I.M.F.A.: what changed
What changed
I.M.F.A.
filed annual accounts (NBB)
Net result for the year
€2,394
2024 · -€2,220+€4,614
Equity
€96,368
2024 · €253,974-€157,606
Cash
€37,569
2024 · €70,734-€33,165
Balance sheet total
€102,211
2024 · €255,964-€153,753
Largest movements
Assets
- Receivables within one year -€120,588
down €120,588 (-100%), from €120,588 to €0
- Cash -€33,165
down €33,165 (-46.9%), from €70,734 to €37,569
mainly Contributions, distributions and other (-€160,000)
Equity and liabilities
- Profit (loss) carried forward -€157,606
down €157,606 (-96.4%), from €163,551 to €5,944
Income statement
- Gross operating margin +€3,876
up €3,876 (+53.8%), from -€7,207 to -€3,332
- Financial income +€803
up €803 (+14.8%), from €5,421 to €6,224
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€2,220
Gross operating margin
+€3,876
Other operating charges
+€5
Financial income
+€803
Financial charges
-€2
Taxes
-€68
Result 2025
€2,394
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€126,835
Investment
€0
Financing
-€160,000
Cash 2024
€70,734
From operations (derived)
+€126,835
Net result for the year
+€2,394
Receivables within one year
+€120,588
Trade debts
+€1,743
Tax, wage and social debts
+€68
Other debts
+€2,041
Financing
-€160,000
Contributions, distributions and other
-€160,000
Cash 2025
€37,569
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €255,964 | €102,211 | -€153,753 | -60.1% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €64,642 | €64,642 | = | 0.0% |
| Tangible fixed assets | 22/27 | €64,642 | €64,642 | = | 0.0% |
| Land and buildings | 22 | €64,642 | €64,642 | = | 0.0% |
| Current assets | 29/58 | €191,322 | €37,569 | -€153,753 | -80.4% |
| Amounts receivable within one year | 40/41 | €120,588 | €0 | -€120,588 | -100% |
| Other amounts receivable | 41 | €120,588 | €0 | -€120,588 | -100% |
| Cash at bank and in hand | 54/58 | €70,734 | €37,569 | -€33,165 | -46.9% |
| Total equity and liabilities | 10/49 | €255,964 | €102,211 | -€153,753 | -60.1% |
| Equity | 10/15 | €253,974 | €96,368 | -€157,606 | -62.1% |
| Contributions | 10/11 | €85,523 | €85,523 | = | 0.0% |
| Capital | 10 | €85,523 | €85,523 | = | 0.0% |
| Issued capital | 100 | €85,523 | €85,523 | = | 0.0% |
| Reserves | 13 | €4,900 | €4,900 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,900 | €4,900 | = | 0.0% |
| Legal reserve | 130 | €4,900 | €4,900 | = | 0.0% |
| Profit (loss) carried forward | 14 | €163,551 | €5,944 | -€157,606 | -96.4% |
| Amounts payable | 17/49 | €1,990 | €5,843 | +€3,853 | +194% |
| Amounts payable within one year | 42/48 | €1,990 | €5,843 | +€3,853 | +194% |
| Trade debts | 44 | €1,990 | €3,733 | +€1,743 | +87.6% |
| Suppliers | 440/4 | €1,990 | €3,733 | +€1,743 | +87.6% |
| Taxes, remuneration and social security | 45 | - | €68 | +€68 | |
| Taxes | 450/3 | - | €68 | +€68 | |
| Other amounts payable | 47/48 | - | €2,041 | +€2,041 | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Other operating charges | 640/8 | €405 | €400 | -€5 | -1.3% |
| Gross operating margin | 9900 | -€7,207 | -€3,332 | +€3,876 | +53.8% |
| Operating profit (loss) | 9901 | -€7,612 | -€3,731 | +€3,881 | +51.0% |
| Financial income | 75/76B | €5,421 | €6,224 | +€803 | +14.8% |
| Recurring financial income | 75 | €5,421 | €6,224 | +€803 | +14.8% |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,220 | €2,462 | +€4,682 | |
| Income taxes | 67/77 | - | €68 | +€68 | |
| Profit (loss) for the period | 9904 | -€2,220 | €2,394 | +€4,614 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,220 | €2,394 | +€4,614 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.