IPMG: 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.
IPMG
Largest movements
- Cash -€18,213
down €18,213 (-10.4%), from €174,491 to €156,277
mainly Contributions, distributions and other (-€59,785) and Investment in fixed assets (net) (-€6,665)
- Profit (loss) carried forward -€55,673
no longer reported in 2025 (was €55,673)
- Other debts +€41,889
up €41,889 (+37.9%), from €110,533 to €152,422
- Tax, wage and social debts -€2,812
down €2,812 (-25.0%), from €11,247 to €8,435
- Gross operating margin -€26,266
down €26,266 (-67.4%), from €38,988 to €12,722
- Taxes -€5,619
down €5,619 (-69.9%), from €8,039 to €2,421
- Depreciation +€634
up €634 (+12.3%), from €5,158 to €5,791
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 | €200,570 | €185,826 | -€14,744 | -7.4% |
| Fixed assets | 21/28 | €20,395 | €21,269 | +€874 | +4.3% |
| Tangible fixed assets | 22/27 | €20,395 | €21,269 | +€874 | +4.3% |
| Plant, machinery and equipment | 23 | €18,988 | €18,166 | -€822 | -4.3% |
| Furniture and vehicles | 24 | €1,407 | €3,102 | +€1,696 | +121% |
| Current assets | 29/58 | €180,175 | €164,557 | -€15,618 | -8.7% |
| Amounts receivable within one year | 40/41 | €4,579 | €6,579 | +€2,000 | +43.7% |
| Trade receivables | 40 | €3,470 | - | -€3,470 | |
| Other amounts receivable | 41 | €1,110 | €6,579 | +€5,469 | +493% |
| Cash at bank and in hand | 54/58 | €174,491 | €156,277 | -€18,213 | -10.4% |
| Deferred charges and accrued income | 490/1 | €1,105 | €1,701 | +€595 | +53.9% |
| Total equity and liabilities | 10/49 | €200,570 | €185,826 | -€14,744 | -7.4% |
| Equity | 10/15 | €76,133 | €20,460 | -€55,673 | -73.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €55,673 | - | -€55,673 | |
| Amounts payable | 17/49 | €124,437 | €165,366 | +€40,929 | +32.9% |
| Amounts payable within one year | 42/48 | €124,437 | €165,366 | +€40,929 | +32.9% |
| Trade debts | 44 | €2,657 | €4,509 | +€1,852 | +69.7% |
| Suppliers | 440/4 | €2,657 | €4,509 | +€1,852 | +69.7% |
| Taxes, remuneration and social security | 45 | €11,247 | €8,435 | -€2,812 | -25.0% |
| Taxes | 450/3 | €11,247 | €8,435 | -€2,812 | -25.0% |
| Other amounts payable | 47/48 | €110,533 | €152,422 | +€41,889 | +37.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,158 | €5,791 | +€634 | +12.3% |
| Other operating charges | 640/8 | €45 | - | -€45 | |
| Gross operating margin | 9900 | €38,988 | €12,722 | -€26,266 | -67.4% |
| Operating profit (loss) | 9901 | €33,786 | €6,931 | -€26,855 | -79.5% |
| Financial income | 75/76B | - | €13 | +€13 | |
| Recurring financial income | 75 | - | €13 | +€13 | |
| Financial charges | 65/66B | €409 | €411 | +€3 | +0.6% |
| Recurring financial charges | 65 | €409 | €411 | +€3 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €33,377 | €6,533 | -€26,844 | -80.4% |
| Income taxes | 67/77 | €8,039 | €2,421 | -€5,619 | -69.9% |
| Profit (loss) for the period | 9904 | €25,338 | €4,112 | -€21,226 | -83.8% |
| Profit (loss) for the period to be appropriated | 9905 | €25,338 | €4,112 | -€21,226 | -83.8% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.