IMPAGO: 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.
IMPAGO
Largest movements
- Cash +€231,714
up €231,714 (+617.3%), from €37,535 to €269,249
mainly Net result for the year (+€263,649) and Other debts (+€126,000)
- Receivables within one year -€98,227
down €98,227 (-76.6%), from €128,202 to €29,975
of which Other amounts receivable: -€99,868
- Other debts +€126,000
up €126,000 (+94.0%), from €134,000 to €260,000
- Trade debts -€13,551
down €13,551 (-67.6%), from €20,037 to €6,486
- Tax, wage and social debts +€12,337
up €12,337 (+224.4%), from €5,498 to €17,835
- Gross operating margin +€99,692
up €99,692 (+41.2%), from €241,811 to €341,503
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 | €465,262 | €593,697 | +€128,435 | +27.6% |
| Fixed assets | 21/28 | €295,212 | €292,746 | -€2,467 | -0.8% |
| Tangible fixed assets | 22/27 | €295,212 | €292,746 | -€2,467 | -0.8% |
| Land and buildings | 22 | €295,212 | €292,746 | -€2,467 | -0.8% |
| Current assets | 29/58 | €170,050 | €300,951 | +€130,901 | +77.0% |
| Amounts receivable within one year | 40/41 | €128,202 | €29,975 | -€98,227 | -76.6% |
| Trade receivables | 40 | €26,217 | €27,858 | +€1,641 | +6.3% |
| Other amounts receivable | 41 | €101,985 | €2,117 | -€99,868 | -97.9% |
| Cash at bank and in hand | 54/58 | €37,535 | €269,249 | +€231,714 | +617.3% |
| Deferred charges and accrued income | 490/1 | €4,313 | €1,727 | -€2,586 | -60.0% |
| Total equity and liabilities | 10/49 | €465,262 | €593,697 | +€128,435 | +27.6% |
| Equity | 10/15 | €305,727 | €309,376 | +€3,649 | +1.2% |
| Contributions | 10/11 | €114,513 | €114,513 | = | 0.0% |
| Reserves | 13 | €191,214 | €194,863 | +€3,649 | +1.9% |
| Distributable reserves | 133 | €191,214 | €194,863 | +€3,649 | +1.9% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €159,535 | €284,321 | +€124,786 | +78.2% |
| Amounts payable within one year | 42/48 | €159,535 | €284,321 | +€124,786 | +78.2% |
| Trade debts | 44 | €20,037 | €6,486 | -€13,551 | -67.6% |
| Suppliers | 440/4 | €20,037 | €6,486 | -€13,551 | -67.6% |
| Taxes, remuneration and social security | 45 | €5,498 | €17,835 | +€12,337 | +224.4% |
| Taxes | 450/3 | €5,498 | €17,835 | +€12,337 | +224.4% |
| Other amounts payable | 47/48 | €134,000 | €260,000 | +€126,000 | +94.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,977 | €2,467 | -€511 | -17.1% |
| Other operating charges | 640/8 | €26,304 | €27,957 | +€1,653 | +6.3% |
| Gross operating margin | 9900 | €241,811 | €341,503 | +€99,692 | +41.2% |
| Operating profit (loss) | 9901 | €212,530 | €311,079 | +€98,549 | +46.4% |
| Financial income | 75/76B | €4,313 | €1,056 | -€3,256 | -75.5% |
| Recurring financial income | 75 | €4,313 | €1,056 | -€3,256 | -75.5% |
| Financial charges | 65/66B | €561 | €604 | +€42 | +7.6% |
| Recurring financial charges | 65 | €561 | €604 | +€42 | +7.6% |
| Profit (loss) for the period before taxes | 9903 | €216,281 | €311,532 | +€95,251 | +44.0% |
| Income taxes | 67/77 | €46,915 | €47,883 | +€968 | +2.1% |
| Profit (loss) for the period | 9904 | €169,366 | €263,649 | +€94,282 | +55.7% |
| Profit (loss) for the period to be appropriated | 9905 | €169,366 | €263,649 | +€94,282 | +55.7% |
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 28 September 2026 via checked.be.