IPK: what changed
Two financial 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.
IPK
Largest movements
- Receivables within one year -€46,644
down €46,644 (-26.9%), from €173,448 to €126,803
of which Trade receivables: -€37,368
- Cash +€22,309
up €22,309 (+720%), from €3,100 to €25,409
mainly Receivables within one year (+€46,644) and Depreciation (+€13,716)
- Stocks and contracts -€9,297
no longer reported in 2025 (was €9,297)
- Tangible fixed assets +€4,811
up €4,811 (+20.0%), from €24,084 to €28,895
of which Furniture and vehicles: +€9,020
- Trade debts -€23,202
no longer reported in 2025 (was €23,202)
- Debts after one year -€16,746
down €16,746 (-30.6%), from €54,639 to €37,892
- Other debts +€10,553
up €10,553 (+156%), from €6,769 to €17,322
- Profit (loss) carried forward +€8,302
up €8,302 (+9.6%), from €86,391 to €94,693
- Tax, wage and social debts -€6,105
down €6,105 (-34.6%), from €17,636 to €11,532
- Turnover +€255,157
up €255,157 (+71.8%), from €355,420 to €610,577
- Purchases and services +€251,990
up €251,990 (+78.3%), from €321,648 to €573,638
- Financial charges +€7,170
up €7,170 (+408%), from €1,758 to €8,929
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.
Derived cash bridge
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 | €211,683 | €182,641 | -€29,042 | -13.7% |
| Fixed assets | 21/28 | €24,084 | €28,895 | +€4,811 | +20.0% |
| Tangible fixed assets | 22/27 | €24,084 | €28,895 | +€4,811 | +20.0% |
| Plant, machinery and equipment | 23 | €18,773 | €14,564 | -€4,209 | -22.4% |
| Furniture and vehicles | 24 | €5,311 | €14,331 | +€9,020 | +170% |
| Current assets | 29/58 | €187,599 | €153,746 | -€33,853 | -18.0% |
| Stocks and contracts in progress | 3 | €9,297 | - | -€9,297 | |
| Stocks | 30/36 | €9,297 | - | -€9,297 | |
| Amounts receivable within one year | 40/41 | €173,448 | €126,803 | -€46,644 | -26.9% |
| Trade receivables | 40 | €136,085 | €98,717 | -€37,368 | -27.5% |
| Other amounts receivable | 41 | €37,363 | €28,086 | -€9,276 | -24.8% |
| Cash at bank and in hand | 54/58 | €3,100 | €25,409 | +€22,309 | +720% |
| Deferred charges and accrued income | 490/1 | €1,755 | €1,533 | -€221 | -12.6% |
| Total equity and liabilities | 10/49 | €211,683 | €182,641 | -€29,042 | -13.7% |
| Equity | 10/15 | €87,391 | €95,693 | +€8,302 | +9.5% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €86,391 | €94,693 | +€8,302 | +9.6% |
| Amounts payable | 17/49 | €124,292 | €86,948 | -€37,345 | -30.0% |
| Amounts payable after more than one year | 17 | €54,639 | €37,892 | -€16,746 | -30.6% |
| Financial debts | 170/4 | €54,639 | €37,892 | -€16,746 | -30.6% |
| Amounts payable within one year | 42/48 | €69,654 | €49,055 | -€20,598 | -29.6% |
| Financial debts | 43 | €22,047 | €20,202 | -€1,845 | -8.4% |
| Credit institutions | 430/8 | €22,047 | €20,202 | -€1,845 | -8.4% |
| Trade debts | 44 | €23,202 | - | -€23,202 | |
| Suppliers | 440/4 | €23,202 | - | -€23,202 | |
| Taxes, remuneration and social security | 45 | €17,636 | €11,532 | -€6,105 | -34.6% |
| Taxes | 450/3 | €17,636 | €11,532 | -€6,105 | -34.6% |
| Other amounts payable | 47/48 | €6,769 | €17,322 | +€10,553 | +156% |
| Turnover | 70 | €355,420 | €610,577 | +€255,157 | +71.8% |
| Non-recurring operating income | 76A | €2,116 | - | -€2,116 | |
| Goods, raw materials, services and sundry goods | 60/61 | €321,648 | €573,638 | +€251,990 | +78.3% |
| Remuneration, social security and pensions | 62 | €1,101 | €140 | -€960 | -87.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,312 | €13,716 | +€5,404 | +65.0% |
| Other operating charges | 640/8 | €1,188 | €4,336 | +€3,148 | +265% |
| Gross operating margin | 9900 | €35,888 | €40,374 | +€4,487 | +12.5% |
| Operating profit (loss) | 9901 | €25,288 | €22,183 | -€3,105 | -12.3% |
| Financial income | 75/76B | €1 | €17 | +€17 | +3,128% |
| Recurring financial income | 75 | €1 | €17 | +€17 | +3,128% |
| Financial charges | 65/66B | €1,758 | €8,929 | +€7,170 | +408% |
| Recurring financial charges | 65 | €1,758 | €8,929 | +€7,170 | +408% |
| Profit (loss) for the period before taxes | 9903 | €23,530 | €13,271 | -€10,259 | -43.6% |
| Income taxes | 67/77 | €6,563 | €4,969 | -€1,594 | -24.3% |
| Profit (loss) for the period | 9904 | €16,967 | €8,302 | -€8,664 | -51.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,967 | €8,302 | -€8,664 | -51.1% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.