IP FAB: 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.
IP FAB
Largest movements
- Intangible fixed assets +€319,741
up €319,741 (+23,175%), from €1,380 to €321,121
- Cash -€122,027
down €122,027 (-67.0%), from €182,052 to €60,026
mainly Investment in fixed assets (net) (-€373,071) and Deferred charges and accrued income (-€11,228)
- Receivables within one year -€31,384
down €31,384 (-40.8%), from €76,947 to €45,564
of which Other amounts receivable: -€18,162
- Deferred charges and accrued income +€11,228
up €11,228 (+30.4%), from €36,914 to €48,142
- Receivables after one year +€11,009
new in 2025: €11,009
- Reserves +€119,292
up €119,292 (+92.9%), from €128,426 to €247,718
- Trade debts +€40,313
up €40,313 (+43.0%), from €93,704 to €134,017
- Debts after one year +€27,571
up €27,571 (+19.5%), from €141,390 to €168,960
- Current portion of long-term debt +€9,709
up €9,709 (+58.8%), from €16,512 to €26,221
- Tax, wage and social debts -€7,407
down €7,407 (-31.1%), from €23,780 to €16,373
of which Remuneration and social security: -€7,150
- Gross operating margin +€136,400
up €136,400 (+168%), from €81,259 to €217,659
- Staff costs -€69,899
down €69,899 (-63.2%), from €110,524 to €40,625
- Depreciation +€18,870
up €18,870 (+61.3%), from €30,784 to €49,654
- Taxes -€11,009
down €11,009, from €0 to -€11,009
- Financial charges +€9,479
up €9,479 (+142%), from €6,658 to €16,138
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.
Derived cash bridge
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 | €410,200 | €602,443 | +€192,243 | +46.9% |
| Fixed assets | 21/28 | €114,286 | €437,703 | +€323,417 | +283% |
| Intangible fixed assets | 21 | €1,380 | €321,121 | +€319,741 | +23,175% |
| Tangible fixed assets | 22/27 | €112,742 | €116,417 | +€3,675 | +3.3% |
| Land and buildings | 22 | €10,062 | €8,719 | -€1,344 | -13.4% |
| Plant, machinery and equipment | 23 | €98,321 | €104,490 | +€6,169 | +6.3% |
| Furniture and vehicles | 24 | €4,358 | €3,208 | -€1,151 | -26.4% |
| Financial fixed assets | 28 | €165 | €165 | = | 0.0% |
| Current assets | 29/58 | €295,914 | €164,740 | -€131,173 | -44.3% |
| Amounts receivable after more than one year | 29 | - | €11,009 | +€11,009 | |
| Other amounts receivable | 291 | - | €11,009 | +€11,009 | |
| Amounts receivable within one year | 40/41 | €76,947 | €45,564 | -€31,384 | -40.8% |
| Trade receivables | 40 | €46,769 | €33,547 | -€13,222 | -28.3% |
| Other amounts receivable | 41 | €30,178 | €12,017 | -€18,162 | -60.2% |
| Cash at bank and in hand | 54/58 | €182,052 | €60,026 | -€122,027 | -67.0% |
| Deferred charges and accrued income | 490/1 | €36,914 | €48,142 | +€11,228 | +30.4% |
| Total equity and liabilities | 10/49 | €410,200 | €602,443 | +€192,243 | +46.9% |
| Equity | 10/15 | €130,426 | €249,718 | +€119,292 | +91.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €128,426 | €247,718 | +€119,292 | +92.9% |
| Distributable reserves | 133 | €128,426 | €247,718 | +€119,292 | +92.9% |
| Amounts payable | 17/49 | €279,774 | €352,726 | +€72,951 | +26.1% |
| Amounts payable after more than one year | 17 | €141,390 | €168,960 | +€27,571 | +19.5% |
| Financial debts | 170/4 | €141,390 | €168,960 | +€27,571 | +19.5% |
| Amounts payable within one year | 42/48 | €138,385 | €183,765 | +€45,381 | +32.8% |
| Current portion of amounts payable after more than one year | 42 | €16,512 | €26,221 | +€9,709 | +58.8% |
| Financial debts | 43 | €2,541 | €1,307 | -€1,234 | -48.6% |
| Credit institutions | 430/8 | €2,541 | €1,307 | -€1,234 | -48.6% |
| Trade debts | 44 | €93,704 | €134,017 | +€40,313 | +43.0% |
| Suppliers | 440/4 | €93,704 | €134,017 | +€40,313 | +43.0% |
| Taxes, remuneration and social security | 45 | €23,780 | €16,373 | -€7,407 | -31.1% |
| Taxes | 450/3 | €258 | - | -€258 | |
| Remuneration and social security | 454/9 | €23,522 | €16,373 | -€7,150 | -30.4% |
| Other amounts payable | 47/48 | €1,848 | €5,848 | +€4,000 | +216% |
| Non-recurring operating income | 76A | - | €789 | +€789 | |
| Remuneration, social security and pensions | 62 | €110,524 | €40,625 | -€69,899 | -63.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,784 | €49,654 | +€18,870 | +61.3% |
| Other operating charges | 640/8 | €1,190 | €4,846 | +€3,656 | +307% |
| Gross operating margin | 9900 | €81,259 | €217,659 | +€136,400 | +168% |
| Operating profit (loss) | 9901 | -€61,240 | €122,534 | +€183,773 | |
| Financial income | 75/76B | €5,852 | €1,887 | -€3,966 | -67.8% |
| Recurring financial income | 75 | €5,852 | €1,887 | -€3,966 | -67.8% |
| Financial charges | 65/66B | €6,658 | €16,138 | +€9,479 | +142% |
| Recurring financial charges | 65 | €6,658 | €16,138 | +€9,479 | +142% |
| Profit (loss) for the period before taxes | 9903 | -€62,046 | €108,283 | +€170,328 | |
| Income taxes | 67/77 | €0 | -€11,009 | -€11,009 | |
| Profit (loss) for the period | 9904 | -€62,046 | €119,292 | +€181,338 | |
| Profit (loss) for the period to be appropriated | 9905 | -€62,046 | €119,292 | +€181,338 |
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 28 October 2026 via checked.be.