IPVL: 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.
IPVL
Largest movements
- Cash +€106,221
up €106,221 (+473.0%), from €22,459 to €128,679
mainly Net result for the year (+€48,956) and Advances received (+€30,145)
- Receivables within one year -€23,735
down €23,735 (-15.4%), from €153,962 to €130,228
of which Trade receivables: -€22,172
- Tangible fixed assets -€6,982
down €6,982 (-18.0%), from €38,773 to €31,792
of which Leasing and similar rights: -€11,345
- Intangible fixed assets -€4,092
down €4,092 (-21.2%), from €19,344 to €15,252
- Profit (loss) carried forward +€48,956
up €48,956 (+95.4%), from -€51,302 to -€2,346
- Advances received +€30,145
up €30,145 (+78.3%), from €38,493 to €68,638
- Tax, wage and social debts +€18,259
up €18,259 (+1417.3%), from €1,288 to €19,548
of which Taxes: +€12,265
- Trade debts -€14,024
down €14,024 (-7.2%), from €193,775 to €179,751
- Debts after one year -€10,949
down €10,949 (-36.7%), from €29,839 to €18,889
- Gross operating margin +€123,586
up €123,586 (+1157.9%), from €10,674 to €134,259
- Staff costs +€57,230
up €57,230 (+1474.9%), from €3,880 to €61,110
- Write-downs -€20,022
down €20,022, from €10,011 to -€10,011
- Other operating charges +€11,309
up €11,309 (+3906.4%), from €290 to €11,599
- Taxes +€4,857
up €4,857 (+2814.2%), from €173 to €5,029
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €244,236 | €316,929 | +€72,693 | +29.8% |
| Fixed assets | 21/28 | €60,217 | €49,143 | -€11,074 | -18.4% |
| Intangible fixed assets | 21 | €19,344 | €15,252 | -€4,092 | -21.2% |
| Tangible fixed assets | 22/27 | €38,773 | €31,792 | -€6,982 | -18.0% |
| Furniture and vehicles | 24 | €385 | €2,179 | +€1,793 | +465.7% |
| Leasing and similar rights | 25 | €38,388 | €27,043 | -€11,345 | -29.6% |
| Other tangible fixed assets | 26 | - | €2,570 | +€2,570 | |
| Financial fixed assets | 28 | €2,100 | €2,100 | = | 0.0% |
| Current assets | 29/58 | €184,019 | €267,786 | +€83,766 | +45.5% |
| Amounts receivable within one year | 40/41 | €153,962 | €130,228 | -€23,735 | -15.4% |
| Trade receivables | 40 | €142,938 | €120,766 | -€22,172 | -15.5% |
| Other amounts receivable | 41 | €11,024 | €9,461 | -€1,563 | -14.2% |
| Cash at bank and in hand | 54/58 | €22,459 | €128,679 | +€106,221 | +473.0% |
| Deferred charges and accrued income | 490/1 | €7,598 | €8,878 | +€1,280 | +16.9% |
| Total equity and liabilities | 10/49 | €244,236 | €316,929 | +€72,693 | +29.8% |
| Equity | 10/15 | -€31,302 | €17,654 | +€48,956 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,302 | -€2,346 | +€48,956 | +95.4% |
| Amounts payable | 17/49 | €275,538 | €299,275 | +€23,737 | +8.6% |
| Amounts payable after more than one year | 17 | €29,839 | €18,889 | -€10,949 | -36.7% |
| Financial debts | 170/4 | €29,839 | €18,889 | -€10,949 | -36.7% |
| Amounts payable within one year | 42/48 | €244,199 | €278,886 | +€34,686 | +14.2% |
| Current portion of amounts payable after more than one year | 42 | €10,643 | €10,949 | +€307 | +2.9% |
| Trade debts | 44 | €193,775 | €179,751 | -€14,024 | -7.2% |
| Suppliers | 440/4 | €193,775 | €179,751 | -€14,024 | -7.2% |
| Advances received on contracts in progress | 46 | €38,493 | €68,638 | +€30,145 | +78.3% |
| Taxes, remuneration and social security | 45 | €1,288 | €19,548 | +€18,259 | +1417.3% |
| Taxes | 450/3 | €173 | €12,438 | +€12,265 | +7107.0% |
| Remuneration and social security | 454/9 | €1,116 | €7,110 | +€5,994 | +537.2% |
| Accrued charges and deferred income | 492/3 | €1,500 | €1,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €3,880 | €61,110 | +€57,230 | +1474.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,742 | €16,164 | +€3,422 | +26.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,011 | -€10,011 | -€20,022 | |
| Other operating charges | 640/8 | €290 | €11,599 | +€11,309 | +3906.4% |
| Gross operating margin | 9900 | €10,674 | €134,259 | +€123,586 | +1157.9% |
| Operating profit (loss) | 9901 | -€16,249 | €55,397 | +€71,646 | |
| Financial income | 75/76B | €101 | €126 | +€25 | +24.5% |
| Recurring financial income | 75 | €101 | €126 | +€25 | +24.5% |
| Financial charges | 65/66B | €1,719 | €1,539 | -€180 | -10.5% |
| Recurring financial charges | 65 | €1,719 | €1,539 | -€180 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | -€17,866 | €53,985 | +€71,851 | |
| Income taxes | 67/77 | €173 | €5,029 | +€4,857 | +2814.2% |
| Profit (loss) for the period | 9904 | -€18,039 | €48,956 | +€66,994 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,039 | €48,956 | +€66,994 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.