IRPACHOC: 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.
IRPACHOC
Largest movements
- Cash +€192,347
up €192,347 (+87.4%), from €220,021 to €412,369
mainly Net result for the year (+€259,721) and Trade debts (+€66,400)
- Stocks and contracts +€73,626
up €73,626 (+12.5%), from €588,743 to €662,369
- Tangible fixed assets -€28,141
down €28,141 (-19.4%), from €145,305 to €117,164
of which Plant, machinery and equipment: -€27,875
- Reserves +€259,721
up €259,721 (+48.2%), from €538,564 to €798,285
- Short-term financial debts -€80,000
down €80,000 (-21.1%), from €380,000 to €300,000
- Trade debts +€66,400
up €66,400 (+20.2%), from €328,230 to €394,631
- Gross operating margin +€55,462
up €55,462 (+9.4%), from €589,483 to €644,945
- Taxes +€24,714
up €24,714 (+26.1%), from €94,801 to €119,515
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.
Derived cash bridge
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 | €1,637,433 | €1,883,127 | +€245,694 | +15.0% |
| Fixed assets | 21/28 | €145,305 | €117,164 | -€28,141 | -19.4% |
| Tangible fixed assets | 22/27 | €145,305 | €117,164 | -€28,141 | -19.4% |
| Plant, machinery and equipment | 23 | €144,121 | €116,246 | -€27,875 | -19.3% |
| Furniture and vehicles | 24 | €1,184 | €918 | -€266 | -22.5% |
| Current assets | 29/58 | €1,492,128 | €1,765,963 | +€273,835 | +18.4% |
| Stocks and contracts in progress | 3 | €588,743 | €662,369 | +€73,626 | +12.5% |
| Stocks | 30/36 | €588,743 | €662,369 | +€73,626 | +12.5% |
| Amounts receivable within one year | 40/41 | €666,095 | €674,126 | +€8,032 | +1.2% |
| Trade receivables | 40 | €638,361 | €639,906 | +€1,545 | +0.2% |
| Other amounts receivable | 41 | €27,733 | €34,220 | +€6,487 | +23.4% |
| Cash at bank and in hand | 54/58 | €220,021 | €412,369 | +€192,347 | +87.4% |
| Deferred charges and accrued income | 490/1 | €17,270 | €17,099 | -€170 | -1.0% |
| Total equity and liabilities | 10/49 | €1,637,433 | €1,883,127 | +€245,694 | +15.0% |
| Equity | 10/15 | €820,756 | €1,080,477 | +€259,721 | +31.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €538,564 | €798,285 | +€259,721 | +48.2% |
| Distributable reserves | 133 | €538,564 | €798,285 | +€259,721 | +48.2% |
| Profit (loss) carried forward | 14 | €263,600 | €263,600 | = | 0.0% |
| Amounts payable | 17/49 | €816,677 | €802,650 | -€14,027 | -1.7% |
| Amounts payable within one year | 42/48 | €798,369 | €785,826 | -€12,543 | -1.6% |
| Financial debts | 43 | €380,000 | €300,000 | -€80,000 | -21.1% |
| Other loans | 439 | €380,000 | €300,000 | -€80,000 | -21.1% |
| Trade debts | 44 | €328,230 | €394,631 | +€66,400 | +20.2% |
| Suppliers | 440/4 | €328,230 | €394,631 | +€66,400 | +20.2% |
| Taxes, remuneration and social security | 45 | €89,735 | €90,792 | +€1,056 | +1.2% |
| Taxes | 450/3 | €49,534 | €52,845 | +€3,311 | +6.7% |
| Remuneration and social security | 454/9 | €40,201 | €37,947 | -€2,254 | -5.6% |
| Other amounts payable | 47/48 | €404 | €404 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €18,308 | €16,824 | -€1,484 | -8.1% |
| Non-recurring operating income | 76A | - | €0 | = | |
| Remuneration, social security and pensions | 62 | €211,549 | €205,797 | -€5,752 | -2.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,208 | €43,521 | +€313 | +0.7% |
| Other operating charges | 640/8 | €5,689 | €5,912 | +€224 | +3.9% |
| Gross operating margin | 9900 | €589,483 | €644,945 | +€55,462 | +9.4% |
| Operating profit (loss) | 9901 | €329,038 | €389,715 | +€60,677 | +18.4% |
| Financial income | 75/76B | €9,238 | €14,233 | +€4,995 | +54.1% |
| Recurring financial income | 75 | €9,238 | €14,233 | +€4,995 | +54.1% |
| Financial charges | 65/66B | €27,410 | €24,713 | -€2,697 | -9.8% |
| Recurring financial charges | 65 | €27,410 | €24,713 | -€2,697 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €310,866 | €379,236 | +€68,370 | +22.0% |
| Income taxes | 67/77 | €94,801 | €119,515 | +€24,714 | +26.1% |
| Profit (loss) for the period | 9904 | €216,065 | €259,721 | +€43,656 | +20.2% |
| Profit (loss) for the period to be appropriated | 9905 | €216,065 | €259,721 | +€43,656 | +20.2% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 20 October 2026 via checked.be.