INTEGRATED PAGING SYSTEMS: what changed
What changed
INTEGRATED PAGING SYSTEMS
NACE 43.211, General electrical installation work
filed annual accounts (NBB)
Net result for the year
€37,019
2024 · €56,631-€19,612
Equity
€88,095
2024 · €88,076+€19
Cash
€126,785
2024 · €108,915+€17,870
Balance sheet total
€167,964
2024 · €178,815-€10,851
Largest movements
Assets
- Receivables within one year -€31,187
down €31,187 (-64.9%), from €48,079 to €16,893
of which Trade receivables: -€32,996
- Cash +€17,870
up €17,870 (+16.4%), from €108,915 to €126,785
mainly Net result for the year (+€37,019) and Receivables within one year (+€31,187)
- Stocks and contracts +€2,962
up €2,962 (+15.1%), from €19,657 to €22,619
Equity and liabilities
- Trade debts +€25,653
up €25,653 (+189%), from €13,562 to €39,216
- Accrued charges and deferred income -€18,123
down €18,123 (-93.1%), from €19,473 to €1,350
- Other debts -€17,933
down €17,933 (-32.3%), from €55,445 to €37,512
Income statement
- Gross operating margin -€26,359
down €26,359 (-42.1%), from €62,662 to €36,303
- Financial income +€3,209
up €3,209 (+166%), from €1,936 to €5,145
- Financial charges -€1,257
down €1,257 (-36.7%), from €3,427 to €2,170
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€56,631
Gross operating margin
-€26,359
Depreciation
-€37
Other operating charges
+€267
Other operating items
+€1,487
Financial income
+€3,209
Financial charges
+€1,257
Taxes
+€564
Result 2025
€37,019
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€54,870
Investment
€0
Financing
-€37,000
Cash 2024
€108,915
From operations (derived)
+€54,870
Net result for the year
+€37,019
Depreciation
+€618
Stocks and contracts
-€2,962
Receivables within one year
+€31,187
Deferred charges and accrued income
-€121
Trade debts
+€25,653
Tax, wage and social debts
-€1,056
Advances received
+€589
Other debts
-€17,933
Accrued charges and deferred income
-€18,123
Financing
-€37,000
Contributions, distributions and other
-€37,000
Cash 2025
€126,785
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €178,815 | €167,964 | -€10,851 | -6.1% |
| Fixed assets | 21/28 | €1,838 | €1,220 | -€618 | -33.6% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €1,838 | €1,220 | -€618 | -33.6% |
| Plant, machinery and equipment | 23 | €0 | €0 | = | |
| Furniture and vehicles | 24 | €1,838 | €1,220 | -€618 | -33.6% |
| Other tangible fixed assets | 26 | €0 | €0 | = | |
| Current assets | 29/58 | €176,977 | €166,744 | -€10,233 | -5.8% |
| Stocks and contracts in progress | 3 | €19,657 | €22,619 | +€2,962 | +15.1% |
| Stocks | 30/36 | €19,657 | €22,619 | +€2,962 | +15.1% |
| Amounts receivable within one year | 40/41 | €48,079 | €16,893 | -€31,187 | -64.9% |
| Trade receivables | 40 | €45,439 | €12,443 | -€32,996 | -72.6% |
| Other amounts receivable | 41 | €2,641 | €4,450 | +€1,809 | +68.5% |
| Cash at bank and in hand | 54/58 | €108,915 | €126,785 | +€17,870 | +16.4% |
| Deferred charges and accrued income | 490/1 | €326 | €447 | +€121 | +37.1% |
| Total equity and liabilities | 10/49 | €178,815 | €167,964 | -€10,851 | -6.1% |
| Equity | 10/15 | €88,076 | €88,095 | +€19 | 0.0% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €23,076 | €23,095 | +€19 | +0.1% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Distributable reserves | 133 | €16,576 | €16,595 | +€19 | +0.1% |
| Amounts payable | 17/49 | €90,739 | €79,869 | -€10,870 | -12.0% |
| Amounts payable within one year | 42/48 | €71,266 | €78,519 | +€7,253 | +10.2% |
| Trade debts | 44 | €13,562 | €39,216 | +€25,653 | +189% |
| Suppliers | 440/4 | €13,562 | €39,216 | +€25,653 | +189% |
| Advances received on contracts in progress | 46 | - | €589 | +€589 | |
| Taxes, remuneration and social security | 45 | €2,259 | €1,203 | -€1,056 | -46.7% |
| Taxes | 450/3 | €2,259 | €1,203 | -€1,056 | -46.7% |
| Other amounts payable | 47/48 | €55,445 | €37,512 | -€17,933 | -32.3% |
| Accrued charges and deferred income | 492/3 | €19,473 | €1,350 | -€18,123 | -93.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €580 | €618 | +€37 | +6.4% |
| Other operating charges | 640/8 | €1,588 | €1,321 | -€267 | -16.8% |
| Non-recurring operating charges | 66A | €1,487 | - | -€1,487 | |
| Gross operating margin | 9900 | €62,662 | €36,303 | -€26,359 | -42.1% |
| Operating profit (loss) | 9901 | €59,006 | €34,364 | -€24,642 | -41.8% |
| Financial income | 75/76B | €1,936 | €5,145 | +€3,209 | +166% |
| Recurring financial income | 75 | €1,936 | €5,145 | +€3,209 | +166% |
| Financial charges | 65/66B | €3,427 | €2,170 | -€1,257 | -36.7% |
| Recurring financial charges | 65 | €3,427 | €2,170 | -€1,257 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | €57,514 | €37,338 | -€20,176 | -35.1% |
| Income taxes | 67/77 | €883 | €319 | -€564 | -63.8% |
| Profit (loss) for the period | 9904 | €56,631 | €37,019 | -€19,612 | -34.6% |
| Profit (loss) for the period to be appropriated | 9905 | €56,631 | €37,019 | -€19,612 | -34.6% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.