IPF-I Feeder: 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.
IPF-I Feeder
Largest movements
- Financial fixed assets -€2.1m
down €2.1m (-7.7%), from €27.1m to €25.0m
- Contributions -€1.8m
down €1.8m (-6.5%), from €27.9m to €26.1m
- Gross operating margin +€130,170
up €130,170 (+42.0%), from -€309,612 to -€179,442
- Financial charges -€5,181
down €5,181 (-25.5%), from €20,301 to €15,120
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €27,440,150 | €25,407,984 | -€2.0m | -7.4% |
| Fixed assets | 21/28 | €27,086,455 | €24,997,217 | -€2.1m | -7.7% |
| Financial fixed assets | 28 | €27,086,455 | €24,997,217 | -€2.1m | -7.7% |
| Current assets | 29/58 | €353,695 | €410,768 | +€57,073 | +16.1% |
| Amounts receivable within one year | 40/41 | - | €2,031 | +€2,031 | |
| Trade receivables | 40 | - | €2,031 | +€2,031 | |
| Cash at bank and in hand | 54/58 | €353,695 | €408,737 | +€55,042 | +15.6% |
| Total equity and liabilities | 10/49 | €27,440,150 | €25,407,984 | -€2.0m | -7.4% |
| Equity | 10/15 | €26,976,368 | €24,977,350 | -€2.0m | -7.4% |
| Contributions | 10/11 | €27,949,446 | €26,144,990 | -€1.8m | -6.5% |
| Profit (loss) carried forward | 14 | -€973,078 | -€1,167,640 | -€194,562 | -20.0% |
| Amounts payable | 17/49 | €463,782 | €430,635 | -€33,147 | -7.1% |
| Amounts payable within one year | 42/48 | €463,782 | €430,635 | -€33,147 | -7.1% |
| Trade debts | 44 | €108,522 | €61,314 | -€47,208 | -43.5% |
| Suppliers | 440/4 | €108,522 | €61,314 | -€47,208 | -43.5% |
| Other amounts payable | 47/48 | €355,260 | €369,321 | +€14,061 | +4.0% |
| Gross operating margin | 9900 | -€309,612 | -€179,442 | +€130,170 | +42.0% |
| Operating profit (loss) | 9901 | -€309,612 | -€179,442 | +€130,170 | +42.0% |
| Financial charges | 65/66B | €20,301 | €15,120 | -€5,181 | -25.5% |
| Recurring financial charges | 65 | €20,301 | €15,120 | -€5,181 | -25.5% |
| Profit (loss) for the period before taxes | 9903 | -€329,914 | -€194,562 | +€135,352 | +41.0% |
| Profit (loss) for the period | 9904 | -€329,914 | -€194,562 | +€135,352 | +41.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€329,914 | -€194,562 | +€135,352 | +41.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.