IMAG' IMVEST: 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.
What changed
IMAG' IMVEST
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€83,287
2024 · -€16,864-€66,424
Equity
€2.4m
2024 · €2.4m-€83,287
Cash
€614,948
2024 · €793,005-€178,058
Balance sheet total
€5.7m
2024 · €5.9m-€246,059
Largest movements
Assets
- Cash -€178,058
down €178,058 (-22.5%), from €793,005 to €614,948
mainly Investment in fixed assets (net) (-€142,986) and Debts after one year (-€111,859)
Equity and liabilities
- Debts after one year -€111,859
down €111,859 (-4.8%), from €2.4m to €2.2m
Income statement
- Gross operating margin -€429,206
down €429,206 (-65.7%), from €653,004 to €223,798
- Depreciation -€224,252
down €224,252 (-54.6%), from €410,936 to €186,684
- Financial charges -€16,988
down €16,988 (-17.2%), from €98,535 to €81,546
of which Non-recurring financial charges: -€26,694
- Other operating charges +€6,647
up €6,647 (+13.8%), from €48,317 to €54,964
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.
Result 2024
-€16,864
Gross operating margin
-€429,206
Depreciation
+€224,252
Other operating charges
-€6,647
Financial income
+€1
Financial charges
+€16,988
Taxes
+€27
Deferred taxes and other
+€128,162
Result 2025
-€83,287
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€83,880
Investment
-€142,986
Financing
-€118,951
Cash 2024
€793,005
From operations (derived)
+€83,880
Net result for the year
-€83,287
Depreciation
+€186,684
Receivables within one year
+€25,053
Deferred charges and accrued income
-€750
Provisions
-€14,224
Trade debts
-€10,639
Tax, wage and social debts
-€23,259
Accrued charges and deferred income
+€4,302
Investment (derived)
-€142,986
Investment in fixed assets (net)
-€142,986
Financing
-€118,951
Debts after one year
-€111,859
Current portion of long-term debt
-€7,093
Cash 2025
€614,948
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,909,376 | €5,663,316 | -€246,059 | -4.2% |
| Fixed assets | 21/28 | €4,632,502 | €4,588,804 | -€43,698 | -0.9% |
| Tangible fixed assets | 22/27 | €4,631,783 | €4,588,085 | -€43,698 | -0.9% |
| Land and buildings | 22 | €4,630,296 | €4,586,814 | -€43,482 | -0.9% |
| Furniture and vehicles | 24 | €1,487 | €1,271 | -€216 | -14.5% |
| Financial fixed assets | 28 | €719 | €719 | = | 0.0% |
| Current assets | 29/58 | €1,276,874 | €1,074,512 | -€202,361 | -15.8% |
| Stocks and contracts in progress | 3 | €400,000 | €400,000 | = | 0.0% |
| Stocks | 30/36 | €400,000 | €400,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €76,991 | €51,938 | -€25,053 | -32.5% |
| Trade receivables | 40 | - | €995 | +€995 | |
| Other amounts receivable | 41 | €76,991 | €50,942 | -€26,049 | -33.8% |
| Cash at bank and in hand | 54/58 | €793,005 | €614,948 | -€178,058 | -22.5% |
| Deferred charges and accrued income | 490/1 | €6,878 | €7,627 | +€750 | +10.9% |
| Total equity and liabilities | 10/49 | €5,909,376 | €5,663,316 | -€246,059 | -4.2% |
| Equity | 10/15 | €2,444,532 | €2,361,245 | -€83,287 | -3.4% |
| Contributions | 10/11 | €272,683 | €272,683 | = | 0.0% |
| Reserves | 13 | €2,530,526 | €2,487,854 | -€42,673 | -1.7% |
| Tax-exempt reserves | 132 | €2,005,905 | €1,963,232 | -€42,673 | -2.1% |
| Distributable reserves | 133 | €524,621 | €524,621 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€358,677 | -€399,291 | -€40,615 | -11.3% |
| Provisions and deferred taxes | 16 | €712,550 | €698,326 | -€14,224 | -2.0% |
| Provisions for liabilities and charges | 160/5 | €43,915 | €43,915 | = | 0.0% |
| Pensions and similar obligations | 160 | €43,915 | €43,915 | = | 0.0% |
| Deferred taxes | 168 | €668,635 | €654,411 | -€14,224 | -2.1% |
| Amounts payable | 17/49 | €2,752,293 | €2,603,745 | -€148,548 | -5.4% |
| Amounts payable after more than one year | 17 | €2,353,719 | €2,241,861 | -€111,859 | -4.8% |
| Financial debts | 170/4 | €2,353,719 | €2,241,861 | -€111,859 | -4.8% |
| Amounts payable within one year | 42/48 | €390,089 | €349,098 | -€40,991 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €347,879 | €340,786 | -€7,093 | -2.0% |
| Trade debts | 44 | €13,913 | €3,274 | -€10,639 | -76.5% |
| Suppliers | 440/4 | €13,913 | €3,274 | -€10,639 | -76.5% |
| Taxes, remuneration and social security | 45 | €28,297 | €5,038 | -€23,259 | -82.2% |
| Taxes | 450/3 | €28,297 | €5,038 | -€23,259 | -82.2% |
| Accrued charges and deferred income | 492/3 | €8,485 | €12,787 | +€4,302 | +50.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €410,936 | €186,684 | -€224,252 | -54.6% |
| Other operating charges | 640/8 | €48,317 | €54,964 | +€6,647 | +13.8% |
| Gross operating margin | 9900 | €653,004 | €223,798 | -€429,206 | -65.7% |
| Operating profit (loss) | 9901 | €193,752 | -€17,850 | -€211,602 | |
| Financial income | 75/76B | €2,261 | €2,262 | +€1 | 0.0% |
| Recurring financial income | 75 | €2,261 | €2,262 | +€1 | 0.0% |
| Financial charges | 65/66B | €98,535 | €81,546 | -€16,988 | -17.2% |
| Recurring financial charges | 65 | €71,841 | €81,546 | +€9,706 | +13.5% |
| Non-recurring financial charges | 66B | €26,694 | - | -€26,694 | |
| Profit (loss) for the period before taxes | 9903 | €97,478 | -€97,135 | -€194,613 | |
| Transfer from deferred taxes | 780 | €6,038 | €14,224 | +€8,186 | +136% |
| Transfer to deferred taxes | 680 | €119,976 | - | -€119,976 | |
| Income taxes | 67/77 | €404 | €377 | -€27 | -6.6% |
| Profit (loss) for the period | 9904 | -€16,864 | -€83,287 | -€66,424 | -394% |
| Transfer from tax-exempt reserves | 789 | €18,113 | €42,673 | +€24,559 | +136% |
| Transfer to tax-exempt reserves | 689 | €359,927 | - | -€359,927 | |
| Profit (loss) for the period to be appropriated | 9905 | -€358,677 | -€40,615 | +€318,062 | +88.7% |
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 13 October 2026 via checked.be.