IMPOWER: 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.
IMPOWER
Largest movements
- Tangible fixed assets +€422,094
up €422,094 (+27.2%), from €1.6m to €2.0m
of which Land and buildings: +€424,496
- Formation expenses +€70,829
new in 2025: €70,829
- Cash -€51,677
down €51,677 (-92.5%), from €55,884 to €4,207
mainly Investment in fixed assets (net) (-€692,217) and Current portion of long-term debt (-€67,163)
- Debts after one year +€483,523
up €483,523 (+143.2%), from €337,655 to €821,178
- Current portion of long-term debt -€67,163
down €67,163 (-39.6%), from €169,697 to €102,535
- Trade debts +€41,318
up €41,318 (+417.8%), from €9,891 to €51,209
- Profit (loss) carried forward -€27,483
down €27,483 (-2.2%), from -€1.3m to -€1.3m
- Gross operating margin +€22,733
up €22,733 (+11.8%), from €193,278 to €216,011
- Financial charges +€13,081
up €13,081 (+108.2%), from €12,095 to €25,176
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 | €1,624,794 | €2,065,532 | +€440,738 | +27.1% |
| Formation expenses | 20 | - | €70,829 | +€70,829 | |
| Fixed assets | 21/28 | €1,552,000 | €1,974,094 | +€422,094 | +27.2% |
| Tangible fixed assets | 22/27 | €1,551,452 | €1,973,546 | +€422,094 | +27.2% |
| Land and buildings | 22 | €1,542,374 | €1,966,870 | +€424,496 | +27.5% |
| Plant, machinery and equipment | 23 | €8,263 | €5,532 | -€2,731 | -33.1% |
| Furniture and vehicles | 24 | €816 | €1,145 | +€329 | +40.3% |
| Financial fixed assets | 28 | €548 | €548 | = | 0.0% |
| Current assets | 29/58 | €72,794 | €20,609 | -€52,185 | -71.7% |
| Amounts receivable after more than one year | 29 | €2,702 | €2,702 | = | 0.0% |
| Other amounts receivable | 291 | €2,702 | €2,702 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €10,613 | €10,613 | = | 0.0% |
| Trade receivables | 40 | €10,613 | €10,613 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €55,884 | €4,207 | -€51,677 | -92.5% |
| Deferred charges and accrued income | 490/1 | €3,594 | €3,087 | -€507 | -14.1% |
| Total equity and liabilities | 10/49 | €1,624,794 | €2,065,532 | +€440,738 | +27.1% |
| Equity | 10/15 | €587,638 | €556,143 | -€31,496 | -5.4% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Revaluation surpluses | 12 | €998,982 | €998,982 | = | 0.0% |
| Reserves | 13 | €766,941 | €762,928 | -€4,013 | -0.5% |
| Tax-exempt reserves | 132 | €58,715 | €54,702 | -€4,013 | -6.8% |
| Distributable reserves | 133 | €708,225 | €708,225 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,252,652 | -€1,280,135 | -€27,483 | -2.2% |
| Provisions and deferred taxes | 16 | €31,278 | €29,211 | -€2,067 | -6.6% |
| Provisions for liabilities and charges | 160/5 | €1,044 | €1,044 | = | 0.0% |
| Environmental obligations | 163 | €1,044 | €1,044 | = | 0.0% |
| Deferred taxes | 168 | €30,234 | €28,167 | -€2,067 | -6.8% |
| Amounts payable | 17/49 | €1,005,878 | €1,480,178 | +€474,300 | +47.2% |
| Amounts payable after more than one year | 17 | €337,655 | €821,178 | +€483,523 | +143.2% |
| Financial debts | 170/4 | €337,655 | €821,178 | +€483,523 | +143.2% |
| Amounts payable within one year | 42/48 | €668,223 | €659,000 | -€9,223 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €169,697 | €102,535 | -€67,163 | -39.6% |
| Trade debts | 44 | €9,891 | €51,209 | +€41,318 | +417.8% |
| Suppliers | 440/4 | €9,891 | €51,209 | +€41,318 | +417.8% |
| Advances received on contracts in progress | 46 | €2,302 | €2,302 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €140 | €140 | = | 0.0% |
| Taxes | 450/3 | €140 | €140 | = | 0.0% |
| Other amounts payable | 47/48 | €486,192 | €502,814 | +€16,621 | +3.4% |
| Non-recurring operating income | 76A | €2,000 | - | -€2,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €199,457 | €199,294 | -€163 | -0.1% |
| Other operating charges | 640/8 | €23,416 | €25,125 | +€1,710 | +7.3% |
| Gross operating margin | 9900 | €193,278 | €216,011 | +€22,733 | +11.8% |
| Operating profit (loss) | 9901 | -€29,595 | -€8,409 | +€21,186 | +71.6% |
| Financial income | 75/76B | €1,548 | €31 | -€1,517 | -98.0% |
| Recurring financial income | 75 | €1,548 | €31 | -€1,517 | -98.0% |
| Financial charges | 65/66B | €12,095 | €25,176 | +€13,081 | +108.2% |
| Recurring financial charges | 65 | €12,095 | €25,176 | +€13,081 | +108.2% |
| Profit (loss) for the period before taxes | 9903 | -€40,142 | -€33,554 | +€6,588 | +16.4% |
| Transfer from deferred taxes | 780 | €2,067 | €2,067 | = | 0.0% |
| Income taxes | 67/77 | - | €9 | +€9 | |
| Profit (loss) for the period | 9904 | -€38,075 | -€31,496 | +€6,579 | +17.3% |
| Transfer from tax-exempt reserves | 789 | €4,013 | €4,013 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€34,062 | -€27,483 | +€6,579 | +19.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2024 and 31 January 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.