I MAGE: 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 MAGE
Largest movements
- Cash +€696,705
up €696,705 (+1,140%), from €61,117 to €757,822
mainly Investment in fixed assets (net) (+€462,431) and Net result for the year (+€312,264)
- Tangible fixed assets -€462,431
no longer reported in 2025 (was €462,431)
of which Land and buildings: -€448,628
- Receivables within one year +€43,014
up €43,014 (+34.3%), from €125,528 to €168,542
of which Other amounts receivable: +€42,764
- Reserves +€290,000
up €290,000 (+489%), from €59,300 to €349,300
- Other debts -€146,100
down €146,100 (-99.4%), from €146,929 to €829
- Profit (loss) carried forward +€62,865
up €62,865, from -€54,761 to €8,104
- Tax, wage and social debts +€60,981
new in 2025: €60,981
- Trade debts +€9,542
up €9,542 (+238%), from €4,008 to €13,550
- Gross operating margin +€247,051
up €247,051 (+147%), from €167,861 to €414,912
- Depreciation -€38,007
no longer reported in 2025 (was €38,007)
- Taxes -€22,397
down €22,397 (-18.2%), from €122,891 to €100,493
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 | €649,076 | €926,364 | +€277,287 | +42.7% |
| Fixed assets | 21/28 | €462,431 | - | -€462,431 | |
| Tangible fixed assets | 22/27 | €462,431 | - | -€462,431 | |
| Land and buildings | 22 | €448,628 | - | -€448,628 | |
| Other tangible fixed assets | 26 | €13,803 | - | -€13,803 | |
| Current assets | 29/58 | €186,645 | €926,364 | +€739,718 | +396% |
| Amounts receivable within one year | 40/41 | €125,528 | €168,542 | +€43,014 | +34.3% |
| Trade receivables | 40 | - | €250 | +€250 | |
| Other amounts receivable | 41 | €125,528 | €168,292 | +€42,764 | +34.1% |
| Cash at bank and in hand | 54/58 | €61,117 | €757,822 | +€696,705 | +1,140% |
| Total equity and liabilities | 10/49 | €649,076 | €926,364 | +€277,287 | +42.7% |
| Equity | 10/15 | €498,139 | €851,004 | +€352,865 | +70.8% |
| Contributions | 10/11 | €493,600 | €493,600 | = | 0.0% |
| Capital | 10 | €493,600 | €493,600 | = | 0.0% |
| Issued capital | 100 | €493,600 | €493,600 | = | 0.0% |
| Reserves | 13 | €59,300 | €349,300 | +€290,000 | +489% |
| Non-distributable reserves | 130/1 | €59,300 | €349,300 | +€290,000 | +489% |
| Legal reserve | 130 | €59,300 | €349,300 | +€290,000 | +489% |
| Profit (loss) carried forward | 14 | -€54,761 | €8,104 | +€62,865 | |
| Amounts payable | 17/49 | €150,937 | €75,360 | -€75,577 | -50.1% |
| Amounts payable within one year | 42/48 | €150,937 | €75,360 | -€75,577 | -50.1% |
| Trade debts | 44 | €4,008 | €13,550 | +€9,542 | +238% |
| Suppliers | 440/4 | €4,008 | €13,550 | +€9,542 | +238% |
| Taxes, remuneration and social security | 45 | - | €60,981 | +€60,981 | |
| Taxes | 450/3 | - | €60,981 | +€60,981 | |
| Other amounts payable | 47/48 | €146,929 | €829 | -€146,100 | -99.4% |
| Non-recurring operating income | 76A | €186,603 | €470,589 | +€283,985 | +152% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,007 | - | -€38,007 | |
| Other operating charges | 640/8 | €3,452 | €1,890 | -€1,561 | -45.2% |
| Non-recurring operating charges | 66A | €21,612 | - | -€21,612 | |
| Gross operating margin | 9900 | €167,861 | €414,912 | +€247,051 | +147% |
| Operating profit (loss) | 9901 | €104,790 | €413,022 | +€308,232 | +294% |
| Financial income | 75/76B | €103 | - | -€103 | |
| Recurring financial income | 75 | €103 | - | -€103 | |
| Financial charges | 65/66B | €418 | €264 | -€154 | -36.8% |
| Recurring financial charges | 65 | €418 | €264 | -€154 | -36.8% |
| Profit (loss) for the period before taxes | 9903 | €104,475 | €412,757 | +€308,282 | +295% |
| Transfer from deferred taxes | 780 | €159,501 | - | -€159,501 | |
| Income taxes | 67/77 | €122,891 | €100,493 | -€22,397 | -18.2% |
| Profit (loss) for the period | 9904 | €141,085 | €312,264 | +€171,179 | +121% |
| Transfer from tax-exempt reserves | 789 | €304,114 | - | -€304,114 | |
| Profit (loss) for the period to be appropriated | 9905 | €445,199 | €312,264 | -€132,935 | -29.9% |
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 17 October 2026 via checked.be.