IMAP: 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.
IMAP
Largest movements
- Cash +€16,141
up €16,141 (+77.9%), from €20,714 to €36,855
mainly Accrued charges and deferred income (+€27,906) and Depreciation (+€9,556)
- Receivables within one year +€15,043
up €15,043 (+127%), from €11,818 to €26,860
of which Trade receivables: +€14,905
- Tangible fixed assets -€6,098
down €6,098 (-20.7%), from €29,474 to €23,376
- Intangible fixed assets -€3,071
down €3,071 (-30.5%), from €10,078 to €7,007
- Deferred charges and accrued income +€1,791
up €1,791 (+27.9%), from €6,418 to €8,210
- Accrued charges and deferred income +€27,906
up €27,906 (+8,331%), from €335 to €28,241
- Tax, wage and social debts +€7,387
up €7,387 (+163%), from €4,543 to €11,930
of which Remuneration and social security: +€7,001
- Trade debts +€7,355
up €7,355 (+32.2%), from €22,828 to €30,182
- Current portion of long-term debt -€6,772
down €6,772 (-57.2%), from €11,839 to €5,067
- Debts after one year -€5,067
down €5,067 (-31.7%), from €15,992 to €10,925
- Other operating charges +€7,271
up €7,271 (+482%), from €1,509 to €8,779
- Gross operating margin +€3,901
up €3,901 (+9.0%), from €43,118 to €47,019
- Depreciation +€2,537
up €2,537 (+36.1%), from €7,019 to €9,556
- Financial charges -€1,029
down €1,029 (-51.2%), from €2,008 to €979
- Staff costs -€481
down €481 (-1.4%), from €33,713 to €33,232
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.
Derived cash bridge
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 | €80,368 | €104,336 | +€23,968 | +29.8% |
| Formation expenses | 20 | €1,174 | €788 | -€387 | -32.9% |
| Fixed assets | 21/28 | €39,552 | €30,383 | -€9,169 | -23.2% |
| Intangible fixed assets | 21 | €10,078 | €7,007 | -€3,071 | -30.5% |
| Tangible fixed assets | 22/27 | €29,474 | €23,376 | -€6,098 | -20.7% |
| Plant, machinery and equipment | 23 | €29,474 | €23,376 | -€6,098 | -20.7% |
| Current assets | 29/58 | €39,642 | €73,166 | +€33,524 | +84.6% |
| Stocks and contracts in progress | 3 | €692 | €1,240 | +€548 | +79.2% |
| Stocks | 30/36 | €692 | €1,240 | +€548 | +79.2% |
| Amounts receivable within one year | 40/41 | €11,818 | €26,860 | +€15,043 | +127% |
| Trade receivables | 40 | €9,206 | €24,111 | +€14,905 | +162% |
| Other amounts receivable | 41 | €2,612 | €2,749 | +€138 | +5.3% |
| Cash at bank and in hand | 54/58 | €20,714 | €36,855 | +€16,141 | +77.9% |
| Deferred charges and accrued income | 490/1 | €6,418 | €8,210 | +€1,791 | +27.9% |
| Total equity and liabilities | 10/49 | €80,368 | €104,336 | +€23,968 | +29.8% |
| Equity | 10/15 | €14,239 | €8,760 | -€5,479 | -38.5% |
| Contributions | 10/11 | €12,000 | €12,000 | = | 0.0% |
| Reserves | 13 | €2,239 | - | -€2,239 | |
| Distributable reserves | 133 | €2,239 | - | -€2,239 | |
| Profit (loss) carried forward | 14 | - | -€3,240 | -€3,240 | |
| Amounts payable | 17/49 | €66,129 | €95,576 | +€29,447 | +44.5% |
| Amounts payable after more than one year | 17 | €15,992 | €10,925 | -€5,067 | -31.7% |
| Financial debts | 170/4 | €15,992 | €10,925 | -€5,067 | -31.7% |
| Amounts payable within one year | 42/48 | €49,803 | €56,411 | +€6,608 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €11,839 | €5,067 | -€6,772 | -57.2% |
| Trade debts | 44 | €22,828 | €30,182 | +€7,355 | +32.2% |
| Suppliers | 440/4 | €22,828 | €30,182 | +€7,355 | +32.2% |
| Taxes, remuneration and social security | 45 | €4,543 | €11,930 | +€7,387 | +163% |
| Taxes | 450/3 | €246 | €632 | +€386 | +157% |
| Remuneration and social security | 454/9 | €4,297 | €11,298 | +€7,001 | +163% |
| Other amounts payable | 47/48 | €10,593 | €9,231 | -€1,362 | -12.9% |
| Accrued charges and deferred income | 492/3 | €335 | €28,241 | +€27,906 | +8,331% |
| Remuneration, social security and pensions | 62 | €33,713 | €33,232 | -€481 | -1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,019 | €9,556 | +€2,537 | +36.1% |
| Other operating charges | 640/8 | €1,509 | €8,779 | +€7,271 | +482% |
| Gross operating margin | 9900 | €43,118 | €47,019 | +€3,901 | +9.0% |
| Operating profit (loss) | 9901 | €877 | -€4,548 | -€5,425 | |
| Financial income | 75/76B | €3 | €48 | +€45 | +1,500% |
| Recurring financial income | 75 | €3 | €48 | +€45 | +1,500% |
| Financial charges | 65/66B | €2,008 | €979 | -€1,029 | -51.2% |
| Recurring financial charges | 65 | €2,008 | €979 | -€1,029 | -51.2% |
| Profit (loss) for the period before taxes | 9903 | -€1,128 | -€5,479 | -€4,351 | -386% |
| Income taxes | 67/77 | €18 | - | -€18 | |
| Profit (loss) for the period | 9904 | -€1,145 | -€5,479 | -€4,334 | -378% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,145 | -€5,479 | -€4,334 | -378% |
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 15 October 2026 via checked.be.