IPSUM vastgoed: what changed
IPSUM vastgoed
Largest movements
- Receivables within one year -€26,214
down €26,214 (-33.6%), from €78,017 to €51,803
of which Other amounts receivable: -€18,867
- Cash -€22,498
down €22,498 (-49.0%), from €45,891 to €23,393
mainly Net result for the year (-€66,155) and Trade debts (-€5,119)
- Deferred charges and accrued income -€13,648
down €13,648 (-81.5%), from €16,743 to €3,095
- Tangible fixed assets -€7,168
down €7,168 (-30.4%), from €23,602 to €16,433
of which Furniture and vehicles: -€4,222
- Reserves -€66,155
down €66,155 (-64.6%), from €102,369 to €36,215
- Trade debts -€5,119
down €5,119 (-23.8%), from €21,522 to €16,404
- Staff costs +€49,555
up €49,555 (+110%), from €45,231 to €94,787
- Gross operating margin -€35,083
down €35,083 (-48.6%), from €72,193 to €37,110
- Taxes -€5,337
down €5,337 (-97.0%), from €5,502 to €165
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €164,252 | €94,724 | -€69,529 | -42.3% |
| Fixed assets | 21/28 | €23,602 | €16,433 | -€7,168 | -30.4% |
| Tangible fixed assets | 22/27 | €23,602 | €16,433 | -€7,168 | -30.4% |
| Plant, machinery and equipment | 23 | €2,992 | €1,671 | -€1,321 | -44.1% |
| Furniture and vehicles | 24 | €7,757 | €3,535 | -€4,222 | -54.4% |
| Other tangible fixed assets | 26 | €12,852 | €11,227 | -€1,626 | -12.6% |
| Current assets | 29/58 | €140,650 | €78,290 | -€62,360 | -44.3% |
| Amounts receivable within one year | 40/41 | €78,017 | €51,803 | -€26,214 | -33.6% |
| Trade receivables | 40 | €49,671 | €42,325 | -€7,347 | -14.8% |
| Other amounts receivable | 41 | €28,346 | €9,479 | -€18,867 | -66.6% |
| Cash at bank and in hand | 54/58 | €45,891 | €23,393 | -€22,498 | -49.0% |
| Deferred charges and accrued income | 490/1 | €16,743 | €3,095 | -€13,648 | -81.5% |
| Total equity and liabilities | 10/49 | €164,252 | €94,724 | -€69,529 | -42.3% |
| Equity | 10/15 | €112,369 | €46,215 | -€66,155 | -58.9% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €102,369 | €36,215 | -€66,155 | -64.6% |
| Distributable reserves | 133 | €102,369 | €36,215 | -€66,155 | -64.6% |
| Amounts payable | 17/49 | €51,883 | €48,509 | -€3,374 | -6.5% |
| Amounts payable within one year | 42/48 | €51,883 | €48,135 | -€3,748 | -7.2% |
| Trade debts | 44 | €21,522 | €16,404 | -€5,119 | -23.8% |
| Suppliers | 440/4 | €21,522 | €16,404 | -€5,119 | -23.8% |
| Taxes, remuneration and social security | 45 | €30,360 | €31,378 | +€1,018 | +3.4% |
| Taxes | 450/3 | €23,187 | €22,079 | -€1,108 | -4.8% |
| Remuneration and social security | 454/9 | €7,173 | €9,299 | +€2,126 | +29.6% |
| Other amounts payable | 47/48 | - | €353 | +€353 | |
| Accrued charges and deferred income | 492/3 | - | €374 | +€374 | |
| Remuneration, social security and pensions | 62 | €45,231 | €94,787 | +€49,555 | +110% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,043 | €7,168 | +€126 | +1.8% |
| Other operating charges | 640/8 | €1,146 | €1,002 | -€144 | -12.5% |
| Gross operating margin | 9900 | €72,193 | €37,110 | -€35,083 | -48.6% |
| Operating profit (loss) | 9901 | €18,773 | -€65,848 | -€84,620 | |
| Financial income | 75/76B | €164 | - | -€164 | |
| Recurring financial income | 75 | €164 | - | -€164 | |
| Financial charges | 65/66B | €747 | €142 | -€606 | -81.0% |
| Recurring financial charges | 65 | €184 | €142 | -€42 | -22.9% |
| Non-recurring financial charges | 66B | €563 | - | -€563 | |
| Profit (loss) for the period before taxes | 9903 | €18,190 | -€65,990 | -€84,179 | |
| Income taxes | 67/77 | €5,502 | €165 | -€5,337 | -97.0% |
| Profit (loss) for the period | 9904 | €12,688 | -€66,155 | -€78,842 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,688 | -€66,155 | -€78,842 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.