PRINS - IPE: 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.
PRINS - IPE
Largest movements
- Current investments +€84,843
up €84,843 (+16.2%), from €522,280 to €607,123
- Receivables after one year +€69,346
new in 2025: €69,346
- Cash -€47,574
down €47,574 (-15.0%), from €317,637 to €270,063
mainly Current investments (-€84,843) and Receivables after one year (-€69,346)
- Receivables within one year +€19,936
up €19,936 (+29317.3%), from €68 to €20,004
of which Other amounts receivable: +€20,004
- Tangible fixed assets -€15,705
down €15,705 (-9.1%), from €172,526 to €156,821
of which Land and buildings: -€10,176
- Reserves +€165,623
up €165,623 (+19.1%), from €866,056 to €1.0m
of which Distributable reserves: +€165,623
- Current portion of long-term debt +€25,235
up €25,235 (+116.9%), from €21,585 to €46,820
- Debts after one year -€21,585
down €21,585 (-47.4%), from €45,535 to €23,949
- Trade debts -€20,184
down €20,184 (-87.2%), from €23,157 to €2,973
- Other debts -€17,285
down €17,285 (-91.2%), from €18,951 to €1,666
- Gross operating margin -€49,056
down €49,056 (-15.0%), from €327,914 to €278,858
- Taxes -€12,944
down €12,944 (-13.9%), from €93,264 to €80,320
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 | €1,017,600 | €1,128,412 | +€110,812 | +10.9% |
| Fixed assets | 21/28 | €172,571 | €156,866 | -€15,705 | -9.1% |
| Tangible fixed assets | 22/27 | €172,526 | €156,821 | -€15,705 | -9.1% |
| Land and buildings | 22 | €53,105 | €42,929 | -€10,176 | -19.2% |
| Plant, machinery and equipment | 23 | €85,030 | €84,032 | -€998 | -1.2% |
| Furniture and vehicles | 24 | €34,391 | €29,860 | -€4,532 | -13.2% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €845,029 | €971,546 | +€126,517 | +15.0% |
| Amounts receivable after more than one year | 29 | - | €69,346 | +€69,346 | |
| Other amounts receivable | 291 | - | €69,346 | +€69,346 | |
| Amounts receivable within one year | 40/41 | €68 | €20,004 | +€19,936 | +29317.3% |
| Trade receivables | 40 | €68 | €0 | -€68 | -100.0% |
| Other amounts receivable | 41 | €0 | €20,004 | +€20,004 | |
| Current investments | 50/53 | €522,280 | €607,123 | +€84,843 | +16.2% |
| Cash at bank and in hand | 54/58 | €317,637 | €270,063 | -€47,574 | -15.0% |
| Deferred charges and accrued income | 490/1 | €5,044 | €5,011 | -€34 | -0.7% |
| Total equity and liabilities | 10/49 | €1,017,600 | €1,128,412 | +€110,812 | +10.9% |
| Equity | 10/15 | €881,829 | €1,047,451 | +€165,623 | +18.8% |
| Contributions | 10/11 | €15,773 | €15,773 | = | 0.0% |
| Reserves | 13 | €866,056 | €1,031,679 | +€165,623 | +19.1% |
| Tax-exempt reserves | 132 | €3,902 | €3,902 | = | 0.0% |
| Distributable reserves | 133 | €862,154 | €1,027,776 | +€165,623 | +19.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €156 | €156 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €156 | €156 | = | 0.0% |
| Other liabilities and charges | 164/5 | €156 | €156 | = | 0.0% |
| Amounts payable | 17/49 | €135,616 | €80,805 | -€54,811 | -40.4% |
| Amounts payable after more than one year | 17 | €45,535 | €23,949 | -€21,585 | -47.4% |
| Financial debts | 170/4 | €45,535 | €23,949 | -€21,585 | -47.4% |
| Amounts payable within one year | 42/48 | €77,080 | €55,815 | -€21,265 | -27.6% |
| Current portion of amounts payable after more than one year | 42 | €21,585 | €46,820 | +€25,235 | +116.9% |
| Trade debts | 44 | €23,157 | €2,973 | -€20,184 | -87.2% |
| Suppliers | 440/4 | €23,157 | €2,973 | -€20,184 | -87.2% |
| Taxes, remuneration and social security | 45 | €13,386 | €4,356 | -€9,031 | -67.5% |
| Taxes | 450/3 | €13,386 | €4,356 | -€9,031 | -67.5% |
| Other amounts payable | 47/48 | €18,951 | €1,666 | -€17,285 | -91.2% |
| Accrued charges and deferred income | 492/3 | €13,001 | €1,041 | -€11,961 | -92.0% |
| Non-recurring operating income | 76A | €2,000 | €0 | -€2,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,711 | €37,049 | -€662 | -1.8% |
| Other operating charges | 640/8 | €5,909 | €3,866 | -€2,042 | -34.6% |
| Gross operating margin | 9900 | €327,914 | €278,858 | -€49,056 | -15.0% |
| Operating profit (loss) | 9901 | €284,294 | €237,943 | -€46,351 | -16.3% |
| Financial income | 75/76B | €8,124 | €9,887 | +€1,763 | +21.7% |
| Recurring financial income | 75 | €8,124 | €9,887 | +€1,763 | +21.7% |
| Financial charges | 65/66B | €1,653 | €222 | -€1,431 | -86.6% |
| Recurring financial charges | 65 | €1,653 | -€1,878 | -€3,531 | |
| Non-recurring financial charges | 66B | - | €2,100 | +€2,100 | |
| Profit (loss) for the period before taxes | 9903 | €290,764 | €247,608 | -€43,156 | -14.8% |
| Income taxes | 67/77 | €93,264 | €80,320 | -€12,944 | -13.9% |
| Profit (loss) for the period | 9904 | €197,501 | €167,289 | -€30,212 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €197,501 | €167,289 | -€30,212 | -15.3% |
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 3 October 2026 via checked.be.