IPC BENELUX: 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.
IPC BENELUX
Largest movements
- Receivables within one year +€70,453
up €70,453 (+25.2%), from €279,447 to €349,900
of which Trade receivables: +€80,037
- Cash +€13,146
up €13,146 (+17.2%), from €76,575 to €89,721
mainly Net result for the year (+€51,227) and Tax, wage and social debts (+€32,635)
- Profit (loss) carried forward +€51,227
up €51,227 (+87.6%), from €58,454 to €109,681
- Tax, wage and social debts +€32,635
up €32,635 (+16.7%), from €195,812 to €228,447
of which Remuneration and social security: +€66,688
- Gross operating margin +€363,113
up €363,113 (+34.3%), from €1.1m to €1.4m
- Staff costs +€333,744
up €333,744 (+34.8%), from €959,515 to €1.3m
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 | €367,939 | €455,845 | +€87,906 | +23.9% |
| Fixed assets | 21/28 | €9,956 | €11,708 | +€1,752 | +17.6% |
| Tangible fixed assets | 22/27 | €1,308 | €3,060 | +€1,752 | +133.9% |
| Furniture and vehicles | 24 | €1,308 | €1,579 | +€271 | +20.7% |
| Other tangible fixed assets | 26 | - | €1,481 | +€1,481 | |
| Financial fixed assets | 28 | €8,648 | €8,648 | = | 0.0% |
| Current assets | 29/58 | €357,983 | €444,137 | +€86,154 | +24.1% |
| Amounts receivable within one year | 40/41 | €279,447 | €349,900 | +€70,453 | +25.2% |
| Trade receivables | 40 | €253,518 | €333,555 | +€80,037 | +31.6% |
| Other amounts receivable | 41 | €25,929 | €16,345 | -€9,584 | -37.0% |
| Cash at bank and in hand | 54/58 | €76,575 | €89,721 | +€13,146 | +17.2% |
| Deferred charges and accrued income | 490/1 | €1,961 | €4,516 | +€2,555 | +130.3% |
| Total equity and liabilities | 10/49 | €367,939 | €455,845 | +€87,906 | +23.9% |
| Equity | 10/15 | €78,914 | €130,141 | +€51,227 | +64.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,454 | €109,681 | +€51,227 | +87.6% |
| Amounts payable | 17/49 | €289,025 | €325,704 | +€36,679 | +12.7% |
| Amounts payable within one year | 42/48 | €289,025 | €325,704 | +€36,679 | +12.7% |
| Trade debts | 44 | €93,213 | €97,257 | +€4,044 | +4.3% |
| Suppliers | 440/4 | €93,213 | €97,257 | +€4,044 | +4.3% |
| Taxes, remuneration and social security | 45 | €195,812 | €228,447 | +€32,635 | +16.7% |
| Taxes | 450/3 | €55,500 | €21,447 | -€34,053 | -61.4% |
| Remuneration and social security | 454/9 | €140,312 | €207,000 | +€66,688 | +47.5% |
| Remuneration, social security and pensions | 62 | €959,515 | €1,293,259 | +€333,744 | +34.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €901 | €1,237 | +€336 | +37.3% |
| Other operating charges | 640/8 | €5,946 | €147 | -€5,799 | -97.5% |
| Gross operating margin | 9900 | €1,057,934 | €1,421,047 | +€363,113 | +34.3% |
| Operating profit (loss) | 9901 | €91,572 | €126,404 | +€34,832 | +38.0% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €17,838 | €22,652 | +€4,814 | +27.0% |
| Recurring financial charges | 65 | €17,838 | €22,652 | +€4,814 | +27.0% |
| Profit (loss) for the period before taxes | 9903 | €73,735 | €103,752 | +€30,017 | +40.7% |
| Income taxes | 67/77 | €42,833 | €52,525 | +€9,692 | +22.6% |
| Profit (loss) for the period | 9904 | €30,902 | €51,227 | +€20,325 | +65.8% |
| Profit (loss) for the period to be appropriated | 9905 | €30,902 | €51,227 | +€20,325 | +65.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.