IMPEXECO: 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.
What changed
IMPEXECO
NACE 46.460, Wholesale of pharmaceutical and medical goods
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€139,788
2024 · €177,947-€38,158
Equity
€2.4m
2024 · €2.3m+€139,788
Cash
€137,009
2024 · €665,198-€528,189
Balance sheet total
€3.8m
2024 · €4.8m-€921,884
Largest movements
Assets
- Cash -€528,189
down €528,189 (-79.4%), from €665,198 to €137,009
mainly Trade debts (-€936,949) and Tax, wage and social debts (-€124,723)
- Receivables within one year -€308,732
down €308,732 (-8.1%), from €3.8m to €3.5m
of which Other amounts receivable: -€938,811
- Stocks and contracts -€66,203
down €66,203 (-25.3%), from €261,969 to €195,766
Equity and liabilities
- Trade debts -€936,949
down €936,949 (-57.2%), from €1.6m to €702,195
- Profit (loss) carried forward +€139,788
up €139,788 (+17.3%), from €807,051 to €946,839
- Tax, wage and social debts -€124,723
down €124,723 (-14.5%), from €859,067 to €734,344
Income statement
- Goods and materials -€3.6m
down €3.6m (-23.0%), from €15.8m to €12.2m
of which Purchases: -€3.7m
- Turnover -€3.3m
down €3.3m (-19.8%), from €16.6m to €13.3m
- Services and other goods +€228,800
up €228,800 (+55.0%), from €416,300 to €645,100
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.
Result 2024
€177,947
Turnover
-€3.3m
Other operating income
+€44,476
Goods and materials
+€3.6m
Services and other goods
-€228,800
Depreciation
+€196
Write-downs
-€10,273
Other operating charges
-€89,885
Other operating items
-€50,457
Financial income
-€44,284
Financial charges
-€6,472
Taxes
+€10,427
Result 2025
€139,788
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.
From operations
-€524,598
Investment
-€3,592
Financing
€0
Cash 2024
€665,198
From operations (derived)
-€524,598
Net result for the year
+€139,788
Depreciation
+€1,813
Stocks and contracts
+€66,203
Receivables within one year
+€308,732
Deferred charges and accrued income
+€20,539
Trade debts
-€936,949
Tax, wage and social debts
-€124,723
Investment (derived)
-€3,592
Investment in fixed assets (net)
-€3,592
Cash 2025
€137,009
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,755,721 | €3,833,838 | -€921,884 | -19.4% |
| Fixed assets | 21/28 | €12,203 | €13,982 | +€1,779 | +14.6% |
| Intangible fixed assets | 21 | €395 | €803 | +€408 | +103.3% |
| Tangible fixed assets | 22/27 | €9,078 | €10,449 | +€1,371 | +15.1% |
| Plant, machinery and equipment | 23 | €9,078 | €10,449 | +€1,371 | +15.1% |
| Financial fixed assets | 28 | €2,730 | €2,730 | = | 0.0% |
| Other financial fixed assets | 284/8 | €2,730 | €2,730 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €2,730 | €2,730 | = | 0.0% |
| Current assets | 29/58 | €4,743,518 | €3,819,856 | -€923,663 | -19.5% |
| Stocks and contracts in progress | 3 | €261,969 | €195,766 | -€66,203 | -25.3% |
| Stocks | 30/36 | €261,969 | €195,766 | -€66,203 | -25.3% |
| Raw materials and consumables | 30/31 | €171,688 | €130,796 | -€40,891 | -23.8% |
| Goods purchased for resale | 34 | €90,281 | €64,969 | -€25,312 | -28.0% |
| Amounts receivable within one year | 40/41 | €3,791,208 | €3,482,476 | -€308,732 | -8.1% |
| Trade receivables | 40 | €638,146 | €1,268,225 | +€630,079 | +98.7% |
| Other amounts receivable | 41 | €3,153,062 | €2,214,251 | -€938,811 | -29.8% |
| Cash at bank and in hand | 54/58 | €665,198 | €137,009 | -€528,189 | -79.4% |
| Deferred charges and accrued income | 490/1 | €25,144 | €4,605 | -€20,539 | -81.7% |
| Total equity and liabilities | 10/49 | €4,755,721 | €3,833,838 | -€921,884 | -19.4% |
| Equity | 10/15 | €2,257,511 | €2,397,299 | +€139,788 | +6.2% |
| Contributions | 10/11 | €1,318,600 | €1,318,600 | = | 0.0% |
| Capital | 10 | €1,318,600 | €1,318,600 | = | 0.0% |
| Issued capital | 100 | €1,318,600 | €1,318,600 | = | 0.0% |
| Reserves | 13 | €131,860 | €131,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €131,860 | €131,860 | = | 0.0% |
| Legal reserve | 130 | €131,860 | €131,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €807,051 | €946,839 | +€139,788 | +17.3% |
| Amounts payable | 17/49 | €2,498,211 | €1,436,539 | -€1.1m | -42.5% |
| Amounts payable within one year | 42/48 | €2,498,211 | €1,436,539 | -€1.1m | -42.5% |
| Trade debts | 44 | €1,639,144 | €702,195 | -€936,949 | -57.2% |
| Suppliers | 440/4 | €1,639,144 | €702,195 | -€936,949 | -57.2% |
| Taxes, remuneration and social security | 45 | €859,067 | €734,344 | -€124,723 | -14.5% |
| Taxes | 450/3 | €859,067 | €734,344 | -€124,723 | -14.5% |
| Operating income | 70/76A | €16,824,907 | €13,569,696 | -€3.3m | -19.3% |
| Turnover | 70 | €16,644,923 | €13,345,236 | -€3.3m | -19.8% |
| Other operating income | 74 | €179,984 | €224,460 | +€44,476 | +24.7% |
| Operating charges | 60/66A | €16,698,519 | €13,441,136 | -€3.3m | -19.5% |
| Goods for resale, raw materials and consumables | 60 | €15,821,310 | €12,184,707 | -€3.6m | -23.0% |
| Purchases | 600/8 | €15,808,606 | €12,118,504 | -€3.7m | -23.3% |
| Change in stocks: decrease (increase) | 609 | €12,705 | €66,203 | +€53,499 | +421.1% |
| Services and other goods | 61 | €416,300 | €645,100 | +€228,800 | +55.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,008 | €1,813 | -€196 | -9.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€10,273 | - | +€10,273 | |
| Other operating charges | 640/8 | €430,302 | €520,187 | +€89,885 | +20.9% |
| Non-recurring operating charges | 66A | €38,871 | €89,328 | +€50,457 | +129.8% |
| Operating profit (loss) | 9901 | €126,388 | €128,560 | +€2,172 | +1.7% |
| Financial income | 75/76B | €200,175 | €155,891 | -€44,284 | -22.1% |
| Recurring financial income | 75 | €200,175 | €155,891 | -€44,284 | -22.1% |
| Income from current assets | 751 | €168,259 | €155,891 | -€12,368 | -7.4% |
| Other financial income | 752/9 | €31,916 | - | -€31,916 | |
| Financial charges | 65/66B | €85,225 | €91,697 | +€6,472 | +7.6% |
| Recurring financial charges | 65 | €85,225 | €91,697 | +€6,472 | +7.6% |
| Debt charges | 650 | €63,944 | €36,038 | -€27,906 | -43.6% |
| Other financial charges | 652/9 | €21,281 | €55,659 | +€34,379 | +161.5% |
| Profit (loss) for the period before taxes | 9903 | €241,338 | €192,754 | -€48,585 | -20.1% |
| Income taxes | 67/77 | €63,392 | €52,965 | -€10,427 | -16.4% |
| Taxes | 670/3 | €63,392 | €52,965 | -€10,427 | -16.4% |
| Profit (loss) for the period | 9904 | €177,947 | €139,788 | -€38,158 | -21.4% |
| Profit (loss) for the period to be appropriated | 9905 | €177,947 | €139,788 | -€38,158 | -21.4% |
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 9 October 2026 via checked.be.