IMAGE FREAKS: 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.
IMAGE FREAKS
Largest movements
- Cash +€674,837
up €674,837 (+682.5%), from €98,879 to €773,716
mainly Current investments (+€558,458) and Net result for the year (+€123,827)
- Current investments -€558,458
down €558,458 (-88.7%), from €629,726 to €71,269
- Receivables within one year +€20,897
up €20,897 (+37.0%), from €56,473 to €77,370
of which Trade receivables: +€14,023
- Tangible fixed assets -€20,539
down €20,539 (-15.0%), from €136,901 to €116,362
of which Furniture and vehicles: -€14,135
- Reserves +€123,800
up €123,800 (+15.5%), from €797,131 to €920,931
of which Distributable reserves: +€123,800
- Gross operating margin -€21,367
down €21,367 (-9.4%), from €228,106 to €206,739
- Taxes -€6,507
down €6,507 (-9.8%), from €66,551 to €60,044
- Financial income +€4,835
up €4,835 (+95.0%), from €5,089 to €9,923
of which Financial income: +€4,835
- Financial charges +€3,282
up €3,282 (+511.5%), from €642 to €3,923
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 | €926,651 | €1,042,520 | +€115,869 | +12.5% |
| Fixed assets | 21/28 | €136,901 | €116,362 | -€20,539 | -15.0% |
| Tangible fixed assets | 22/27 | €136,901 | €116,362 | -€20,539 | -15.0% |
| Land and buildings | 22 | €24,974 | €21,567 | -€3,407 | -13.6% |
| Plant, machinery and equipment | 23 | €949 | €0 | -€949 | -100.0% |
| Furniture and vehicles | 24 | €108,930 | €94,795 | -€14,135 | -13.0% |
| Other tangible fixed assets | 26 | €2,048 | €0 | -€2,048 | -100.0% |
| Current assets | 29/58 | €789,750 | €926,157 | +€136,407 | +17.3% |
| Amounts receivable within one year | 40/41 | €56,473 | €77,370 | +€20,897 | +37.0% |
| Trade receivables | 40 | €51,049 | €65,072 | +€14,023 | +27.5% |
| Other amounts receivable | 41 | €5,424 | €12,299 | +€6,875 | +126.7% |
| Current investments | 50/53 | €629,726 | €71,269 | -€558,458 | -88.7% |
| Cash at bank and in hand | 54/58 | €98,879 | €773,716 | +€674,837 | +682.5% |
| Deferred charges and accrued income | 490/1 | €4,671 | €3,802 | -€869 | -18.6% |
| Total equity and liabilities | 10/49 | €926,651 | €1,042,520 | +€115,869 | +12.5% |
| Equity | 10/15 | €909,545 | €1,033,372 | +€123,827 | +13.6% |
| Contributions | 10/11 | €31,000 | €31,000 | = | 0.0% |
| Reserves | 13 | €797,131 | €920,931 | +€123,800 | +15.5% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €778,381 | €902,181 | +€123,800 | +15.9% |
| Profit (loss) carried forward | 14 | €81,414 | €81,440 | +€27 | 0.0% |
| Amounts payable | 17/49 | €17,106 | €9,148 | -€7,958 | -46.5% |
| Amounts payable within one year | 42/48 | €17,106 | €9,148 | -€7,958 | -46.5% |
| Trade debts | 44 | €1,223 | €248 | -€975 | -79.7% |
| Suppliers | 440/4 | €1,223 | €248 | -€975 | -79.7% |
| Taxes, remuneration and social security | 45 | €15,883 | €8,900 | -€6,983 | -44.0% |
| Taxes | 450/3 | €15,883 | €8,900 | -€6,983 | -44.0% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,926 | €27,990 | +€64 | +0.2% |
| Other operating charges | 640/8 | €1,000 | €878 | -€122 | -12.2% |
| Gross operating margin | 9900 | €228,106 | €206,739 | -€21,367 | -9.4% |
| Operating profit (loss) | 9901 | €199,180 | €177,871 | -€21,309 | -10.7% |
| Financial income | 75/76B | €5,089 | €9,923 | +€4,835 | +95.0% |
| Recurring financial income | 75 | €5,089 | €9,923 | +€4,835 | +95.0% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €642 | €3,923 | +€3,282 | +511.5% |
| Recurring financial charges | 65 | €642 | €3,923 | +€3,282 | +511.5% |
| Profit (loss) for the period before taxes | 9903 | €203,627 | €183,871 | -€19,756 | -9.7% |
| Income taxes | 67/77 | €66,551 | €60,044 | -€6,507 | -9.8% |
| Profit (loss) for the period | 9904 | €137,075 | €123,827 | -€13,249 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €137,075 | €123,827 | -€13,249 | -9.7% |
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 5 October 2026 via checked.be.