IMAMAM: 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.
IMAMAM
Largest movements
- Tangible fixed assets +€155,079
up €155,079 (+11.4%), from €1.4m to €1.5m
of which Land and buildings: +€117,713
- Receivables within one year +€48,774
up €48,774 (+1093.2%), from €4,462 to €53,236
of which Trade receivables: +€41,875
- Other debts +€183,106
up €183,106 (+40.4%), from €453,522 to €636,627
- Profit (loss) carried forward -€77,841
down €77,841 (-54271.3%), from -€143 to -€77,985
- Debts after one year +€64,478
up €64,478 (+7.5%), from €856,691 to €921,169
- Current portion of long-term debt +€28,356
up €28,356 (+102.9%), from €27,563 to €55,919
- Gross operating margin -€23,670
down €23,670 (-52.3%), from €45,300 to €21,630
- Financial charges +€20,384
up €20,384 (+191.3%), from €10,655 to €31,039
- Depreciation +€5,695
up €5,695 (+10.4%), from €54,886 to €60,581
- Other operating charges +€2,272
up €2,272 (+58.7%), from €3,871 to €6,142
- Taxes +€1,734
new in 2025: €1,734
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 | €1,368,639 | €1,574,191 | +€205,553 | +15.0% |
| Fixed assets | 21/28 | €1,360,227 | €1,515,306 | +€155,079 | +11.4% |
| Tangible fixed assets | 22/27 | €1,360,227 | €1,515,306 | +€155,079 | +11.4% |
| Land and buildings | 22 | €1,324,959 | €1,442,672 | +€117,713 | +8.9% |
| Plant, machinery and equipment | 23 | €501 | €297 | -€204 | -40.7% |
| Furniture and vehicles | 24 | €34,766 | €72,337 | +€37,571 | +108.1% |
| Current assets | 29/58 | €8,412 | €58,885 | +€50,473 | +600.0% |
| Amounts receivable within one year | 40/41 | €4,462 | €53,236 | +€48,774 | +1093.2% |
| Trade receivables | 40 | - | €41,875 | +€41,875 | |
| Other amounts receivable | 41 | €4,462 | €11,361 | +€6,899 | +154.6% |
| Cash at bank and in hand | 54/58 | €1,634 | €3,172 | +€1,538 | +94.2% |
| Deferred charges and accrued income | 490/1 | €2,316 | €2,477 | +€161 | +6.9% |
| Total equity and liabilities | 10/49 | €1,368,639 | €1,574,191 | +€205,553 | +15.0% |
| Equity | 10/15 | €4,857 | -€72,985 | -€77,841 | |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€143 | -€77,985 | -€77,841 | -54271.3% |
| Amounts payable | 17/49 | €1,363,782 | €1,647,176 | +€283,394 | +20.8% |
| Amounts payable after more than one year | 17 | €856,691 | €921,169 | +€64,478 | +7.5% |
| Financial debts | 170/4 | €856,691 | €921,169 | +€64,478 | +7.5% |
| Amounts payable within one year | 42/48 | €507,091 | €726,007 | +€218,915 | +43.2% |
| Current portion of amounts payable after more than one year | 42 | €27,563 | €55,919 | +€28,356 | +102.9% |
| Trade debts | 44 | €19,000 | €26,972 | +€7,972 | +42.0% |
| Suppliers | 440/4 | €19,000 | €26,972 | +€7,972 | +42.0% |
| Advances received on contracts in progress | 46 | €6,314 | €6,489 | +€175 | +2.8% |
| Taxes, remuneration and social security | 45 | €693 | - | -€693 | |
| Taxes | 450/3 | €693 | - | -€693 | |
| Other amounts payable | 47/48 | €453,522 | €636,627 | +€183,106 | +40.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,886 | €60,581 | +€5,695 | +10.4% |
| Other operating charges | 640/8 | €3,871 | €6,142 | +€2,272 | +58.7% |
| Gross operating margin | 9900 | €45,300 | €21,630 | -€23,670 | -52.3% |
| Operating profit (loss) | 9901 | -€13,458 | -€45,094 | -€31,636 | -235.1% |
| Financial income | 75/76B | €126 | €25 | -€101 | -80.4% |
| Recurring financial income | 75 | €126 | €25 | -€101 | -80.4% |
| Financial charges | 65/66B | €10,655 | €31,039 | +€20,384 | +191.3% |
| Recurring financial charges | 65 | €10,655 | €31,039 | +€20,384 | +191.3% |
| Profit (loss) for the period before taxes | 9903 | -€23,987 | -€76,108 | -€52,121 | -217.3% |
| Income taxes | 67/77 | - | €1,734 | +€1,734 | |
| Profit (loss) for the period | 9904 | -€23,987 | -€77,841 | -€53,855 | -224.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€23,987 | -€77,841 | -€53,855 | -224.5% |
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.