IPSAG: 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.
IPSAG
Largest movements
- Cash +€3,103
up €3,103 (+1,389%), from €223 to €3,327
mainly Other debts (+€3,276) and Net result for the year (+€1,175)
- Receivables within one year +€2,296
up €2,296 (+7.3%), from €31,348 to €33,644
of which Trade receivables: +€3,152
- Other debts +€3,276
up €3,276 (+41.4%), from €7,905 to €11,181
- Profit (loss) carried forward +€1,175
up €1,175 (+5.2%), from €22,666 to €23,841
- Tax, wage and social debts +€948
new in 2025: €948
- Gross operating margin +€5,488
up €5,488, from -€4,175 to €1,313
- Other operating charges -€846
no longer reported in 2025 (was €846)
- Financial charges -€210
down €210 (-60.3%), from €348 to €138
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 | €31,572 | €36,971 | +€5,399 | +17.1% |
| Current assets | 29/58 | €31,572 | €36,971 | +€5,399 | +17.1% |
| Amounts receivable within one year | 40/41 | €31,348 | €33,644 | +€2,296 | +7.3% |
| Trade receivables | 40 | €18,229 | €21,382 | +€3,152 | +17.3% |
| Other amounts receivable | 41 | €13,119 | €12,262 | -€856 | -6.5% |
| Cash at bank and in hand | 54/58 | €223 | €3,327 | +€3,103 | +1,389% |
| Total equity and liabilities | 10/49 | €31,572 | €36,971 | +€5,399 | +17.1% |
| Equity | 10/15 | €23,666 | €24,841 | +€1,175 | +5.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Capital | 10 | €1,000 | €1,000 | = | 0.0% |
| Issued capital | 100 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €22,666 | €23,841 | +€1,175 | +5.2% |
| Amounts payable | 17/49 | €7,905 | €12,129 | +€4,224 | +53.4% |
| Amounts payable within one year | 42/48 | €7,905 | €12,129 | +€4,224 | +53.4% |
| Taxes, remuneration and social security | 45 | - | €948 | +€948 | |
| Taxes | 450/3 | - | €948 | +€948 | |
| Other amounts payable | 47/48 | €7,905 | €11,181 | +€3,276 | +41.4% |
| Other operating charges | 640/8 | €846 | - | -€846 | |
| Gross operating margin | 9900 | -€4,175 | €1,313 | +€5,488 | |
| Operating profit (loss) | 9901 | -€5,021 | €1,313 | +€6,334 | |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €348 | €138 | -€210 | -60.3% |
| Recurring financial charges | 65 | €348 | €138 | -€210 | -60.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,362 | €1,175 | +€6,537 | |
| Profit (loss) for the period | 9904 | -€5,362 | €1,175 | +€6,537 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,362 | €1,175 | +€6,537 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.