IMPAVIDUS HOLDING: 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.
IMPAVIDUS HOLDING
Largest movements
- Cash +€1.5m
up €1.5m (+82,579%), from €1,793 to €1.5m
mainly Net result for the year (+€2.6m) and Depreciation (+€2,838)
- Receivables within one year +€1.1m
up €1.1m (+33,871%), from €3,303 to €1.1m
of which Other amounts receivable: +€1.1m
- Tangible fixed assets +€31,126
new in 2025: €31,126
- Profit (loss) carried forward +€2.6m
up €2.6m, from -€7,639 to €2.6m
- Financial income +€2.5m
up €2.5m (+2,388%), from €105,000 to €2.6m
of which Non-recurring financial income: +€2.6m
- Gross operating margin +€6,855
up €6,855 (+43.3%), from €15,838 to €22,693
- Taxes +€6,436
up €6,436 (+736%), from €875 to €7,311
- Depreciation +€2,838
new in 2025: €2,838
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 | €12,585 | €2,636,367 | +€2.6m | +20,848% |
| Fixed assets | 21/28 | €7,489 | €31,126 | +€23,636 | +316% |
| Tangible fixed assets | 22/27 | - | €31,126 | +€31,126 | |
| Furniture and vehicles | 24 | - | €31,126 | +€31,126 | |
| Financial fixed assets | 28 | €7,489 | €0 | -€7,489 | -100% |
| Current assets | 29/58 | €5,096 | €2,605,242 | +€2.6m | +51,025% |
| Amounts receivable within one year | 40/41 | €3,303 | €1,122,121 | +€1.1m | +33,871% |
| Trade receivables | 40 | - | €13,942 | +€13,942 | |
| Other amounts receivable | 41 | €3,303 | €1,108,179 | +€1.1m | +33,449% |
| Cash at bank and in hand | 54/58 | €1,793 | €1,482,137 | +€1.5m | +82,579% |
| Deferred charges and accrued income | 490/1 | - | €984 | +€984 | |
| Total equity and liabilities | 10/49 | €12,585 | €2,636,367 | +€2.6m | +20,848% |
| Equity | 10/15 | €10,961 | €2,635,504 | +€2.6m | +23,945% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€7,639 | €2,616,904 | +€2.6m | |
| Amounts payable | 17/49 | €1,624 | €864 | -€760 | -46.8% |
| Amounts payable within one year | 42/48 | €1,624 | €864 | -€760 | -46.8% |
| Trade debts | 44 | €749 | €864 | +€114 | +15.3% |
| Suppliers | 440/4 | €749 | €864 | +€114 | +15.3% |
| Taxes, remuneration and social security | 45 | €875 | €0 | -€875 | -100% |
| Taxes | 450/3 | €875 | €0 | -€875 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €2,838 | +€2,838 | |
| Other operating charges | 640/8 | €505 | €444 | -€61 | -12.1% |
| Gross operating margin | 9900 | €15,838 | €22,693 | +€6,855 | +43.3% |
| Operating profit (loss) | 9901 | €15,333 | €19,411 | +€4,078 | +26.6% |
| Financial income | 75/76B | €105,000 | €2,612,491 | +€2.5m | +2,388% |
| Recurring financial income | 75 | €105,000 | €2,604 | -€102,396 | -97.5% |
| Non-recurring financial income | 76B | - | €2,609,887 | +€2.6m | |
| Financial charges | 65/66B | €44 | €49 | +€5 | +12.1% |
| Recurring financial charges | 65 | €44 | €49 | +€5 | +12.1% |
| Profit (loss) for the period before taxes | 9903 | €120,289 | €2,631,853 | +€2.5m | +2,088% |
| Income taxes | 67/77 | €875 | €7,311 | +€6,436 | +736% |
| Profit (loss) for the period | 9904 | €119,415 | €2,624,543 | +€2.5m | +2,098% |
| Profit (loss) for the period to be appropriated | 9905 | €119,415 | €2,624,543 | +€2.5m | +2,098% |
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 30 October 2026 via checked.be.