 | €14,042 | -€68,969 | -83.1% |
| Amounts receivable within one year | 40/41 | €6,547 | €0 | -€6,547 | -100.0% |
| Trade receivables | 40 | €2,723 | €0 | -€2,723 | -100.0% |
| Other amounts receivable | 41 | €3,825 | €0 | -€3,825 | -100.0% |
| Cash at bank and in hand | 54/58 | €76,464 | €14,042 | -€62,422 | -81.6% |
| Total equity and liabilities | 10/49 | €498,639 | €742,888 | +€244,250 | +49.0% |
| Equity | 10/15 | €497,015 | €492,888 | -€4,126 | -0.8% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Capital | 10 | €500,000 | €500,000 | = | 0.0% |
| Issued capital | 100 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €52,448 | €52,448 | = | 0.0% |
| Non-distributable reserves | 130/1 | €50,000 | €50,000 | = | 0.0% |
| Legal reserve | 130 | €50,000 | €50,000 | = | 0.0% |
| Distributable reserves | 133 | €2,448 | €2,448 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€55,434 | -€59,560 | -€4,126 | -7.4% |
| Amounts payable | 17/49 | €1,624 | €250,000 | +€248,376 | +15291.8% |
| Amounts payable within one year | 42/48 | €1,624 | €250,000 | +€248,376 | +15291.8% |
| Trade debts | 44 | €1,624 | €0 | -€1,624 | -100.0% |
| Suppliers | 440/4 | €1,624 | €0 | -€1,624 | -100.0% |
| Other amounts payable | 47/48 | €0 | €250,000 | +€250,000 | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €573 | €387 | -€186 | -32.4% |
| Gross operating margin | 9900 | -€8,661 | -€3,185 | +€5,475 | +63.2% |
| Operating profit (loss) | 9901 | -€9,234 | -€3,573 | +€5,661 | +61.3% |
| Financial income | 75/76B | €1,972 | €0 | -€1,972 | -100.0% |
| Recurring financial income | 75 | €1,972 | €0 | -€1,972 | -100.0% |
| Financial charges | 65/66B | €535 | €553 | +€18 | +3.4% |
| Recurring financial charges | 65 | €535 | €553 | +€18 | +3.4% |
| Profit (loss) for the period before taxes | 9903 | -€7,797 | -€4,126 | +€3,671 | +47.1% |
| Profit (loss) for the period | 9904 | -€7,797 | -€4,126 | +€3,671 | +47.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,797 | -€4,126 | +€3,671 | +47.1% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.