IGEMPA: 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.
What changed
IGEMPA
NACE 70.200, Business and other management consultancy
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€173,062
2024 · €159,622+€13,440
Equity
€1.5m
2024 · €1.4m+€78,992
Cash
€226,949
2024 · €149,461+€77,488
Balance sheet total
€1.8m
2024 · €1.8m+€54,755
Largest movements
Assets
- Cash +€77,488
up €77,488 (+51.8%), from €149,461 to €226,949
mainly Net result for the year (+€173,062) and Other debts (+€55,198)
Equity and liabilities
- Reserves +€78,992
up €78,992 (+5.6%), from €1.4m to €1.5m
of which Distributable reserves: +€78,992
- Other debts +€55,198
up €55,198 (+29.8%), from €184,972 to €240,171
- Current portion of long-term debt -€54,461
down €54,461 (-58.6%), from €92,986 to €38,525
- Debts after one year -€38,525
down €38,525 (-79.4%), from €48,547 to €10,022
Income statement
- Gross operating margin +€21,131
up €21,131 (+7.6%), from €279,658 to €300,789
- Taxes +€5,633
up €5,633 (+7.9%), from €71,018 to €76,650
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.
Result 2024
€159,622
Gross operating margin
+€21,131
Staff costs
+€674
Depreciation
-€753
Other operating charges
-€228
Financial income
+€134
Financial charges
-€1,886
Taxes
-€5,633
Result 2025
€173,062
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.
From operations
+€267,628
Investment
-€3,084
Financing
-€187,055
Cash 2024
€149,461
From operations (derived)
+€267,628
Net result for the year
+€173,062
Depreciation
+€18,323
Receivables within one year
+€8,119
Deferred charges and accrued income
-€624
Trade debts
+€2,732
Tax, wage and social debts
-€3,499
Other debts
+€55,198
Accrued charges and deferred income
+€14,317
Investment (derived)
-€3,084
Investment in fixed assets (net)
-€3,084
Financing
-€187,055
Debts after one year
-€38,525
Current portion of long-term debt
-€54,461
Contributions, distributions and other
-€94,070
Cash 2025
€226,949
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,794,046 | €1,848,801 | +€54,755 | +3.1% |
| Fixed assets | 21/28 | €1,588,763 | €1,573,524 | -€15,239 | -1.0% |
| Tangible fixed assets | 22/27 | €85,521 | €70,282 | -€15,239 | -17.8% |
| Land and buildings | 22 | €28,280 | €26,429 | -€1,851 | -6.5% |
| Plant, machinery and equipment | 23 | €2,234 | €1,947 | -€286 | -12.8% |
| Furniture and vehicles | 24 | €36,859 | €23,106 | -€13,753 | -37.3% |
| Other tangible fixed assets | 26 | €18,148 | €18,800 | +€652 | +3.6% |
| Financial fixed assets | 28 | €1,503,242 | €1,503,242 | = | 0.0% |
| Current assets | 29/58 | €205,283 | €275,277 | +€69,994 | +34.1% |
| Amounts receivable within one year | 40/41 | €53,601 | €45,482 | -€8,119 | -15.1% |
| Trade receivables | 40 | €44,211 | €44,559 | +€348 | +0.8% |
| Other amounts receivable | 41 | €9,390 | €923 | -€8,467 | -90.2% |
| Cash at bank and in hand | 54/58 | €149,461 | €226,949 | +€77,488 | +51.8% |
| Deferred charges and accrued income | 490/1 | €2,221 | €2,845 | +€624 | +28.1% |
| Total equity and liabilities | 10/49 | €1,794,046 | €1,848,801 | +€54,755 | +3.1% |
| Equity | 10/15 | €1,413,260 | €1,492,252 | +€78,992 | +5.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,407,060 | €1,486,052 | +€78,992 | +5.6% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,405,200 | €1,484,192 | +€78,992 | +5.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €380,786 | €356,549 | -€24,237 | -6.4% |
| Amounts payable after more than one year | 17 | €48,547 | €10,022 | -€38,525 | -79.4% |
| Financial debts | 170/4 | €48,547 | €10,022 | -€38,525 | -79.4% |
| Amounts payable within one year | 42/48 | €331,893 | €331,864 | -€29 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €92,986 | €38,525 | -€54,461 | -58.6% |
| Trade debts | 44 | €1,236 | €3,968 | +€2,732 | +221.0% |
| Suppliers | 440/4 | €1,236 | €3,968 | +€2,732 | +221.0% |
| Taxes, remuneration and social security | 45 | €52,699 | €49,200 | -€3,499 | -6.6% |
| Taxes | 450/3 | €46,806 | €43,245 | -€3,560 | -7.6% |
| Remuneration and social security | 454/9 | €5,893 | €5,955 | +€62 | +1.1% |
| Other amounts payable | 47/48 | €184,972 | €240,171 | +€55,198 | +29.8% |
| Accrued charges and deferred income | 492/3 | €346 | €14,663 | +€14,317 | +4139.4% |
| Remuneration, social security and pensions | 62 | €14,112 | €13,438 | -€674 | -4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,570 | €18,323 | +€753 | +4.3% |
| Other operating charges | 640/8 | €2,127 | €2,355 | +€228 | +10.7% |
| Gross operating margin | 9900 | €279,658 | €300,789 | +€21,131 | +7.6% |
| Operating profit (loss) | 9901 | €245,849 | €266,673 | +€20,824 | +8.5% |
| Financial income | 75/76B | €779 | €913 | +€134 | +17.2% |
| Recurring financial income | 75 | €779 | €913 | +€134 | +17.2% |
| Financial charges | 65/66B | €15,988 | €17,874 | +€1,886 | +11.8% |
| Recurring financial charges | 65 | €15,988 | €17,874 | +€1,886 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €230,640 | €249,712 | +€19,072 | +8.3% |
| Income taxes | 67/77 | €71,018 | €76,650 | +€5,633 | +7.9% |
| Profit (loss) for the period | 9904 | €159,622 | €173,062 | +€13,440 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €159,622 | €173,062 | +€13,440 | +8.4% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.