IMPICABLE AGENCY: 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.
IMPICABLE AGENCY
Largest movements
- Receivables within one year -€152,690
down €152,690 (-48.3%), from €316,219 to €163,528
of which Trade receivables: -€132,591
- Cash +€60,410
up €60,410 (+35.6%), from €169,800 to €230,210
mainly Receivables within one year (+€152,690) and Net result for the year (+€106,126)
- Tangible fixed assets -€39,805
down €39,805 (-7.2%), from €550,591 to €510,786
- Trade debts -€161,098
down €161,098 (-96.1%), from €167,632 to €6,534
- Reserves +€106,126
up €106,126 (+16.7%), from €636,847 to €742,972
- Debts after one year -€97,402
down €97,402 (-19.5%), from €499,392 to €401,990
- Tax, wage and social debts +€23,527
up €23,527 (+734%), from €3,204 to €26,731
of which Remuneration and social security: +€22,227
- Gross operating margin -€57,137
down €57,137 (-60.4%), from €94,570 to €37,432
- Taxes -€16,117
down €16,117 (-59.1%), from €27,285 to €11,168
- Other operating charges +€4,823
up €4,823 (+463%), from €1,042 to €5,864
- Depreciation -€1,093
down €1,093 (-3.3%), from €33,310 to €32,217
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 | €1,561,907 | €1,428,284 | -€133,623 | -8.6% |
| Fixed assets | 21/28 | €1,073,966 | €1,034,161 | -€39,805 | -3.7% |
| Tangible fixed assets | 22/27 | €550,591 | €510,786 | -€39,805 | -7.2% |
| Land and buildings | 22 | €472,490 | €459,171 | -€13,319 | -2.8% |
| Plant, machinery and equipment | 23 | €332 | €0 | -€332 | -100% |
| Furniture and vehicles | 24 | €16,998 | €6,413 | -€10,586 | -62.3% |
| Other tangible fixed assets | 26 | €60,771 | €45,202 | -€15,568 | -25.6% |
| Financial fixed assets | 28 | €523,375 | €523,375 | = | 0.0% |
| Current assets | 29/58 | €487,941 | €394,123 | -€93,818 | -19.2% |
| Amounts receivable within one year | 40/41 | €316,219 | €163,528 | -€152,690 | -48.3% |
| Trade receivables | 40 | €178,902 | €46,311 | -€132,591 | -74.1% |
| Other amounts receivable | 41 | €137,317 | €117,217 | -€20,099 | -14.6% |
| Cash at bank and in hand | 54/58 | €169,800 | €230,210 | +€60,410 | +35.6% |
| Deferred charges and accrued income | 490/1 | €1,921 | €384 | -€1,537 | -80.0% |
| Total equity and liabilities | 10/49 | €1,561,907 | €1,428,284 | -€133,623 | -8.6% |
| Equity | 10/15 | €789,501 | €895,627 | +€106,126 | +13.4% |
| Contributions | 10/11 | €9,100 | €9,100 | = | 0.0% |
| Reserves | 13 | €636,847 | €742,972 | +€106,126 | +16.7% |
| Distributable reserves | 133 | €636,847 | €742,972 | +€106,126 | +16.7% |
| Profit (loss) carried forward | 14 | €143,555 | €143,555 | = | 0.0% |
| Amounts payable | 17/49 | €772,405 | €532,657 | -€239,748 | -31.0% |
| Amounts payable after more than one year | 17 | €499,392 | €401,990 | -€97,402 | -19.5% |
| Financial debts | 170/4 | €499,392 | €401,990 | -€97,402 | -19.5% |
| Amounts payable within one year | 42/48 | €273,013 | €130,667 | -€142,346 | -52.1% |
| Current portion of amounts payable after more than one year | 42 | €94,311 | €97,402 | +€3,091 | +3.3% |
| Financial debts | 43 | €1,466 | €0 | -€1,466 | -100% |
| Credit institutions | 430/8 | €1,466 | €0 | -€1,466 | -100% |
| Trade debts | 44 | €167,632 | €6,534 | -€161,098 | -96.1% |
| Suppliers | 440/4 | €167,632 | €6,534 | -€161,098 | -96.1% |
| Taxes, remuneration and social security | 45 | €3,204 | €26,731 | +€23,527 | +734% |
| Taxes | 450/3 | - | €1,300 | +€1,300 | |
| Remuneration and social security | 454/9 | €3,204 | €25,431 | +€22,227 | +694% |
| Other amounts payable | 47/48 | €6,400 | €0 | -€6,400 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,310 | €32,217 | -€1,093 | -3.3% |
| Other operating charges | 640/8 | €1,042 | €5,864 | +€4,823 | +463% |
| Gross operating margin | 9900 | €94,570 | €37,432 | -€57,137 | -60.4% |
| Operating profit (loss) | 9901 | €60,218 | -€649 | -€60,867 | |
| Financial income | 75/76B | €135,379 | €135,219 | -€160 | -0.1% |
| Recurring financial income | 75 | €135,379 | €135,219 | -€160 | -0.1% |
| Financial charges | 65/66B | €17,127 | €17,276 | +€150 | +0.9% |
| Recurring financial charges | 65 | €17,127 | €17,276 | +€150 | +0.9% |
| Profit (loss) for the period before taxes | 9903 | €178,470 | €117,294 | -€61,177 | -34.3% |
| Income taxes | 67/77 | €27,285 | €11,168 | -€16,117 | -59.1% |
| Profit (loss) for the period | 9904 | €151,185 | €106,126 | -€45,060 | -29.8% |
| Profit (loss) for the period to be appropriated | 9905 | €151,185 | €106,126 | -€45,060 | -29.8% |
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 16 October 2026 via checked.be.