IMAGILIGHTS: 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.
IMAGILIGHTS
Largest movements
- Receivables within one year -€1.0m
down €1.0m (-56.5%), from €1.8m to €796,106
of which Other amounts receivable: -€1.0m
- Cash -€485,244
down €485,244 (-56.4%), from €860,489 to €375,245
mainly Contributions, distributions and other (-€1.0m) and Tax, wage and social debts (-€214,796)
- Stocks and contracts +€82,603
up €82,603 (+22.4%), from €369,217 to €451,820
- Reserves -€1.0m
down €1.0m (-38.6%), from €2.7m to €1.6m
of which Distributable reserves: -€1.0m
- Tax, wage and social debts -€214,796
down €214,796 (-91.2%), from €235,515 to €20,719
of which Taxes: -€212,845
- Other debts -€200,000
down €200,000 (-100.0%), from €200,000 to €0
- Gross operating margin -€918,738
down €918,738 (-63.9%), from €1.4m to €519,483
- Taxes -€259,410
down €259,410 (-65.0%), from €399,104 to €139,694
- Other operating charges +€61,067
up €61,067 (+1666.5%), from €3,664 to €64,731
- Financial income -€48,523
down €48,523 (-40.8%), from €119,047 to €70,524
- Financial charges +€25,730
up €25,730 (+58.3%), from €44,111 to €69,841
of which Financial charges: +€25,730
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 | €3,549,464 | €2,080,961 | -€1.5m | -41.4% |
| Fixed assets | 21/28 | €461,074 | €428,914 | -€32,160 | -7.0% |
| Intangible fixed assets | 21 | €110,727 | €84,125 | -€26,603 | -24.0% |
| Tangible fixed assets | 22/27 | €344,456 | €338,899 | -€5,557 | -1.6% |
| Land and buildings | 22 | €43,260 | €36,925 | -€6,335 | -14.6% |
| Plant, machinery and equipment | 23 | €225,592 | €216,615 | -€8,977 | -4.0% |
| Furniture and vehicles | 24 | €16,605 | €10,127 | -€6,479 | -39.0% |
| Other tangible fixed assets | 26 | €58,998 | €75,232 | +€16,234 | +27.5% |
| Financial fixed assets | 28 | €5,891 | €5,891 | = | 0.0% |
| Current assets | 29/58 | €3,088,390 | €1,652,047 | -€1.4m | -46.5% |
| Stocks and contracts in progress | 3 | €369,217 | €451,820 | +€82,603 | +22.4% |
| Stocks | 30/36 | €369,217 | €451,820 | +€82,603 | +22.4% |
| Amounts receivable within one year | 40/41 | €1,831,917 | €796,106 | -€1.0m | -56.5% |
| Trade receivables | 40 | €209,501 | €177,791 | -€31,710 | -15.1% |
| Other amounts receivable | 41 | €1,622,416 | €618,314 | -€1.0m | -61.9% |
| Cash at bank and in hand | 54/58 | €860,489 | €375,245 | -€485,244 | -56.4% |
| Deferred charges and accrued income | 490/1 | €26,767 | €28,876 | +€2,109 | +7.9% |
| Total equity and liabilities | 10/49 | €3,549,464 | €2,080,961 | -€1.5m | -41.4% |
| Equity | 10/15 | €2,677,595 | €1,651,743 | -€1.0m | -38.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €2,658,995 | €1,633,143 | -€1.0m | -38.6% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €2,658,995 | €1,633,143 | -€1.0m | -38.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €871,869 | €429,218 | -€442,651 | -50.8% |
| Amounts payable within one year | 42/48 | €871,205 | €428,907 | -€442,298 | -50.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €325,593 | €325,242 | -€351 | -0.1% |
| Credit institutions | 430/8 | €325,593 | €325,242 | -€351 | -0.1% |
| Trade debts | 44 | €74,930 | €51,442 | -€23,488 | -31.3% |
| Suppliers | 440/4 | €74,930 | €51,442 | -€23,488 | -31.3% |
| Advances received on contracts in progress | 46 | €35,166 | €31,504 | -€3,663 | -10.4% |
| Taxes, remuneration and social security | 45 | €235,515 | €20,719 | -€214,796 | -91.2% |
| Taxes | 450/3 | €219,931 | €7,086 | -€212,845 | -96.8% |
| Remuneration and social security | 454/9 | €15,584 | €13,634 | -€1,951 | -12.5% |
| Other amounts payable | 47/48 | €200,000 | €0 | -€200,000 | -100.0% |
| Accrued charges and deferred income | 492/3 | €664 | €311 | -€353 | -53.2% |
| Non-recurring operating income | 76A | €615,066 | €0 | -€615,066 | -100.0% |
| Remuneration, social security and pensions | 62 | €187,658 | €187,624 | -€35 | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €117,871 | €126,779 | +€8,908 | +7.6% |
| Other operating charges | 640/8 | €3,664 | €64,731 | +€61,067 | +1666.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €1,438,221 | €519,483 | -€918,738 | -63.9% |
| Operating profit (loss) | 9901 | €1,129,027 | €140,348 | -€988,679 | -87.6% |
| Financial income | 75/76B | €119,047 | €70,524 | -€48,523 | -40.8% |
| Recurring financial income | 75 | €119,047 | €70,524 | -€48,523 | -40.8% |
| Financial charges | 65/66B | €44,111 | €69,841 | +€25,730 | +58.3% |
| Recurring financial charges | 65 | €44,111 | €69,841 | +€25,730 | +58.3% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €1,203,963 | €141,031 | -€1.1m | -88.3% |
| Income taxes | 67/77 | €399,104 | €139,694 | -€259,410 | -65.0% |
| Profit (loss) for the period | 9904 | €804,859 | €1,336 | -€803,522 | -99.8% |
| Profit (loss) for the period to be appropriated | 9905 | €804,859 | €1,336 | -€803,522 | -99.8% |
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 6 October 2026 via checked.be.