IPS Belgium: 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 Belgium
Largest movements
- Cash +€61,466
up €61,466 (+397%), from €15,493 to €76,959
mainly Net result for the year (+€175,330) and Other debts (+€153,563)
- Receivables within one year -€32,236
down €32,236 (-2.1%), from €1.5m to €1.5m
of which Trade receivables: -€16,699
- Other debts +€153,563
new in 2025: €153,563
- Trade debts -€137,859
down €137,859 (-14.6%), from €941,185 to €803,326
- Reserves +€21,767
up €21,767 (+5.4%), from €404,698 to €426,465
- Financial income +€8,455
up €8,455 (+37.5%), from €22,518 to €30,973
- Gross operating margin +€7,912
up €7,912 (+4.0%), from €200,013 to €207,925
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 | €1,554,297 | €1,583,023 | +€28,726 | +1.8% |
| Current assets | 29/58 | €1,554,297 | €1,583,023 | +€28,726 | +1.8% |
| Amounts receivable within one year | 40/41 | €1,538,091 | €1,505,854 | -€32,236 | -2.1% |
| Trade receivables | 40 | €482,726 | €466,026 | -€16,699 | -3.5% |
| Other amounts receivable | 41 | €1,055,365 | €1,039,828 | -€15,537 | -1.5% |
| Cash at bank and in hand | 54/58 | €15,493 | €76,959 | +€61,466 | +397% |
| Deferred charges and accrued income | 490/1 | €713 | €210 | -€503 | -70.6% |
| Total equity and liabilities | 10/49 | €1,554,297 | €1,583,023 | +€28,726 | +1.8% |
| Equity | 10/15 | €406,558 | €428,325 | +€21,767 | +5.4% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €404,698 | €426,465 | +€21,767 | +5.4% |
| Distributable reserves | 133 | €404,698 | €426,465 | +€21,767 | +5.4% |
| Amounts payable | 17/49 | €1,147,739 | €1,154,698 | +€6,959 | +0.6% |
| Amounts payable within one year | 42/48 | €1,147,696 | €1,154,698 | +€7,003 | +0.6% |
| Trade debts | 44 | €941,185 | €803,326 | -€137,859 | -14.6% |
| Suppliers | 440/4 | €941,185 | €803,326 | -€137,859 | -14.6% |
| Taxes, remuneration and social security | 45 | €206,510 | €197,809 | -€8,701 | -4.2% |
| Taxes | 450/3 | €206,510 | €197,809 | -€8,701 | -4.2% |
| Other amounts payable | 47/48 | - | €153,563 | +€153,563 | |
| Accrued charges and deferred income | 492/3 | €44 | - | -€44 | |
| Other operating charges | 640/8 | €559 | €697 | +€138 | +24.7% |
| Gross operating margin | 9900 | €200,013 | €207,925 | +€7,912 | +4.0% |
| Operating profit (loss) | 9901 | €199,454 | €207,227 | +€7,774 | +3.9% |
| Financial income | 75/76B | €22,518 | €30,973 | +€8,455 | +37.5% |
| Recurring financial income | 75 | €22,518 | €30,973 | +€8,455 | +37.5% |
| Financial charges | 65/66B | €577 | €517 | -€60 | -10.5% |
| Recurring financial charges | 65 | €577 | €517 | -€60 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €221,395 | €237,684 | +€16,289 | +7.4% |
| Income taxes | 67/77 | €60,605 | €62,354 | +€1,749 | +2.9% |
| Profit (loss) for the period | 9904 | €160,790 | €175,330 | +€14,540 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €160,790 | €175,330 | +€14,540 | +9.0% |
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 23 October 2026 via checked.be.