I.M.N.: 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.N.
Largest movements
- Receivables within one year +€39,731
up €39,731 (+535%), from €7,422 to €47,153
of which Trade receivables: +€36,336
- Deferred charges and accrued income -€38,077
down €38,077 (-94.7%), from €40,214 to €2,137
- Current investments +€18,988
up €18,988 (+7.9%), from €238,921 to €257,909
- Tangible fixed assets -€11,704
down €11,704 (-21.3%), from €55,039 to €43,336
of which Furniture and vehicles: -€9,885
- Cash +€4,265
up €4,265 (+19.0%), from €22,493 to €26,757
mainly Net result for the year (+€45,100) and Deferred charges and accrued income (+€38,077)
- Other debts +€36,991
new in 2025: €36,991
- Reserves -€25,808
down €25,808 (-8.4%), from €307,548 to €281,740
- Profit (loss) carried forward +€5,100
new in 2025: €5,100
- Financial income -€3,801
down €3,801 (-55.3%), from €6,876 to €3,075
- Gross operating margin -€2,672
down €2,672 (-3.3%), from €80,186 to €77,514
- Taxes -€2,312
down €2,312 (-9.9%), from €23,299 to €20,987
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 | €365,081 | €378,283 | +€13,202 | +3.6% |
| Fixed assets | 21/28 | €56,031 | €44,327 | -€11,704 | -20.9% |
| Tangible fixed assets | 22/27 | €55,039 | €43,336 | -€11,704 | -21.3% |
| Plant, machinery and equipment | 23 | €10,741 | €9,431 | -€1,310 | -12.2% |
| Furniture and vehicles | 24 | €40,615 | €30,730 | -€9,885 | -24.3% |
| Other tangible fixed assets | 26 | €3,683 | €3,175 | -€508 | -13.8% |
| Financial fixed assets | 28 | €992 | €992 | = | 0.0% |
| Current assets | 29/58 | €309,050 | €333,956 | +€24,906 | +8.1% |
| Amounts receivable within one year | 40/41 | €7,422 | €47,153 | +€39,731 | +535% |
| Trade receivables | 40 | - | €36,336 | +€36,336 | |
| Other amounts receivable | 41 | €7,422 | €10,816 | +€3,395 | +45.7% |
| Current investments | 50/53 | €238,921 | €257,909 | +€18,988 | +7.9% |
| Cash at bank and in hand | 54/58 | €22,493 | €26,757 | +€4,265 | +19.0% |
| Deferred charges and accrued income | 490/1 | €40,214 | €2,137 | -€38,077 | -94.7% |
| Total equity and liabilities | 10/49 | €365,081 | €378,283 | +€13,202 | +3.6% |
| Equity | 10/15 | €324,090 | €303,383 | -€20,707 | -6.4% |
| Contributions | 10/11 | €16,542 | €16,542 | = | 0.0% |
| Reserves | 13 | €307,548 | €281,740 | -€25,808 | -8.4% |
| Distributable reserves | 133 | €307,548 | €281,740 | -€25,808 | -8.4% |
| Profit (loss) carried forward | 14 | - | €5,100 | +€5,100 | |
| Amounts payable | 17/49 | €40,991 | €74,901 | +€33,910 | +82.7% |
| Amounts payable within one year | 42/48 | €15,451 | €50,748 | +€35,297 | +228% |
| Current portion of amounts payable after more than one year | 42 | €6,360 | €7,596 | +€1,236 | +19.4% |
| Trade debts | 44 | €2,324 | €2,297 | -€27 | -1.2% |
| Suppliers | 440/4 | €2,324 | €2,297 | -€27 | -1.2% |
| Taxes, remuneration and social security | 45 | €6,767 | €3,863 | -€2,904 | -42.9% |
| Taxes | 450/3 | €6,767 | €3,863 | -€2,904 | -42.9% |
| Other amounts payable | 47/48 | - | €36,991 | +€36,991 | |
| Accrued charges and deferred income | 492/3 | €25,540 | €24,153 | -€1,387 | -5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,377 | €12,898 | +€521 | +4.2% |
| Other operating charges | 640/8 | €882 | €322 | -€560 | -63.5% |
| Gross operating margin | 9900 | €80,186 | €77,514 | -€2,672 | -3.3% |
| Operating profit (loss) | 9901 | €66,927 | €64,294 | -€2,633 | -3.9% |
| Financial income | 75/76B | €6,876 | €3,075 | -€3,801 | -55.3% |
| Recurring financial income | 75 | €6,876 | €3,075 | -€3,801 | -55.3% |
| Financial charges | 65/66B | €1,165 | €1,281 | +€116 | +10.0% |
| Recurring financial charges | 65 | €1,165 | €1,281 | +€116 | +10.0% |
| Profit (loss) for the period before taxes | 9903 | €72,639 | €66,088 | -€6,551 | -9.0% |
| Income taxes | 67/77 | €23,299 | €20,987 | -€2,312 | -9.9% |
| Profit (loss) for the period | 9904 | €49,340 | €45,100 | -€4,239 | -8.6% |
| Profit (loss) for the period to be appropriated | 9905 | €49,340 | €45,100 | -€4,239 | -8.6% |
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 18 October 2026 via checked.be.