IPSOMAG: 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.
IPSOMAG
Largest movements
- Cash +€25,507
up €25,507 (+115.2%), from €22,149 to €47,656
mainly Current investments (+€25,000) and Depreciation (+€18,309)
- Current investments -€25,000
down €25,000 (-20.0%), from €125,000 to €100,000
- Tangible fixed assets -€18,309
down €18,309 (-6.1%), from €299,573 to €281,264
of which Land and buildings: -€9,476
- Debts after one year -€19,168
down €19,168 (-7.2%), from €265,942 to €246,774
- Other debts -€10,105
down €10,105 (-37.1%), from €27,270 to €17,165
- Profit (loss) carried forward +€6,148
up €6,148 (+24.2%), from €25,438 to €31,586
- Gross operating margin -€146,811
down €146,811 (-78.9%), from €186,153 to €39,342
- Taxes +€6,872
new in 2025: €6,872
- Other operating charges -€3,670
down €3,670 (-43.9%), from €8,362 to €4,692
- Financial income +€2,037
up €2,037 (+295.2%), from €690 to €2,727
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 | €451,002 | €431,213 | -€19,789 | -4.4% |
| Fixed assets | 21/28 | €300,184 | €281,875 | -€18,309 | -6.1% |
| Tangible fixed assets | 22/27 | €299,573 | €281,264 | -€18,309 | -6.1% |
| Land and buildings | 22 | €270,053 | €260,577 | -€9,476 | -3.5% |
| Plant, machinery and equipment | 23 | €9,764 | €7,567 | -€2,197 | -22.5% |
| Furniture and vehicles | 24 | €14,726 | €9,817 | -€4,909 | -33.3% |
| Other tangible fixed assets | 26 | €5,030 | €3,303 | -€1,727 | -34.3% |
| Financial fixed assets | 28 | €611 | €611 | = | 0.0% |
| Current assets | 29/58 | €150,818 | €149,338 | -€1,480 | -1.0% |
| Stocks and contracts in progress | 3 | €392 | €152 | -€240 | -61.2% |
| Stocks | 30/36 | €392 | €152 | -€240 | -61.2% |
| Amounts receivable within one year | 40/41 | €3,277 | €1,530 | -€1,747 | -53.3% |
| Trade receivables | 40 | €1,602 | €1,530 | -€72 | -4.5% |
| Other amounts receivable | 41 | €1,675 | - | -€1,675 | |
| Current investments | 50/53 | €125,000 | €100,000 | -€25,000 | -20.0% |
| Cash at bank and in hand | 54/58 | €22,149 | €47,656 | +€25,507 | +115.2% |
| Total equity and liabilities | 10/49 | €451,002 | €431,213 | -€19,789 | -4.4% |
| Equity | 10/15 | €51,351 | €57,499 | +€6,148 | +12.0% |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Reserves | 13 | €1,113 | €1,113 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,113 | €1,113 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,113 | €1,113 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,438 | €31,586 | +€6,148 | +24.2% |
| Provisions and deferred taxes | 16 | €80,000 | €80,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €80,000 | €80,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €80,000 | €80,000 | = | 0.0% |
| Amounts payable | 17/49 | €319,651 | €293,714 | -€25,937 | -8.1% |
| Amounts payable after more than one year | 17 | €265,942 | €246,774 | -€19,168 | -7.2% |
| Financial debts | 170/4 | €265,942 | €246,774 | -€19,168 | -7.2% |
| Amounts payable within one year | 42/48 | €53,709 | €46,940 | -€6,769 | -12.6% |
| Current portion of amounts payable after more than one year | 42 | €21,956 | €25,317 | +€3,361 | +15.3% |
| Trade debts | 44 | €4,483 | €138 | -€4,345 | -96.9% |
| Suppliers | 440/4 | €4,483 | €138 | -€4,345 | -96.9% |
| Taxes, remuneration and social security | 45 | - | €4,320 | +€4,320 | |
| Taxes | 450/3 | - | €4,320 | +€4,320 | |
| Other amounts payable | 47/48 | €27,270 | €17,165 | -€10,105 | -37.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,112 | €18,309 | -€803 | -4.2% |
| Other operating charges | 640/8 | €8,362 | €4,692 | -€3,670 | -43.9% |
| Non-recurring operating charges | 66A | €89,998 | - | -€89,998 | |
| Gross operating margin | 9900 | €186,153 | €39,342 | -€146,811 | -78.9% |
| Operating profit (loss) | 9901 | €68,681 | €16,341 | -€52,340 | -76.2% |
| Financial income | 75/76B | €690 | €2,727 | +€2,037 | +295.2% |
| Recurring financial income | 75 | €690 | €2,727 | +€2,037 | +295.2% |
| Financial charges | 65/66B | €6,238 | €6,048 | -€190 | -3.0% |
| Recurring financial charges | 65 | €6,238 | €6,048 | -€190 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €63,133 | €13,020 | -€50,113 | -79.4% |
| Income taxes | 67/77 | - | €6,872 | +€6,872 | |
| Profit (loss) for the period | 9904 | €63,133 | €6,148 | -€56,985 | -90.3% |
| Profit (loss) for the period to be appropriated | 9905 | €63,133 | €6,148 | -€56,985 | -90.3% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.