IMPULSE 26: 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.
IMPULSE 26
Largest movements
- Stocks and contracts -€98,568
down €98,568 (-20.6%), from €477,784 to €379,217
- Cash -€10,985
down €10,985 (-36.5%), from €30,082 to €19,097
mainly Debts after one year (-€100,000) and Trade debts (-€27,613)
- Debts after one year -€100,000
down €100,000 (-22.3%), from €447,500 to €347,500
of which Financial debts: -€100,000
- Trade debts -€27,613
down €27,613 (-21.8%), from €126,700 to €99,086
- Tax, wage and social debts -€25,015
down €25,015 (-46.3%), from €53,983 to €28,969
of which Taxes: -€19,297
- Current portion of long-term debt +€25,000
new in 2026: €25,000
- Profit (loss) carried forward +€22,751
up €22,751 (+7.8%), from -€291,077 to -€268,326
- Write-downs -€135,086
down €135,086, from €107,309 to -€27,776
- Gross operating margin -€29,354
down €29,354 (-16.1%), from €182,008 to €152,654
- Financial charges -€13,609
down €13,609 (-44.6%), from €30,526 to €16,917
- Other operating charges +€6,041
up €6,041 (+234.2%), from €2,580 to €8,621
- Staff costs -€4,362
down €4,362 (-3.2%), from €136,208 to €131,846
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €519,153 | €414,229 | -€104,925 | -20.2% |
| Fixed assets | 21/28 | €6,835 | €8,794 | +€1,959 | +28.7% |
| Tangible fixed assets | 22/27 | €4,726 | €6,685 | +€1,959 | +41.4% |
| Furniture and vehicles | 24 | €3,455 | €2,725 | -€730 | -21.1% |
| Other tangible fixed assets | 26 | €1,271 | €3,960 | +€2,689 | +211.5% |
| Financial fixed assets | 28 | €2,109 | €2,109 | = | 0.0% |
| Current assets | 29/58 | €512,318 | €405,434 | -€106,884 | -20.9% |
| Stocks and contracts in progress | 3 | €477,784 | €379,217 | -€98,568 | -20.6% |
| Stocks | 30/36 | €477,784 | €379,217 | -€98,568 | -20.6% |
| Amounts receivable within one year | 40/41 | €951 | €3,621 | +€2,669 | +280.6% |
| Trade receivables | 40 | €420 | €2,043 | +€1,623 | +386.4% |
| Other amounts receivable | 41 | €531 | €1,578 | +€1,046 | +196.9% |
| Cash at bank and in hand | 54/58 | €30,082 | €19,097 | -€10,985 | -36.5% |
| Deferred charges and accrued income | 490/1 | €3,500 | €3,500 | = | 0.0% |
| Total equity and liabilities | 10/49 | €519,153 | €414,229 | -€104,925 | -20.2% |
| Equity | 10/15 | -€128,577 | -€105,826 | +€22,751 | +17.7% |
| Contributions | 10/11 | €162,500 | €162,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€291,077 | -€268,326 | +€22,751 | +7.8% |
| Amounts payable | 17/49 | €647,730 | €520,055 | -€127,675 | -19.7% |
| Amounts payable after more than one year | 17 | €447,500 | €347,500 | -€100,000 | -22.3% |
| Financial debts | 170/4 | €285,000 | €185,000 | -€100,000 | -35.1% |
| Other amounts payable | 178/9 | €162,500 | €162,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €180,730 | €153,055 | -€27,675 | -15.3% |
| Current portion of amounts payable after more than one year | 42 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €126,700 | €99,086 | -€27,613 | -21.8% |
| Suppliers | 440/4 | €126,700 | €99,086 | -€27,613 | -21.8% |
| Taxes, remuneration and social security | 45 | €53,983 | €28,969 | -€25,015 | -46.3% |
| Taxes | 450/3 | €35,466 | €16,169 | -€19,297 | -54.4% |
| Remuneration and social security | 454/9 | €18,517 | €12,799 | -€5,718 | -30.9% |
| Other amounts payable | 47/48 | €48 | - | -€48 | |
| Accrued charges and deferred income | 492/3 | €19,500 | €19,500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €136,208 | €131,846 | -€4,362 | -3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €831 | €1,366 | +€535 | +64.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €107,309 | -€27,776 | -€135,086 | |
| Other operating charges | 640/8 | €2,580 | €8,621 | +€6,041 | +234.2% |
| Gross operating margin | 9900 | €182,008 | €152,654 | -€29,354 | -16.1% |
| Operating profit (loss) | 9901 | -€64,920 | €38,598 | +€103,517 | |
| Financial income | 75/76B | €1 | €1,386 | +€1,385 | +192366.7% |
| Recurring financial income | 75 | €1 | €1,386 | +€1,385 | +192366.7% |
| Financial charges | 65/66B | €30,526 | €16,917 | -€13,609 | -44.6% |
| Recurring financial charges | 65 | €30,526 | €16,917 | -€13,609 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | -€95,445 | €23,067 | +€118,511 | |
| Income taxes | 67/77 | - | €316 | +€316 | |
| Profit (loss) for the period | 9904 | -€95,445 | €22,751 | +€118,195 | |
| Profit (loss) for the period to be appropriated | 9905 | -€95,445 | €22,751 | +€118,195 |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.