IPC immo: 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 immo
Largest movements
- Cash +€34,916
up €34,916 (+12.3%), from €284,921 to €319,837
mainly Net result for the year (+€39,247) and Depreciation (+€11,415)
- Tangible fixed assets -€11,415
down €11,415 (-45.2%), from €25,279 to €13,864
of which Furniture and vehicles: -€11,415
- Profit (loss) carried forward +€35,676
up €35,676 (+12.4%), from €287,594 to €323,270
- Trade debts -€11,455
down €11,455 (-65.2%), from €17,578 to €6,123
- Debts after one year -€5,614
no longer reported in 2025 (was €5,614)
- Gross operating margin -€1,909
down €1,909 (-2.9%), from €66,614 to €64,705
- Taxes -€1,298
down €1,298 (-10.0%), from €12,941 to €11,642
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 | €352,899 | €376,671 | +€23,772 | +6.7% |
| Fixed assets | 21/28 | €65,279 | €53,864 | -€11,415 | -17.5% |
| Tangible fixed assets | 22/27 | €25,279 | €13,864 | -€11,415 | -45.2% |
| Plant, machinery and equipment | 23 | €3,400 | €3,400 | = | 0.0% |
| Furniture and vehicles | 24 | €21,879 | €10,464 | -€11,415 | -52.2% |
| Financial fixed assets | 28 | €40,000 | €40,000 | = | 0.0% |
| Current assets | 29/58 | €287,620 | €322,807 | +€35,187 | +12.2% |
| Amounts receivable within one year | 40/41 | €243 | - | -€243 | |
| Other amounts receivable | 41 | €243 | - | -€243 | |
| Cash at bank and in hand | 54/58 | €284,921 | €319,837 | +€34,916 | +12.3% |
| Deferred charges and accrued income | 490/1 | €2,455 | €2,970 | +€514 | +20.9% |
| Total equity and liabilities | 10/49 | €352,899 | €376,671 | +€23,772 | +6.7% |
| Equity | 10/15 | €310,591 | €346,267 | +€35,676 | +11.5% |
| Contributions | 10/11 | €8,716 | €8,716 | = | 0.0% |
| Reserves | 13 | €14,281 | €14,281 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,605 | €3,605 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,605 | €3,605 | = | 0.0% |
| Distributable reserves | 133 | €10,676 | €10,676 | = | 0.0% |
| Profit (loss) carried forward | 14 | €287,594 | €323,270 | +€35,676 | +12.4% |
| Amounts payable | 17/49 | €42,307 | €30,403 | -€11,904 | -28.1% |
| Amounts payable after more than one year | 17 | €5,614 | - | -€5,614 | |
| Financial debts | 170/4 | €5,614 | - | -€5,614 | |
| Amounts payable within one year | 42/48 | €36,496 | €30,403 | -€6,092 | -16.7% |
| Current portion of amounts payable after more than one year | 42 | €6,066 | €5,614 | -€451 | -7.4% |
| Trade debts | 44 | €17,578 | €6,123 | -€11,455 | -65.2% |
| Suppliers | 440/4 | €17,578 | €6,123 | -€11,455 | -65.2% |
| Taxes, remuneration and social security | 45 | €10,036 | €13,327 | +€3,291 | +32.8% |
| Taxes | 450/3 | €7,936 | €13,327 | +€5,391 | +67.9% |
| Remuneration and social security | 454/9 | €2,100 | - | -€2,100 | |
| Other amounts payable | 47/48 | €2,816 | €5,339 | +€2,523 | +89.6% |
| Accrued charges and deferred income | 492/3 | €198 | - | -€198 | |
| Remuneration, social security and pensions | 62 | €1,920 | €1,860 | -€60 | -3.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,415 | €11,415 | = | 0.0% |
| Other operating charges | 640/8 | €1,384 | €997 | -€388 | -28.0% |
| Gross operating margin | 9900 | €66,614 | €64,705 | -€1,909 | -2.9% |
| Operating profit (loss) | 9901 | €51,894 | €50,433 | -€1,461 | -2.8% |
| Financial income | 75/76B | €995 | €769 | -€226 | -22.7% |
| Recurring financial income | 75 | €995 | €769 | -€226 | -22.7% |
| Financial charges | 65/66B | €457 | €312 | -€145 | -31.7% |
| Recurring financial charges | 65 | €457 | €312 | -€145 | -31.7% |
| Profit (loss) for the period before taxes | 9903 | €52,432 | €50,890 | -€1,542 | -2.9% |
| Income taxes | 67/77 | €12,941 | €11,642 | -€1,298 | -10.0% |
| Profit (loss) for the period | 9904 | €39,491 | €39,247 | -€244 | -0.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,491 | €39,247 | -€244 | -0.6% |
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 6 October 2026 via checked.be.