IM&S: 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&S
Largest movements
- Receivables within one year -€215,870
down €215,870 (-78.9%), from €273,667 to €57,796
of which Trade receivables: -€216,198
- Cash -€29,521
down €29,521 (-30.0%), from €98,346 to €68,825
mainly Trade debts (-€213,578) and Current portion of long-term debt (-€25,000)
- Tangible fixed assets -€14,705
down €14,705 (-95.6%), from €15,389 to €684
of which Furniture and vehicles: -€13,627
- Deferred charges and accrued income +€6,734
up €6,734 (+2,160%), from €312 to €7,046
- Trade debts -€213,578
down €213,578 (-93.2%), from €229,106 to €15,528
- Current portion of long-term debt -€25,000
down €25,000 (-100%), from €25,000 to €0
- Tax, wage and social debts -€21,274
down €21,274 (-30.5%), from €69,825 to €48,552
of which Taxes: -€12,564
- Reserves +€7,557
up €7,557 (+42.6%), from €17,748 to €25,305
of which Distributable reserves: +€9,417
- Depreciation -€9,030
down €9,030 (-95.8%), from €9,425 to €394
- Gross operating margin -€7,849
down €7,849 (-4.1%), from €190,320 to €182,471
- Taxes -€3,336
down €3,336 (-37.3%), from €8,947 to €5,611
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 | €387,713 | €134,351 | -€253,362 | -65.3% |
| Fixed assets | 21/28 | €15,389 | €684 | -€14,705 | -95.6% |
| Tangible fixed assets | 22/27 | €15,389 | €684 | -€14,705 | -95.6% |
| Plant, machinery and equipment | 23 | €1,078 | €0 | -€1,078 | -100% |
| Furniture and vehicles | 24 | €14,311 | €684 | -€13,627 | -95.2% |
| Current assets | 29/58 | €372,324 | €133,667 | -€238,657 | -64.1% |
| Amounts receivable within one year | 40/41 | €273,667 | €57,796 | -€215,870 | -78.9% |
| Trade receivables | 40 | €273,667 | €57,469 | -€216,198 | -79.0% |
| Other amounts receivable | 41 | - | €327 | +€327 | |
| Cash at bank and in hand | 54/58 | €98,346 | €68,825 | -€29,521 | -30.0% |
| Deferred charges and accrued income | 490/1 | €312 | €7,046 | +€6,734 | +2,160% |
| Total equity and liabilities | 10/49 | €387,713 | €134,351 | -€253,362 | -65.3% |
| Equity | 10/15 | €59,948 | €67,505 | +€7,557 | +12.6% |
| Contributions | 10/11 | €42,200 | €42,200 | = | 0.0% |
| Reserves | 13 | €17,748 | €25,305 | +€7,557 | +42.6% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €15,888 | €25,305 | +€9,417 | +59.3% |
| Amounts payable | 17/49 | €327,765 | €66,846 | -€260,919 | -79.6% |
| Amounts payable within one year | 42/48 | €327,678 | €66,846 | -€260,832 | -79.6% |
| Current portion of amounts payable after more than one year | 42 | €25,000 | €0 | -€25,000 | -100% |
| Trade debts | 44 | €229,106 | €15,528 | -€213,578 | -93.2% |
| Suppliers | 440/4 | €229,106 | €15,528 | -€213,578 | -93.2% |
| Taxes, remuneration and social security | 45 | €69,825 | €48,552 | -€21,274 | -30.5% |
| Taxes | 450/3 | €44,725 | €32,160 | -€12,564 | -28.1% |
| Remuneration and social security | 454/9 | €25,101 | €16,391 | -€8,709 | -34.7% |
| Other amounts payable | 47/48 | €3,747 | €2,766 | -€981 | -26.2% |
| Accrued charges and deferred income | 492/3 | €86 | €0 | -€86 | -100% |
| Non-recurring operating income | 76A | - | €15,674 | +€15,674 | |
| Remuneration, social security and pensions | 62 | €140,729 | €140,063 | -€666 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,425 | €394 | -€9,030 | -95.8% |
| Other operating charges | 640/8 | €6,504 | €7,912 | +€1,407 | +21.6% |
| Non-recurring operating charges | 66A | - | €9,928 | +€9,928 | |
| Gross operating margin | 9900 | €190,320 | €182,471 | -€7,849 | -4.1% |
| Operating profit (loss) | 9901 | €33,662 | €24,174 | -€9,488 | -28.2% |
| Financial income | 75/76B | €26 | €394 | +€367 | +1,389% |
| Recurring financial income | 75 | €26 | €394 | +€367 | +1,389% |
| Financial charges | 65/66B | €10,059 | €11,400 | +€1,342 | +13.3% |
| Recurring financial charges | 65 | €10,059 | €11,400 | +€1,342 | +13.3% |
| Profit (loss) for the period before taxes | 9903 | €23,630 | €13,168 | -€10,463 | -44.3% |
| Income taxes | 67/77 | €8,947 | €5,611 | -€3,336 | -37.3% |
| Profit (loss) for the period | 9904 | €14,683 | €7,557 | -€7,126 | -48.5% |
| Profit (loss) for the period to be appropriated | 9905 | €14,683 | €7,557 | -€7,126 | -48.5% |
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 14 October 2026 via checked.be.