IMPPHI: 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.
What changed
IMPPHI
NACE 70.100, Activities of head offices
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3.2m
2024 · €146,710+€3.1m
Equity
€6.0m
2024 · €2.8m+€3.2m
Cash
€525,234
2024 · €465,768+€59,466
Balance sheet total
€11.9m
2024 · €8.7m+€3.2m
Largest movements
Assets
- Current investments +€3.1m
up €3.1m (+121.5%), from €2.6m to €5.7m
Equity and liabilities
- Reserves +€3.2m
up €3.2m (+116.6%), from €2.7m to €5.9m
of which Distributable reserves: +€3.2m
Income statement
- Financial income +€2.9m
up €2.9m (+1861.4%), from €158,284 to €3.1m
- Turnover -€636,817
no longer reported in 2025 (was €636,817)
- Gross operating margin +€573,228
new in 2025: €573,228
- Financial charges -€111,092
down €111,092 (-23.4%), from €475,736 to €364,645
- Services and other goods -€105,599
no longer reported in 2025 (was €105,599)
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
€146,710
Turnover
-€636,817
Other operating income
-€38,580
Services and other goods
+€105,599
Depreciation
-€1,287
Other operating charges
+€1,213
Other operating items
+€573,228
Financial income
+€2.9m
Financial charges
+€111,092
Taxes
-€7,328
Result 2025
€3.2m
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
+€3.2m
Investment
-€3.1m
Financing
€0
Cash 2024
€465,768
From operations (derived)
+€3.2m
Net result for the year
+€3.2m
Depreciation
+€35,335
Receivables within one year
-€41,932
Smaller working-capital items
-€6,069
Provisions
-€48,022
Tax, wage and social debts
+€17,646
Other debts
+€19,699
Investment (derived)
-€3.1m
Investment in fixed assets (net)
-€15,424
Current investments
-€3.1m
Cash 2025
€525,234
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,689,300 | €11,876,092 | +€3.2m | +36.7% |
| Fixed assets | 21/28 | €5,556,327 | €5,536,416 | -€19,910 | -0.4% |
| Tangible fixed assets | 22/27 | €313,310 | €293,399 | -€19,910 | -6.4% |
| Land and buildings | 22 | €281,198 | €261,338 | -€19,860 | -7.1% |
| Plant, machinery and equipment | 23 | €3,052 | €16,625 | +€13,572 | +444.6% |
| Furniture and vehicles | 24 | €29,059 | €15,436 | -€13,623 | -46.9% |
| Financial fixed assets | 28 | €5,243,017 | €5,243,017 | = | 0.0% |
| Affiliated companies | 280/1 | €4,782,853 | - | -€4.8m | |
| Participating interests | 280 | €4,782,853 | - | -€4.8m | |
| Companies linked by participating interests | 282/3 | €460,164 | - | -€460,164 | |
| Participating interests | 282 | €460,164 | - | -€460,164 | |
| Current assets | 29/58 | €3,132,973 | €6,339,676 | +€3.2m | +102.4% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €108,108 | €150,040 | +€41,932 | +38.8% |
| Trade receivables | 40 | €59,439 | €59,083 | -€356 | -0.6% |
| Other amounts receivable | 41 | €48,669 | €90,957 | +€42,288 | +86.9% |
| Current investments | 50/53 | €2,553,309 | €5,655,223 | +€3.1m | +121.5% |
| Other investments | 51/53 | €2,553,309 | - | -€2.6m | |
| Cash at bank and in hand | 54/58 | €465,768 | €525,234 | +€59,466 | +12.8% |
| Deferred charges and accrued income | 490/1 | €5,788 | €9,179 | +€3,391 | +58.6% |
| Total equity and liabilities | 10/49 | €8,689,300 | €11,876,092 | +€3.2m | +36.7% |
| Equity | 10/15 | €2,757,853 | €5,958,000 | +€3.2m | +116.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €2,745,453 | €5,945,600 | +€3.2m | +116.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,745,453 | €5,945,600 | +€3.2m | +116.6% |
| Provisions and deferred taxes | 16 | €5,026,434 | €4,978,412 | -€48,022 | -1.0% |
| Provisions for liabilities and charges | 160/5 | €5,026,434 | €4,978,412 | -€48,022 | -1.0% |
| Other liabilities and charges | 164/5 | €5,026,434 | €4,978,412 | -€48,022 | -1.0% |
| Amounts payable | 17/49 | €905,013 | €939,680 | +€34,667 | +3.8% |
| Amounts payable within one year | 42/48 | €597,410 | €633,267 | +€35,857 | +6.0% |
| Trade debts | 44 | €1,714 | €226 | -€1,488 | -86.8% |
| Suppliers | 440/4 | €1,714 | €226 | -€1,488 | -86.8% |
| Taxes, remuneration and social security | 45 | €46,016 | €63,662 | +€17,646 | +38.3% |
| Taxes | 450/3 | €42,366 | €63,662 | +€21,296 | +50.3% |
| Remuneration and social security | 454/9 | €3,650 | €0 | -€3,650 | -100.0% |
| Other amounts payable | 47/48 | €549,679 | €569,378 | +€19,699 | +3.6% |
| Accrued charges and deferred income | 492/3 | €307,603 | €306,413 | -€1,190 | -0.4% |
| Operating income | 70/76A | €675,397 | - | -€675,397 | |
| Turnover | 70 | €636,817 | - | -€636,817 | |
| Other operating income | 74 | €38,580 | - | -€38,580 | |
| Operating charges | 60/66A | €145,996 | - | -€145,996 | |
| Services and other goods | 61 | €105,599 | - | -€105,599 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,048 | €35,335 | +€1,287 | +3.8% |
| Other operating charges | 640/8 | €6,349 | €5,136 | -€1,213 | -19.1% |
| Gross operating margin | 9900 | - | €573,228 | +€573,228 | |
| Operating profit (loss) | 9901 | €529,401 | €532,757 | +€3,355 | +0.6% |
| Financial income | 75/76B | €158,284 | €3,104,603 | +€2.9m | +1861.4% |
| Recurring financial income | 75 | €158,284 | €3,104,603 | +€2.9m | +1861.4% |
| Income from current assets | 751 | €145,045 | - | -€145,045 | |
| Other financial income | 752/9 | €13,238 | - | -€13,238 | |
| Financial charges | 65/66B | €475,736 | €364,645 | -€111,092 | -23.4% |
| Recurring financial charges | 65 | €475,736 | €364,645 | -€111,092 | -23.4% |
| Debt charges | 650 | €419,724 | - | -€419,724 | |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | €41,135 | - | -€41,135 | |
| Other financial charges | 652/9 | €14,878 | - | -€14,878 | |
| Profit (loss) for the period before taxes | 9903 | €211,949 | €3,272,715 | +€3.1m | +1444.1% |
| Income taxes | 67/77 | €65,239 | €72,568 | +€7,328 | +11.2% |
| Taxes | 670/3 | €65,239 | - | -€65,239 | |
| Profit (loss) for the period | 9904 | €146,710 | €3,200,147 | +€3.1m | +2081.3% |
| Profit (loss) for the period to be appropriated | 9905 | €146,710 | €3,200,147 | +€3.1m | +2081.3% |
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 12 October 2026 via checked.be.