IMPRITEX: 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.
What changed
IMPRITEX
NACE 17.210, Manufacture of paper and paper products
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€237,704
2024 · €265,554-€27,850
Equity
€2.4m
2024 · €2.2m+€164,744
Cash
€504,725
2024 · €460,659+€44,066
Balance sheet total
€3.6m
2024 · €3.8m-€131,381
Largest movements
Assets
- Tangible fixed assets -€329,383
down €329,383 (-16.9%), from €2.0m to €1.6m
of which Leasing and similar rights: -€353,200
- Receivables within one year +€235,627
up €235,627 (+41.0%), from €574,109 to €809,736
of which Trade receivables: +€194,782
- Stocks and contracts -€94,619
down €94,619 (-13.7%), from €688,876 to €594,257
- Cash +€44,066
up €44,066 (+9.6%), from €460,659 to €504,725
mainly Depreciation (+€406,127) and Net result for the year (+€237,704)
Equity and liabilities
- Debts after one year -€228,865
down €228,865 (-32.6%), from €702,113 to €473,248
- Short-term financial debts -€200,000
no longer reported in 2025 (was €200,000)
- Reserves +€164,846
up €164,846 (+7.8%), from €2.1m to €2.3m
of which Distributable reserves: +€166,000
- Trade debts +€92,148
up €92,148 (+35.2%), from €261,974 to €354,122
- Other debts +€72,000
new in 2025: €72,000
Income statement
- Staff costs +€114,956
up €114,956 (+12.5%), from €917,843 to €1.0m
- Gross operating margin +€43,138
up €43,138 (+2.5%), from €1.7m to €1.8m
- Taxes -€21,318
down €21,318 (-21.6%), from €98,641 to €77,323
- Write-downs -€20,178
no longer reported in 2025 (was €20,178)
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
€265,554
Gross operating margin
+€43,138
Staff costs
-€114,956
Depreciation
-€3,446
Write-downs
+€20,178
Other operating charges
-€1,413
Financial income
-€2,160
Financial charges
+€9,524
Taxes
+€21,318
Deferred taxes and other
-€33
Result 2025
€237,704
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
+€638,457
Investment
-€74,601
Financing
-€519,790
Cash 2024
€460,659
From operations (derived)
+€638,457
Net result for the year
+€237,704
Depreciation
+€406,127
Stocks and contracts
+€94,619
Receivables within one year
-€235,627
Deferred charges and accrued income
-€15,071
Provisions
-€626
Trade debts
+€92,148
Tax, wage and social debts
-€18,224
Advances received
+€6,811
Other debts
+€72,000
Accrued charges and deferred income
-€1,404
Investment (derived)
-€74,601
Investment in fixed assets (net)
-€74,601
Financing
-€519,790
Debts after one year
-€228,865
Current portion of long-term debt
-€17,965
Short-term financial debts
-€200,000
Contributions, distributions and other
-€72,960
Cash 2025
€504,725
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,756,697 | €3,625,316 | -€131,381 | -3.5% |
| Fixed assets | 21/28 | €2,011,332 | €1,679,806 | -€331,526 | -16.5% |
| Intangible fixed assets | 21 | €35,265 | €30,933 | -€4,332 | -12.3% |
| Tangible fixed assets | 22/27 | €1,951,660 | €1,622,277 | -€329,383 | -16.9% |
| Land and buildings | 22 | €227,321 | €245,137 | +€17,816 | +7.8% |
| Plant, machinery and equipment | 23 | €609,681 | €615,742 | +€6,061 | +1.0% |
| Furniture and vehicles | 24 | €27,858 | €27,798 | -€60 | -0.2% |
| Leasing and similar rights | 25 | €1,086,800 | €733,600 | -€353,200 | -32.5% |
| Financial fixed assets | 28 | €24,407 | €26,596 | +€2,189 | +9.0% |
| Current assets | 29/58 | €1,745,365 | €1,945,510 | +€200,145 | +11.5% |
| Stocks and contracts in progress | 3 | €688,876 | €594,257 | -€94,619 | -13.7% |
| Stocks | 30/36 | €688,876 | €594,257 | -€94,619 | -13.7% |
| Amounts receivable within one year | 40/41 | €574,109 | €809,736 | +€235,627 | +41.0% |
| Trade receivables | 40 | €561,224 | €756,006 | +€194,782 | +34.7% |
| Other amounts receivable | 41 | €12,885 | €53,730 | +€40,845 | +317.0% |
| Cash at bank and in hand | 54/58 | €460,659 | €504,725 | +€44,066 | +9.6% |
| Deferred charges and accrued income | 490/1 | €21,721 | €36,792 | +€15,071 | +69.4% |
| Total equity and liabilities | 10/49 | €3,756,697 | €3,625,316 | -€131,381 | -3.5% |
| Equity | 10/15 | €2,198,217 | €2,362,961 | +€164,744 | +7.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €2,116,278 | €2,281,124 | +€164,846 | +7.8% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €23,078 | €21,924 | -€1,154 | -5.0% |
| Distributable reserves | 133 | €2,087,000 | €2,253,000 | +€166,000 | +8.0% |
| Profit (loss) carried forward | 14 | €748 | €1,606 | +€858 | +114.7% |
| Investment grants | 15 | €19,191 | €18,231 | -€960 | -5.0% |
| Provisions and deferred taxes | 16 | €12,512 | €11,886 | -€626 | -5.0% |
| Deferred taxes | 168 | €12,512 | €11,886 | -€626 | -5.0% |
| Amounts payable | 17/49 | €1,545,968 | €1,250,469 | -€295,499 | -19.1% |
| Amounts payable after more than one year | 17 | €702,113 | €473,248 | -€228,865 | -32.6% |
| Financial debts | 170/4 | €702,113 | €473,248 | -€228,865 | -32.6% |
| Amounts payable within one year | 42/48 | €842,214 | €776,984 | -€65,230 | -7.7% |
| Current portion of amounts payable after more than one year | 42 | €246,830 | €228,865 | -€17,965 | -7.3% |
| Financial debts | 43 | €200,000 | - | -€200,000 | |
| Credit institutions | 430/8 | €200,000 | - | -€200,000 | |
| Trade debts | 44 | €261,974 | €354,122 | +€92,148 | +35.2% |
| Suppliers | 440/4 | €261,974 | €354,122 | +€92,148 | +35.2% |
| Advances received on contracts in progress | 46 | - | €6,811 | +€6,811 | |
| Taxes, remuneration and social security | 45 | €133,410 | €115,186 | -€18,224 | -13.7% |
| Taxes | 450/3 | €21,355 | €23,107 | +€1,752 | +8.2% |
| Remuneration and social security | 454/9 | €112,055 | €92,079 | -€19,976 | -17.8% |
| Other amounts payable | 47/48 | - | €72,000 | +€72,000 | |
| Accrued charges and deferred income | 492/3 | €1,641 | €237 | -€1,404 | -85.6% |
| Non-recurring operating income | 76A | €5,245 | - | -€5,245 | |
| Remuneration, social security and pensions | 62 | €917,843 | €1,032,799 | +€114,956 | +12.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €402,681 | €406,127 | +€3,446 | +0.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €20,178 | - | -€20,178 | |
| Other operating charges | 640/8 | €18,767 | €20,180 | +€1,413 | +7.5% |
| Gross operating margin | 9900 | €1,743,368 | €1,786,506 | +€43,138 | +2.5% |
| Operating profit (loss) | 9901 | €383,899 | €327,400 | -€56,499 | -14.7% |
| Financial income | 75/76B | €4,942 | €2,782 | -€2,160 | -43.7% |
| Recurring financial income | 75 | €4,942 | €2,782 | -€2,160 | -43.7% |
| Financial charges | 65/66B | €25,305 | €15,781 | -€9,524 | -37.6% |
| Recurring financial charges | 65 | €25,305 | €15,781 | -€9,524 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €363,536 | €314,401 | -€49,135 | -13.5% |
| Transfer from deferred taxes | 780 | €659 | €626 | -€33 | -5.0% |
| Income taxes | 67/77 | €98,641 | €77,323 | -€21,318 | -21.6% |
| Profit (loss) for the period | 9904 | €265,554 | €237,704 | -€27,850 | -10.5% |
| Transfer from tax-exempt reserves | 789 | €1,214 | €1,154 | -€60 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €266,768 | €238,858 | -€27,910 | -10.5% |
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 3 October 2026 via checked.be.