I'M: 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.
I'M
Largest movements
- Cash -€117,135
down €117,135 (-33.3%), from €352,194 to €235,059
mainly Receivables within one year (-€116,882) and Debts after one year (-€49,481)
- Receivables within one year +€116,882
up €116,882 (+87.6%), from €133,422 to €250,305
of which Other amounts receivable: +€183,336
- Current investments -€100,000
no longer reported in 2025 (was €100,000)
- Tangible fixed assets -€34,331
down €34,331 (-12.4%), from €276,555 to €242,223
of which Furniture and vehicles: -€27,422
- Financial fixed assets +€20,000
up €20,000 (+3.9%), from €515,863 to €535,863
- Debts after one year -€49,481
down €49,481 (-5.2%), from €955,360 to €905,879
of which Financial debts: -€43,779
- Other debts -€34,200
down €34,200 (-32.6%), from €104,800 to €70,600
- Current portion of long-term debt -€31,035
down €31,035 (-41.5%), from €74,813 to €43,779
- Reserves +€29,811
up €29,811 (+18.0%), from €165,180 to €194,990
- Trade debts -€17,556
down €17,556 (-97.9%), from €17,925 to €369
- Gross operating margin -€22,729
down €22,729 (-23.9%), from €95,077 to €72,348
- Depreciation -€12,927
down €12,927 (-45.5%), from €28,387 to €15,459
- Financial charges +€1,462
up €1,462 (+12.2%), from €11,980 to €13,442
- Financial income +€1,305
up €1,305 (+74.9%), from €1,742 to €3,047
- Taxes -€1,086
down €1,086 (-8.5%), from €12,796 to €11,711
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,379,431 | €1,264,919 | -€114,512 | -8.3% |
| Fixed assets | 21/28 | €792,418 | €778,087 | -€14,331 | -1.8% |
| Tangible fixed assets | 22/27 | €276,555 | €242,223 | -€34,331 | -12.4% |
| Land and buildings | 22 | €243,545 | €236,636 | -€6,909 | -2.8% |
| Furniture and vehicles | 24 | €33,009 | €5,587 | -€27,422 | -83.1% |
| Financial fixed assets | 28 | €515,863 | €535,863 | +€20,000 | +3.9% |
| Current assets | 29/58 | €587,013 | €486,833 | -€100,181 | -17.1% |
| Amounts receivable within one year | 40/41 | €133,422 | €250,305 | +€116,882 | +87.6% |
| Trade receivables | 40 | €93,526 | €27,072 | -€66,454 | -71.1% |
| Other amounts receivable | 41 | €39,896 | €223,233 | +€183,336 | +459.5% |
| Current investments | 50/53 | €100,000 | - | -€100,000 | |
| Cash at bank and in hand | 54/58 | €352,194 | €235,059 | -€117,135 | -33.3% |
| Deferred charges and accrued income | 490/1 | €1,397 | €1,469 | +€72 | +5.2% |
| Total equity and liabilities | 10/49 | €1,379,431 | €1,264,919 | -€114,512 | -8.3% |
| Equity | 10/15 | €183,780 | €213,590 | +€29,811 | +16.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €165,180 | €194,990 | +€29,811 | +18.0% |
| Distributable reserves | 133 | €165,180 | €194,990 | +€29,811 | +18.0% |
| Amounts payable | 17/49 | €1,195,652 | €1,051,329 | -€144,323 | -12.1% |
| Amounts payable after more than one year | 17 | €955,360 | €905,879 | -€49,481 | -5.2% |
| Financial debts | 170/4 | €351,051 | €307,272 | -€43,779 | -12.5% |
| Other amounts payable | 178/9 | €604,309 | €598,607 | -€5,702 | -0.9% |
| Amounts payable within one year | 42/48 | €238,287 | €143,444 | -€94,842 | -39.8% |
| Current portion of amounts payable after more than one year | 42 | €74,813 | €43,779 | -€31,035 | -41.5% |
| Financial debts | 43 | €28,022 | €21,031 | -€6,991 | -24.9% |
| Credit institutions | 430/8 | €28,022 | €21,031 | -€6,991 | -24.9% |
| Trade debts | 44 | €17,925 | €369 | -€17,556 | -97.9% |
| Suppliers | 440/4 | €17,925 | €369 | -€17,556 | -97.9% |
| Taxes, remuneration and social security | 45 | €12,726 | €7,666 | -€5,060 | -39.8% |
| Taxes | 450/3 | €12,726 | €7,666 | -€5,060 | -39.8% |
| Other amounts payable | 47/48 | €104,800 | €70,600 | -€34,200 | -32.6% |
| Accrued charges and deferred income | 492/3 | €2,005 | €2,005 | = | 0.0% |
| Non-recurring operating income | 76A | - | €3,346 | +€3,346 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,387 | €15,459 | -€12,927 | -45.5% |
| Other operating charges | 640/8 | €1,788 | €1,844 | +€56 | +3.1% |
| Non-recurring operating charges | 66A | €9,009 | €3,127 | -€5,882 | -65.3% |
| Gross operating margin | 9900 | €95,077 | €72,348 | -€22,729 | -23.9% |
| Operating profit (loss) | 9901 | €55,893 | €51,917 | -€3,976 | -7.1% |
| Financial income | 75/76B | €1,742 | €3,047 | +€1,305 | +74.9% |
| Recurring financial income | 75 | €1,742 | €3,047 | +€1,305 | +74.9% |
| Financial charges | 65/66B | €11,980 | €13,442 | +€1,462 | +12.2% |
| Recurring financial charges | 65 | €11,980 | €13,442 | +€1,462 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €45,655 | €41,522 | -€4,133 | -9.1% |
| Income taxes | 67/77 | €12,796 | €11,711 | -€1,086 | -8.5% |
| Profit (loss) for the period | 9904 | €32,859 | €29,811 | -€3,048 | -9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,859 | €29,811 | -€3,048 | -9.3% |
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.