IMPPROVE: 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.
IMPPROVE
Largest movements
- Cash -€151,041
down €151,041 (-65.8%), from €229,470 to €78,429
mainly Receivables within one year (-€105,428) and Net result for the year (-€54,832)
- Receivables within one year +€105,428
up €105,428 (+79.0%), from €133,395 to €238,823
of which Trade receivables: +€99,550
- Profit (loss) carried forward -€54,832
down €54,832 (-67.6%), from €81,142 to €26,310
- Trade debts +€38,368
up €38,368 (+54.7%), from €70,081 to €108,449
- Other debts -€29,680
down €29,680 (-14.2%), from €209,142 to €179,463
- Advances received +€5,445
new in 2025: €5,445
- Gross operating margin -€75,126
down €75,126, from €20,711 to -€54,416
- Taxes -€6,735
down €6,735, from €6,726 to -€9
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 | €362,865 | €322,167 | -€40,698 | -11.2% |
| Fixed assets | 21/28 | - | €4,915 | +€4,915 | |
| Intangible fixed assets | 21 | - | €2,005 | +€2,005 | |
| Financial fixed assets | 28 | - | €2,910 | +€2,910 | |
| Current assets | 29/58 | €362,865 | €317,252 | -€45,613 | -12.6% |
| Amounts receivable within one year | 40/41 | €133,395 | €238,823 | +€105,428 | +79.0% |
| Trade receivables | 40 | €69,151 | €168,701 | +€99,550 | +144.0% |
| Other amounts receivable | 41 | €64,243 | €70,122 | +€5,879 | +9.2% |
| Cash at bank and in hand | 54/58 | €229,470 | €78,429 | -€151,041 | -65.8% |
| Total equity and liabilities | 10/49 | €362,865 | €322,167 | -€40,698 | -11.2% |
| Equity | 10/15 | €83,642 | €28,810 | -€54,832 | -65.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €81,142 | €26,310 | -€54,832 | -67.6% |
| Amounts payable | 17/49 | €279,223 | €293,357 | +€14,134 | +5.1% |
| Amounts payable within one year | 42/48 | €279,223 | €293,357 | +€14,134 | +5.1% |
| Trade debts | 44 | €70,081 | €108,449 | +€38,368 | +54.7% |
| Suppliers | 440/4 | €70,081 | €108,449 | +€38,368 | +54.7% |
| Advances received on contracts in progress | 46 | - | €5,445 | +€5,445 | |
| Other amounts payable | 47/48 | €209,142 | €179,463 | -€29,680 | -14.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €97 | €290 | +€193 | +198.9% |
| Gross operating margin | 9900 | €20,711 | -€54,416 | -€75,126 | |
| Operating profit (loss) | 9901 | €20,614 | -€54,706 | -€75,319 | |
| Financial income | 75/76B | €47 | - | -€47 | |
| Recurring financial income | 75 | €47 | - | -€47 | |
| Financial charges | 65/66B | €139 | €135 | -€4 | -3.0% |
| Recurring financial charges | 65 | €139 | €135 | -€4 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €20,521 | -€54,841 | -€75,362 | |
| Income taxes | 67/77 | €6,726 | -€9 | -€6,735 | |
| Profit (loss) for the period | 9904 | €13,795 | -€54,832 | -€68,626 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,795 | -€54,832 | -€68,626 |
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 7 October 2026 via checked.be.