IMABA: what changed
Two fiscal 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.
IMABA
Largest movements
- Receivables within one year +€77,685
up €77,685 (+52.6%), from €147,788 to €225,472
of which Trade receivables: +€40,485
- Current investments -€61,348
down €61,348 (-100.0%), from €61,348 to €0
- Tangible fixed assets -€36,630
down €36,630 (-2.3%), from €1.6m to €1.5m
of which Land and buildings: -€91,099
- Cash +€23,884
up €23,884 (+50.2%), from €47,609 to €71,493
mainly Other debts (+€466,906) and Depreciation (+€110,333)
- Other debts +€466,906
up €466,906 (+77.7%), from €600,891 to €1.1m
- Reserves -€424,684
down €424,684 (-50.5%), from €841,101 to €416,417
of which Distributable reserves: -€424,684
- Debts after one year -€19,844
down €19,844 (-13.6%), from €145,807 to €125,963
- Financial income -€27,297
down €27,297 (-38.5%), from €70,857 to €43,559
- Gross operating margin +€22,484
up €22,484 (+9.0%), from €249,126 to €271,609
- Financial charges -€11,706
down €11,706 (-21.5%), from €54,488 to €42,782
- Taxes +€9,855
up €9,855 (+33.8%), from €29,164 to €39,019
- Other operating charges -€7,237
down €7,237 (-34.5%), from €20,956 to €13,719
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 | €1,890,855 | €1,894,074 | +€3,219 | +0.2% |
| Fixed assets | 21/28 | €1,627,757 | €1,591,127 | -€36,630 | -2.3% |
| Tangible fixed assets | 22/27 | €1,571,672 | €1,535,042 | -€36,630 | -2.3% |
| Land and buildings | 22 | €1,561,771 | €1,470,673 | -€91,099 | -5.8% |
| Plant, machinery and equipment | 23 | €834 | €265 | -€569 | -68.2% |
| Furniture and vehicles | 24 | €9,066 | €64,104 | +€55,038 | +607.1% |
| Financial fixed assets | 28 | €56,085 | €56,085 | = | 0.0% |
| Current assets | 29/58 | €263,098 | €302,947 | +€39,849 | +15.1% |
| Amounts receivable within one year | 40/41 | €147,788 | €225,472 | +€77,685 | +52.6% |
| Trade receivables | 40 | €124,779 | €165,264 | +€40,485 | +32.4% |
| Other amounts receivable | 41 | €23,008 | €60,208 | +€37,200 | +161.7% |
| Current investments | 50/53 | €61,348 | €0 | -€61,348 | -100.0% |
| Cash at bank and in hand | 54/58 | €47,609 | €71,493 | +€23,884 | +50.2% |
| Deferred charges and accrued income | 490/1 | €6,353 | €5,982 | -€371 | -5.8% |
| Total equity and liabilities | 10/49 | €1,890,855 | €1,894,074 | +€3,219 | +0.2% |
| Equity | 10/15 | €1,016,129 | €591,446 | -€424,684 | -41.8% |
| Contributions | 10/11 | €128,600 | €128,600 | = | 0.0% |
| Reserves | 13 | €841,101 | €416,417 | -€424,684 | -50.5% |
| Non-distributable reserves | 130/1 | €12,860 | €12,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,860 | €12,860 | = | 0.0% |
| Distributable reserves | 133 | €828,241 | €403,557 | -€424,684 | -51.3% |
| Profit (loss) carried forward | 14 | €46,429 | €46,429 | = | 0.0% |
| Amounts payable | 17/49 | €874,725 | €1,302,628 | +€427,903 | +48.9% |
| Amounts payable after more than one year | 17 | €145,807 | €125,963 | -€19,844 | -13.6% |
| Financial debts | 170/4 | €145,807 | €125,963 | -€19,844 | -13.6% |
| Amounts payable within one year | 42/48 | €679,497 | €1,137,685 | +€458,187 | +67.4% |
| Current portion of amounts payable after more than one year | 42 | €34,587 | €19,844 | -€14,743 | -42.6% |
| Trade debts | 44 | €29,246 | €31,723 | +€2,477 | +8.5% |
| Suppliers | 440/4 | €29,246 | €31,723 | +€2,477 | +8.5% |
| Taxes, remuneration and social security | 45 | €14,774 | €18,320 | +€3,546 | +24.0% |
| Taxes | 450/3 | €14,774 | €18,320 | +€3,546 | +24.0% |
| Other amounts payable | 47/48 | €600,891 | €1,067,797 | +€466,906 | +77.7% |
| Accrued charges and deferred income | 492/3 | €49,421 | €38,981 | -€10,440 | -21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €107,133 | €110,333 | +€3,199 | +3.0% |
| Other operating charges | 640/8 | €20,956 | €13,719 | -€7,237 | -34.5% |
| Gross operating margin | 9900 | €249,126 | €271,609 | +€22,484 | +9.0% |
| Operating profit (loss) | 9901 | €121,036 | €147,558 | +€26,521 | +21.9% |
| Financial income | 75/76B | €70,857 | €43,559 | -€27,297 | -38.5% |
| Recurring financial income | 75 | €70,857 | €43,559 | -€27,297 | -38.5% |
| Financial charges | 65/66B | €54,488 | €42,782 | -€11,706 | -21.5% |
| Recurring financial charges | 65 | €54,488 | €42,782 | -€11,706 | -21.5% |
| Profit (loss) for the period before taxes | 9903 | €137,405 | €148,335 | +€10,930 | +8.0% |
| Income taxes | 67/77 | €29,164 | €39,019 | +€9,855 | +33.8% |
| Profit (loss) for the period | 9904 | €108,241 | €109,316 | +€1,076 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €108,241 | €109,316 | +€1,076 | +1.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.