IPSIS WORKS: 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.
IPSIS WORKS
Largest movements
- Tangible fixed assets -€54,088
down €54,088 (-4.9%), from €1.1m to €1.1m
of which Land and buildings: -€52,669
- Receivables within one year +€30,783
up €30,783 (+46.6%), from €66,055 to €96,839
of which Other amounts receivable: +€23,048
- Cash -€14,094
down €14,094 (-79.2%), from €17,792 to €3,698
mainly Receivables within one year (-€30,783) and Net result for the year (-€20,513)
- Profit (loss) carried forward -€20,513
down €20,513 (-5.9%), from -€349,075 to -€369,588
- Debts after one year -€19,228
down €19,228 (-1.9%), from €1.0m to €1.0m
- Gross operating margin +€3,815
up €3,815 (+7.1%), from €53,460 to €57,274
- Financial charges +€787
up €787 (+5.0%), from €15,706 to €16,492
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 | €1,198,872 | €1,161,473 | -€37,399 | -3.1% |
| Fixed assets | 21/28 | €1,115,025 | €1,060,936 | -€54,088 | -4.9% |
| Tangible fixed assets | 22/27 | €1,114,740 | €1,060,651 | -€54,088 | -4.9% |
| Land and buildings | 22 | €1,078,193 | €1,025,524 | -€52,669 | -4.9% |
| Plant, machinery and equipment | 23 | €2,165 | €1,269 | -€896 | -41.4% |
| Furniture and vehicles | 24 | €4,014 | €3,491 | -€523 | -13.0% |
| Other tangible fixed assets | 26 | €30,367 | €30,367 | = | 0.0% |
| Financial fixed assets | 28 | €285 | €285 | = | 0.0% |
| Current assets | 29/58 | €83,847 | €100,537 | +€16,689 | +19.9% |
| Amounts receivable within one year | 40/41 | €66,055 | €96,839 | +€30,783 | +46.6% |
| Trade receivables | 40 | €27,625 | €35,361 | +€7,736 | +28.0% |
| Other amounts receivable | 41 | €38,430 | €61,478 | +€23,048 | +60.0% |
| Cash at bank and in hand | 54/58 | €17,792 | €3,698 | -€14,094 | -79.2% |
| Total equity and liabilities | 10/49 | €1,198,872 | €1,161,473 | -€37,399 | -3.1% |
| Equity | 10/15 | €75,119 | €54,607 | -€20,513 | -27.3% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Revaluation surpluses | 12 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €248 | €248 | = | 0.0% |
| Non-distributable reserves | 130/1 | €248 | €248 | = | 0.0% |
| Legal reserve | 130 | €248 | €248 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€349,075 | -€369,588 | -€20,513 | -5.9% |
| Amounts payable | 17/49 | €1,123,753 | €1,106,866 | -€16,886 | -1.5% |
| Amounts payable after more than one year | 17 | €1,039,234 | €1,020,006 | -€19,228 | -1.9% |
| Financial debts | 170/4 | €1,039,234 | €1,020,006 | -€19,228 | -1.9% |
| Amounts payable within one year | 42/48 | €84,519 | €86,860 | +€2,341 | +2.8% |
| Current portion of amounts payable after more than one year | 42 | €38,439 | €39,228 | +€789 | +2.1% |
| Financial debts | 43 | €1,723 | €1,715 | -€8 | -0.5% |
| Credit institutions | 430/8 | €1,723 | €1,715 | -€8 | -0.5% |
| Trade debts | 44 | €44,356 | €45,918 | +€1,561 | +3.5% |
| Suppliers | 440/4 | €44,356 | €45,918 | +€1,561 | +3.5% |
| Remuneration, social security and pensions | 62 | €55 | - | -€55 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,952 | €57,307 | +€355 | +0.6% |
| Other operating charges | 640/8 | €3,900 | €3,989 | +€90 | +2.3% |
| Gross operating margin | 9900 | €53,460 | €57,274 | +€3,815 | +7.1% |
| Operating profit (loss) | 9901 | -€7,446 | -€4,021 | +€3,425 | +46.0% |
| Financial income | 75/76B | €1 | €1 | +€0 | +46.7% |
| Recurring financial income | 75 | €1 | €1 | +€0 | +46.7% |
| Financial charges | 65/66B | €15,706 | €16,492 | +€787 | +5.0% |
| Recurring financial charges | 65 | €15,706 | €16,492 | +€787 | +5.0% |
| Profit (loss) for the period before taxes | 9903 | -€23,151 | -€20,513 | +€2,639 | +11.4% |
| Income taxes | 67/77 | €1 | - | -€1 | |
| Profit (loss) for the period | 9904 | -€23,153 | -€20,513 | +€2,640 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,153 | -€20,513 | +€2,640 | +11.4% |
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 20 October 2026 via checked.be.