IMPALA: 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.
IMPALA
Largest movements
- Current investments -€249,878
down €249,878 (-79.6%), from €313,786 to €63,908
- Cash +€194,497
up €194,497 (+249.8%), from €77,847 to €272,344
mainly Current investments (+€249,878) and Other debts (+€140,709)
- Receivables within one year +€53,176
up €53,176 (+11.6%), from €459,633 to €512,809
of which Other amounts receivable: +€49,531
- Financial fixed assets +€33,684
up €33,684 (+7.6%), from €445,500 to €479,184
- Other debts +€140,709
up €140,709 (+139.4%), from €100,964 to €241,672
- Reserves -€133,550
down €133,550 (-11.5%), from €1.2m to €1.0m
- Debts after one year +€40,444
new in 2025: €40,444
- Advances received -€24,000
down €24,000 (-40.0%), from €60,000 to €36,000
- Gross operating margin +€22,423
up €22,423 (+15.7%), from €142,589 to €165,012
- Financial income -€5,232
down €5,232 (-42.9%), from €12,187 to €6,955
- Taxes +€3,277
up €3,277 (+6.7%), from €48,729 to €52,006
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 | €1,387,238 | €1,414,961 | +€27,723 | +2.0% |
| Fixed assets | 21/28 | €494,678 | €522,655 | +€27,977 | +5.7% |
| Tangible fixed assets | 22/27 | €49,178 | €43,471 | -€5,707 | -11.6% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €19,647 | €17,135 | -€2,512 | -12.8% |
| Other tangible fixed assets | 26 | €29,532 | €26,336 | -€3,195 | -10.8% |
| Financial fixed assets | 28 | €445,500 | €479,184 | +€33,684 | +7.6% |
| Current assets | 29/58 | €892,560 | €892,306 | -€254 | 0.0% |
| Amounts receivable after more than one year | 29 | €37,000 | €37,000 | = | 0.0% |
| Trade receivables | 290 | €37,000 | €37,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €459,633 | €512,809 | +€53,176 | +11.6% |
| Trade receivables | 40 | €17,242 | €20,887 | +€3,645 | +21.1% |
| Other amounts receivable | 41 | €442,391 | €491,922 | +€49,531 | +11.2% |
| Current investments | 50/53 | €313,786 | €63,908 | -€249,878 | -79.6% |
| Cash at bank and in hand | 54/58 | €77,847 | €272,344 | +€194,497 | +249.8% |
| Deferred charges and accrued income | 490/1 | €4,294 | €6,245 | +€1,951 | +45.4% |
| Total equity and liabilities | 10/49 | €1,387,238 | €1,414,961 | +€27,723 | +2.0% |
| Equity | 10/15 | €1,177,217 | €1,043,667 | -€133,550 | -11.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €1,157,217 | €1,023,667 | -€133,550 | -11.5% |
| Distributable reserves | 133 | €1,157,217 | €1,023,667 | -€133,550 | -11.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €210,021 | €371,294 | +€161,273 | +76.8% |
| Amounts payable after more than one year | 17 | - | €40,444 | +€40,444 | |
| Financial debts | 170/4 | - | €40,444 | +€40,444 | |
| Amounts payable within one year | 42/48 | €210,021 | €330,850 | +€120,829 | +57.5% |
| Financial debts | 43 | €5,792 | €5,809 | +€17 | +0.3% |
| Credit institutions | 430/8 | €5,792 | €5,809 | +€17 | +0.3% |
| Trade debts | 44 | €4,032 | €9,068 | +€5,036 | +124.9% |
| Suppliers | 440/4 | €4,032 | €9,068 | +€5,036 | +124.9% |
| Advances received on contracts in progress | 46 | €60,000 | €36,000 | -€24,000 | -40.0% |
| Taxes, remuneration and social security | 45 | €39,233 | €38,300 | -€933 | -2.4% |
| Taxes | 450/3 | €39,233 | €38,300 | -€933 | -2.4% |
| Other amounts payable | 47/48 | €100,964 | €241,672 | +€140,709 | +139.4% |
| Non-recurring operating income | 76A | - | €5,000 | +€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,115 | €5,707 | +€592 | +11.6% |
| Other operating charges | 640/8 | €1,842 | €1,745 | -€97 | -5.3% |
| Non-recurring operating charges | 66A | - | €20,000 | +€20,000 | |
| Gross operating margin | 9900 | €142,589 | €165,012 | +€22,423 | +15.7% |
| Operating profit (loss) | 9901 | €135,632 | €137,560 | +€1,928 | +1.4% |
| Financial income | 75/76B | €12,187 | €6,955 | -€5,232 | -42.9% |
| Recurring financial income | 75 | €12,187 | €6,955 | -€5,232 | -42.9% |
| Financial charges | 65/66B | €668 | €1,060 | +€391 | +58.5% |
| Recurring financial charges | 65 | €668 | €1,060 | +€391 | +58.5% |
| Profit (loss) for the period before taxes | 9903 | €147,151 | €143,456 | -€3,695 | -2.5% |
| Income taxes | 67/77 | €48,729 | €52,006 | +€3,277 | +6.7% |
| Profit (loss) for the period | 9904 | €98,421 | €91,450 | -€6,972 | -7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €98,421 | €91,450 | -€6,972 | -7.1% |
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 4 October 2026 via checked.be.