IMPROMAT: 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.
IMPROMAT
Largest movements
- Cash -€535,268
down €535,268 (-55.8%), from €960,079 to €424,811
mainly Current investments (-€508,093) and Stocks and contracts (-€317,500)
- Current investments +€508,093
up €508,093 (+137%), from €371,865 to €879,958
- Stocks and contracts +€317,500
up €317,500 (+289%), from €110,000 to €427,500
- Receivables within one year +€269,946
up €269,946 (+259%), from €104,238 to €374,184
of which Trade receivables: +€149,171
- Tangible fixed assets +€54,826
up €54,826 (+7.5%), from €727,240 to €782,065
of which Furniture and vehicles: +€95,605
- Advances received +€415,154
up €415,154 (+509%), from €81,576 to €496,730
- Reserves +€210,584
up €210,584 (+10.5%), from €2.0m to €2.2m
- Gross operating margin -€366,370
down €366,370 (-36.5%), from €1.0m to €637,050
- Taxes -€70,277
down €70,277 (-35.6%), from €197,536 to €127,259
- Financial income +€15,538
up €15,538 (+139%), from €11,161 to €26,699
of which Non-recurring financial income: +€11,557
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,300,160 | €2,915,558 | +€615,397 | +26.8% |
| Fixed assets | 21/28 | €731,814 | €785,652 | +€53,838 | +7.4% |
| Intangible fixed assets | 21 | €4,575 | €3,587 | -€988 | -21.6% |
| Tangible fixed assets | 22/27 | €727,240 | €782,065 | +€54,826 | +7.5% |
| Land and buildings | 22 | €643,802 | €619,213 | -€24,589 | -3.8% |
| Plant, machinery and equipment | 23 | €44,633 | €28,443 | -€16,190 | -36.3% |
| Furniture and vehicles | 24 | €38,805 | €134,410 | +€95,605 | +246% |
| Current assets | 29/58 | €1,568,346 | €2,129,906 | +€561,560 | +35.8% |
| Stocks and contracts in progress | 3 | €110,000 | €427,500 | +€317,500 | +289% |
| Stocks | 30/36 | €110,000 | €427,500 | +€317,500 | +289% |
| Amounts receivable within one year | 40/41 | €104,238 | €374,184 | +€269,946 | +259% |
| Trade receivables | 40 | €81,551 | €230,722 | +€149,171 | +183% |
| Other amounts receivable | 41 | €22,687 | €143,462 | +€120,775 | +532% |
| Current investments | 50/53 | €371,865 | €879,958 | +€508,093 | +137% |
| Cash at bank and in hand | 54/58 | €960,079 | €424,811 | -€535,268 | -55.8% |
| Deferred charges and accrued income | 490/1 | €22,164 | €23,453 | +€1,288 | +5.8% |
| Total equity and liabilities | 10/49 | €2,300,160 | €2,915,558 | +€615,397 | +26.8% |
| Equity | 10/15 | €2,022,836 | €2,233,420 | +€210,584 | +10.4% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,002,836 | €2,213,420 | +€210,584 | +10.5% |
| Distributable reserves | 133 | €2,002,836 | €2,213,420 | +€210,584 | +10.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €277,324 | €682,138 | +€404,814 | +146% |
| Amounts payable within one year | 42/48 | €275,140 | €681,416 | +€406,276 | +148% |
| Financial debts | 43 | €7,126 | €1,252 | -€5,874 | -82.4% |
| Credit institutions | 430/8 | €7,126 | €1,252 | -€5,874 | -82.4% |
| Trade debts | 44 | €90,649 | €72,507 | -€18,142 | -20.0% |
| Suppliers | 440/4 | €90,649 | €72,507 | -€18,142 | -20.0% |
| Advances received on contracts in progress | 46 | €81,576 | €496,730 | +€415,154 | +509% |
| Taxes, remuneration and social security | 45 | €95,789 | €110,927 | +€15,138 | +15.8% |
| Taxes | 450/3 | €71,996 | €83,407 | +€11,411 | +15.8% |
| Remuneration and social security | 454/9 | €23,793 | €27,520 | +€3,727 | +15.7% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €2,184 | €722 | -€1,462 | -66.9% |
| Remuneration, social security and pensions | 62 | €133,393 | €139,813 | +€6,420 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €94,350 | €97,220 | +€2,870 | +3.0% |
| Other operating charges | 640/8 | €12,257 | €12,987 | +€729 | +5.9% |
| Gross operating margin | 9900 | €1,003,421 | €637,050 | -€366,370 | -36.5% |
| Operating profit (loss) | 9901 | €763,420 | €387,031 | -€376,390 | -49.3% |
| Financial income | 75/76B | €11,161 | €26,699 | +€15,538 | +139% |
| Recurring financial income | 75 | €11,161 | €15,142 | +€3,981 | +35.7% |
| Non-recurring financial income | 76B | - | €11,557 | +€11,557 | |
| Financial charges | 65/66B | €235 | €1,845 | +€1,609 | +684% |
| Recurring financial charges | 65 | €235 | €1,845 | +€1,609 | +684% |
| Profit (loss) for the period before taxes | 9903 | €774,347 | €411,885 | -€362,461 | -46.8% |
| Income taxes | 67/77 | €197,536 | €127,259 | -€70,277 | -35.6% |
| Profit (loss) for the period | 9904 | €576,810 | €284,626 | -€292,184 | -50.7% |
| Profit (loss) for the period to be appropriated | 9905 | €576,810 | €284,626 | -€292,184 | -50.7% |
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 25 October 2026 via checked.be.