IMAFI²S: 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.
IMAFI²S
Largest movements
- Cash +€31,543
up €31,543 (+215.5%), from €14,638 to €46,181
mainly Net result for the year (+€49,236) and Debts after one year (+€30,011)
- Receivables after one year +€30,000
up €30,000 (+26.9%), from €111,616 to €141,616
- Tangible fixed assets -€10,734
down €10,734 (-10.4%), from €103,339 to €92,606
of which Land and buildings: -€10,159
- Receivables within one year +€4,738
up €4,738 (+21577.2%), from €22 to €4,760
of which Trade receivables: +€4,281
- Debts after one year +€30,011
up €30,011 (+35.4%), from €84,857 to €114,868
of which Other amounts payable: +€32,047
- Other debts +€20,387
up €20,387 (+75.5%), from €27,000 to €47,387
- Gross operating margin +€17,189
up €17,189 (+29.8%), from €57,651 to €74,840
- Depreciation -€2,597
down €2,597 (-19.5%), from €13,331 to €10,734
- Financial charges +€1,107
up €1,107 (+18.1%), from €6,122 to €7,229
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 | €231,452 | €286,866 | +€55,414 | +23.9% |
| Fixed assets | 21/28 | €103,339 | €92,606 | -€10,734 | -10.4% |
| Tangible fixed assets | 22/27 | €103,339 | €92,606 | -€10,734 | -10.4% |
| Land and buildings | 22 | €101,302 | €91,143 | -€10,159 | -10.0% |
| Other tangible fixed assets | 26 | €2,037 | €1,463 | -€575 | -28.2% |
| Current assets | 29/58 | €128,112 | €194,260 | +€66,148 | +51.6% |
| Amounts receivable after more than one year | 29 | €111,616 | €141,616 | +€30,000 | +26.9% |
| Other amounts receivable | 291 | €111,616 | €141,616 | +€30,000 | +26.9% |
| Amounts receivable within one year | 40/41 | €22 | €4,760 | +€4,738 | +21577.2% |
| Trade receivables | 40 | - | €4,281 | +€4,281 | |
| Other amounts receivable | 41 | €22 | €479 | +€457 | +2081.5% |
| Cash at bank and in hand | 54/58 | €14,638 | €46,181 | +€31,543 | +215.5% |
| Deferred charges and accrued income | 490/1 | €1,837 | €1,703 | -€134 | -7.3% |
| Total equity and liabilities | 10/49 | €231,452 | €286,866 | +€55,414 | +23.9% |
| Equity | 10/15 | €110,859 | €113,095 | +€2,236 | +2.0% |
| Contributions | 10/11 | €29,965 | €29,965 | = | 0.0% |
| Reserves | 13 | €5,256 | €5,256 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,256 | €5,256 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,256 | €5,256 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,638 | €77,874 | +€2,236 | +3.0% |
| Amounts payable | 17/49 | €120,593 | €173,771 | +€53,178 | +44.1% |
| Amounts payable after more than one year | 17 | €84,857 | €114,868 | +€30,011 | +35.4% |
| Financial debts | 170/4 | €6,290 | €4,254 | -€2,036 | -32.4% |
| Other amounts payable | 178/9 | €78,567 | €110,614 | +€32,047 | +40.8% |
| Amounts payable within one year | 42/48 | €30,276 | €51,907 | +€21,631 | +71.4% |
| Current portion of amounts payable after more than one year | 42 | €1,978 | €2,036 | +€58 | +3.0% |
| Trade debts | 44 | €1,298 | €2,483 | +€1,185 | +91.3% |
| Suppliers | 440/4 | €1,298 | €2,483 | +€1,185 | +91.3% |
| Other amounts payable | 47/48 | €27,000 | €47,387 | +€20,387 | +75.5% |
| Accrued charges and deferred income | 492/3 | €5,460 | €6,996 | +€1,536 | +28.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,331 | €10,734 | -€2,597 | -19.5% |
| Other operating charges | 640/8 | €7,289 | €7,518 | +€229 | +3.1% |
| Gross operating margin | 9900 | €57,651 | €74,840 | +€17,189 | +29.8% |
| Operating profit (loss) | 9901 | €37,031 | €56,588 | +€19,557 | +52.8% |
| Financial income | 75/76B | €73 | €430 | +€357 | +487.9% |
| Recurring financial income | 75 | €73 | €430 | +€357 | +487.9% |
| Financial charges | 65/66B | €6,122 | €7,229 | +€1,107 | +18.1% |
| Recurring financial charges | 65 | €6,122 | €7,229 | +€1,107 | +18.1% |
| Profit (loss) for the period before taxes | 9903 | €30,982 | €49,789 | +€18,808 | +60.7% |
| Income taxes | 67/77 | €400 | €553 | +€153 | +38.3% |
| Profit (loss) for the period | 9904 | €30,582 | €49,236 | +€18,655 | +61.0% |
| Profit (loss) for the period to be appropriated | 9905 | €30,582 | €49,236 | +€18,655 | +61.0% |
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 4 October 2026 via checked.be.