IMPEXCO: 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.
IMPEXCO
Largest movements
- Tangible fixed assets -€5,264
down €5,264 (-6.2%), from €85,486 to €80,222
- Cash +€1,935
up €1,935 (+31.3%), from €6,188 to €8,123
mainly Depreciation (+€5,264) and Trade debts (+€412)
- Profit (loss) carried forward -€3,729
down €3,729 (-8.6%), from -€43,267 to -€46,996
- Gross operating margin +€137
up €137 (+3.0%), from €4,599 to €4,735
- Other operating charges +€94
up €94 (+3.1%), from €3,055 to €3,150
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 | €91,867 | €88,549 | -€3,318 | -3.6% |
| Fixed assets | 21/28 | €85,486 | €80,222 | -€5,264 | -6.2% |
| Tangible fixed assets | 22/27 | €85,486 | €80,222 | -€5,264 | -6.2% |
| Land and buildings | 22 | €85,486 | €80,222 | -€5,264 | -6.2% |
| Current assets | 29/58 | €6,381 | €8,328 | +€1,947 | +30.5% |
| Amounts receivable within one year | 40/41 | €16 | €18 | +€3 | +16.7% |
| Other amounts receivable | 41 | €16 | €18 | +€3 | +16.7% |
| Cash at bank and in hand | 54/58 | €6,188 | €8,123 | +€1,935 | +31.3% |
| Deferred charges and accrued income | 490/1 | €177 | €186 | +€9 | +5.2% |
| Total equity and liabilities | 10/49 | €91,867 | €88,549 | -€3,318 | -3.6% |
| Equity | 10/15 | -€16,952 | -€20,682 | -€3,729 | -22.0% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €6,314 | €6,314 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Distributable reserves | 133 | €4,314 | €4,314 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,267 | -€46,996 | -€3,729 | -8.6% |
| Amounts payable | 17/49 | €108,819 | €109,231 | +€412 | +0.4% |
| Amounts payable after more than one year | 17 | €30,000 | €30,000 | = | 0.0% |
| Financial debts | 170/4 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €78,819 | €79,231 | +€412 | +0.5% |
| Trade debts | 44 | €1,083 | €1,495 | +€412 | +38.0% |
| Suppliers | 440/4 | €1,083 | €1,495 | +€412 | +38.0% |
| Other amounts payable | 47/48 | €77,736 | €77,736 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,221 | €5,264 | +€44 | +0.8% |
| Other operating charges | 640/8 | €3,055 | €3,150 | +€94 | +3.1% |
| Gross operating margin | 9900 | €4,599 | €4,735 | +€137 | +3.0% |
| Operating profit (loss) | 9901 | -€3,677 | -€3,679 | -€1 | 0.0% |
| Financial income | 75/76B | €36 | €30 | -€6 | -17.3% |
| Recurring financial income | 75 | €36 | €30 | -€6 | -17.3% |
| Financial charges | 65/66B | €106 | €81 | -€25 | -24.0% |
| Recurring financial charges | 65 | €106 | €81 | -€25 | -24.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,747 | -€3,729 | +€18 | +0.5% |
| Profit (loss) for the period | 9904 | -€3,747 | -€3,729 | +€18 | +0.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,747 | -€3,729 | +€18 | +0.5% |
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.