IP Belgium: 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.
IP Belgium
Largest movements
- Receivables within one year +€315,716
up €315,716 (+65.2%), from €484,440 to €800,157
of which Trade receivables: +€315,716
- Cash -€152,391
down €152,391 (-18.7%), from €814,636 to €662,245
mainly Receivables within one year (-€315,716) and Investment in fixed assets (net) (-€155,877)
- Tangible fixed assets +€141,270
up €141,270 (+5011.6%), from €2,819 to €144,089
of which Furniture and vehicles: +€71,380
- Trade debts +€263,831
up €263,831 (+28.1%), from €937,998 to €1.2m
- Tax, wage and social debts +€28,451
up €28,451 (+246.9%), from €11,523 to €39,974
- Profit (loss) carried forward +€19,856
up €19,856 (+88.6%), from €22,411 to €42,267
- Gross operating margin +€22,127
up €22,127 (+98.8%), from €22,400 to €44,527
- Depreciation +€11,822
up €11,822 (+424.6%), from €2,784 to €14,606
- Other operating charges +€1,122
up €1,122 (+202.7%), from €553 to €1,675
- Taxes +€1,098
up €1,098 (+17.3%), from €6,358 to €7,456
- Financial charges -€896
down €896 (-47.9%), from €1,872 to €975
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,301,909 | €1,606,491 | +€304,582 | +23.4% |
| Fixed assets | 21/28 | €2,819 | €144,089 | +€141,270 | +5011.6% |
| Tangible fixed assets | 22/27 | €2,819 | €144,089 | +€141,270 | +5011.6% |
| Plant, machinery and equipment | 23 | €250 | €70,141 | +€69,891 | +27956.2% |
| Furniture and vehicles | 24 | €2,569 | €73,949 | +€71,380 | +2778.6% |
| Current assets | 29/58 | €1,299,091 | €1,462,402 | +€163,311 | +12.6% |
| Amounts receivable within one year | 40/41 | €484,440 | €800,157 | +€315,716 | +65.2% |
| Trade receivables | 40 | €167,380 | €483,097 | +€315,716 | +188.6% |
| Other amounts receivable | 41 | €317,060 | €317,060 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €814,636 | €662,245 | -€152,391 | -18.7% |
| Deferred charges and accrued income | 490/1 | €14 | - | -€14 | |
| Total equity and liabilities | 10/49 | €1,301,909 | €1,606,491 | +€304,582 | +23.4% |
| Equity | 10/15 | €28,611 | €48,467 | +€19,856 | +69.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,411 | €42,267 | +€19,856 | +88.6% |
| Amounts payable | 17/49 | €1,273,298 | €1,558,024 | +€284,726 | +22.4% |
| Amounts payable within one year | 42/48 | €1,257,597 | €1,549,880 | +€292,282 | +23.2% |
| Trade debts | 44 | €937,998 | €1,201,829 | +€263,831 | +28.1% |
| Suppliers | 440/4 | €937,998 | €1,201,829 | +€263,831 | +28.1% |
| Taxes, remuneration and social security | 45 | €11,523 | €39,974 | +€28,451 | +246.9% |
| Taxes | 450/3 | €11,523 | €39,974 | +€28,451 | +246.9% |
| Other amounts payable | 47/48 | €308,076 | €308,076 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €15,701 | €8,145 | -€7,556 | -48.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,784 | €14,606 | +€11,822 | +424.6% |
| Other operating charges | 640/8 | €553 | €1,675 | +€1,122 | +202.7% |
| Gross operating margin | 9900 | €22,400 | €44,527 | +€22,127 | +98.8% |
| Operating profit (loss) | 9901 | €19,063 | €28,246 | +€9,183 | +48.2% |
| Financial income | 75/76B | €617 | €41 | -€576 | -93.3% |
| Recurring financial income | 75 | €617 | €41 | -€576 | -93.3% |
| Financial charges | 65/66B | €1,872 | €975 | -€896 | -47.9% |
| Recurring financial charges | 65 | €1,872 | €975 | -€896 | -47.9% |
| Profit (loss) for the period before taxes | 9903 | €17,808 | €27,312 | +€9,504 | +53.4% |
| Income taxes | 67/77 | €6,358 | €7,456 | +€1,098 | +17.3% |
| Profit (loss) for the period | 9904 | €11,449 | €19,856 | +€8,406 | +73.4% |
| Profit (loss) for the period to be appropriated | 9905 | €11,449 | €19,856 | +€8,406 | +73.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 April 2025 and 30 April 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.