Pierre Impens: 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.
Pierre Impens
Largest movements
- Tangible fixed assets -€115,258
down €115,258 (-11.2%), from €1.0m to €915,239
of which Furniture and vehicles: -€83,223
- Cash +€70,895
up €70,895 (+29.3%), from €241,566 to €312,461
mainly Depreciation (+€115,258) and Net result for the year (+€67,941)
- Receivables within one year -€53,594
down €53,594 (-18.3%), from €292,654 to €239,060
of which Trade receivables: -€43,594
- Stocks and contracts +€48,226
up €48,226 (+12.9%), from €372,546 to €420,772
- Debts after one year -€116,224
down €116,224 (-21.4%), from €543,714 to €427,489
- Reserves +€67,941
up €67,941 (+8.1%), from €835,869 to €903,811
of which Distributable reserves: +€67,941
- Trade debts -€22,293
down €22,293 (-37.2%), from €59,896 to €37,604
- Tax, wage and social debts +€21,306
up €21,306 (+80.0%), from €26,635 to €47,942
of which Taxes: +€17,487
- Gross operating margin +€30,998
up €30,998 (+10.8%), from €286,637 to €317,635
- Write-downs -€10,388
down €10,388 (-89.1%), from €11,658 to €1,270
- Staff costs +€9,334
up €9,334 (+11.2%), from €83,137 to €92,471
- Depreciation +€8,541
up €8,541 (+8.0%), from €106,717 to €115,258
- Taxes +€7,620
up €7,620 (+76.1%), from €10,010 to €17,630
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 | €1,939,963 | €1,889,408 | -€50,556 | -2.6% |
| Fixed assets | 21/28 | €1,033,198 | €917,114 | -€116,083 | -11.2% |
| Tangible fixed assets | 22/27 | €1,030,498 | €915,239 | -€115,258 | -11.2% |
| Land and buildings | 22 | €860,856 | €829,361 | -€31,495 | -3.7% |
| Plant, machinery and equipment | 23 | €1,031 | €491 | -€540 | -52.4% |
| Furniture and vehicles | 24 | €168,610 | €85,387 | -€83,223 | -49.4% |
| Financial fixed assets | 28 | €2,700 | €1,875 | -€825 | -30.6% |
| Current assets | 29/58 | €906,766 | €972,293 | +€65,527 | +7.2% |
| Stocks and contracts in progress | 3 | €372,546 | €420,772 | +€48,226 | +12.9% |
| Stocks | 30/36 | €372,546 | €420,772 | +€48,226 | +12.9% |
| Amounts receivable within one year | 40/41 | €292,654 | €239,060 | -€53,594 | -18.3% |
| Trade receivables | 40 | €282,654 | €239,060 | -€43,594 | -15.4% |
| Other amounts receivable | 41 | €10,000 | €0 | -€10,000 | -100% |
| Cash at bank and in hand | 54/58 | €241,566 | €312,461 | +€70,895 | +29.3% |
| Total equity and liabilities | 10/49 | €1,939,963 | €1,889,408 | -€50,556 | -2.6% |
| Equity | 10/15 | €897,869 | €965,811 | +€67,941 | +7.6% |
| 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 | €835,869 | €903,811 | +€67,941 | +8.1% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €30,427 | €30,427 | = | 0.0% |
| Distributable reserves | 133 | €799,242 | €867,184 | +€67,941 | +8.5% |
| Provisions and deferred taxes | 16 | €0 | - | = | |
| Deferred taxes | 168 | €0 | - | = | |
| Amounts payable | 17/49 | €1,042,094 | €923,597 | -€118,497 | -11.4% |
| Amounts payable after more than one year | 17 | €543,714 | €427,489 | -€116,224 | -21.4% |
| Financial debts | 170/4 | €543,714 | €427,489 | -€116,224 | -21.4% |
| Amounts payable within one year | 42/48 | €498,380 | €496,108 | -€2,272 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €114,720 | €116,224 | +€1,504 | +1.3% |
| Trade debts | 44 | €59,896 | €37,604 | -€22,293 | -37.2% |
| Suppliers | 440/4 | €59,896 | €37,604 | -€22,293 | -37.2% |
| Taxes, remuneration and social security | 45 | €26,635 | €47,942 | +€21,306 | +80.0% |
| Taxes | 450/3 | €21,910 | €39,397 | +€17,487 | +79.8% |
| Remuneration and social security | 454/9 | €4,725 | €8,545 | +€3,820 | +80.8% |
| Other amounts payable | 47/48 | €297,128 | €294,338 | -€2,790 | -0.9% |
| Non-recurring operating income | 76A | €1,983 | €2,465 | +€481 | +24.3% |
| Remuneration, social security and pensions | 62 | €83,137 | €92,471 | +€9,334 | +11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €106,717 | €115,258 | +€8,541 | +8.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,658 | €1,270 | -€10,388 | -89.1% |
| Other operating charges | 640/8 | €10,930 | €14,990 | +€4,060 | +37.1% |
| Gross operating margin | 9900 | €286,637 | €317,635 | +€30,998 | +10.8% |
| Operating profit (loss) | 9901 | €74,194 | €93,646 | +€19,452 | +26.2% |
| Financial income | 75/76B | €14,435 | €18,729 | +€4,295 | +29.8% |
| Recurring financial income | 75 | €14,435 | €18,729 | +€4,295 | +29.8% |
| Financial charges | 65/66B | €27,870 | €26,804 | -€1,066 | -3.8% |
| Recurring financial charges | 65 | €27,689 | €26,804 | -€885 | -3.2% |
| Non-recurring financial charges | 66B | €181 | €0 | -€181 | -100% |
| Profit (loss) for the period before taxes | 9903 | €60,759 | €85,571 | +€24,812 | +40.8% |
| Transfer from deferred taxes | 780 | €30 | €0 | -€30 | -100% |
| Income taxes | 67/77 | €10,010 | €17,630 | +€7,620 | +76.1% |
| Profit (loss) for the period | 9904 | €50,778 | €67,941 | +€17,163 | +33.8% |
| Transfer from tax-exempt reserves | 789 | €120 | €0 | -€120 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €50,898 | €67,941 | +€17,043 | +33.5% |
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 16 October 2026 via checked.be.