IPP Packaging Materials: 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.
IPP Packaging Materials
Largest movements
- Cash +€112,382
up €112,382 (+31.8%), from €353,325 to €465,707
mainly Net result for the year (+€65,775) and Accrued charges and deferred income (+€64,305)
- Stocks and contracts -€51,477
no longer reported in 2025 (was €51,477)
- Receivables within one year +€37,410
up €37,410 (+12.6%), from €296,164 to €333,574
of which Other amounts receivable: +€34,477
- Reserves +€65,000
up €65,000 (+12.4%), from €526,150 to €591,150
of which Distributable reserves: +€65,000
- Accrued charges and deferred income +€64,305
new in 2025: €64,305
- Trade debts -€39,327
down €39,327 (-53.9%), from €72,989 to €33,662
- Gross operating margin +€66,398
up €66,398 (+15.8%), from €420,580 to €486,978
- Staff costs +€53,954
up €53,954 (+14.6%), from €370,563 to €424,517
- Financial income +€8,373
up €8,373 (+27.1%), from €30,865 to €39,238
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.
Cash bridge derived
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 | €715,141 | €813,934 | +€98,793 | +13.8% |
| Fixed assets | 21/28 | €9,000 | €8,410 | -€591 | -6.6% |
| Tangible fixed assets | 22/27 | €1,929 | €535 | -€1,394 | -72.3% |
| Furniture and vehicles | 24 | €381 | €125 | -€257 | -67.3% |
| Other tangible fixed assets | 26 | €1,547 | €410 | -€1,137 | -73.5% |
| Financial fixed assets | 28 | €7,072 | €7,875 | +€803 | +11.4% |
| Current assets | 29/58 | €706,140 | €805,524 | +€99,384 | +14.1% |
| Stocks and contracts in progress | 3 | €51,477 | - | -€51,477 | |
| Stocks | 30/36 | €51,477 | - | -€51,477 | |
| Amounts receivable within one year | 40/41 | €296,164 | €333,574 | +€37,410 | +12.6% |
| Trade receivables | 40 | €279,415 | €282,348 | +€2,934 | +1.0% |
| Other amounts receivable | 41 | €16,749 | €51,225 | +€34,477 | +205.8% |
| Cash at bank and in hand | 54/58 | €353,325 | €465,707 | +€112,382 | +31.8% |
| Deferred charges and accrued income | 490/1 | €5,175 | €6,244 | +€1,069 | +20.7% |
| Total equity and liabilities | 10/49 | €715,141 | €813,934 | +€98,793 | +13.8% |
| Equity | 10/15 | €591,467 | €657,242 | +€65,775 | +11.1% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €526,150 | €591,150 | +€65,000 | +12.4% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €520,000 | €585,000 | +€65,000 | +12.5% |
| Profit (loss) carried forward | 14 | €3,817 | €4,592 | +€775 | +20.3% |
| Amounts payable | 17/49 | €123,674 | €156,692 | +€33,018 | +26.7% |
| Amounts payable within one year | 42/48 | €123,674 | €92,386 | -€31,287 | -25.3% |
| Trade debts | 44 | €72,989 | €33,662 | -€39,327 | -53.9% |
| Suppliers | 440/4 | €72,989 | €33,662 | -€39,327 | -53.9% |
| Taxes, remuneration and social security | 45 | €50,685 | €58,725 | +€8,040 | +15.9% |
| Taxes | 450/3 | €7,654 | €23,834 | +€16,180 | +211.4% |
| Remuneration and social security | 454/9 | €43,031 | €34,891 | -€8,141 | -18.9% |
| Accrued charges and deferred income | 492/3 | - | €64,305 | +€64,305 | |
| Remuneration, social security and pensions | 62 | €370,563 | €424,517 | +€53,954 | +14.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,550 | €1,394 | -€156 | -10.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,607 | €7,459 | +€4,852 | +186.1% |
| Other operating charges | 640/8 | €590 | €607 | +€17 | +2.9% |
| Gross operating margin | 9900 | €420,580 | €486,978 | +€66,398 | +15.8% |
| Operating profit (loss) | 9901 | €45,269 | €53,000 | +€7,731 | +17.1% |
| Financial income | 75/76B | €30,865 | €39,238 | +€8,373 | +27.1% |
| Recurring financial income | 75 | €30,865 | €39,238 | +€8,373 | +27.1% |
| Financial charges | 65/66B | €173 | €193 | +€20 | +11.4% |
| Recurring financial charges | 65 | €173 | €193 | +€20 | +11.4% |
| Profit (loss) for the period before taxes | 9903 | €75,961 | €92,046 | +€16,085 | +21.2% |
| Income taxes | 67/77 | €22,779 | €26,271 | +€3,492 | +15.3% |
| Profit (loss) for the period | 9904 | €53,182 | €65,775 | +€12,593 | +23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €53,182 | €65,775 | +€12,593 | +23.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.