IMAC & RETAIL SERVICES: 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.
IMAC & RETAIL SERVICES
Largest movements
- Receivables within one year +€615,379
up €615,379 (+85.4%), from €720,578 to €1.3m
of which Trade receivables: +€533,069
- Receivables after one year -€180,000
down €180,000 (-20.7%), from €870,000 to €690,000
- Financial fixed assets +€107,500
up €107,500 (+106%), from €101,050 to €208,550
- Cash -€51,087
down €51,087 (-19.0%), from €268,916 to €217,828
mainly Receivables within one year (-€615,379) and Contributions, distributions and other (-€426,870)
- Deferred charges and accrued income +€40,647
up €40,647 (+606%), from €6,704 to €47,351
- Accrued charges and deferred income +€788,259
up €788,259 (+138%), from €570,754 to €1.4m
- Reserves -€287,295
down €287,295 (-26.1%), from €1.1m to €812,218
- Short-term financial debts +€100,000
new in 2025: €100,000
- Gross operating margin +€112,853
up €112,853 (+9.1%), from €1.2m to €1.3m
- Staff costs +€33,020
up €33,020 (+4.1%), from €796,936 to €829,956
- Depreciation +€30,102
up €30,102 (+31.1%), from €96,815 to €126,917
- Taxes -€20,115
down €20,115 (-18.1%), from €111,064 to €90,949
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 | €2,348,391 | €2,917,223 | +€568,832 | +24.2% |
| Fixed assets | 21/28 | €482,194 | €626,086 | +€143,892 | +29.8% |
| Intangible fixed assets | 21 | €126,556 | €157,290 | +€30,734 | +24.3% |
| Tangible fixed assets | 22/27 | €254,588 | €260,246 | +€5,658 | +2.2% |
| Plant, machinery and equipment | 23 | €9,610 | €15,043 | +€5,433 | +56.5% |
| Furniture and vehicles | 24 | €27,814 | €45,152 | +€17,338 | +62.3% |
| Leasing and similar rights | 25 | €201,157 | €188,698 | -€12,460 | -6.2% |
| Other tangible fixed assets | 26 | €16,008 | €11,354 | -€4,654 | -29.1% |
| Financial fixed assets | 28 | €101,050 | €208,550 | +€107,500 | +106% |
| Current assets | 29/58 | €1,866,198 | €2,291,137 | +€424,939 | +22.8% |
| Amounts receivable after more than one year | 29 | €870,000 | €690,000 | -€180,000 | -20.7% |
| Other amounts receivable | 291 | €870,000 | €690,000 | -€180,000 | -20.7% |
| Amounts receivable within one year | 40/41 | €720,578 | €1,335,957 | +€615,379 | +85.4% |
| Trade receivables | 40 | €638,000 | €1,171,069 | +€533,069 | +83.6% |
| Other amounts receivable | 41 | €82,578 | €164,888 | +€82,310 | +99.7% |
| Cash at bank and in hand | 54/58 | €268,916 | €217,828 | -€51,087 | -19.0% |
| Deferred charges and accrued income | 490/1 | €6,704 | €47,351 | +€40,647 | +606% |
| Total equity and liabilities | 10/49 | €2,348,391 | €2,917,223 | +€568,832 | +24.2% |
| Equity | 10/15 | €1,199,512 | €912,218 | -€287,295 | -24.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,099,512 | €812,218 | -€287,295 | -26.1% |
| Distributable reserves | 133 | €1,099,512 | €812,218 | -€287,295 | -26.1% |
| Amounts payable | 17/49 | €1,148,879 | €2,005,005 | +€856,126 | +74.5% |
| Amounts payable after more than one year | 17 | €107,439 | €105,316 | -€2,123 | -2.0% |
| Financial debts | 170/4 | €107,439 | €105,316 | -€2,123 | -2.0% |
| Amounts payable within one year | 42/48 | €470,686 | €540,676 | +€69,990 | +14.9% |
| Current portion of amounts payable after more than one year | 42 | €70,422 | €68,281 | -€2,141 | -3.0% |
| Financial debts | 43 | - | €100,000 | +€100,000 | |
| Credit institutions | 430/8 | - | €100,000 | +€100,000 | |
| Trade debts | 44 | €254,582 | €226,146 | -€28,435 | -11.2% |
| Suppliers | 440/4 | €254,582 | €226,146 | -€28,435 | -11.2% |
| Taxes, remuneration and social security | 45 | €145,683 | €146,249 | +€566 | +0.4% |
| Taxes | 450/3 | €695 | €53,608 | +€52,914 | +7,616% |
| Remuneration and social security | 454/9 | €144,988 | €92,640 | -€52,347 | -36.1% |
| Accrued charges and deferred income | 492/3 | €570,754 | €1,359,013 | +€788,259 | +138% |
| Remuneration, social security and pensions | 62 | €796,936 | €829,956 | +€33,020 | +4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €96,815 | €126,917 | +€30,102 | +31.1% |
| Other operating charges | 640/8 | €19,997 | €21,854 | +€1,856 | +9.3% |
| Non-recurring operating charges | 66A | - | €125,000 | +€125,000 | |
| Gross operating margin | 9900 | €1,234,484 | €1,347,336 | +€112,853 | +9.1% |
| Operating profit (loss) | 9901 | €320,735 | €243,609 | -€77,126 | -24.0% |
| Financial income | 75/76B | €1,284 | €1,657 | +€373 | +29.1% |
| Recurring financial income | 75 | €1,284 | €1,657 | +€373 | +29.1% |
| Financial charges | 65/66B | €28,080 | €14,741 | -€13,339 | -47.5% |
| Recurring financial charges | 65 | €28,080 | €14,741 | -€13,339 | -47.5% |
| Profit (loss) for the period before taxes | 9903 | €293,938 | €230,525 | -€63,413 | -21.6% |
| Income taxes | 67/77 | €111,064 | €90,949 | -€20,115 | -18.1% |
| Profit (loss) for the period | 9904 | €182,874 | €139,576 | -€43,298 | -23.7% |
| Profit (loss) for the period to be appropriated | 9905 | €182,874 | €139,576 | -€43,298 | -23.7% |
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 31 October 2026 via checked.be.