IMAGE LINE: 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.
What changed
IMAGE LINE
NACE 62.100, Computer programming
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€30.4m
2024 · €20.6m+€9.8m
Equity
€30.5m
2024 · €106,202+€30.4m
Cash
€6.7m
2024 · €4.7m+€2.0m
Balance sheet total
€71.1m
2024 · €62.8m+€8.3m
Largest movements
Assets
- Receivables within one year +€3.7m
up €3.7m (+55.4%), from €6.7m to €10.4m
of which Other amounts receivable: +€2.0m
- Cash +€2.0m
up €2.0m (+43.7%), from €4.7m to €6.7m
mainly Net result for the year (+€30.4m) and Trade debts (+€3.2m)
- Current investments +€1.7m
up €1.7m (+1294.3%), from €132,859 to €1.9m
- Receivables after one year +€781,435
up €781,435 (+44.1%), from €1.8m to €2.6m
Equity and liabilities
- Profit (loss) carried forward +€30.4m
up €30.4m, from €0 to €30.4m
- Other debts -€20.8m
down €20.8m (-51.5%), from €40.4m to €19.6m
- Trade debts +€3.2m
up €3.2m (+102.1%), from €3.1m to €6.3m
- Short-term financial debts -€2.8m
down €2.8m (-100.0%), from €2.8m to €0
- Debts after one year -€2.7m
down €2.7m (-22.1%), from €12.2m to €9.5m
of which Financial debts: -€2.4m
Income statement
- Turnover +€7.2m
up €7.2m (+18.1%), from €39.6m to €46.7m
- Financial income +€4.5m
up €4.5m (+241.2%), from €1.9m to €6.4m
- Services and other goods +€2.5m
up €2.5m (+23.4%), from €10.7m to €13.2m
- Taxes -€689,789
down €689,789 (-16.7%), from €4.1m to €3.4m
of which Taxes: -€689,433
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
€20.6m
Turnover
+€7.2m
Other operating income
-€9,388
Goods and materials
-€310,241
Services and other goods
-€2.5m
Staff costs
+€81,507
Depreciation
-€170,633
Other operating charges
-€1,257
Other operating items
-€15,380
Financial income
+€4.5m
Financial charges
+€438,724
Taxes
+€689,789
Result 2025
€30.4m
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.
From operations
+€9.6m
Investment
-€2.0m
Financing
-€5.6m
Cash 2024
€4.7m
From operations (derived)
+€9.6m
Net result for the year
+€30.4m
Depreciation
+€294,746
Receivables after one year
-€781,435
Receivables within one year
-€3.7m
Deferred charges and accrued income
-€107,968
Trade debts
+€3.2m
Tax, wage and social debts
+€358,682
Other debts
-€20.8m
Accrued charges and deferred income
+€723,661
Investment (derived)
-€2.0m
Investment in fixed assets (net)
-€231,915
Current investments
-€1.7m
Financing
-€5.6m
Debts after one year
-€2.7m
Short-term financial debts
-€2.8m
Contributions, distributions and other
-€56,000
Cash 2025
€6.7m
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €62,813,411 | €71,116,794 | +€8.3m | +13.2% |
| Fixed assets | 21/28 | €49,275,367 | €49,212,536 | -€62,831 | -0.1% |
| Intangible fixed assets | 21 | €1,164,404 | €1,102,125 | -€62,279 | -5.3% |
| Tangible fixed assets | 22/27 | €83,020 | €82,468 | -€552 | -0.7% |
| Plant, machinery and equipment | 23 | €27,150 | €38,312 | +€11,162 | +41.1% |
| Furniture and vehicles | 24 | €55,871 | €44,156 | -€11,714 | -21.0% |
| Financial fixed assets | 28 | €48,027,943 | €48,027,943 | = | 0.0% |
| Affiliated companies | 280/1 | €48,024,657 | €48,024,657 | = | 0.0% |
| Participating interests | 280 | €48,024,657 | €48,024,657 | = | 0.0% |
| Other financial fixed assets | 284/8 | €3,286 | €3,286 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €3,286 | €3,286 | = | 0.0% |
| Current assets | 29/58 | €13,538,044 | €21,904,258 | +€8.4m | +61.8% |
| Amounts receivable after more than one year | 29 | €1,771,059 | €2,552,494 | +€781,435 | +44.1% |
| Other amounts receivable | 291 | €1,771,059 | €2,552,494 | +€781,435 | +44.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €6,699,133 | €10,407,152 | +€3.7m | +55.4% |
| Trade receivables | 40 | €3,094,911 | €4,842,621 | +€1.7m | +56.5% |
| Other amounts receivable | 41 | €3,604,222 | €5,564,531 | +€2.0m | +54.4% |
| Current investments | 50/53 | €132,859 | €1,852,503 | +€1.7m | +1294.3% |
| Other investments | 51/53 | €132,859 | €1,852,503 | +€1.7m | +1294.3% |
| Cash at bank and in hand | 54/58 | €4,686,092 | €6,735,240 | +€2.0m | +43.7% |
| Deferred charges and accrued income | 490/1 | €248,902 | €356,869 | +€107,968 | +43.4% |
| Total equity and liabilities | 10/49 | €62,813,411 | €71,116,794 | +€8.3m | +13.2% |
| Equity | 10/15 | €106,202 | €30,491,170 | +€30.4m | +28610.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €73,895 | €73,895 | = | 0.0% |
| Uncalled capital | 101 | €12,395 | €12,395 | = | 0.0% |
| Reserves | 13 | €44,702 | €44,702 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,390 | €7,390 | = | 0.0% |
| Legal reserve | 130 | €7,390 | €7,390 | = | 0.0% |
| Tax-exempt reserves | 132 | €37,312 | €37,312 | = | 0.0% |
| Distributable reserves | 133 | €0 | - | = | |
| Profit (loss) carried forward | 14 | €0 | €30,384,968 | +€30.4m | |
| Amounts payable | 17/49 | €62,707,210 | €40,625,624 | -€22.1m | -35.2% |
| Amounts payable after more than one year | 17 | €12,150,403 | €9,465,133 | -€2.7m | -22.1% |
| Financial debts | 170/4 | €11,650,000 | €9,250,000 | -€2.4m | -20.6% |
| Credit institutions | 173 | €8,400,000 | €6,000,000 | -€2.4m | -28.6% |
| Other loans | 174 | €3,250,000 | €3,250,000 | = | 0.0% |
| Other amounts payable | 178/9 | €500,403 | €215,133 | -€285,270 | -57.0% |
| Amounts payable within one year | 42/48 | €49,648,593 | €29,528,615 | -€20.1m | -40.5% |
| Current portion of amounts payable after more than one year | 42 | €2,400,000 | €2,400,000 | = | 0.0% |
| Financial debts | 43 | €2,821,676 | €0 | -€2.8m | -100.0% |
| Other loans | 439 | €2,821,676 | €0 | -€2.8m | -100.0% |
| Trade debts | 44 | €3,098,817 | €6,262,295 | +€3.2m | +102.1% |
| Suppliers | 440/4 | €3,098,817 | €6,262,295 | +€3.2m | +102.1% |
| Taxes, remuneration and social security | 45 | €902,077 | €1,260,760 | +€358,682 | +39.8% |
| Taxes | 450/3 | €823,823 | €1,149,049 | +€325,226 | +39.5% |
| Remuneration and social security | 454/9 | €78,254 | €111,711 | +€33,456 | +42.8% |
| Other amounts payable | 47/48 | €40,426,023 | €19,605,561 | -€20.8m | -51.5% |
| Accrued charges and deferred income | 492/3 | €908,214 | €1,631,875 | +€723,661 | +79.7% |
| Operating income | 70/76A | €39,592,549 | €46,720,989 | +€7.1m | +18.0% |
| Turnover | 70 | €39,562,428 | €46,715,636 | +€7.2m | +18.1% |
| Other operating income | 74 | €14,741 | €5,352 | -€9,388 | -63.7% |
| Non-recurring operating income | 76A | €15,380 | €0 | -€15,380 | -100.0% |
| Operating charges | 60/66A | €12,239,902 | €15,153,269 | +€2.9m | +23.8% |
| Goods for resale, raw materials and consumables | 60 | €565,693 | €875,934 | +€310,241 | +54.8% |
| Purchases | 600/8 | €565,693 | €875,934 | +€310,241 | +54.8% |
| Services and other goods | 61 | €10,725,445 | €13,238,189 | +€2.5m | +23.4% |
| Remuneration, social security and pensions | 62 | €818,685 | €737,177 | -€81,507 | -10.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €124,113 | €294,746 | +€170,633 | +137.5% |
| Other operating charges | 640/8 | €5,966 | €7,223 | +€1,257 | +21.1% |
| Operating profit (loss) | 9901 | €27,352,646 | €31,567,720 | +€4.2m | +15.4% |
| Financial income | 75/76B | €1,864,600 | €6,361,483 | +€4.5m | +241.2% |
| Recurring financial income | 75 | €1,864,600 | €6,361,483 | +€4.5m | +241.2% |
| Income from financial fixed assets | 750 | €3,026 | €4,517,681 | +€4.5m | +149177.7% |
| Income from current assets | 751 | €286,133 | €50,342 | -€235,791 | -82.4% |
| Other financial income | 752/9 | €1,575,440 | €1,793,460 | +€218,019 | +13.8% |
| Financial charges | 65/66B | €4,497,282 | €4,058,558 | -€438,724 | -9.8% |
| Recurring financial charges | 65 | €2,788,866 | €4,058,558 | +€1.3m | +45.5% |
| Debt charges | 650 | €1,560,431 | €1,624,714 | +€64,284 | +4.1% |
| Other financial charges | 652/9 | €1,228,436 | €2,433,844 | +€1.2m | +98.1% |
| Non-recurring financial charges | 66B | €1,708,416 | €0 | -€1.7m | -100.0% |
| Profit (loss) for the period before taxes | 9903 | €24,719,964 | €33,870,644 | +€9.2m | +37.0% |
| Income taxes | 67/77 | €4,119,465 | €3,429,675 | -€689,789 | -16.7% |
| Taxes | 670/3 | €4,119,480 | €3,430,047 | -€689,433 | -16.7% |
| Tax adjustments and reversals of tax provisions | 77 | €16 | €372 | +€356 | +2294.0% |
| Profit (loss) for the period | 9904 | €20,600,499 | €30,440,968 | +€9.8m | +47.8% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | €20,600,499 | €30,440,968 | +€9.8m | +47.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.