IPS BARS: 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.
IPS BARS
Largest movements
- Tangible fixed assets +€292,634
up €292,634 (+1661.5%), from €17,612 to €310,247
of which Other tangible fixed assets: +€298,470
- Receivables within one year +€274,170
up €274,170 (+52950.0%), from €518 to €274,688
of which Other amounts receivable: +€176,618
- Cash -€14,852
down €14,852 (-53.5%), from €27,776 to €12,924
mainly Investment in fixed assets (net) (-€303,851) and Receivables within one year (-€274,170)
- Debts after one year +€326,282
new in 2025: €326,282
- Trade debts +€154,919
up €154,919 (+571.3%), from €27,115 to €182,034
- Other debts +€104,196
up €104,196 (+1353.2%), from €7,700 to €111,896
- Profit (loss) carried forward -€59,426
down €59,426 (-70.8%), from -€83,993 to -€143,419
- Current portion of long-term debt +€28,718
new in 2025: €28,718
- Gross operating margin -€22,000
down €22,000 (-234.6%), from -€9,379 to -€31,380
- Staff costs -€11,024
down €11,024 (-50.4%), from €21,851 to €10,828
- Depreciation +€9,014
up €9,014 (+409.2%), from €2,203 to €11,217
- Other operating charges +€1,189
up €1,189 (+91.5%), from €1,299 to €2,488
- Financial charges +€490
up €490 (+13.3%), from €3,674 to €4,164
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 | €57,889 | €607,858 | +€549,969 | +950.0% |
| Fixed assets | 21/28 | €17,612 | €310,247 | +€292,634 | +1661.5% |
| Tangible fixed assets | 22/27 | €17,612 | €310,247 | +€292,634 | +1661.5% |
| Plant, machinery and equipment | 23 | €14,335 | €11,466 | -€2,869 | -20.0% |
| Furniture and vehicles | 24 | €3,277 | €310 | -€2,967 | -90.5% |
| Other tangible fixed assets | 26 | - | €298,470 | +€298,470 | |
| Current assets | 29/58 | €40,277 | €297,612 | +€257,335 | +638.9% |
| Stocks and contracts in progress | 3 | €11,984 | €10,000 | -€1,984 | -16.6% |
| Stocks | 30/36 | €11,984 | €10,000 | -€1,984 | -16.6% |
| Amounts receivable within one year | 40/41 | €518 | €274,688 | +€274,170 | +52950.0% |
| Trade receivables | 40 | €360 | €97,912 | +€97,552 | +27097.9% |
| Other amounts receivable | 41 | €158 | €176,775 | +€176,618 | +111932.0% |
| Cash at bank and in hand | 54/58 | €27,776 | €12,924 | -€14,852 | -53.5% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €57,889 | €607,858 | +€549,969 | +950.0% |
| Equity | 10/15 | €10,516 | -€48,910 | -€59,426 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €92,509 | €92,509 | = | 0.0% |
| Distributable reserves | 133 | €92,509 | €92,509 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€83,993 | -€143,419 | -€59,426 | -70.8% |
| Amounts payable | 17/49 | €47,373 | €656,768 | +€609,395 | +1286.4% |
| Amounts payable after more than one year | 17 | - | €326,282 | +€326,282 | |
| Financial debts | 170/4 | - | €326,282 | +€326,282 | |
| Amounts payable within one year | 42/48 | €47,373 | €323,173 | +€275,799 | +582.2% |
| Current portion of amounts payable after more than one year | 42 | - | €28,718 | +€28,718 | |
| Financial debts | 43 | - | €363 | +€363 | |
| Credit institutions | 430/8 | - | €363 | +€363 | |
| Trade debts | 44 | €27,115 | €182,034 | +€154,919 | +571.3% |
| Suppliers | 440/4 | €27,115 | €182,034 | +€154,919 | +571.3% |
| Taxes, remuneration and social security | 45 | €12,559 | €162 | -€12,397 | -98.7% |
| Taxes | 450/3 | €7,888 | €162 | -€7,726 | -98.0% |
| Remuneration and social security | 454/9 | €4,671 | €0 | -€4,671 | -100.0% |
| Other amounts payable | 47/48 | €7,700 | €111,896 | +€104,196 | +1353.2% |
| Accrued charges and deferred income | 492/3 | - | €7,314 | +€7,314 | |
| Remuneration, social security and pensions | 62 | €21,851 | €10,828 | -€11,024 | -50.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,203 | €11,217 | +€9,014 | +409.2% |
| Other operating charges | 640/8 | €1,299 | €2,488 | +€1,189 | +91.5% |
| Gross operating margin | 9900 | -€9,379 | -€31,380 | -€22,000 | -234.6% |
| Operating profit (loss) | 9901 | -€34,732 | -€55,912 | -€21,179 | -61.0% |
| Financial income | 75/76B | €252 | €697 | +€444 | +175.9% |
| Recurring financial income | 75 | €252 | €697 | +€444 | +175.9% |
| Financial charges | 65/66B | €3,674 | €4,164 | +€490 | +13.3% |
| Recurring financial charges | 65 | €3,674 | €4,164 | +€490 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | -€38,154 | -€59,379 | -€21,225 | -55.6% |
| Income taxes | 67/77 | €115 | €46 | -€69 | -59.8% |
| Profit (loss) for the period | 9904 | -€38,269 | -€59,426 | -€21,156 | -55.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€38,269 | -€59,426 | -€21,156 | -55.3% |
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 9 October 2026 via checked.be.