IPULAZI: 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.
What changed
IPULAZI
NACE 70.200, Business and other management consultancy
financial year 2025 against 2026filed annual accounts (NBB)
Net result for the year
-€76,030
2025 · -€154,750+€78,720
Equity
-€640,095
2025 · -€564,065-€76,030
Cash
€10,892
2025 · €19,112-€8,219
Balance sheet total
€849,401
2025 · €1.2m-€309,048
Largest movements
Assets
- Tangible fixed assets -€153,527
down €153,527 (-23.1%), from €665,896 to €512,369
of which Leasing and similar rights: -€156,596
- Intangible fixed assets -€153,099
down €153,099 (-33.3%), from €459,296 to €306,197
Equity and liabilities
- Debts after one year -€128,384
down €128,384 (-11.4%), from €1.1m to €999,317
of which Financial debts: -€128,384
- Other debts -€103,776
down €103,776 (-22.3%), from €465,133 to €361,357
- Profit (loss) carried forward -€76,030
down €76,030 (-5.5%), from -€1.4m to -€1.5m
Income statement
- Other operating charges -€41,850
down €41,850 (-70.3%), from €59,569 to €17,719
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.
Result 2025
-€154,750
Gross operating margin
-€425
Depreciation
-€767
Other operating charges
+€41,850
Other operating items
+€36,364
Financial income
+€53
Financial charges
+€1,644
Result 2026
-€76,030
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.
From operations
+€120,191
Investment
-€3,836
Financing
-€124,574
Cash 2025
€19,112
From operations (derived)
+€120,191
Net result for the year
-€76,030
Depreciation
+€310,462
Receivables within one year
-€2,972
Deferred charges and accrued income
-€2,825
Tax, wage and social debts
-€4,667
Other debts
-€103,776
Investment (derived)
-€3,836
Investment in fixed assets (net)
-€3,836
Financing
-€124,574
Debts after one year
-€128,384
Current portion of long-term debt
+€3,809
Cash 2026
€10,892
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,158,448 | €849,401 | -€309,048 | -26.7% |
| Fixed assets | 21/28 | €1,125,192 | €818,566 | -€306,626 | -27.3% |
| Intangible fixed assets | 21 | €459,296 | €306,197 | -€153,099 | -33.3% |
| Tangible fixed assets | 22/27 | €665,896 | €512,369 | -€153,527 | -23.1% |
| Land and buildings | 22 | €468 | €468 | = | 0.0% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | - | €3,069 | +€3,069 | |
| Leasing and similar rights | 25 | €665,427 | €508,831 | -€156,596 | -23.5% |
| Current assets | 29/58 | €33,256 | €30,835 | -€2,422 | -7.3% |
| Amounts receivable within one year | 40/41 | €13,759 | €16,731 | +€2,972 | +21.6% |
| Trade receivables | 40 | €11,284 | €12,678 | +€1,394 | +12.4% |
| Other amounts receivable | 41 | €2,475 | €4,053 | +€1,578 | +63.8% |
| Cash at bank and in hand | 54/58 | €19,112 | €10,892 | -€8,219 | -43.0% |
| Deferred charges and accrued income | 490/1 | €386 | €3,211 | +€2,825 | +731.9% |
| Total equity and liabilities | 10/49 | €1,158,448 | €849,401 | -€309,048 | -26.7% |
| Equity | 10/15 | -€564,065 | -€640,095 | -€76,030 | -13.5% |
| Contributions | 10/11 | €275,631 | €275,631 | = | 0.0% |
| Capital | 10 | €275,631 | €275,631 | = | 0.0% |
| Issued capital | 100 | €275,631 | €275,631 | = | 0.0% |
| Reserves | 13 | €543,869 | €543,869 | = | 0.0% |
| Non-distributable reserves | 130/1 | €74,500 | €74,500 | = | 0.0% |
| Legal reserve | 130 | €74,500 | €74,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €469,369 | €469,369 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,383,565 | -€1,459,595 | -€76,030 | -5.5% |
| Amounts payable | 17/49 | €1,722,514 | €1,489,496 | -€233,018 | -13.5% |
| Amounts payable after more than one year | 17 | €1,127,701 | €999,317 | -€128,384 | -11.4% |
| Financial debts | 170/4 | €359,137 | €230,753 | -€128,384 | -35.7% |
| Other amounts payable | 178/9 | €768,564 | €768,564 | = | 0.0% |
| Amounts payable within one year | 42/48 | €594,813 | €490,179 | -€104,634 | -17.6% |
| Current portion of amounts payable after more than one year | 42 | €124,574 | €128,384 | +€3,809 | +3.1% |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €5,105 | €438 | -€4,667 | -91.4% |
| Taxes | 450/3 | €5,105 | €438 | -€4,667 | -91.4% |
| Other amounts payable | 47/48 | €465,133 | €361,357 | -€103,776 | -22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €309,695 | €310,462 | +€767 | +0.2% |
| Other operating charges | 640/8 | €59,569 | €17,719 | -€41,850 | -70.3% |
| Non-recurring operating charges | 66A | €36,364 | €0 | -€36,364 | -100.0% |
| Gross operating margin | 9900 | €269,353 | €268,928 | -€425 | -0.2% |
| Operating profit (loss) | 9901 | -€136,276 | -€59,254 | +€77,023 | +56.5% |
| Financial income | 75/76B | €1 | €54 | +€53 | +6517.1% |
| Recurring financial income | 75 | €1 | €54 | +€53 | +6517.1% |
| Financial charges | 65/66B | €18,475 | €16,831 | -€1,644 | -8.9% |
| Recurring financial charges | 65 | €18,475 | €16,831 | -€1,644 | -8.9% |
| Profit (loss) for the period before taxes | 9903 | -€154,750 | -€76,030 | +€78,720 | +50.9% |
| Profit (loss) for the period | 9904 | -€154,750 | -€76,030 | +€78,720 | +50.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€154,750 | -€76,030 | +€78,720 | +50.9% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.