IPTO: 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.
IPTO
Largest movements
- Receivables within one year -€155,974
down €155,974 (-39.5%), from €395,040 to €239,065
of which Other amounts receivable: -€169,306
- Stocks and contracts +€100,344
up €100,344 (+30.7%), from €326,912 to €427,256
- Cash -€28,613
down €28,613 (-11.6%), from €245,871 to €217,259
mainly Current portion of long-term debt (-€266,599) and Trade debts (-€214,811)
- Tangible fixed assets +€23,164
up €23,164 (+5.7%), from €405,250 to €428,414
of which Land and buildings: +€46,549
- Debts after one year +€287,380
up €287,380 (+50.7%), from €566,925 to €854,305
of which Trade debts: +€231,779
- Current portion of long-term debt -€266,599
down €266,599 (-69.3%), from €384,852 to €118,253
- Trade debts -€214,811
down €214,811 (-55.0%), from €390,240 to €175,429
- Profit (loss) carried forward +€131,919
up €131,919 (+89.9%), from -€146,759 to -€14,840
- Gross operating margin +€384,080
up €384,080 (+87.1%), from €440,848 to €824,927
- Financial income +€29,714
up €29,714 (+1336.0%), from €2,224 to €31,938
of which Non-recurring financial income: +€30,000
- Depreciation +€28,750
up €28,750 (+160.1%), from €17,961 to €46,711
- Other operating charges +€18,450
up €18,450 (+593.2%), from €3,110 to €21,560
- Staff costs -€13,520
down €13,520 (-2.1%), from €650,067 to €636,547
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,376,548 | €1,319,030 | -€57,518 | -4.2% |
| Fixed assets | 21/28 | €406,750 | €429,914 | +€23,164 | +5.7% |
| Tangible fixed assets | 22/27 | €405,250 | €428,414 | +€23,164 | +5.7% |
| Land and buildings | 22 | €182,573 | €229,123 | +€46,549 | +25.5% |
| Plant, machinery and equipment | 23 | €222,676 | €199,291 | -€23,385 | -10.5% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €969,799 | €889,117 | -€80,682 | -8.3% |
| Stocks and contracts in progress | 3 | €326,912 | €427,256 | +€100,344 | +30.7% |
| Stocks | 30/36 | €326,912 | €427,256 | +€100,344 | +30.7% |
| Amounts receivable within one year | 40/41 | €395,040 | €239,065 | -€155,974 | -39.5% |
| Trade receivables | 40 | €88,187 | €101,519 | +€13,332 | +15.1% |
| Other amounts receivable | 41 | €306,853 | €137,546 | -€169,306 | -55.2% |
| Cash at bank and in hand | 54/58 | €245,871 | €217,259 | -€28,613 | -11.6% |
| Deferred charges and accrued income | 490/1 | €1,975 | €5,537 | +€3,561 | +180.3% |
| Total equity and liabilities | 10/49 | €1,376,548 | €1,319,030 | -€57,518 | -4.2% |
| Equity | 10/15 | -€75,381 | €56,539 | +€131,919 | |
| Contributions | 10/11 | €71,379 | €71,379 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€146,759 | -€14,840 | +€131,919 | +89.9% |
| Amounts payable | 17/49 | €1,451,929 | €1,262,492 | -€189,437 | -13.0% |
| Amounts payable after more than one year | 17 | €566,925 | €854,305 | +€287,380 | +50.7% |
| Financial debts | 170/4 | €293,956 | €349,557 | +€55,602 | +18.9% |
| Trade debts | 175 | €272,969 | €504,748 | +€231,779 | +84.9% |
| Amounts payable within one year | 42/48 | €884,604 | €408,187 | -€476,418 | -53.9% |
| Current portion of amounts payable after more than one year | 42 | €384,852 | €118,253 | -€266,599 | -69.3% |
| Trade debts | 44 | €390,240 | €175,429 | -€214,811 | -55.0% |
| Suppliers | 440/4 | €390,240 | €175,429 | -€214,811 | -55.0% |
| Taxes, remuneration and social security | 45 | €108,175 | €114,505 | +€6,330 | +5.9% |
| Remuneration and social security | 454/9 | €108,175 | €114,505 | +€6,330 | +5.9% |
| Other amounts payable | 47/48 | €1,338 | - | -€1,338 | |
| Accrued charges and deferred income | 492/3 | €400 | - | -€400 | |
| Remuneration, social security and pensions | 62 | €650,067 | €636,547 | -€13,520 | -2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,961 | €46,711 | +€28,750 | +160.1% |
| Other operating charges | 640/8 | €3,110 | €21,560 | +€18,450 | +593.2% |
| Gross operating margin | 9900 | €440,848 | €824,927 | +€384,080 | +87.1% |
| Operating profit (loss) | 9901 | -€230,291 | €120,108 | +€350,399 | |
| Financial income | 75/76B | €2,224 | €31,938 | +€29,714 | +1336.0% |
| Recurring financial income | 75 | €2,224 | €1,938 | -€286 | -12.9% |
| Non-recurring financial income | 76B | - | €30,000 | +€30,000 | |
| Financial charges | 65/66B | €6,754 | €20,127 | +€13,373 | +198.0% |
| Recurring financial charges | 65 | €6,754 | €20,127 | +€13,373 | +198.0% |
| Profit (loss) for the period before taxes | 9903 | -€234,821 | €131,919 | +€366,740 | |
| Profit (loss) for the period | 9904 | -€234,821 | €131,919 | +€366,740 | |
| Profit (loss) for the period to be appropriated | 9905 | -€234,821 | €131,919 | +€366,740 |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.