IMALI: 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.
IMALI
Largest movements
- Tangible fixed assets +€1.2m
up €1.2m (+149.3%), from €770,893 to €1.9m
of which Land and buildings: +€1.1m
- Receivables after one year +€1.1m
new in 2025: €1.1m
- Financial fixed assets +€213,248
up €213,248 (+34.6%), from €616,763 to €830,011
- Current investments -€93,280
down €93,280 (-82.4%), from €113,186 to €19,907
- Cash +€78,955
up €78,955 (+1057.9%), from €7,463 to €86,418
mainly Net result for the year (+€1.5m) and Debts after one year (+€1.3m)
- Reserves +€1.6m
up €1.6m (+7869.0%), from €19,871 to €1.6m
- Debts after one year +€1.3m
up €1.3m (+145.9%), from €904,447 to €2.2m
- Revaluation surpluses -€245,765
down €245,765 (-100.0%), from €245,765 to €0
- Other debts -€157,743
down €157,743 (-98.6%), from €160,000 to €2,258
- Financial income +€1.6m
up €1.6m (+143611.9%), from €1,098 to €1.6m
of which Financial income: +€1.5m
- Depreciation +€155,306
up €155,306 (+298.9%), from €51,951 to €207,257
- Gross operating margin -€45,048
down €45,048 (-18.5%), from €243,034 to €197,986
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 | €1,537,267 | €3,991,981 | +€2.5m | +159.7% |
| Fixed assets | 21/28 | €1,389,071 | €2,752,663 | +€1.4m | +98.2% |
| Intangible fixed assets | 21 | €1,415 | €1,034 | -€381 | -26.9% |
| Tangible fixed assets | 22/27 | €770,893 | €1,921,618 | +€1.2m | +149.3% |
| Land and buildings | 22 | €717,775 | €1,865,731 | +€1.1m | +159.9% |
| Plant, machinery and equipment | 23 | €14,821 | €14,821 | = | 0.0% |
| Furniture and vehicles | 24 | €33,347 | €36,116 | +€2,769 | +8.3% |
| Other tangible fixed assets | 26 | €4,950 | €4,950 | = | 0.0% |
| Financial fixed assets | 28 | €616,763 | €830,011 | +€213,248 | +34.6% |
| Current assets | 29/58 | €148,196 | €1,239,318 | +€1.1m | +736.3% |
| Amounts receivable after more than one year | 29 | - | €1,098,220 | +€1.1m | |
| Other amounts receivable | 291 | - | €1,098,220 | +€1.1m | |
| Amounts receivable within one year | 40/41 | €27,546 | €34,773 | +€7,227 | +26.2% |
| Trade receivables | 40 | €10,409 | €19,304 | +€8,895 | +85.5% |
| Other amounts receivable | 41 | €17,137 | €15,469 | -€1,668 | -9.7% |
| Current investments | 50/53 | €113,186 | €19,907 | -€93,280 | -82.4% |
| Cash at bank and in hand | 54/58 | €7,463 | €86,418 | +€78,955 | +1057.9% |
| Total equity and liabilities | 10/49 | €1,537,267 | €3,991,981 | +€2.5m | +159.7% |
| Equity | 10/15 | €303,795 | €1,602,156 | +€1.3m | +427.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €245,765 | €0 | -€245,765 | -100.0% |
| Reserves | 13 | €19,871 | €1,583,556 | +€1.6m | +7869.0% |
| Distributable reserves | 133 | €19,871 | €1,583,556 | +€1.6m | +7869.0% |
| Profit (loss) carried forward | 14 | €19,559 | €0 | -€19,559 | -100.0% |
| Amounts payable | 17/49 | €1,233,472 | €2,389,824 | +€1.2m | +93.7% |
| Amounts payable after more than one year | 17 | €904,447 | €2,223,742 | +€1.3m | +145.9% |
| Financial debts | 170/4 | €904,447 | €2,223,742 | +€1.3m | +145.9% |
| Amounts payable within one year | 42/48 | €329,025 | €166,082 | -€162,942 | -49.5% |
| Current portion of amounts payable after more than one year | 42 | €51,909 | €51,887 | -€22 | 0.0% |
| Financial debts | 43 | €562 | €500 | -€62 | -11.0% |
| Credit institutions | 430/8 | €562 | €500 | -€62 | -11.0% |
| Trade debts | 44 | €112,612 | €110,661 | -€1,951 | -1.7% |
| Suppliers | 440/4 | €112,612 | €110,661 | -€1,951 | -1.7% |
| Taxes, remuneration and social security | 45 | €3,942 | €777 | -€3,165 | -80.3% |
| Taxes | 450/3 | €3,780 | €615 | -€3,165 | -83.7% |
| Remuneration and social security | 454/9 | €161 | €161 | = | 0.0% |
| Other amounts payable | 47/48 | €160,000 | €2,258 | -€157,743 | -98.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,951 | €207,257 | +€155,306 | +298.9% |
| Other operating charges | 640/8 | €3,199 | €5,396 | +€2,196 | +68.7% |
| Gross operating margin | 9900 | €243,034 | €197,986 | -€45,048 | -18.5% |
| Operating profit (loss) | 9901 | €187,884 | -€14,667 | -€202,551 | |
| Financial income | 75/76B | €1,098 | €1,577,828 | +€1.6m | +143611.9% |
| Recurring financial income | 75 | €1,098 | €1,504,401 | +€1.5m | +136924.1% |
| Non-recurring financial income | 76B | - | €73,427 | +€73,427 | |
| Financial charges | 65/66B | €15,005 | €16,938 | +€1,933 | +12.9% |
| Recurring financial charges | 65 | €15,005 | €16,938 | +€1,933 | +12.9% |
| Profit (loss) for the period before taxes | 9903 | €173,977 | €1,546,223 | +€1.4m | +788.8% |
| Income taxes | 67/77 | €1,611 | €2,098 | +€486 | +30.2% |
| Profit (loss) for the period | 9904 | €172,365 | €1,544,126 | +€1.4m | +795.8% |
| Profit (loss) for the period to be appropriated | 9905 | €172,365 | €1,544,126 | +€1.4m | +795.8% |
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.