IMAGEAR: 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.
IMAGEAR
Largest movements
- Cash -€11,288
down €11,288 (-48.1%), from €23,463 to €12,175
mainly Net result for the year (-€13,728) and Receivables within one year (-€5,039)
- Receivables within one year +€5,039
up €5,039 (+63.5%), from €7,937 to €12,976
of which Trade receivables: +€4,574
- Stocks and contracts -€2,392
down €2,392 (-7.8%), from €30,640 to €28,248
- Deferred charges and accrued income +€989
up €989 (+218.0%), from €454 to €1,443
- Profit (loss) carried forward -€13,728
down €13,728 (-38.0%), from -€36,081 to -€49,809
- Tax, wage and social debts +€2,820
up €2,820 (+19.4%), from €14,543 to €17,364
of which Remuneration and social security: +€2,658
- Trade debts +€2,566
new in 2025: €2,566
- Gross operating margin -€21,868
down €21,868 (-59.2%), from €36,966 to €15,098
- Staff costs +€2,036
up €2,036 (+8.2%), from €24,835 to €26,871
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 | €79,563 | €71,220 | -€8,342 | -10.5% |
| Fixed assets | 21/28 | €4,248 | €3,557 | -€690 | -16.3% |
| Tangible fixed assets | 22/27 | €2,163 | €1,472 | -€690 | -31.9% |
| Furniture and vehicles | 24 | €497 | €57 | -€440 | -88.6% |
| Leasing and similar rights | 25 | €1,666 | €1,416 | -€250 | -15.0% |
| Financial fixed assets | 28 | €2,085 | €2,085 | = | 0.0% |
| Current assets | 29/58 | €75,315 | €67,663 | -€7,652 | -10.2% |
| Stocks and contracts in progress | 3 | €30,640 | €28,248 | -€2,392 | -7.8% |
| Stocks | 30/36 | €30,640 | €28,248 | -€2,392 | -7.8% |
| Amounts receivable within one year | 40/41 | €7,937 | €12,976 | +€5,039 | +63.5% |
| Trade receivables | 40 | €2,545 | €7,119 | +€4,574 | +179.8% |
| Other amounts receivable | 41 | €5,393 | €5,857 | +€464 | +8.6% |
| Current investments | 50/53 | €12,821 | €12,821 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €23,463 | €12,175 | -€11,288 | -48.1% |
| Deferred charges and accrued income | 490/1 | €454 | €1,443 | +€989 | +218.0% |
| Total equity and liabilities | 10/49 | €79,563 | €71,220 | -€8,342 | -10.5% |
| Equity | 10/15 | -€17,481 | -€31,209 | -€13,728 | -78.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,081 | -€49,809 | -€13,728 | -38.0% |
| Amounts payable | 17/49 | €97,043 | €102,429 | +€5,386 | +5.6% |
| Amounts payable after more than one year | 17 | €82,000 | €82,000 | = | 0.0% |
| Financial debts | 170/4 | €82,000 | €82,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €15,043 | €20,429 | +€5,386 | +35.8% |
| Trade debts | 44 | - | €2,566 | +€2,566 | |
| Suppliers | 440/4 | - | €2,566 | +€2,566 | |
| Taxes, remuneration and social security | 45 | €14,543 | €17,364 | +€2,820 | +19.4% |
| Taxes | 450/3 | €1,247 | €1,409 | +€162 | +13.0% |
| Remuneration and social security | 454/9 | €13,297 | €15,954 | +€2,658 | +20.0% |
| Other amounts payable | 47/48 | €500 | €500 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €24,835 | €26,871 | +€2,036 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €690 | €690 | = | 0.0% |
| Other operating charges | 640/8 | €670 | €691 | +€21 | +3.1% |
| Gross operating margin | 9900 | €36,966 | €15,098 | -€21,868 | -59.2% |
| Operating profit (loss) | 9901 | €10,771 | -€13,154 | -€23,925 | |
| Financial income | 75/76B | €36 | €110 | +€75 | +210.7% |
| Recurring financial income | 75 | €36 | €110 | +€75 | +210.7% |
| Financial charges | 65/66B | €645 | €685 | +€41 | +6.3% |
| Recurring financial charges | 65 | €645 | €685 | +€41 | +6.3% |
| Profit (loss) for the period before taxes | 9903 | €10,162 | -€13,728 | -€23,891 | |
| Income taxes | 67/77 | €5 | - | -€5 | |
| Profit (loss) for the period | 9904 | €10,157 | -€13,728 | -€23,886 | |
| Profit (loss) for the period to be appropriated | 9905 | €10,157 | -€13,728 | -€23,886 |
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 12 October 2026 via checked.be.