Im-Fine: 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-Fine
Largest movements
- Tangible fixed assets -€197,381
down €197,381 (-6.4%), from €3.1m to €2.9m
of which Land and buildings: -€158,018
- Receivables within one year -€164,908
down €164,908 (-52.0%), from €316,921 to €152,013
of which Trade receivables: -€193,234
- Cash +€71,026
up €71,026 (+71.6%), from €99,202 to €170,228
mainly Depreciation (+€208,579) and Receivables within one year (+€164,908)
- Profit (loss) carried forward +€292,029
up €292,029, from -€114,989 to €177,040
- Reserves -€276,492
down €276,492 (-99.3%), from €278,352 to €1,860
of which Tax-exempt reserves: -€276,492
- Debts after one year -€168,854
down €168,854 (-9.2%), from €1.8m to €1.7m
- Tax, wage and social debts -€95,278
down €95,278 (-42.1%), from €226,280 to €131,002
of which Remuneration and social security: -€64,430
- Provisions -€92,164
down €92,164 (-100%), from €92,164 to €0
- Staff costs -€566,552
down €566,552 (-63.2%), from €896,050 to €329,499
- Gross operating margin -€558,221
down €558,221 (-42.4%), from €1.3m to €758,043
- Taxes +€83,459
up €83,459 (+3,507%), from €2,380 to €85,838
- Financial charges -€15,618
down €15,618 (-14.9%), from €105,151 to €89,533
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 | €3,538,963 | €3,252,397 | -€286,566 | -8.1% |
| Fixed assets | 21/28 | €3,093,765 | €2,896,258 | -€197,507 | -6.4% |
| Intangible fixed assets | 21 | €17,250 | €6,908 | -€10,343 | -60.0% |
| Tangible fixed assets | 22/27 | €3,076,192 | €2,878,811 | -€197,381 | -6.4% |
| Land and buildings | 22 | €2,891,544 | €2,733,525 | -€158,018 | -5.5% |
| Furniture and vehicles | 24 | €93,106 | €59,244 | -€33,862 | -36.4% |
| Other tangible fixed assets | 26 | €91,543 | €86,042 | -€5,501 | -6.0% |
| Financial fixed assets | 28 | €323 | €10,540 | +€10,217 | +3,166% |
| Current assets | 29/58 | €445,198 | €356,139 | -€89,059 | -20.0% |
| Amounts receivable within one year | 40/41 | €316,921 | €152,013 | -€164,908 | -52.0% |
| Trade receivables | 40 | €315,083 | €121,848 | -€193,234 | -61.3% |
| Other amounts receivable | 41 | €1,838 | €30,164 | +€28,326 | +1,541% |
| Current investments | 50/53 | €98 | €98 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €99,202 | €170,228 | +€71,026 | +71.6% |
| Deferred charges and accrued income | 490/1 | €28,978 | €33,800 | +€4,822 | +16.6% |
| Total equity and liabilities | 10/49 | €3,538,963 | €3,252,397 | -€286,566 | -8.1% |
| Equity | 10/15 | €181,963 | €197,500 | +€15,538 | +8.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €278,352 | €1,860 | -€276,492 | -99.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €276,492 | €0 | -€276,492 | -100% |
| Profit (loss) carried forward | 14 | -€114,989 | €177,040 | +€292,029 | |
| Provisions and deferred taxes | 16 | €92,164 | €0 | -€92,164 | -100% |
| Deferred taxes | 168 | €92,164 | €0 | -€92,164 | -100% |
| Amounts payable | 17/49 | €3,264,837 | €3,054,897 | -€209,940 | -6.4% |
| Amounts payable after more than one year | 17 | €1,825,530 | €1,656,676 | -€168,854 | -9.2% |
| Financial debts | 170/4 | €1,825,530 | €1,656,676 | -€168,854 | -9.2% |
| Amounts payable within one year | 42/48 | €1,422,334 | €1,391,321 | -€31,013 | -2.2% |
| Current portion of amounts payable after more than one year | 42 | €169,467 | €172,049 | +€2,582 | +1.5% |
| Financial debts | 43 | €0 | €753 | +€753 | |
| Credit institutions | 430/8 | €0 | €753 | +€753 | |
| Trade debts | 44 | €173,309 | €214,508 | +€41,199 | +23.8% |
| Suppliers | 440/4 | €173,309 | €214,508 | +€41,199 | +23.8% |
| Taxes, remuneration and social security | 45 | €226,280 | €131,002 | -€95,278 | -42.1% |
| Taxes | 450/3 | €104,067 | €73,218 | -€30,849 | -29.6% |
| Remuneration and social security | 454/9 | €122,213 | €57,784 | -€64,430 | -52.7% |
| Other amounts payable | 47/48 | €853,277 | €873,008 | +€19,731 | +2.3% |
| Accrued charges and deferred income | 492/3 | €16,973 | €6,900 | -€10,073 | -59.3% |
| Non-recurring operating income | 76A | €2,177 | €19,512 | +€17,335 | +796% |
| Remuneration, social security and pensions | 62 | €896,050 | €329,499 | -€566,552 | -63.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €211,744 | €208,579 | -€3,165 | -1.5% |
| Other operating charges | 640/8 | €58,382 | €60,671 | +€2,289 | +3.9% |
| Non-recurring operating charges | 66A | €2,572 | €60,550 | +€57,978 | +2,254% |
| Gross operating margin | 9900 | €1,316,265 | €758,043 | -€558,221 | -42.4% |
| Operating profit (loss) | 9901 | €147,517 | €98,745 | -€48,771 | -33.1% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100% |
| Financial charges | 65/66B | €105,151 | €89,533 | -€15,618 | -14.9% |
| Recurring financial charges | 65 | €105,151 | €89,533 | -€15,618 | -14.9% |
| Profit (loss) for the period before taxes | 9903 | €42,365 | €9,212 | -€33,154 | -78.3% |
| Transfer from deferred taxes | 780 | €2,351 | €92,164 | +€89,813 | +3,820% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €2,380 | €85,838 | +€83,459 | +3,507% |
| Profit (loss) for the period | 9904 | €42,337 | €15,538 | -€26,799 | -63.3% |
| Transfer from tax-exempt reserves | 789 | €7,052 | €276,492 | +€269,439 | +3,820% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €49,389 | €292,029 | +€242,640 | +491% |
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 13 October 2026 via checked.be.