IP4: 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.
IP4
Largest movements
- Cash +€3,766
up €3,766 (+34.6%), from €10,887 to €14,653
mainly Tax, wage and social debts (+€9,106) and Stocks and contracts (+€3,195)
- Stocks and contracts -€3,195
down €3,195 (-5.9%), from €54,332 to €51,137
- Tangible fixed assets -€934
down €934 (-48.5%), from €1,924 to €991
of which Plant, machinery and equipment: -€769
- Deferred charges and accrued income +€711
new in 2025: €711
- Tax, wage and social debts +€9,106
up €9,106 (+91.1%), from €9,992 to €19,098
of which Remuneration and social security: +€9,195
- Trade debts -€5,492
down €5,492 (-83.6%), from €6,571 to €1,079
- Other debts -€2,336
down €2,336 (-5.0%), from €46,762 to €44,427
- Profit (loss) carried forward -€930
down €930 (-8.0%), from -€11,581 to -€12,511
- Gross operating margin +€7,555
up €7,555 (+24.2%), from €31,179 to €38,733
- Financial income -€2,641
no longer reported in 2025 (was €2,641)
- Staff costs +€1,039
up €1,039 (+2.9%), from €36,374 to €37,413
- Depreciation -€924
down €924 (-49.7%), from €1,858 to €934
- Other operating charges +€790
new in 2025: €790
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.
Cash bridge derived
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 | €67,544 | €67,891 | +€348 | +0.5% |
| Fixed assets | 21/28 | €1,924 | €991 | -€934 | -48.5% |
| Tangible fixed assets | 22/27 | €1,924 | €991 | -€934 | -48.5% |
| Plant, machinery and equipment | 23 | €769 | - | -€769 | |
| Furniture and vehicles | 24 | €1,156 | €991 | -€165 | -14.3% |
| Current assets | 29/58 | €65,619 | €66,901 | +€1,281 | +2.0% |
| Stocks and contracts in progress | 3 | €54,332 | €51,137 | -€3,195 | -5.9% |
| Stocks | 30/36 | €54,332 | €51,137 | -€3,195 | -5.9% |
| Amounts receivable within one year | 40/41 | €400 | €400 | = | 0.0% |
| Other amounts receivable | 41 | €400 | €400 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €10,887 | €14,653 | +€3,766 | +34.6% |
| Deferred charges and accrued income | 490/1 | - | €711 | +€711 | |
| Total equity and liabilities | 10/49 | €67,544 | €67,891 | +€348 | +0.5% |
| Equity | 10/15 | €4,219 | €3,289 | -€930 | -22.1% |
| Contributions | 10/11 | €15,800 | €15,800 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€11,581 | -€12,511 | -€930 | -8.0% |
| Amounts payable | 17/49 | €63,325 | €64,603 | +€1,278 | +2.0% |
| Amounts payable within one year | 42/48 | €63,325 | €64,603 | +€1,278 | +2.0% |
| Trade debts | 44 | €6,571 | €1,079 | -€5,492 | -83.6% |
| Suppliers | 440/4 | €6,571 | €1,079 | -€5,492 | -83.6% |
| Taxes, remuneration and social security | 45 | €9,992 | €19,098 | +€9,106 | +91.1% |
| Taxes | 450/3 | €2,460 | €2,372 | -€89 | -3.6% |
| Remuneration and social security | 454/9 | €7,531 | €16,726 | +€9,195 | +122.1% |
| Other amounts payable | 47/48 | €46,762 | €44,427 | -€2,336 | -5.0% |
| Remuneration, social security and pensions | 62 | €36,374 | €37,413 | +€1,039 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,858 | €934 | -€924 | -49.7% |
| Other operating charges | 640/8 | - | €790 | +€790 | |
| Gross operating margin | 9900 | €31,179 | €38,733 | +€7,555 | +24.2% |
| Operating profit (loss) | 9901 | -€7,053 | -€403 | +€6,649 | +94.3% |
| Financial income | 75/76B | €2,641 | - | -€2,641 | |
| Recurring financial income | 75 | €2,641 | - | -€2,641 | |
| Financial charges | 65/66B | €347 | €527 | +€180 | +52.0% |
| Recurring financial charges | 65 | €347 | €527 | +€180 | +52.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,759 | -€930 | +€3,828 | +80.5% |
| Profit (loss) for the period | 9904 | -€4,759 | -€930 | +€3,828 | +80.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,759 | -€930 | +€3,828 | +80.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.