Image Line Group: 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
Image Line Group
NACE 64.210, Activities of holding companies
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€18.0m
2024 · €60.4m-€42.5m
Equity
€379.9m
2024 · €361.9m+€18.0m
Cash
€336,468
2024 · €316,149+€20,319
Balance sheet total
€499.5m
2024 · €487.4m+€12.1m
Largest movements
Assets
- Receivables within one year +€12.0m
up €12.0m (+11.9%), from €101.0m to €113.1m
of which Other amounts receivable: +€8.6m
Equity and liabilities
- Profit (loss) carried forward +€18.0m
up €18.0m (+188.2%), from €9.6m to €27.5m
- Debts after one year -€7.4m
down €7.4m (-6.4%), from €115.2m to €107.9m
of which Financial debts: -€7.3m
Income statement
- Financial income -€40.9m
down €40.9m (-57.7%), from €70.9m to €30.0m
- Financial charges +€2.0m
up €2.0m (+20.6%), from €9.9m to €11.9m
of which Financial charges: +€2.6m
- Turnover +€236,619
up €236,619 (+5.1%), from €4.7m to €4.9m
- Services and other goods -€212,609
down €212,609 (-4.1%), from €5.2m to €5.0m
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
€60.4m
Turnover
+€236,619
Services and other goods
+€212,609
Depreciation
+€0
Other operating charges
-€645
Other operating items
-€89
Financial income
-€40.9m
Financial charges
-€2.0m
Result 2025
€18.0m
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
+€7.3m
Investment
€0
Financing
-€7.3m
Cash 2024
€316,149
From operations (derived)
+€7.3m
Net result for the year
+€18.0m
Depreciation
+€846
Receivables within one year
-€12.0m
Trade debts
+€798,407
Tax, wage and social debts
+€867,366
Accrued charges and deferred income
-€248,373
Financing
-€7.3m
Debts after one year
-€7.4m
Current portion of long-term debt
+€27,074
Cash 2025
€336,468
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €487,421,189 | €499,490,449 | +€12.1m | +2.5% |
| Fixed assets | 21/28 | €326,888,741 | €326,887,895 | -€846 | 0.0% |
| Tangible fixed assets | 22/27 | €918 | €72 | -€846 | -92.2% |
| Furniture and vehicles | 24 | €918 | €72 | -€846 | -92.2% |
| Financial fixed assets | 28 | €326,887,823 | €326,887,823 | = | 0.0% |
| Affiliated companies | 280/1 | €326,887,823 | €326,887,823 | = | 0.0% |
| Participating interests | 280 | €326,887,823 | €326,887,823 | = | 0.0% |
| Current assets | 29/58 | €160,532,448 | €172,602,554 | +€12.1m | +7.5% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €101,046,850 | €113,096,638 | +€12.0m | +11.9% |
| Trade receivables | 40 | €2,327,963 | €5,798,018 | +€3.5m | +149.1% |
| Other amounts receivable | 41 | €98,718,887 | €107,298,620 | +€8.6m | +8.7% |
| Current investments | 50/53 | €59,158,522 | €59,158,522 | = | 0.0% |
| Own shares | 50 | €59,158,522 | €59,158,522 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €316,149 | €336,468 | +€20,319 | +6.4% |
| Deferred charges and accrued income | 490/1 | €10,926 | €10,926 | = | 0.0% |
| Total equity and liabilities | 10/49 | €487,421,189 | €499,490,449 | +€12.1m | +2.5% |
| Equity | 10/15 | €361,896,148 | €379,871,929 | +€18.0m | +5.0% |
| Contributions | 10/11 | €293,185,980 | €293,185,980 | = | 0.0% |
| Reserves | 13 | €59,158,522 | €59,158,522 | = | 0.0% |
| Non-distributable reserves | 130/1 | €59,158,522 | €59,158,522 | = | 0.0% |
| Own shares acquired | 1312 | €59,158,522 | €59,158,522 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,551,646 | €27,527,427 | +€18.0m | +188.2% |
| Amounts payable | 17/49 | €125,525,041 | €119,618,520 | -€5.9m | -4.7% |
| Amounts payable after more than one year | 17 | €115,219,543 | €107,868,548 | -€7.4m | -6.4% |
| Financial debts | 170/4 | €115,179,604 | €107,868,548 | -€7.3m | -6.3% |
| Credit institutions | 173 | €18,900,000 | €13,500,000 | -€5.4m | -28.6% |
| Other loans | 174 | €96,279,604 | €94,368,548 | -€1.9m | -2.0% |
| Other amounts payable | 178/9 | €39,939 | €0 | -€39,939 | -100.0% |
| Amounts payable within one year | 42/48 | €9,319,800 | €11,012,647 | +€1.7m | +18.2% |
| Current portion of amounts payable after more than one year | 42 | €5,425,426 | €5,452,500 | +€27,074 | +0.5% |
| Trade debts | 44 | €3,894,329 | €4,692,736 | +€798,407 | +20.5% |
| Suppliers | 440/4 | €3,894,329 | €4,692,736 | +€798,407 | +20.5% |
| Taxes, remuneration and social security | 45 | €0 | €867,366 | +€867,366 | |
| Taxes | 450/3 | €0 | €867,366 | +€867,366 | |
| Other amounts payable | 47/48 | €45 | €45 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €985,698 | €737,325 | -€248,373 | -25.2% |
| Operating income | 70/76A | €4,660,993 | €4,897,523 | +€236,530 | +5.1% |
| Turnover | 70 | €4,660,904 | €4,897,523 | +€236,619 | +5.1% |
| Non-recurring operating income | 76A | €89 | €0 | -€89 | -100.0% |
| Operating charges | 60/66A | €5,247,101 | €5,035,137 | -€211,965 | -4.0% |
| Services and other goods | 61 | €5,245,398 | €5,032,789 | -€212,609 | -4.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €846 | €846 | -€0 | 0.0% |
| Other operating charges | 640/8 | €857 | €1,502 | +€645 | +75.3% |
| Operating profit (loss) | 9901 | -€586,108 | -€137,614 | +€448,494 | +76.5% |
| Financial income | 75/76B | €70,883,562 | €30,017,581 | -€40.9m | -57.7% |
| Recurring financial income | 75 | €70,883,562 | €30,017,581 | -€40.9m | -57.7% |
| Income from financial fixed assets | 750 | €68,004,032 | €26,564,870 | -€41.4m | -60.9% |
| Income from current assets | 751 | €2,820,151 | €3,451,916 | +€631,765 | +22.4% |
| Other financial income | 752/9 | €59,379 | €795 | -€58,584 | -98.7% |
| Financial charges | 65/66B | €9,869,791 | €11,904,186 | +€2.0m | +20.6% |
| Recurring financial charges | 65 | €9,203,341 | €11,833,168 | +€2.6m | +28.6% |
| Debt charges | 650 | €9,163,901 | €11,788,905 | +€2.6m | +28.6% |
| Other financial charges | 652/9 | €39,441 | €44,263 | +€4,822 | +12.2% |
| Non-recurring financial charges | 66B | €666,450 | €71,018 | -€595,432 | -89.3% |
| Profit (loss) for the period before taxes | 9903 | €60,427,663 | €17,975,781 | -€42.5m | -70.3% |
| Profit (loss) for the period | 9904 | €60,427,663 | €17,975,781 | -€42.5m | -70.3% |
| Profit (loss) for the period to be appropriated | 9905 | €60,427,663 | €17,975,781 | -€42.5m | -70.3% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.