IPSEOS: 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.
IPSEOS
Largest movements
- Intangible fixed assets -€42,870
down €42,870 (-18.2%), from €235,754 to €192,884
- Current investments +€29,915
up €29,915 (+150.8%), from €19,836 to €49,751
- Cash -€28,284
down €28,284 (-25.8%), from €109,512 to €81,228
mainly Trade debts (-€45,808) and Current investments (-€29,915)
- Receivables within one year +€18,842
up €18,842 (+69.1%), from €27,272 to €46,114
of which Trade receivables: +€21,488
- Trade debts -€45,808
down €45,808 (-15.8%), from €289,983 to €244,175
- Advances received +€30,290
up €30,290 (+673.1%), from €4,500 to €34,790
- Gross operating margin +€63,509
up €63,509 (+136.8%), from €46,424 to €109,933
- Financial income -€10,741
down €10,741 (-39.1%), from €27,464 to €16,723
- Taxes -€3,177
down €3,177 (-94.9%), from €3,347 to €170
- Staff costs -€2,978
down €2,978 (-3.8%), from €78,210 to €75,232
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 | €392,374 | €369,977 | -€22,397 | -5.7% |
| Fixed assets | 21/28 | €235,754 | €192,884 | -€42,870 | -18.2% |
| Intangible fixed assets | 21 | €235,754 | €192,884 | -€42,870 | -18.2% |
| Current assets | 29/58 | €156,620 | €177,093 | +€20,473 | +13.1% |
| Amounts receivable within one year | 40/41 | €27,272 | €46,114 | +€18,842 | +69.1% |
| Trade receivables | 40 | €17,129 | €38,617 | +€21,488 | +125.4% |
| Other amounts receivable | 41 | €10,143 | €7,497 | -€2,646 | -26.1% |
| Current investments | 50/53 | €19,836 | €49,751 | +€29,915 | +150.8% |
| Cash at bank and in hand | 54/58 | €109,512 | €81,228 | -€28,284 | -25.8% |
| Total equity and liabilities | 10/49 | €392,374 | €369,977 | -€22,397 | -5.7% |
| Equity | 10/15 | €10,551 | €7,224 | -€3,327 | -31.5% |
| Contributions | 10/11 | €30,987 | €30,987 | = | 0.0% |
| Reserves | 13 | €4,281 | €4,281 | = | 0.0% |
| Distributable reserves | 133 | €4,281 | €4,281 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€24,717 | -€28,044 | -€3,327 | -13.5% |
| Amounts payable | 17/49 | €381,823 | €362,753 | -€19,070 | -5.0% |
| Amounts payable within one year | 42/48 | €381,823 | €362,753 | -€19,070 | -5.0% |
| Trade debts | 44 | €289,983 | €244,175 | -€45,808 | -15.8% |
| Suppliers | 440/4 | €289,983 | €244,175 | -€45,808 | -15.8% |
| Advances received on contracts in progress | 46 | €4,500 | €34,790 | +€30,290 | +673.1% |
| Taxes, remuneration and social security | 45 | €14,034 | €10,482 | -€3,552 | -25.3% |
| Remuneration and social security | 454/9 | €14,034 | €10,482 | -€3,552 | -25.3% |
| Other amounts payable | 47/48 | €73,306 | €73,306 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €78,210 | €75,232 | -€2,978 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,277 | €42,870 | -€407 | -0.9% |
| Other operating charges | 640/8 | €981 | €260 | -€721 | -73.5% |
| Gross operating margin | 9900 | €46,424 | €109,933 | +€63,509 | +136.8% |
| Operating profit (loss) | 9901 | -€76,044 | -€8,429 | +€67,615 | +88.9% |
| Financial income | 75/76B | €27,464 | €16,723 | -€10,741 | -39.1% |
| Recurring financial income | 75 | €27,464 | €16,723 | -€10,741 | -39.1% |
| Financial charges | 65/66B | €12,530 | €11,451 | -€1,079 | -8.6% |
| Recurring financial charges | 65 | €12,530 | €11,451 | -€1,079 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | -€61,110 | -€3,157 | +€57,953 | +94.8% |
| Income taxes | 67/77 | €3,347 | €170 | -€3,177 | -94.9% |
| Profit (loss) for the period | 9904 | -€64,457 | -€3,327 | +€61,130 | +94.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€64,457 | -€3,327 | +€61,130 | +94.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.