IP INVEST: 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 INVEST
Largest movements
- Receivables within one year +€58,891
up €58,891 (+75.4%), from €78,121 to €137,012
of which Trade receivables: +€57,216
- Other debts +€43,059
up €43,059 (+10.7%), from €402,202 to €445,261
- Reserves +€13,486
up €13,486 (+39.2%), from €34,360 to €47,846
of which Distributable reserves: +€13,486
- Gross operating margin +€25,358
up €25,358, from -€7,494 to €17,865
- Taxes +€2,529
up €2,529 (+1,127%), from €224 to €2,753
- Other operating charges -€893
down €893 (-53.0%), from €1,686 to €793
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 | €453,410 | €512,960 | +€59,551 | +13.1% |
| Fixed assets | 21/28 | €359,420 | €358,661 | -€759 | -0.2% |
| Tangible fixed assets | 22/27 | €2,890 | €2,131 | -€759 | -26.3% |
| Plant, machinery and equipment | 23 | €1,457 | €1,105 | -€352 | -24.2% |
| Furniture and vehicles | 24 | €340 | €61 | -€280 | -82.2% |
| Other tangible fixed assets | 26 | €1,093 | €966 | -€127 | -11.6% |
| Financial fixed assets | 28 | €356,530 | €356,530 | = | 0.0% |
| Current assets | 29/58 | €93,990 | €154,299 | +€60,310 | +64.2% |
| Amounts receivable within one year | 40/41 | €78,121 | €137,012 | +€58,891 | +75.4% |
| Trade receivables | 40 | €77,350 | €134,566 | +€57,216 | +74.0% |
| Other amounts receivable | 41 | €771 | €2,446 | +€1,675 | +217% |
| Cash at bank and in hand | 54/58 | €1,081 | €2,156 | +€1,076 | +99.5% |
| Deferred charges and accrued income | 490/1 | €14,788 | €15,131 | +€343 | +2.3% |
| Total equity and liabilities | 10/49 | €453,410 | €512,960 | +€59,551 | +13.1% |
| Equity | 10/15 | €49,444 | €62,930 | +€13,486 | +27.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €34,360 | €47,846 | +€13,486 | +39.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €32,500 | €45,986 | +€13,486 | +41.5% |
| Profit (loss) carried forward | 14 | €2,684 | €2,684 | = | 0.0% |
| Amounts payable | 17/49 | €403,966 | €450,030 | +€46,065 | +11.4% |
| Amounts payable within one year | 42/48 | €403,966 | €450,030 | +€46,065 | +11.4% |
| Trade debts | 44 | €1,113 | €1,772 | +€659 | +59.2% |
| Suppliers | 440/4 | €1,113 | €1,772 | +€659 | +59.2% |
| Taxes, remuneration and social security | 45 | €651 | €2,998 | +€2,347 | +361% |
| Taxes | 450/3 | €651 | €2,998 | +€2,347 | +361% |
| Other amounts payable | 47/48 | €402,202 | €445,261 | +€43,059 | +10.7% |
| Non-recurring operating income | 76A | €2 | €0 | -€2 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €712 | €759 | +€47 | +6.6% |
| Other operating charges | 640/8 | €1,686 | €793 | -€893 | -53.0% |
| Non-recurring operating charges | 66A | €63 | €0 | -€63 | -100% |
| Gross operating margin | 9900 | -€7,494 | €17,865 | +€25,358 | |
| Operating profit (loss) | 9901 | -€9,955 | €16,313 | +€26,267 | |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €7 | €73 | +€66 | +912% |
| Recurring financial charges | 65 | €7 | €73 | +€66 | +912% |
| Profit (loss) for the period before taxes | 9903 | -€9,962 | €16,239 | +€26,201 | |
| Income taxes | 67/77 | €224 | €2,753 | +€2,529 | +1,127% |
| Profit (loss) for the period | 9904 | -€10,186 | €13,486 | +€23,672 | |
| Profit (loss) for the period to be appropriated | 9905 | -€10,186 | €13,486 | +€23,672 |
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 13 October 2026 via checked.be.