IPSM CONSULTANCY: 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.
IPSM CONSULTANCY
Largest movements
- Receivables after one year -€45,000
no longer reported in 2025 (was €45,000)
- Current investments -€44,875
down €44,875 (-61.9%), from €72,500 to €27,625
- Cash +€38,141
up €38,141 (+143.8%), from €26,519 to €64,659
mainly Net result for the year (+€48,264) and Receivables after one year (+€45,000)
- Deferred charges and accrued income -€5,793
down €5,793 (-10.6%), from €54,901 to €49,108
- Tangible fixed assets -€5,320
down €5,320 (-13.9%), from €38,234 to €32,914
of which Plant, machinery and equipment: -€4,710
- Profit (loss) carried forward -€78,636
down €78,636 (-61.9%), from €126,940 to €48,303
- Other debts +€14,283
up €14,283 (+15.5%), from €92,011 to €106,294
- Current portion of long-term debt -€4,528
down €4,528 (-83.0%), from €5,453 to €925
- Tax, wage and social debts +€4,315
up €4,315 (+59.5%), from €7,258 to €11,573
- Gross operating margin -€16,116
down €16,116 (-18.3%), from €87,946 to €71,830
- Financial charges +€6,837
up €6,837 (+1167.1%), from €586 to €7,423
- Taxes -€4,593
down €4,593 (-26.0%), from €17,661 to €13,068
- Depreciation -€3,624
down €3,624 (-35.2%), from €10,290 to €6,666
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 | €257,155 | €191,177 | -€65,978 | -25.7% |
| Fixed assets | 21/28 | €38,234 | €32,914 | -€5,320 | -13.9% |
| Tangible fixed assets | 22/27 | €38,234 | €32,914 | -€5,320 | -13.9% |
| Plant, machinery and equipment | 23 | €22,821 | €18,111 | -€4,710 | -20.6% |
| Furniture and vehicles | 24 | €581 | €1,569 | +€989 | +170.2% |
| Other tangible fixed assets | 26 | €14,832 | €13,234 | -€1,598 | -10.8% |
| Current assets | 29/58 | €218,921 | €158,263 | -€60,658 | -27.7% |
| Amounts receivable after more than one year | 29 | €45,000 | - | -€45,000 | |
| Other amounts receivable | 291 | €45,000 | - | -€45,000 | |
| Amounts receivable within one year | 40/41 | €20,001 | €16,870 | -€3,131 | -15.7% |
| Trade receivables | 40 | €20,001 | €13,685 | -€6,316 | -31.6% |
| Other amounts receivable | 41 | - | €3,185 | +€3,185 | |
| Current investments | 50/53 | €72,500 | €27,625 | -€44,875 | -61.9% |
| Cash at bank and in hand | 54/58 | €26,519 | €64,659 | +€38,141 | +143.8% |
| Deferred charges and accrued income | 490/1 | €54,901 | €49,108 | -€5,793 | -10.6% |
| Total equity and liabilities | 10/49 | €257,155 | €191,177 | -€65,978 | -25.7% |
| Equity | 10/15 | €147,400 | €68,763 | -€78,636 | -53.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €126,940 | €48,303 | -€78,636 | -61.9% |
| Amounts payable | 17/49 | €109,755 | €122,413 | +€12,658 | +11.5% |
| Amounts payable after more than one year | 17 | €925 | - | -€925 | |
| Financial debts | 170/4 | €925 | - | -€925 | |
| Amounts payable within one year | 42/48 | €108,483 | €121,736 | +€13,252 | +12.2% |
| Current portion of amounts payable after more than one year | 42 | €5,453 | €925 | -€4,528 | -83.0% |
| Trade debts | 44 | €3,762 | €2,944 | -€818 | -21.7% |
| Suppliers | 440/4 | €3,762 | €2,944 | -€818 | -21.7% |
| Taxes, remuneration and social security | 45 | €7,258 | €11,573 | +€4,315 | +59.5% |
| Taxes | 450/3 | €7,258 | €11,573 | +€4,315 | +59.5% |
| Other amounts payable | 47/48 | €92,011 | €106,294 | +€14,283 | +15.5% |
| Accrued charges and deferred income | 492/3 | €347 | €678 | +€331 | +95.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,290 | €6,666 | -€3,624 | -35.2% |
| Other operating charges | 640/8 | €592 | €610 | +€18 | +3.0% |
| Gross operating margin | 9900 | €87,946 | €71,830 | -€16,116 | -18.3% |
| Operating profit (loss) | 9901 | €77,065 | €64,554 | -€12,511 | -16.2% |
| Financial income | 75/76B | €3,665 | €4,201 | +€536 | +14.6% |
| Recurring financial income | 75 | €3,665 | €4,201 | +€536 | +14.6% |
| Financial charges | 65/66B | €586 | €7,423 | +€6,837 | +1167.1% |
| Recurring financial charges | 65 | €586 | €7,423 | +€6,837 | +1167.1% |
| Profit (loss) for the period before taxes | 9903 | €80,144 | €61,332 | -€18,812 | -23.5% |
| Income taxes | 67/77 | €17,661 | €13,068 | -€4,593 | -26.0% |
| Profit (loss) for the period | 9904 | €62,483 | €48,264 | -€14,219 | -22.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,483 | €48,264 | -€14,219 | -22.8% |
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 9 October 2026 via checked.be.