IPEX Liège: what changed
What changed
IPEX Liège
NACE 62.100, Computer programming
filed annual accounts (NBB)
Net result for the year
€32,132
2024 · €73,867-€41,735
Equity
€504,462
2024 · €479,978+€24,485
Cash
€91,399
2024 · €34,722+€56,678
Balance sheet total
€3.7m
2024 · €3.5m+€262,992
Largest movements
Assets
- Intangible fixed assets +€347,076
up €347,076 (+49.4%), from €702,344 to €1.0m
- Tangible fixed assets -€206,902
down €206,902 (-26.9%), from €769,854 to €562,952
of which Leasing and similar rights: -€176,319
- Cash +€56,678
up €56,678 (+163%), from €34,722 to €91,399
mainly Depreciation (+€769,157) and Trade debts (+€250,696)
- Stocks and contracts +€48,488
up €48,488 (+52.8%), from €91,768 to €140,256
Equity and liabilities
- Trade debts +€250,696
up €250,696 (+23.2%), from €1.1m to €1.3m
- Advances received +€250,307
up €250,307 (+47,542%), from €527 to €250,834
- Debts after one year -€243,177
down €243,177 (-52.3%), from €465,061 to €221,884
- Short-term financial debts -€227,065
down €227,065 (-34.5%), from €657,352 to €430,287
- Tax, wage and social debts +€194,392
up €194,392 (+58.6%), from €331,802 to €526,194
of which Taxes: +€114,600
Income statement
- Gross operating margin +€258,577
up €258,577 (+9.4%), from €2.7m to €3.0m
- Financial income -€161,083
down €161,083 (-95.5%), from €168,731 to €7,648
- Depreciation +€121,447
up €121,447 (+18.8%), from €647,710 to €769,157
- Taxes +€44,627
up €44,627 (+293%), from €15,207 to €59,834
- Financial charges -€33,262
down €33,262 (-39.6%), from €83,981 to €50,719
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€73,867
Gross operating margin
+€258,577
Staff costs
-€26,395
Depreciation
-€121,447
Other operating charges
-€2,310
Other operating items
+€22,288
Financial income
-€161,083
Financial charges
+€33,262
Taxes
-€44,627
Result 2025
€32,132
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€1.6m
Investment
-€909,331
Financing
-€613,485
Cash 2024
€34,722
From operations (derived)
+€1.6m
Net result for the year
+€32,132
Depreciation
+€769,157
Stocks and contracts
-€48,488
Receivables within one year
-€22,240
Deferred charges and accrued income
+€4,588
Trade debts
+€250,696
Tax, wage and social debts
+€194,392
Advances received
+€250,307
Other debts
+€160,000
Accrued charges and deferred income
-€11,051
Investment (derived)
-€909,331
Investment in fixed assets (net)
-€909,331
Financing
-€613,485
Debts after one year
-€243,177
Current portion of long-term debt
-€135,596
Short-term financial debts
-€227,065
Contributions, distributions and other
-€7,648
Cash 2025
€91,399
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,472,071 | €3,735,063 | +€262,992 | +7.6% |
| Fixed assets | 21/28 | €1,472,645 | €1,612,818 | +€140,174 | +9.5% |
| Intangible fixed assets | 21 | €702,344 | €1,049,420 | +€347,076 | +49.4% |
| Tangible fixed assets | 22/27 | €769,854 | €562,952 | -€206,902 | -26.9% |
| Plant, machinery and equipment | 23 | €55,759 | €32,628 | -€23,131 | -41.5% |
| Furniture and vehicles | 24 | €55,373 | €34,169 | -€21,204 | -38.3% |
| Leasing and similar rights | 25 | €650,927 | €474,608 | -€176,319 | -27.1% |
| Other tangible fixed assets | 26 | €7,794 | €21,546 | +€13,752 | +176% |
| Financial fixed assets | 28 | €447 | €447 | = | 0.0% |
| Current assets | 29/58 | €1,999,426 | €2,122,244 | +€122,818 | +6.1% |
| Stocks and contracts in progress | 3 | €91,768 | €140,256 | +€48,488 | +52.8% |
| Stocks | 30/36 | €91,768 | €140,256 | +€48,488 | +52.8% |
| Amounts receivable within one year | 40/41 | €1,772,956 | €1,795,195 | +€22,240 | +1.3% |
| Trade receivables | 40 | €1,725,956 | €1,795,195 | +€69,240 | +4.0% |
| Other amounts receivable | 41 | €47,000 | - | -€47,000 | |
| Cash at bank and in hand | 54/58 | €34,722 | €91,399 | +€56,678 | +163% |
| Deferred charges and accrued income | 490/1 | €99,980 | €95,393 | -€4,588 | -4.6% |
| Total equity and liabilities | 10/49 | €3,472,071 | €3,735,063 | +€262,992 | +7.6% |
| Equity | 10/15 | €479,978 | €504,462 | +€24,485 | +5.1% |
| Contributions | 10/11 | €232,000 | €232,000 | = | 0.0% |
| Capital | 10 | €232,000 | €232,000 | = | 0.0% |
| Issued capital | 100 | €232,000 | €232,000 | = | 0.0% |
| Reserves | 13 | €23,200 | €23,200 | = | 0.0% |
| Non-distributable reserves | 130/1 | €23,200 | €23,200 | = | 0.0% |
| Legal reserve | 130 | €23,200 | €23,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €211,504 | €243,636 | +€32,132 | +15.2% |
| Investment grants | 15 | €13,274 | €5,626 | -€7,648 | -57.6% |
| Amounts payable | 17/49 | €2,992,093 | €3,230,600 | +€238,507 | +8.0% |
| Amounts payable after more than one year | 17 | €465,061 | €221,884 | -€243,177 | -52.3% |
| Financial debts | 170/4 | €465,061 | €221,884 | -€243,177 | -52.3% |
| Amounts payable within one year | 42/48 | €2,508,939 | €3,001,674 | +€492,735 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €436,549 | €300,954 | -€135,596 | -31.1% |
| Financial debts | 43 | €657,352 | €430,287 | -€227,065 | -34.5% |
| Credit institutions | 430/8 | €657,352 | €430,287 | -€227,065 | -34.5% |
| Trade debts | 44 | €1,082,709 | €1,333,405 | +€250,696 | +23.2% |
| Suppliers | 440/4 | €1,082,709 | €1,333,405 | +€250,696 | +23.2% |
| Advances received on contracts in progress | 46 | €527 | €250,834 | +€250,307 | +47,542% |
| Taxes, remuneration and social security | 45 | €331,802 | €526,194 | +€194,392 | +58.6% |
| Taxes | 450/3 | €56,476 | €171,076 | +€114,600 | +203% |
| Remuneration and social security | 454/9 | €275,326 | €355,118 | +€79,792 | +29.0% |
| Other amounts payable | 47/48 | - | €160,000 | +€160,000 | |
| Accrued charges and deferred income | 492/3 | €18,093 | €7,042 | -€11,051 | -61.1% |
| Non-recurring operating income | 76A | - | €9,050 | +€9,050 | |
| Remuneration, social security and pensions | 62 | €2,056,340 | €2,082,735 | +€26,395 | +1.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €647,710 | €769,157 | +€121,447 | +18.8% |
| Other operating charges | 640/8 | €14,551 | €16,861 | +€2,310 | +15.9% |
| Non-recurring operating charges | 66A | €24,778 | €2,490 | -€22,288 | -90.0% |
| Gross operating margin | 9900 | €2,747,704 | €3,006,281 | +€258,577 | +9.4% |
| Operating profit (loss) | 9901 | €4,325 | €135,038 | +€130,713 | +3,022% |
| Financial income | 75/76B | €168,731 | €7,648 | -€161,083 | -95.5% |
| Recurring financial income | 75 | €168,731 | €7,648 | -€161,083 | -95.5% |
| Financial charges | 65/66B | €83,981 | €50,719 | -€33,262 | -39.6% |
| Recurring financial charges | 65 | €83,981 | €50,719 | -€33,262 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | €89,075 | €91,966 | +€2,891 | +3.2% |
| Income taxes | 67/77 | €15,207 | €59,834 | +€44,627 | +293% |
| Profit (loss) for the period | 9904 | €73,867 | €32,132 | -€41,735 | -56.5% |
| Profit (loss) for the period to be appropriated | 9905 | €73,867 | €32,132 | -€41,735 | -56.5% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.