IMPEC'ARBRE: 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.
IMPEC'ARBRE
Largest movements
- Tangible fixed assets +€144,851
up €144,851 (+47.4%), from €305,527 to €450,378
of which Land and buildings: +€97,324
- Receivables within one year +€75,642
up €75,642 (+52.4%), from €144,484 to €220,126
of which Trade receivables: +€169,294
- Cash +€55,884
up €55,884 (+94.8%), from €58,962 to €114,846
mainly Other debts (+€587,561) and Debts after one year (+€155,634)
- Other debts +€587,561
new in 2025: €587,561
- Tax, wage and social debts -€553,346
down €553,346 (-99.1%), from €558,372 to €5,026
of which Remuneration and social security: -€553,103
- Debts after one year +€155,634
up €155,634 (+27.8%), from €560,592 to €716,226
of which Financial debts: +€168,425
- Profit (loss) carried forward +€59,159
up €59,159 (+30.7%), from €192,919 to €252,077
- Current portion of long-term debt +€22,762
up €22,762 (+27.8%), from €81,992 to €104,754
- Gross operating margin +€121,029
up €121,029 (+92.2%), from €131,335 to €252,363
- Financial charges +€96,915
up €96,915 (+458%), from €21,149 to €118,064
of which Non-recurring financial charges: +€90,793
- Financial income -€9,472
down €9,472 (-90.6%), from €10,457 to €986
of which Non-recurring financial income: -€9,750
- Taxes +€3,909
up €3,909 (+25.5%), from €15,334 to €19,244
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 | €1,456,246 | €1,733,962 | +€277,716 | +19.1% |
| Fixed assets | 21/28 | €1,238,241 | €1,391,220 | +€152,980 | +12.4% |
| Intangible fixed assets | 21 | €8,914 | €17,043 | +€8,129 | +91.2% |
| Tangible fixed assets | 22/27 | €305,527 | €450,378 | +€144,851 | +47.4% |
| Land and buildings | 22 | €259,099 | €356,424 | +€97,324 | +37.6% |
| Plant, machinery and equipment | 23 | - | €1,337 | +€1,337 | |
| Furniture and vehicles | 24 | €17,965 | €10,343 | -€7,623 | -42.4% |
| Leasing and similar rights | 25 | €28,463 | €82,275 | +€53,813 | +189% |
| Financial fixed assets | 28 | €923,800 | €923,800 | = | 0.0% |
| Current assets | 29/58 | €218,005 | €342,742 | +€124,736 | +57.2% |
| Stocks and contracts in progress | 3 | €1,478 | €2,941 | +€1,463 | +99.0% |
| Stocks | 30/36 | €1,478 | €2,941 | +€1,463 | +99.0% |
| Amounts receivable within one year | 40/41 | €144,484 | €220,126 | +€75,642 | +52.4% |
| Trade receivables | 40 | €48,347 | €217,641 | +€169,294 | +350% |
| Other amounts receivable | 41 | €96,136 | €2,485 | -€93,652 | -97.4% |
| Cash at bank and in hand | 54/58 | €58,962 | €114,846 | +€55,884 | +94.8% |
| Deferred charges and accrued income | 490/1 | €13,081 | €4,828 | -€8,253 | -63.1% |
| Total equity and liabilities | 10/49 | €1,456,246 | €1,733,962 | +€277,716 | +19.1% |
| Equity | 10/15 | €221,898 | €281,057 | +€59,159 | +26.7% |
| Contributions | 10/11 | €25,200 | €25,200 | = | 0.0% |
| Reserves | 13 | €3,780 | €3,780 | = | 0.0% |
| Distributable reserves | 133 | €3,780 | €3,780 | = | 0.0% |
| Profit (loss) carried forward | 14 | €192,919 | €252,077 | +€59,159 | +30.7% |
| Amounts payable | 17/49 | €1,234,347 | €1,452,905 | +€218,558 | +17.7% |
| Amounts payable after more than one year | 17 | €560,592 | €716,226 | +€155,634 | +27.8% |
| Financial debts | 170/4 | €328,792 | €497,217 | +€168,425 | +51.2% |
| Other amounts payable | 178/9 | €231,800 | €219,009 | -€12,791 | -5.5% |
| Amounts payable within one year | 42/48 | €673,755 | €736,679 | +€62,923 | +9.3% |
| Current portion of amounts payable after more than one year | 42 | €81,992 | €104,754 | +€22,762 | +27.8% |
| Financial debts | 43 | €5,655 | €5,113 | -€542 | -9.6% |
| Credit institutions | 430/8 | €5,655 | €5,113 | -€542 | -9.6% |
| Trade debts | 44 | €27,736 | €34,224 | +€6,488 | +23.4% |
| Suppliers | 440/4 | €27,736 | €34,224 | +€6,488 | +23.4% |
| Taxes, remuneration and social security | 45 | €558,372 | €5,026 | -€553,346 | -99.1% |
| Taxes | 450/3 | €5,269 | €5,026 | -€243 | -4.6% |
| Remuneration and social security | 454/9 | €553,103 | - | -€553,103 | |
| Other amounts payable | 47/48 | - | €587,561 | +€587,561 | |
| Remuneration, social security and pensions | 62 | €8,125 | €7,817 | -€308 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,493 | €46,153 | +€660 | +1.5% |
| Other operating charges | 640/8 | €4,485 | €2,912 | -€1,573 | -35.1% |
| Gross operating margin | 9900 | €131,335 | €252,363 | +€121,029 | +92.2% |
| Operating profit (loss) | 9901 | €73,231 | €195,481 | +€122,249 | +167% |
| Financial income | 75/76B | €10,457 | €986 | -€9,472 | -90.6% |
| Recurring financial income | 75 | €707 | €986 | +€278 | +39.3% |
| Non-recurring financial income | 76B | €9,750 | - | -€9,750 | |
| Financial charges | 65/66B | €21,149 | €118,064 | +€96,915 | +458% |
| Recurring financial charges | 65 | €21,149 | €27,271 | +€6,122 | +28.9% |
| Non-recurring financial charges | 66B | - | €90,793 | +€90,793 | |
| Profit (loss) for the period before taxes | 9903 | €62,540 | €78,402 | +€15,862 | +25.4% |
| Income taxes | 67/77 | €15,334 | €19,244 | +€3,909 | +25.5% |
| Profit (loss) for the period | 9904 | €47,205 | €59,159 | +€11,953 | +25.3% |
| Profit (loss) for the period to be appropriated | 9905 | €47,205 | €59,159 | +€11,953 | +25.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.