IPee: 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.
What changed
IPee
NACE 74.112, Other professional, scientific and technical activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2.1m
2024 · -€1.8m-€221,130
Equity
€408,531
2024 · €2.5m-€2.1m
Cash
€32,543
2024 · €13,968+€18,575
Balance sheet total
€4.4m
2024 · €4.4m-€66,093
Largest movements
Assets
- Intangible fixed assets -€154,091
down €154,091 (-4.6%), from €3.3m to €3.2m
- Receivables within one year +€51,115
up €51,115 (+22.1%), from €231,292 to €282,407
of which Trade receivables: +€60,197
Equity and liabilities
- Profit (loss) carried forward -€2.1m
down €2.1m (-112.1%), from -€1.8m to -€3.9m
- Debts after one year +€2.0m
up €2.0m (+282.1%), from €700,000 to €2.7m
- Current portion of long-term debt +€300,000
up €300,000, from €0 to €300,000
- Trade debts -€189,814
down €189,814 (-25.1%), from €755,101 to €565,287
- Other debts -€174,887
down €174,887 (-87.4%), from €200,000 to €25,113
Income statement
- Gross operating margin -€494,363
down €494,363, from €418,075 to -€76,288
- Staff costs -€228,575
down €228,575 (-17.8%), from €1.3m to €1.1m
- Financial charges -€124,402
down €124,402 (-52.7%), from €235,862 to €111,460
- Depreciation +€121,329
up €121,329 (+17.2%), from €703,965 to €825,293
- Taxes +€85,493
up €85,493, from -€63,256 to €22,237
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.
Result 2024
-€1.8m
Gross operating margin
-€494,363
Staff costs
+€228,575
Depreciation
-€121,329
Write-downs
+€55,000
Other operating charges
-€2,713
Other operating items
+€74,377
Financial income
+€413
Financial charges
+€124,402
Taxes
-€85,493
Result 2025
-€2.1m
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.
From operations
-€1.6m
Investment
-€668,113
Financing
+€2.3m
Cash 2024
€13,968
From operations (derived)
-€1.6m
Net result for the year
-€2.1m
Depreciation
+€825,293
Receivables after one year
+€22,237
Stocks and contracts
-€39,123
Receivables within one year
-€51,115
Deferred charges and accrued income
-€4,511
Trade debts
-€189,814
Tax, wage and social debts
-€46,020
Other debts
-€174,887
Accrued charges and deferred income
+€120,606
Investment (derived)
-€668,113
Investment in fixed assets (net)
-€668,113
Financing
+€2.3m
Debts after one year
+€2.0m
Current portion of long-term debt
+€300,000
Cash 2025
€32,543
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,428,642 | €4,362,548 | -€66,093 | -1.5% |
| Fixed assets | 21/28 | €3,389,509 | €3,232,328 | -€157,181 | -4.6% |
| Intangible fixed assets | 21 | €3,345,044 | €3,190,953 | -€154,091 | -4.6% |
| Tangible fixed assets | 22/27 | €33,965 | €30,875 | -€3,089 | -9.1% |
| Plant, machinery and equipment | 23 | €6,187 | €2,199 | -€3,988 | -64.5% |
| Furniture and vehicles | 24 | €27,128 | €9,399 | -€17,729 | -65.4% |
| Other tangible fixed assets | 26 | €650 | €3,748 | +€3,099 | +476.9% |
| Assets under construction and advance payments | 27 | - | €15,530 | +€15,530 | |
| Financial fixed assets | 28 | €10,500 | €10,500 | = | 0.0% |
| Current assets | 29/58 | €1,039,133 | €1,130,220 | +€91,087 | +8.8% |
| Amounts receivable after more than one year | 29 | €169,735 | €147,497 | -€22,237 | -13.1% |
| Other amounts receivable | 291 | €169,735 | €147,497 | -€22,237 | -13.1% |
| Stocks and contracts in progress | 3 | €624,139 | €663,262 | +€39,123 | +6.3% |
| Stocks | 30/36 | €624,139 | €663,262 | +€39,123 | +6.3% |
| Amounts receivable within one year | 40/41 | €231,292 | €282,407 | +€51,115 | +22.1% |
| Trade receivables | 40 | €210,296 | €270,493 | +€60,197 | +28.6% |
| Other amounts receivable | 41 | €20,996 | €11,914 | -€9,082 | -43.3% |
| Cash at bank and in hand | 54/58 | €13,968 | €32,543 | +€18,575 | +133.0% |
| Deferred charges and accrued income | 490/1 | €0 | €4,511 | +€4,511 | |
| Total equity and liabilities | 10/49 | €4,428,642 | €4,362,548 | -€66,093 | -1.5% |
| Equity | 10/15 | €2,459,510 | €408,531 | -€2.1m | -83.4% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €4,227,859 | €4,227,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,227,859 | €4,227,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,227,859 | €4,227,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,829,849 | -€3,880,828 | -€2.1m | -112.1% |
| Amounts payable | 17/49 | €1,969,131 | €3,954,017 | +€2.0m | +100.8% |
| Amounts payable after more than one year | 17 | €700,000 | €2,675,000 | +€2.0m | +282.1% |
| Financial debts | 170/4 | €700,000 | €2,675,000 | +€2.0m | +282.1% |
| Amounts payable within one year | 42/48 | €1,091,390 | €980,670 | -€110,720 | -10.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | €300,000 | +€300,000 | |
| Trade debts | 44 | €755,101 | €565,287 | -€189,814 | -25.1% |
| Suppliers | 440/4 | €755,101 | €565,287 | -€189,814 | -25.1% |
| Taxes, remuneration and social security | 45 | €136,289 | €90,270 | -€46,020 | -33.8% |
| Taxes | 450/3 | €0 | €267 | +€267 | |
| Remuneration and social security | 454/9 | €136,289 | €90,003 | -€46,286 | -34.0% |
| Other amounts payable | 47/48 | €200,000 | €25,113 | -€174,887 | -87.4% |
| Accrued charges and deferred income | 492/3 | €177,741 | €298,348 | +€120,606 | +67.9% |
| Remuneration, social security and pensions | 62 | €1,284,654 | €1,056,079 | -€228,575 | -17.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €703,965 | €825,293 | +€121,329 | +17.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€55,000 | -€55,000 | |
| Other operating charges | 640/8 | €8,020 | €10,733 | +€2,713 | +33.8% |
| Non-recurring operating charges | 66A | €79,090 | €4,714 | -€74,377 | -94.0% |
| Gross operating margin | 9900 | €418,075 | -€76,288 | -€494,363 | |
| Operating profit (loss) | 9901 | -€1,657,654 | -€1,918,107 | -€260,453 | -15.7% |
| Financial income | 75/76B | €412 | €825 | +€413 | +100.4% |
| Recurring financial income | 75 | €412 | €825 | +€413 | +100.4% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €235,862 | €111,460 | -€124,402 | -52.7% |
| Recurring financial charges | 65 | €235,862 | €111,460 | -€124,402 | -52.7% |
| Profit (loss) for the period before taxes | 9903 | -€1,893,104 | -€2,028,742 | -€135,637 | -7.2% |
| Income taxes | 67/77 | -€63,256 | €22,237 | +€85,493 | |
| Profit (loss) for the period | 9904 | -€1,829,849 | -€2,050,979 | -€221,130 | -12.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,829,849 | -€2,050,979 | -€221,130 | -12.1% |
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 1 October 2026 via checked.be.