I.M.D construct: 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 construct
Largest movements
- Receivables within one year +€25,471
up €25,471 (+148%), from €17,200 to €42,671
of which Other amounts receivable: +€21,951
- Cash -€2,692
down €2,692 (-34.8%), from €7,734 to €5,042
mainly Receivables within one year (-€25,471)
- Reserves +€16,397
up €16,397 (+92.0%), from €17,830 to €34,227
- Tax, wage and social debts +€4,378
up €4,378 (+95.1%), from €4,604 to €8,982
- Trade debts +€1,541
up €1,541 (+2,093%), from €74 to €1,615
- Gross operating margin -€2,026
down €2,026 (-8.9%), from €22,748 to €20,722
- Financial income +€926
up €926 (+176%), from €525 to €1,451
- Financial charges +€691
up €691 (+738%), from €94 to €785
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 | €25,007 | €47,785 | +€22,778 | +91.1% |
| Current assets | 29/58 | €25,007 | €47,785 | +€22,778 | +91.1% |
| Amounts receivable within one year | 40/41 | €17,200 | €42,671 | +€25,471 | +148% |
| Trade receivables | 40 | €960 | €4,481 | +€3,521 | +367% |
| Other amounts receivable | 41 | €16,240 | €38,190 | +€21,951 | +135% |
| Cash at bank and in hand | 54/58 | €7,734 | €5,042 | -€2,692 | -34.8% |
| Deferred charges and accrued income | 490/1 | €74 | €73 | -€1 | -1.5% |
| Total equity and liabilities | 10/49 | €25,007 | €47,785 | +€22,778 | +91.1% |
| Equity | 10/15 | €20,330 | €36,727 | +€16,397 | +80.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €17,830 | €34,227 | +€16,397 | +92.0% |
| Distributable reserves | 133 | €17,830 | €34,227 | +€16,397 | +92.0% |
| Amounts payable | 17/49 | €4,677 | €11,058 | +€6,381 | +136% |
| Amounts payable within one year | 42/48 | €4,677 | €10,597 | +€5,919 | +127% |
| Trade debts | 44 | €74 | €1,615 | +€1,541 | +2,093% |
| Suppliers | 440/4 | €74 | €1,615 | +€1,541 | +2,093% |
| Taxes, remuneration and social security | 45 | €4,604 | €8,982 | +€4,378 | +95.1% |
| Taxes | 450/3 | €4,604 | €8,982 | +€4,378 | +95.1% |
| Accrued charges and deferred income | 492/3 | - | €462 | +€462 | |
| Other operating charges | 640/8 | €746 | €612 | -€133 | -17.9% |
| Gross operating margin | 9900 | €22,748 | €20,722 | -€2,026 | -8.9% |
| Operating profit (loss) | 9901 | €22,002 | €20,109 | -€1,893 | -8.6% |
| Financial income | 75/76B | €525 | €1,451 | +€926 | +176% |
| Recurring financial income | 75 | €525 | €1,451 | +€926 | +176% |
| Financial charges | 65/66B | €94 | €785 | +€691 | +738% |
| Recurring financial charges | 65 | €94 | €785 | +€691 | +738% |
| Profit (loss) for the period before taxes | 9903 | €22,434 | €20,775 | -€1,658 | -7.4% |
| Income taxes | 67/77 | €4,604 | €4,378 | -€226 | -4.9% |
| Profit (loss) for the period | 9904 | €17,830 | €16,397 | -€1,433 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €17,830 | €16,397 | -€1,433 | -8.0% |
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.