IPS Group: 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 Group
Largest movements
- Receivables within one year -€58,853
down €58,853 (-48.3%), from €121,819 to €62,966
of which Trade receivables: -€58,680
- Current investments +€35,000
new in 2025: €35,000
- Reserves +€656,505
up €656,505 (+7539.5%), from €8,707 to €665,212
of which Distributable reserves: +€642,062
- Other debts -€522,186
down €522,186 (-92.5%), from €564,732 to €42,546
- Debts after one year -€165,429
down €165,429 (-10.9%), from €1.5m to €1.4m
- Trade debts +€108,263
up €108,263 (+235.9%), from €45,888 to €154,151
- Accrued charges and deferred income -€101,246
down €101,246 (-90.1%), from €112,385 to €11,139
- Financial income +€650,781
up €650,781 (+1301.6%), from €50,000 to €700,781
- Gross operating margin -€183,729
down €183,729 (-78.4%), from €234,379 to €50,651
- Financial charges -€30,113
down €30,113 (-24.2%), from €124,240 to €94,127
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 | €2,650,284 | €2,626,190 | -€24,093 | -0.9% |
| Fixed assets | 21/28 | €2,527,200 | €2,527,200 | = | 0.0% |
| Financial fixed assets | 28 | €2,527,200 | €2,527,200 | = | 0.0% |
| Current assets | 29/58 | €123,084 | €98,990 | -€24,093 | -19.6% |
| Amounts receivable within one year | 40/41 | €121,819 | €62,966 | -€58,853 | -48.3% |
| Trade receivables | 40 | €113,647 | €54,967 | -€58,680 | -51.6% |
| Other amounts receivable | 41 | €8,172 | €7,999 | -€173 | -2.1% |
| Current investments | 50/53 | - | €35,000 | +€35,000 | |
| Cash at bank and in hand | 54/58 | €1,264 | €1,024 | -€241 | -19.0% |
| Total equity and liabilities | 10/49 | €2,650,284 | €2,626,190 | -€24,093 | -0.9% |
| Equity | 10/15 | €240,207 | €896,712 | +€656,505 | +273.3% |
| Contributions | 10/11 | €231,500 | €231,500 | = | 0.0% |
| Capital | 10 | €231,500 | €231,500 | = | 0.0% |
| Issued capital | 100 | €231,500 | €231,500 | = | 0.0% |
| Reserves | 13 | €8,707 | €665,212 | +€656,505 | +7539.5% |
| Non-distributable reserves | 130/1 | €8,707 | €23,150 | +€14,443 | +165.9% |
| Legal reserve | 130 | €8,707 | €23,150 | +€14,443 | +165.9% |
| Distributable reserves | 133 | - | €642,062 | +€642,062 | |
| Amounts payable | 17/49 | €2,410,076 | €1,729,478 | -€680,598 | -28.2% |
| Amounts payable after more than one year | 17 | €1,521,642 | €1,356,213 | -€165,429 | -10.9% |
| Financial debts | 170/4 | €1,521,642 | €1,356,213 | -€165,429 | -10.9% |
| Amounts payable within one year | 42/48 | €776,049 | €362,126 | -€413,923 | -53.3% |
| Current portion of amounts payable after more than one year | 42 | €165,429 | €165,429 | = | 0.0% |
| Trade debts | 44 | €45,888 | €154,151 | +€108,263 | +235.9% |
| Suppliers | 440/4 | €45,888 | €154,151 | +€108,263 | +235.9% |
| Other amounts payable | 47/48 | €564,732 | €42,546 | -€522,186 | -92.5% |
| Accrued charges and deferred income | 492/3 | €112,385 | €11,139 | -€101,246 | -90.1% |
| Other operating charges | 640/8 | €1,432 | €800 | -€632 | -44.2% |
| Non-recurring operating charges | 66A | €150,000 | - | -€150,000 | |
| Gross operating margin | 9900 | €234,379 | €50,651 | -€183,729 | -78.4% |
| Operating profit (loss) | 9901 | €82,947 | €49,851 | -€33,096 | -39.9% |
| Financial income | 75/76B | €50,000 | €700,781 | +€650,781 | +1301.6% |
| Recurring financial income | 75 | €50,000 | €700,781 | +€650,781 | +1301.6% |
| Financial charges | 65/66B | €124,240 | €94,127 | -€30,113 | -24.2% |
| Recurring financial charges | 65 | €124,240 | €94,127 | -€30,113 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €8,707 | €656,505 | +€647,797 | +7439.5% |
| Profit (loss) for the period | 9904 | €8,707 | €656,505 | +€647,797 | +7439.5% |
| Profit (loss) for the period to be appropriated | 9905 | €8,707 | €656,505 | +€647,797 | +7439.5% |
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 12 October 2026 via checked.be.