IP REAL ESTATE: 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 REAL ESTATE
Largest movements
- Current investments +€109,672
up €109,672 (+9.6%), from €1.1m to €1.2m
- Receivables within one year -€95,990
down €95,990 (-89.6%), from €107,170 to €11,180
of which Trade receivables: -€91,191
- Tangible fixed assets -€95,376
down €95,376 (-13.6%), from €703,440 to €608,064
- Reserves +€151,065
up €151,065 (+12.1%), from €1.2m to €1.4m
of which Distributable reserves: +€151,065
- Debts after one year -€147,844
down €147,844 (-23.5%), from €630,292 to €482,449
- Tax, wage and social debts -€80,794
down €80,794 (-67.0%), from €120,505 to €39,711
- Accrued charges and deferred income -€34,857
down €34,857 (-100%), from €34,857 to €0
- Financial income +€74,479
up €74,479 (+1,179%), from €6,317 to €80,795
of which Financial income: +€56,561
- Gross operating margin +€22,412
up €22,412 (+9.6%), from €232,367 to €254,779
- Financial charges +€9,439
up €9,439 (+39.8%), from €23,723 to €33,162
- Taxes +€3,346
up €3,346 (+10.1%), from €33,133 to €36,479
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 | €2,407,981 | €2,314,648 | -€93,334 | -3.9% |
| Fixed assets | 21/28 | €953,440 | €858,064 | -€95,376 | -10.0% |
| Tangible fixed assets | 22/27 | €703,440 | €608,064 | -€95,376 | -13.6% |
| Land and buildings | 22 | €703,440 | €608,064 | -€95,376 | -13.6% |
| Financial fixed assets | 28 | €250,000 | €250,000 | = | 0.0% |
| Current assets | 29/58 | €1,454,541 | €1,456,583 | +€2,042 | +0.1% |
| Amounts receivable within one year | 40/41 | €107,170 | €11,180 | -€95,990 | -89.6% |
| Trade receivables | 40 | €102,372 | €11,180 | -€91,191 | -89.1% |
| Other amounts receivable | 41 | €4,798 | €0 | -€4,798 | -100% |
| Current investments | 50/53 | €1,138,606 | €1,248,278 | +€109,672 | +9.6% |
| Cash at bank and in hand | 54/58 | €208,765 | €197,022 | -€11,743 | -5.6% |
| Deferred charges and accrued income | 490/1 | - | €103 | +€103 | |
| Total equity and liabilities | 10/49 | €2,407,981 | €2,314,648 | -€93,334 | -3.9% |
| Equity | 10/15 | €1,471,839 | €1,622,903 | +€151,065 | +10.3% |
| Contributions | 10/11 | €227,536 | €227,536 | = | 0.0% |
| Reserves | 13 | €1,244,302 | €1,395,367 | +€151,065 | +12.1% |
| Non-distributable reserves | 130/1 | €409,459 | €409,459 | = | 0.0% |
| Reserves not available under the articles | 1311 | €9,459 | - | -€9,459 | |
| Own shares acquired | 1312 | €400,000 | €400,000 | = | 0.0% |
| Other | 1319 | - | €9,459 | +€9,459 | |
| Tax-exempt reserves | 132 | €5,445 | €5,445 | = | 0.0% |
| Distributable reserves | 133 | €829,399 | €980,464 | +€151,065 | +18.2% |
| Amounts payable | 17/49 | €936,143 | €691,744 | -€244,399 | -26.1% |
| Amounts payable after more than one year | 17 | €630,292 | €482,449 | -€147,844 | -23.5% |
| Financial debts | 170/4 | €630,292 | €482,449 | -€147,844 | -23.5% |
| Amounts payable within one year | 42/48 | €270,993 | €209,295 | -€61,698 | -22.8% |
| Current portion of amounts payable after more than one year | 42 | €144,842 | €147,844 | +€3,002 | +2.1% |
| Trade debts | 44 | €2,418 | €10,826 | +€8,409 | +348% |
| Suppliers | 440/4 | €2,418 | €10,826 | +€8,409 | +348% |
| Taxes, remuneration and social security | 45 | €120,505 | €39,711 | -€80,794 | -67.0% |
| Taxes | 450/3 | €120,505 | €39,711 | -€80,794 | -67.0% |
| Other amounts payable | 47/48 | €3,229 | €10,914 | +€7,686 | +238% |
| Accrued charges and deferred income | 492/3 | €34,857 | €0 | -€34,857 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €95,376 | €95,376 | +€0 | 0.0% |
| Other operating charges | 640/8 | €19,817 | €19,492 | -€325 | -1.6% |
| Gross operating margin | 9900 | €232,367 | €254,779 | +€22,412 | +9.6% |
| Operating profit (loss) | 9901 | €117,174 | €139,911 | +€22,737 | +19.4% |
| Financial income | 75/76B | €6,317 | €80,795 | +€74,479 | +1,179% |
| Recurring financial income | 75 | €6,317 | €62,878 | +€56,561 | +895% |
| Non-recurring financial income | 76B | - | €17,918 | +€17,918 | |
| Financial charges | 65/66B | €23,723 | €33,162 | +€9,439 | +39.8% |
| Recurring financial charges | 65 | €23,723 | €33,162 | +€9,439 | +39.8% |
| Profit (loss) for the period before taxes | 9903 | €99,768 | €187,544 | +€87,776 | +88.0% |
| Income taxes | 67/77 | €33,133 | €36,479 | +€3,346 | +10.1% |
| Profit (loss) for the period | 9904 | €66,635 | €151,065 | +€84,430 | +127% |
| Profit (loss) for the period to be appropriated | 9905 | €66,635 | €151,065 | +€84,430 | +127% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.