I.M.D.B.: 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.
I.M.D.B.
Largest movements
- Receivables within one year +€394,984
up €394,984 (+63.9%), from €618,297 to €1.0m
of which Other amounts receivable: +€386,489
- Receivables after one year -€182,000
down €182,000 (-27.6%), from €658,500 to €476,500
- Reserves +€227,227
up €227,227 (+18.6%), from €1.2m to €1.4m
of which Distributable reserves: +€218,807
- Accrued charges and deferred income -€115,880
no longer reported in 2025 (was €115,880)
- Debts after one year +€31,166
up €31,166 (+14.9%), from €208,910 to €240,076
of which Other amounts payable: +€42,000
- Trade debts +€23,945
up €23,945 (+12,472%), from €192 to €24,137
- Financial charges -€29,936
down €29,936 (-65.6%), from €45,606 to €15,670
- Financial income +€21,469
up €21,469 (+115%), from €18,629 to €40,098
- Gross operating margin -€12,799
down €12,799 (-4.3%), from €296,417 to €283,618
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 | €1,778,741 | €1,972,750 | +€194,009 | +10.9% |
| Fixed assets | 21/28 | €426,561 | €419,831 | -€6,730 | -1.6% |
| Tangible fixed assets | 22/27 | €126,561 | €119,831 | -€6,730 | -5.3% |
| Land and buildings | 22 | €124,249 | €118,414 | -€5,835 | -4.7% |
| Furniture and vehicles | 24 | €2,312 | €1,417 | -€895 | -38.7% |
| Financial fixed assets | 28 | €300,000 | €300,000 | = | 0.0% |
| Current assets | 29/58 | €1,352,180 | €1,552,918 | +€200,738 | +14.8% |
| Amounts receivable after more than one year | 29 | €658,500 | €476,500 | -€182,000 | -27.6% |
| Other amounts receivable | 291 | €658,500 | €476,500 | -€182,000 | -27.6% |
| Amounts receivable within one year | 40/41 | €618,297 | €1,013,281 | +€394,984 | +63.9% |
| Trade receivables | 40 | €2,908 | €11,403 | +€8,495 | +292% |
| Other amounts receivable | 41 | €615,388 | €1,001,878 | +€386,489 | +62.8% |
| Cash at bank and in hand | 54/58 | €75,383 | €63,137 | -€12,246 | -16.2% |
| Total equity and liabilities | 10/49 | €1,778,741 | €1,972,750 | +€194,009 | +10.9% |
| Equity | 10/15 | €1,348,209 | €1,575,436 | +€227,227 | +16.9% |
| Contributions | 10/11 | €128,500 | €128,500 | = | 0.0% |
| Reserves | 13 | €1,219,709 | €1,446,936 | +€227,227 | +18.6% |
| Non-distributable reserves | 130/1 | €12,850 | €12,850 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,850 | €12,850 | = | 0.0% |
| Tax-exempt reserves | 132 | €298,910 | €307,330 | +€8,420 | +2.8% |
| Distributable reserves | 133 | €907,949 | €1,126,756 | +€218,807 | +24.1% |
| Provisions and deferred taxes | 16 | €30,000 | €30,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €30,000 | €30,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €30,000 | €30,000 | = | 0.0% |
| Amounts payable | 17/49 | €400,532 | €367,314 | -€33,218 | -8.3% |
| Amounts payable after more than one year | 17 | €208,910 | €240,076 | +€31,166 | +14.9% |
| Financial debts | 170/4 | €50,910 | €40,076 | -€10,834 | -21.3% |
| Other amounts payable | 178/9 | €158,000 | €200,000 | +€42,000 | +26.6% |
| Amounts payable within one year | 42/48 | €75,742 | €127,238 | +€51,496 | +68.0% |
| Current portion of amounts payable after more than one year | 42 | €10,571 | €10,834 | +€262 | +2.5% |
| Trade debts | 44 | €192 | €24,137 | +€23,945 | +12,472% |
| Suppliers | 440/4 | €192 | €24,137 | +€23,945 | +12,472% |
| Taxes, remuneration and social security | 45 | €49,657 | €57,459 | +€7,802 | +15.7% |
| Taxes | 450/3 | €49,657 | €57,459 | +€7,802 | +15.7% |
| Other amounts payable | 47/48 | €15,322 | €34,808 | +€19,486 | +127% |
| Accrued charges and deferred income | 492/3 | €115,880 | - | -€115,880 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,208 | €6,730 | +€522 | +8.4% |
| Other operating charges | 640/8 | €521 | €3,389 | +€2,868 | +550% |
| Gross operating margin | 9900 | €296,417 | €283,618 | -€12,799 | -4.3% |
| Operating profit (loss) | 9901 | €289,689 | €273,499 | -€16,189 | -5.6% |
| Financial income | 75/76B | €18,629 | €40,098 | +€21,469 | +115% |
| Recurring financial income | 75 | €18,629 | €40,098 | +€21,469 | +115% |
| Financial charges | 65/66B | €45,606 | €15,670 | -€29,936 | -65.6% |
| Recurring financial charges | 65 | €45,606 | €15,670 | -€29,936 | -65.6% |
| Profit (loss) for the period before taxes | 9903 | €262,711 | €297,927 | +€35,216 | +13.4% |
| Income taxes | 67/77 | €72,154 | €70,700 | -€1,454 | -2.0% |
| Profit (loss) for the period | 9904 | €190,557 | €227,227 | +€36,670 | +19.2% |
| Transfer to tax-exempt reserves | 689 | €84,200 | €96,830 | +€12,630 | +15.0% |
| Profit (loss) for the period to be appropriated | 9905 | €106,357 | €130,397 | +€24,040 | +22.6% |
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 31 October 2026 via checked.be.