IM Administration: 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.
IM Administration
Largest movements
- Cash +€72,705
up €72,705 (+68.9%), from €105,447 to €178,152
mainly Net result for the year (+€49,843) and Tax, wage and social debts (+€10,545)
- Receivables within one year -€2,569
down €2,569 (-21.4%), from €12,006 to €9,437
- Reserves +€49,843
up €49,843 (+63.7%), from €78,195 to €128,039
- Tax, wage and social debts +€10,545
up €10,545 (+29.0%), from €36,348 to €46,893
- Trade debts +€6,547
up €6,547 (+541.1%), from €1,210 to €7,757
- Other debts +€3,200
up €3,200 (+200.0%), from €1,600 to €4,800
- Gross operating margin -€5,649
down €5,649 (-7.4%), from €75,849 to €70,200
- Taxes -€776
down €776 (-3.7%), from €20,861 to €20,085
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.
Cash bridge derived
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 | €117,453 | €187,589 | +€70,136 | +59.7% |
| Formation expenses | 20 | €0 | - | = | |
| Current assets | 29/58 | €117,453 | €187,589 | +€70,136 | +59.7% |
| Amounts receivable within one year | 40/41 | €12,006 | €9,437 | -€2,569 | -21.4% |
| Trade receivables | 40 | €12,006 | €9,437 | -€2,569 | -21.4% |
| Cash at bank and in hand | 54/58 | €105,447 | €178,152 | +€72,705 | +68.9% |
| Total equity and liabilities | 10/49 | €117,453 | €187,589 | +€70,136 | +59.7% |
| Equity | 10/15 | €78,295 | €128,139 | +€49,843 | +63.7% |
| Contributions | 10/11 | €100 | €100 | = | 0.0% |
| Reserves | 13 | €78,195 | €128,039 | +€49,843 | +63.7% |
| Distributable reserves | 133 | €78,195 | €128,039 | +€49,843 | +63.7% |
| Amounts payable | 17/49 | €39,158 | €59,451 | +€20,293 | +51.8% |
| Amounts payable within one year | 42/48 | €39,158 | €59,451 | +€20,293 | +51.8% |
| Trade debts | 44 | €1,210 | €7,757 | +€6,547 | +541.1% |
| Suppliers | 440/4 | €1,210 | €7,757 | +€6,547 | +541.1% |
| Taxes, remuneration and social security | 45 | €36,348 | €46,893 | +€10,545 | +29.0% |
| Taxes | 450/3 | €36,348 | €46,893 | +€10,545 | +29.0% |
| Other amounts payable | 47/48 | €1,600 | €4,800 | +€3,200 | +200.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €306 | €0 | -€306 | -100.0% |
| Other operating charges | 640/8 | €850 | €128 | -€722 | -84.9% |
| Gross operating margin | 9900 | €75,849 | €70,200 | -€5,649 | -7.4% |
| Operating profit (loss) | 9901 | €74,693 | €70,072 | -€4,621 | -6.2% |
| Financial charges | 65/66B | €103 | €144 | +€41 | +40.0% |
| Recurring financial charges | 65 | €103 | €144 | +€41 | +40.0% |
| Profit (loss) for the period before taxes | 9903 | €74,590 | €69,928 | -€4,662 | -6.2% |
| Income taxes | 67/77 | €20,861 | €20,085 | -€776 | -3.7% |
| Profit (loss) for the period | 9904 | €53,729 | €49,843 | -€3,885 | -7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €53,729 | €49,843 | -€3,885 | -7.2% |
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 12 October 2026 via checked.be.