IPQ: 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.
IPQ
Largest movements
- Receivables within one year +€61,540
up €61,540 (+161.8%), from €38,036 to €99,576
of which Trade receivables: +€47,505
- Cash +€18,758
up €18,758 (+251.5%), from €7,459 to €26,217
mainly Net result for the year (+€111,726) and Other debts (+€40,155)
- Reserves +€61,726
up €61,726 (+140.4%), from €43,975 to €105,701
- Other debts +€40,155
up €40,155 (+56.3%), from €71,319 to €111,474
- Debts after one year -€21,994
down €21,994 (-15.0%), from €146,814 to €124,820
- Gross operating margin +€85,247
up €85,247 (+120.8%), from €70,597 to €155,844
- Taxes +€22,398
up €22,398 (+132.9%), from €16,854 to €39,251
- Financial income +€3,111
up €3,111 (+31106400.0%), from €0 to €3,111
of which Financial income: +€2,383
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 | €294,624 | €375,760 | +€81,135 | +27.5% |
| Fixed assets | 21/28 | €248,794 | €249,446 | +€652 | +0.3% |
| Tangible fixed assets | 22/27 | €48,792 | €49,446 | +€654 | +1.3% |
| Land and buildings | 22 | €30,224 | €29,134 | -€1,090 | -3.6% |
| Plant, machinery and equipment | 23 | €80 | €1,350 | +€1,271 | +1592.3% |
| Furniture and vehicles | 24 | €12,917 | €11,491 | -€1,427 | -11.0% |
| Other tangible fixed assets | 26 | €5,570 | €7,470 | +€1,900 | +34.1% |
| Financial fixed assets | 28 | €200,002 | €200,000 | -€2 | 0.0% |
| Current assets | 29/58 | €45,831 | €126,314 | +€80,483 | +175.6% |
| Amounts receivable within one year | 40/41 | €38,036 | €99,576 | +€61,540 | +161.8% |
| Trade receivables | 40 | €37,600 | €85,105 | +€47,505 | +126.3% |
| Other amounts receivable | 41 | €436 | €14,471 | +€14,035 | +3217.1% |
| Cash at bank and in hand | 54/58 | €7,459 | €26,217 | +€18,758 | +251.5% |
| Deferred charges and accrued income | 490/1 | €335 | €521 | +€185 | +55.3% |
| Total equity and liabilities | 10/49 | €294,624 | €375,760 | +€81,135 | +27.5% |
| Equity | 10/15 | €46,975 | €108,701 | +€61,726 | +131.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €43,975 | €105,701 | +€61,726 | +140.4% |
| Distributable reserves | 133 | €43,975 | €105,701 | +€61,726 | +140.4% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €247,649 | €267,058 | +€19,409 | +7.8% |
| Amounts payable after more than one year | 17 | €146,814 | €124,820 | -€21,994 | -15.0% |
| Financial debts | 170/4 | €146,814 | €124,820 | -€21,994 | -15.0% |
| Amounts payable within one year | 42/48 | €100,522 | €142,238 | +€41,716 | +41.5% |
| Current portion of amounts payable after more than one year | 42 | €21,098 | €21,994 | +€896 | +4.2% |
| Trade debts | 44 | €2,834 | €3,146 | +€313 | +11.0% |
| Suppliers | 440/4 | €2,834 | €3,146 | +€313 | +11.0% |
| Taxes, remuneration and social security | 45 | €5,271 | €5,623 | +€352 | +6.7% |
| Taxes | 450/3 | €5,271 | €5,623 | +€352 | +6.7% |
| Other amounts payable | 47/48 | €71,319 | €111,474 | +€40,155 | +56.3% |
| Accrued charges and deferred income | 492/3 | €313 | €0 | -€313 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,147 | €4,279 | -€868 | -16.9% |
| Other operating charges | 640/8 | €660 | €679 | +€19 | +2.9% |
| Non-recurring operating charges | 66A | - | €80 | +€80 | |
| Gross operating margin | 9900 | €70,597 | €155,844 | +€85,247 | +120.8% |
| Operating profit (loss) | 9901 | €64,790 | €150,807 | +€86,017 | +132.8% |
| Financial income | 75/76B | €0 | €3,111 | +€3,111 | +31106400.0% |
| Recurring financial income | 75 | €0 | €2,383 | +€2,383 | +23833200.0% |
| Non-recurring financial income | 76B | - | €727 | +€727 | |
| Financial charges | 65/66B | €4,260 | €2,940 | -€1,320 | -31.0% |
| Recurring financial charges | 65 | €4,260 | €2,940 | -€1,320 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €60,530 | €150,978 | +€90,447 | +149.4% |
| Income taxes | 67/77 | €16,854 | €39,251 | +€22,398 | +132.9% |
| Profit (loss) for the period | 9904 | €43,677 | €111,726 | +€68,050 | +155.8% |
| Profit (loss) for the period to be appropriated | 9905 | €43,677 | €111,726 | +€68,050 | +155.8% |
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 8 October 2026 via checked.be.