IMPROFINI: 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
IMPROFINI
NACE 68.110, Buying and selling of own real estate
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€32,895
2024 · €34,735-€1,840
Equity
€1.4m
2024 · €1.3m+€32,895
Cash
€14,188
2024 · €32,101-€17,913
Balance sheet total
€1.8m
2024 · €1.8m-€20,720
Largest movements
Assets
No asset line moved by more than 1% of the balance sheet total.
Equity and liabilities
- Current portion of long-term debt -€54,075
down €54,075 (-13.3%), from €407,920 to €353,845
- Reserves +€32,895
up €32,895 (+2.5%), from €1.3m to €1.4m
of which Distributable reserves: +€32,895
Income statement
- Gross operating margin -€3,495
down €3,495 (-4.3%), from €81,021 to €77,526
- Financial charges -€1,425
down €1,425 (-11.3%), from €12,586 to €11,161
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
€34,735
Gross operating margin
-€3,495
Other operating charges
-€252
Financial income
-€223
Financial charges
+€1,425
Taxes
+€706
Result 2025
€32,895
raises the resultlowers the result
Derived cash bridge
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
+€40,421
Investment
-€414
Financing
-€57,920
Cash 2024
€32,101
From operations (derived)
+€40,421
Net result for the year
+€32,895
Depreciation
+€18,063
Receivables within one year
-€14,841
Smaller working-capital items
-€51
Tax, wage and social debts
+€4,024
Accrued charges and deferred income
+€330
Investment (derived)
-€414
Investment in fixed assets (net)
-€414
Financing
-€57,920
Debts after one year
-€3,845
Current portion of long-term debt
-€54,075
Cash 2025
€14,188
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,808,664 | €1,787,944 | -€20,720 | -1.1% |
| Fixed assets | 21/28 | €1,773,376 | €1,755,727 | -€17,649 | -1.0% |
| Tangible fixed assets | 22/27 | €142,229 | €124,580 | -€17,649 | -12.4% |
| Land and buildings | 22 | €102,115 | €100,036 | -€2,079 | -2.0% |
| Plant, machinery and equipment | 23 | €2,661 | €2,289 | -€372 | -14.0% |
| Furniture and vehicles | 24 | €37,143 | €21,686 | -€15,457 | -41.6% |
| Other tangible fixed assets | 26 | €310 | €155 | -€155 | -50.0% |
| Assets under construction and advance payments | 27 | - | €414 | +€414 | |
| Financial fixed assets | 28 | €1,631,147 | €1,631,147 | = | 0.0% |
| Current assets | 29/58 | €35,288 | €32,217 | -€3,071 | -8.7% |
| Amounts receivable within one year | 40/41 | €3,187 | €18,028 | +€14,841 | +466% |
| Trade receivables | 40 | €440 | €14,520 | +€14,081 | +3,204% |
| Other amounts receivable | 41 | €2,748 | €3,508 | +€761 | +27.7% |
| Cash at bank and in hand | 54/58 | €32,101 | €14,188 | -€17,913 | -55.8% |
| Deferred charges and accrued income | 490/1 | - | €1 | +€1 | |
| Total equity and liabilities | 10/49 | €1,808,664 | €1,787,944 | -€20,720 | -1.1% |
| Equity | 10/15 | €1,346,178 | €1,379,073 | +€32,895 | +2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,324,735 | €1,357,631 | +€32,895 | +2.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,322,875 | €1,355,771 | +€32,895 | +2.5% |
| Profit (loss) carried forward | 14 | €2,843 | €2,843 | = | 0.0% |
| Amounts payable | 17/49 | €462,486 | €408,870 | -€53,616 | -11.6% |
| Amounts payable after more than one year | 17 | €33,845 | €30,000 | -€3,845 | -11.4% |
| Financial debts | 170/4 | €33,845 | €30,000 | -€3,845 | -11.4% |
| Amounts payable within one year | 42/48 | €422,347 | €372,246 | -€50,101 | -11.9% |
| Current portion of amounts payable after more than one year | 42 | €407,920 | €353,845 | -€54,075 | -13.3% |
| Trade debts | 44 | €235 | €185 | -€50 | -21.2% |
| Suppliers | 440/4 | €235 | €185 | -€50 | -21.2% |
| Taxes, remuneration and social security | 45 | €14,192 | €18,216 | +€4,024 | +28.4% |
| Taxes | 450/3 | €14,192 | €13,903 | -€289 | -2.0% |
| Remuneration and social security | 454/9 | - | €4,313 | +€4,313 | |
| Accrued charges and deferred income | 492/3 | €6,294 | €6,624 | +€330 | +5.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,063 | €18,063 | = | 0.0% |
| Other operating charges | 640/8 | €2,607 | €2,859 | +€252 | +9.7% |
| Gross operating margin | 9900 | €81,021 | €77,526 | -€3,495 | -4.3% |
| Operating profit (loss) | 9901 | €60,351 | €56,604 | -€3,748 | -6.2% |
| Financial income | 75/76B | €224 | €1 | -€223 | -99.6% |
| Recurring financial income | 75 | €224 | €1 | -€223 | -99.6% |
| Financial charges | 65/66B | €12,586 | €11,161 | -€1,425 | -11.3% |
| Recurring financial charges | 65 | €12,586 | €11,161 | -€1,425 | -11.3% |
| Profit (loss) for the period before taxes | 9903 | €47,989 | €45,443 | -€2,546 | -5.3% |
| Income taxes | 67/77 | €13,254 | €12,548 | -€706 | -5.3% |
| Profit (loss) for the period | 9904 | €34,735 | €32,895 | -€1,840 | -5.3% |
| Profit (loss) for the period to be appropriated | 9905 | €34,735 | €32,895 | -€1,840 | -5.3% |
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 14 October 2026 via checked.be.