IMPLEA: 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.
IMPLEA
Largest movements
- Financial fixed assets -€78,500
down €78,500 (-43.0%), from €182,410 to €103,910
- Tangible fixed assets -€65,100
down €65,100 (-27.0%), from €240,717 to €175,617
of which Furniture and vehicles: -€59,719
- Cash -€47,705
down €47,705 (-62.5%), from €76,298 to €28,593
mainly Contributions, distributions and other (-€127,700) and Debts after one year (-€48,624)
- Receivables within one year +€8,498
up €8,498 (+13.2%), from €64,322 to €72,820
of which Trade receivables: +€33,209
- Reserves -€103,170
down €103,170 (-37.7%), from €273,910 to €170,740
of which Distributable reserves: -€103,170
- Debts after one year -€48,624
down €48,624 (-34.8%), from €139,757 to €91,133
- Other debts -€31,996
down €31,996 (-55.3%), from €57,836 to €25,840
- Trade debts -€12,631
down €12,631 (-56.2%), from €22,493 to €9,862
- Tax, wage and social debts +€11,534
up €11,534 (+312.6%), from €3,690 to €15,224
- Gross operating margin +€23,104
up €23,104 (+25.5%), from €90,488 to €113,592
- Depreciation +€17,404
up €17,404 (+37.6%), from €46,315 to €63,719
- Taxes +€11,999
up €11,999 (+150.6%), from €7,967 to €19,966
- Financial income -€7,911
down €7,911 (-68.0%), from €11,636 to €3,725
- Financial charges +€1,705
up €1,705 (+23.0%), from €7,397 to €9,102
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 | €570,748 | €385,990 | -€184,758 | -32.4% |
| Fixed assets | 21/28 | €423,127 | €279,527 | -€143,600 | -33.9% |
| Tangible fixed assets | 22/27 | €240,717 | €175,617 | -€65,100 | -27.0% |
| Plant, machinery and equipment | 23 | €26,832 | €23,930 | -€2,902 | -10.8% |
| Furniture and vehicles | 24 | €211,406 | €151,687 | -€59,719 | -28.2% |
| Assets under construction and advance payments | 27 | €2,479 | - | -€2,479 | |
| Financial fixed assets | 28 | €182,410 | €103,910 | -€78,500 | -43.0% |
| Current assets | 29/58 | €147,621 | €106,463 | -€41,157 | -27.9% |
| Amounts receivable within one year | 40/41 | €64,322 | €72,820 | +€8,498 | +13.2% |
| Trade receivables | 40 | €33,842 | €67,050 | +€33,209 | +98.1% |
| Other amounts receivable | 41 | €30,481 | €5,770 | -€24,711 | -81.1% |
| Cash at bank and in hand | 54/58 | €76,298 | €28,593 | -€47,705 | -62.5% |
| Deferred charges and accrued income | 490/1 | €7,000 | €5,050 | -€1,950 | -27.9% |
| Total equity and liabilities | 10/49 | €570,748 | €385,990 | -€184,758 | -32.4% |
| Equity | 10/15 | €298,476 | €195,307 | -€103,170 | -34.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €273,910 | €170,740 | -€103,170 | -37.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €220 | €220 | = | 0.0% |
| Distributable reserves | 133 | €271,830 | €168,660 | -€103,170 | -38.0% |
| Profit (loss) carried forward | 14 | €18,366 | €18,366 | = | 0.0% |
| Amounts payable | 17/49 | €272,271 | €190,683 | -€81,588 | -30.0% |
| Amounts payable after more than one year | 17 | €139,757 | €91,133 | -€48,624 | -34.8% |
| Financial debts | 170/4 | €139,757 | €91,133 | -€48,624 | -34.8% |
| Amounts payable within one year | 42/48 | €132,514 | €99,551 | -€32,964 | -24.9% |
| Current portion of amounts payable after more than one year | 42 | €48,495 | €48,624 | +€130 | +0.3% |
| Trade debts | 44 | €22,493 | €9,862 | -€12,631 | -56.2% |
| Suppliers | 440/4 | €22,493 | €9,862 | -€12,631 | -56.2% |
| Taxes, remuneration and social security | 45 | €3,690 | €15,224 | +€11,534 | +312.6% |
| Taxes | 450/3 | €3,690 | €15,224 | +€11,534 | +312.6% |
| Other amounts payable | 47/48 | €57,836 | €25,840 | -€31,996 | -55.3% |
| Non-recurring operating income | 76A | €302 | - | -€302 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €46,315 | €63,719 | +€17,404 | +37.6% |
| Gross operating margin | 9900 | €90,488 | €113,592 | +€23,104 | +25.5% |
| Operating profit (loss) | 9901 | €44,173 | €49,873 | +€5,700 | +12.9% |
| Financial income | 75/76B | €11,636 | €3,725 | -€7,911 | -68.0% |
| Recurring financial income | 75 | €11,636 | €3,725 | -€7,911 | -68.0% |
| Financial charges | 65/66B | €7,397 | €9,102 | +€1,705 | +23.0% |
| Recurring financial charges | 65 | €7,397 | €9,102 | +€1,705 | +23.0% |
| Profit (loss) for the period before taxes | 9903 | €48,412 | €44,496 | -€3,916 | -8.1% |
| Income taxes | 67/77 | €7,967 | €19,966 | +€11,999 | +150.6% |
| Profit (loss) for the period | 9904 | €40,445 | €24,530 | -€15,914 | -39.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,445 | €24,530 | -€15,914 | -39.3% |
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 9 October 2026 via checked.be.