IPO SOLUTIONS: 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.
IPO SOLUTIONS
Largest movements
- Receivables within one year +€30,885
up €30,885 (+245%), from €12,628 to €43,513
of which Trade receivables: +€31,639
- Tangible fixed assets +€5,234
new in 2025: €5,234
- Cash +€2,954
up €2,954 (+33.0%), from €8,941 to €11,895
mainly Trade debts (+€18,806) and Net result for the year (+€13,942)
- Deferred charges and accrued income +€1,150
up €1,150 (+31.6%), from €3,638 to €4,788
- Stocks and contracts -€707
down €707 (-37.2%), from €1,901 to €1,194
- Trade debts +€18,806
up €18,806 (+234%), from €8,026 to €26,832
- Reserves +€13,063
new in 2025: €13,063
- Tax, wage and social debts +€7,601
up €7,601 (+1,315%), from €578 to €8,179
of which Taxes: +€6,120
- Other operating charges -€6,698
down €6,698 (-89.8%), from €7,462 to €764
- Gross operating margin +€6,410
up €6,410 (+47.7%), from €13,452 to €19,862
- Taxes +€4,241
up €4,241 (+382%), from €1,110 to €5,351
- Depreciation -€1,234
down €1,234 (-96.8%), from €1,275 to €41
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 | €27,158 | €66,674 | +€39,516 | +146% |
| Fixed assets | 21/28 | €50 | €5,284 | +€5,234 | +10,468% |
| Tangible fixed assets | 22/27 | - | €5,234 | +€5,234 | |
| Other tangible fixed assets | 26 | - | €5,234 | +€5,234 | |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €27,108 | €61,390 | +€34,282 | +126% |
| Stocks and contracts in progress | 3 | €1,901 | €1,194 | -€707 | -37.2% |
| Stocks | 30/36 | €1,901 | €1,194 | -€707 | -37.2% |
| Amounts receivable within one year | 40/41 | €12,628 | €43,513 | +€30,885 | +245% |
| Trade receivables | 40 | €4,734 | €36,373 | +€31,639 | +668% |
| Other amounts receivable | 41 | €7,894 | €7,140 | -€754 | -9.6% |
| Cash at bank and in hand | 54/58 | €8,941 | €11,895 | +€2,954 | +33.0% |
| Deferred charges and accrued income | 490/1 | €3,638 | €4,788 | +€1,150 | +31.6% |
| Total equity and liabilities | 10/49 | €27,158 | €66,674 | +€39,516 | +146% |
| Equity | 10/15 | €18,554 | €31,663 | +€13,109 | +70.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | - | €13,063 | +€13,063 | |
| Distributable reserves | 133 | - | €13,063 | +€13,063 | |
| Profit (loss) carried forward | 14 | -€46 | - | +€46 | |
| Amounts payable | 17/49 | €8,604 | €35,011 | +€26,407 | +307% |
| Amounts payable within one year | 42/48 | €8,604 | €35,011 | +€26,407 | +307% |
| Trade debts | 44 | €8,026 | €26,832 | +€18,806 | +234% |
| Suppliers | 440/4 | €8,026 | €26,832 | +€18,806 | +234% |
| Taxes, remuneration and social security | 45 | €578 | €8,179 | +€7,601 | +1,315% |
| Taxes | 450/3 | €578 | €6,698 | +€6,120 | +1,059% |
| Remuneration and social security | 454/9 | - | €1,481 | +€1,481 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,275 | €41 | -€1,234 | -96.8% |
| Other operating charges | 640/8 | €7,462 | €764 | -€6,698 | -89.8% |
| Gross operating margin | 9900 | €13,452 | €19,862 | +€6,410 | +47.7% |
| Operating profit (loss) | 9901 | €4,715 | €19,057 | +€14,342 | +304% |
| Financial income | 75/76B | €337 | €387 | +€50 | +14.8% |
| Recurring financial income | 75 | €337 | €387 | +€50 | +14.8% |
| Financial charges | 65/66B | €189 | €151 | -€38 | -20.1% |
| Recurring financial charges | 65 | €189 | €151 | -€38 | -20.1% |
| Profit (loss) for the period before taxes | 9903 | €4,863 | €19,293 | +€14,430 | +297% |
| Income taxes | 67/77 | €1,110 | €5,351 | +€4,241 | +382% |
| Profit (loss) for the period | 9904 | €3,753 | €13,942 | +€10,189 | +271% |
| Profit (loss) for the period to be appropriated | 9905 | €3,753 | €13,942 | +€10,189 | +271% |
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 15 October 2026 via checked.be.