IPXIP: 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.
IPXIP
Largest movements
- Receivables within one year +€9,746
up €9,746 (+11.9%), from €82,201 to €91,947
of which Trade receivables: +€9,738
- Tangible fixed assets -€5,728
down €5,728 (-30.7%), from €18,675 to €12,948
- Deferred charges and accrued income -€3,848
down €3,848 (-58.5%), from €6,578 to €2,730
- Cash +€2,187
up €2,187 (+1590.7%), from €137 to €2,324
mainly Other debts (+€7,491) and Depreciation (+€6,718)
- Other debts +€7,491
up €7,491 (+94.1%), from €7,965 to €15,457
- Profit (loss) carried forward -€6,064
down €6,064 (-83.0%), from €7,310 to €1,246
- Tax, wage and social debts +€5,840
up €5,840 (+24.0%), from €24,360 to €30,201
of which Remuneration and social security: +€4,907
- Reserves +€5,018
up €5,018 (+100.7%), from €4,982 to €10,000
- Debts after one year -€4,346
down €4,346 (-48.8%), from €8,903 to €4,557
- Gross operating margin +€8,574
up €8,574 (+11.8%), from €72,622 to €81,196
- Staff costs +€8,536
up €8,536 (+13.4%), from €63,534 to €72,070
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 | €189,591 | €191,948 | +€2,358 | +1.2% |
| Fixed assets | 21/28 | €18,675 | €12,948 | -€5,728 | -30.7% |
| Tangible fixed assets | 22/27 | €18,675 | €12,948 | -€5,728 | -30.7% |
| Furniture and vehicles | 24 | €18,675 | €12,948 | -€5,728 | -30.7% |
| Current assets | 29/58 | €170,916 | €179,001 | +€8,085 | +4.7% |
| Amounts receivable after more than one year | 29 | €82,000 | €82,000 | = | 0.0% |
| Other amounts receivable | 291 | €82,000 | €82,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €82,201 | €91,947 | +€9,746 | +11.9% |
| Trade receivables | 40 | €82,029 | €91,767 | +€9,738 | +11.9% |
| Other amounts receivable | 41 | €171 | €179 | +€8 | +4.7% |
| Cash at bank and in hand | 54/58 | €137 | €2,324 | +€2,187 | +1590.7% |
| Deferred charges and accrued income | 490/1 | €6,578 | €2,730 | -€3,848 | -58.5% |
| Total equity and liabilities | 10/49 | €189,591 | €191,948 | +€2,358 | +1.2% |
| Equity | 10/15 | €62,292 | €61,246 | -€1,046 | -1.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €4,982 | €10,000 | +€5,018 | +100.7% |
| Distributable reserves | 133 | €4,982 | €10,000 | +€5,018 | +100.7% |
| Profit (loss) carried forward | 14 | €7,310 | €1,246 | -€6,064 | -83.0% |
| Amounts payable | 17/49 | €127,299 | €130,703 | +€3,404 | +2.7% |
| Amounts payable after more than one year | 17 | €8,903 | €4,557 | -€4,346 | -48.8% |
| Financial debts | 170/4 | €8,903 | €4,557 | -€4,346 | -48.8% |
| Amounts payable within one year | 42/48 | €107,566 | €118,340 | +€10,775 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €4,145 | €4,346 | +€201 | +4.8% |
| Trade debts | 44 | €71,095 | €68,337 | -€2,758 | -3.9% |
| Suppliers | 440/4 | €71,095 | €68,337 | -€2,758 | -3.9% |
| Taxes, remuneration and social security | 45 | €24,360 | €30,201 | +€5,840 | +24.0% |
| Taxes | 450/3 | €8,924 | €9,858 | +€933 | +10.5% |
| Remuneration and social security | 454/9 | €15,436 | €20,343 | +€4,907 | +31.8% |
| Other amounts payable | 47/48 | €7,965 | €15,457 | +€7,491 | +94.1% |
| Accrued charges and deferred income | 492/3 | €10,830 | €7,805 | -€3,025 | -27.9% |
| Remuneration, social security and pensions | 62 | €63,534 | €72,070 | +€8,536 | +13.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,860 | €6,718 | -€142 | -2.1% |
| Other operating charges | 640/8 | €1,011 | €719 | -€292 | -28.9% |
| Gross operating margin | 9900 | €72,622 | €81,196 | +€8,574 | +11.8% |
| Operating profit (loss) | 9901 | €1,216 | €1,688 | +€472 | +38.8% |
| Financial income | 75/76B | €3,171 | €2,460 | -€711 | -22.4% |
| Recurring financial income | 75 | €3,171 | €2,460 | -€711 | -22.4% |
| Financial charges | 65/66B | €1,282 | €949 | -€333 | -26.0% |
| Recurring financial charges | 65 | €1,282 | €949 | -€333 | -26.0% |
| Profit (loss) for the period before taxes | 9903 | €3,105 | €3,199 | +€94 | +3.0% |
| Income taxes | 67/77 | €3,043 | €3,146 | +€103 | +3.4% |
| Profit (loss) for the period | 9904 | €63 | €54 | -€9 | -14.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63 | €54 | -€9 | -14.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.