IMAKSA: 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.
IMAKSA
Largest movements
- Tangible fixed assets -€20,173
down €20,173 (-7.3%), from €274,968 to €254,795
- Cash -€7,342
down €7,342 (-3.2%), from €228,371 to €221,029
mainly Current portion of long-term debt (-€38,110) and Accrued charges and deferred income (-€4,313)
- Current portion of long-term debt -€38,110
no longer reported in 2025 (was €38,110)
- Reserves +€16,433
up €16,433 (+45.4%), from €36,200 to €52,633
of which Distributable reserves: +€16,433
- Taxes +€10,000
new in 2025: €10,000
- Financial charges -€6,614
down €6,614 (-89.1%), from €7,427 to €812
- Gross operating margin -€1,568
down €1,568 (-2.9%), from €54,667 to €53,099
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 | €503,340 | €475,825 | -€27,515 | -5.5% |
| Fixed assets | 21/28 | €274,968 | €254,795 | -€20,173 | -7.3% |
| Tangible fixed assets | 22/27 | €274,968 | €254,795 | -€20,173 | -7.3% |
| Land and buildings | 22 | €274,968 | €254,795 | -€20,173 | -7.3% |
| Current assets | 29/58 | €228,371 | €221,029 | -€7,342 | -3.2% |
| Cash at bank and in hand | 54/58 | €228,371 | €221,029 | -€7,342 | -3.2% |
| Total equity and liabilities | 10/49 | €503,340 | €475,825 | -€27,515 | -5.5% |
| Equity | 10/15 | €323,475 | €339,908 | +€16,433 | +5.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €36,200 | €52,633 | +€16,433 | +45.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €30,000 | €46,433 | +€16,433 | +54.8% |
| Profit (loss) carried forward | 14 | €225,275 | €225,275 | = | 0.0% |
| Amounts payable | 17/49 | €179,865 | €135,917 | -€43,948 | -24.4% |
| Amounts payable within one year | 42/48 | €175,551 | €135,917 | -€39,635 | -22.6% |
| Current portion of amounts payable after more than one year | 42 | €38,110 | - | -€38,110 | |
| Trade debts | 44 | €1,622 | €97 | -€1,525 | -94.0% |
| Suppliers | 440/4 | €1,622 | €97 | -€1,525 | -94.0% |
| Other amounts payable | 47/48 | €135,820 | €135,820 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €4,313 | - | -€4,313 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,173 | €20,173 | = | 0.0% |
| Other operating charges | 640/8 | €5,892 | €5,681 | -€212 | -3.6% |
| Gross operating margin | 9900 | €54,667 | €53,099 | -€1,568 | -2.9% |
| Operating profit (loss) | 9901 | €28,602 | €27,245 | -€1,357 | -4.7% |
| Financial charges | 65/66B | €7,427 | €812 | -€6,614 | -89.1% |
| Recurring financial charges | 65 | €7,427 | €812 | -€6,614 | -89.1% |
| Profit (loss) for the period before taxes | 9903 | €21,176 | €26,433 | +€5,258 | +24.8% |
| Income taxes | 67/77 | - | €10,000 | +€10,000 | |
| Profit (loss) for the period | 9904 | €21,176 | €16,433 | -€4,742 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,176 | €16,433 | -€4,742 | -22.4% |
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 9 October 2026 via checked.be.