CIPPENS: 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.
CIPPENS
Largest movements
- Cash +€40,399
up €40,399 (+56.0%), from €72,154 to €112,554
mainly Net result for the year (+€62,059) and Depreciation (+€35,175)
- Tangible fixed assets -€22,847
down €22,847 (-25.6%), from €89,188 to €66,340
of which Furniture and vehicles: -€17,071
- Intangible fixed assets -€12,328
down €12,328 (-25.1%), from €49,094 to €36,766
- Other debts +€31,202
up €31,202 (+113%), from €27,580 to €58,782
- Debts after one year -€24,440
down €24,440 (-27.5%), from €88,858 to €64,418
- Reserves +€10,000
up €10,000 (+20.0%), from €50,000 to €60,000
- Trade debts -€9,715
down €9,715 (-93.1%), from €10,436 to €720
- Tax, wage and social debts -€6,675
down €6,675 (-70.5%), from €9,466 to €2,791
of which Taxes: -€5,540
- Gross operating margin +€46,956
up €46,956 (+49.4%), from €95,139 to €142,095
- Taxes +€9,272
up €9,272 (+136%), from €6,807 to €16,079
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 | €217,287 | €222,173 | +€4,886 | +2.2% |
| Fixed assets | 21/28 | €139,665 | €104,490 | -€35,175 | -25.2% |
| Intangible fixed assets | 21 | €49,094 | €36,766 | -€12,328 | -25.1% |
| Tangible fixed assets | 22/27 | €89,188 | €66,340 | -€22,847 | -25.6% |
| Plant, machinery and equipment | 23 | €22,493 | €16,716 | -€5,777 | -25.7% |
| Furniture and vehicles | 24 | €66,695 | €49,624 | -€17,071 | -25.6% |
| Financial fixed assets | 28 | €1,384 | €1,384 | = | 0.0% |
| Current assets | 29/58 | €77,622 | €117,683 | +€40,062 | +51.6% |
| Stocks and contracts in progress | 3 | €4,071 | €3,927 | -€144 | -3.5% |
| Stocks | 30/36 | €4,071 | €3,927 | -€144 | -3.5% |
| Amounts receivable within one year | 40/41 | €826 | €1,053 | +€227 | +27.5% |
| Other amounts receivable | 41 | €826 | €1,053 | +€227 | +27.5% |
| Cash at bank and in hand | 54/58 | €72,154 | €112,554 | +€40,399 | +56.0% |
| Deferred charges and accrued income | 490/1 | €570 | €149 | -€421 | -73.9% |
| Total equity and liabilities | 10/49 | €217,287 | €222,173 | +€4,886 | +2.2% |
| Equity | 10/15 | €56,924 | €68,983 | +€12,059 | +21.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €50,000 | €60,000 | +€10,000 | +20.0% |
| Distributable reserves | 133 | €50,000 | €60,000 | +€10,000 | +20.0% |
| Profit (loss) carried forward | 14 | €1,924 | €3,983 | +€2,059 | +107% |
| Amounts payable | 17/49 | €160,363 | €153,191 | -€7,173 | -4.5% |
| Amounts payable after more than one year | 17 | €88,858 | €64,418 | -€24,440 | -27.5% |
| Financial debts | 170/4 | €88,858 | €64,418 | -€24,440 | -27.5% |
| Amounts payable within one year | 42/48 | €71,505 | €86,733 | +€15,228 | +21.3% |
| Current portion of amounts payable after more than one year | 42 | €24,024 | €24,440 | +€416 | +1.7% |
| Trade debts | 44 | €10,436 | €720 | -€9,715 | -93.1% |
| Suppliers | 440/4 | €10,436 | €720 | -€9,715 | -93.1% |
| Taxes, remuneration and social security | 45 | €9,466 | €2,791 | -€6,675 | -70.5% |
| Taxes | 450/3 | €8,155 | €2,615 | -€5,540 | -67.9% |
| Remuneration and social security | 454/9 | €1,311 | €176 | -€1,135 | -86.6% |
| Other amounts payable | 47/48 | €27,580 | €58,782 | +€31,202 | +113% |
| Accrued charges and deferred income | 492/3 | - | €2,040 | +€2,040 | |
| Remuneration, social security and pensions | 62 | €20,231 | €21,151 | +€920 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,175 | €35,175 | = | 0.0% |
| Other operating charges | 640/8 | €1,185 | €1,104 | -€81 | -6.9% |
| Gross operating margin | 9900 | €95,139 | €142,095 | +€46,956 | +49.4% |
| Operating profit (loss) | 9901 | €38,547 | €84,665 | +€46,117 | +120% |
| Financial income | 75/76B | €328 | €439 | +€112 | +34.0% |
| Recurring financial income | 75 | €328 | €439 | +€112 | +34.0% |
| Financial charges | 65/66B | €6,664 | €6,966 | +€303 | +4.5% |
| Recurring financial charges | 65 | €6,664 | €6,966 | +€303 | +4.5% |
| Profit (loss) for the period before taxes | 9903 | €32,212 | €78,138 | +€45,926 | +143% |
| Income taxes | 67/77 | €6,807 | €16,079 | +€9,272 | +136% |
| Profit (loss) for the period | 9904 | €25,405 | €62,059 | +€36,654 | +144% |
| Profit (loss) for the period to be appropriated | 9905 | €25,405 | €62,059 | +€36,654 | +144% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.