IMPA: 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.
IMPA
Largest movements
- Cash -€647,227
down €647,227 (-74.2%), from €872,166 to €224,939
mainly Contributions, distributions and other (-€831,110) and Current investments (-€500,000)
- Current investments +€500,000
up €500,000 (+125.0%), from €400,000 to €900,000
- Receivables after one year -€355,439
down €355,439 (-96.2%), from €369,514 to €14,074
- Receivables within one year -€100,703
down €100,703 (-47.3%), from €212,776 to €112,074
of which Trade receivables: -€116,488
- Reserves -€581,255
down €581,255 (-24.3%), from €2.4m to €1.8m
- Trade debts -€39,459
down €39,459 (-66.2%), from €59,566 to €20,107
- Gross operating margin -€66,010
down €66,010 (-13.3%), from €495,684 to €429,674
- Taxes -€56,538
down €56,538 (-32.0%), from €176,521 to €119,983
- Other operating charges -€43,579
down €43,579 (-90.4%), from €48,232 to €4,653
- Financial income -€24,216
down €24,216 (-55.4%), from €43,724 to €19,507
- Financial charges -€11,071
down €11,071 (-91.7%), from €12,068 to €996
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 | €2,648,190 | €2,018,129 | -€630,061 | -23.8% |
| Fixed assets | 21/28 | €789,796 | €763,421 | -€26,375 | -3.3% |
| Tangible fixed assets | 22/27 | €789,796 | €763,421 | -€26,375 | -3.3% |
| Land and buildings | 22 | €659,269 | €669,992 | +€10,723 | +1.6% |
| Plant, machinery and equipment | 23 | €7,092 | €6,096 | -€996 | -14.0% |
| Furniture and vehicles | 24 | €123,435 | €87,334 | -€36,101 | -29.2% |
| Current assets | 29/58 | €1,858,394 | €1,254,708 | -€603,686 | -32.5% |
| Amounts receivable after more than one year | 29 | €369,514 | €14,074 | -€355,439 | -96.2% |
| Other amounts receivable | 291 | €369,514 | €14,074 | -€355,439 | -96.2% |
| Amounts receivable within one year | 40/41 | €212,776 | €112,074 | -€100,703 | -47.3% |
| Trade receivables | 40 | €132,528 | €16,040 | -€116,488 | -87.9% |
| Other amounts receivable | 41 | €80,248 | €96,034 | +€15,786 | +19.7% |
| Current investments | 50/53 | €400,000 | €900,000 | +€500,000 | +125.0% |
| Cash at bank and in hand | 54/58 | €872,166 | €224,939 | -€647,227 | -74.2% |
| Deferred charges and accrued income | 490/1 | €3,937 | €3,621 | -€316 | -8.0% |
| Total equity and liabilities | 10/49 | €2,648,190 | €2,018,129 | -€630,061 | -23.8% |
| Equity | 10/15 | €2,532,848 | €1,951,593 | -€581,255 | -22.9% |
| Contributions | 10/11 | €141,636 | €141,636 | = | 0.0% |
| Reserves | 13 | €2,391,213 | €1,809,958 | -€581,255 | -24.3% |
| Distributable reserves | 133 | €2,391,213 | €1,809,958 | -€581,255 | -24.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €115,341 | €66,536 | -€48,805 | -42.3% |
| Amounts payable within one year | 42/48 | €115,321 | €66,497 | -€48,824 | -42.3% |
| Trade debts | 44 | €59,566 | €20,107 | -€39,459 | -66.2% |
| Suppliers | 440/4 | €59,566 | €20,107 | -€39,459 | -66.2% |
| Taxes, remuneration and social security | 45 | €55,755 | €46,390 | -€9,365 | -16.8% |
| Taxes | 450/3 | €55,755 | €46,390 | -€9,365 | -16.8% |
| Accrued charges and deferred income | 492/3 | €20 | €39 | +€19 | +91.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,568 | €73,695 | -€7,873 | -9.7% |
| Other operating charges | 640/8 | €48,232 | €4,653 | -€43,579 | -90.4% |
| Non-recurring operating charges | 66A | €5,889 | €0 | -€5,889 | -100.0% |
| Gross operating margin | 9900 | €495,684 | €429,674 | -€66,010 | -13.3% |
| Operating profit (loss) | 9901 | €359,996 | €351,326 | -€8,670 | -2.4% |
| Financial income | 75/76B | €43,724 | €19,507 | -€24,216 | -55.4% |
| Recurring financial income | 75 | €43,724 | €19,507 | -€24,216 | -55.4% |
| Financial charges | 65/66B | €12,068 | €996 | -€11,071 | -91.7% |
| Recurring financial charges | 65 | €12,068 | €996 | -€11,071 | -91.7% |
| Profit (loss) for the period before taxes | 9903 | €391,652 | €369,837 | -€21,814 | -5.6% |
| Income taxes | 67/77 | €176,521 | €119,983 | -€56,538 | -32.0% |
| Profit (loss) for the period | 9904 | €215,131 | €249,854 | +€34,724 | +16.1% |
| Profit (loss) for the period to be appropriated | 9905 | €215,131 | €249,854 | +€34,724 | +16.1% |
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.