IMARAD: 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.
IMARAD
Largest movements
- Cash +€426,340
up €426,340 (+93.2%), from €457,283 to €883,623
mainly Net result for the year (+€288,040) and Other debts (+€254,638)
- Current investments -€223,397
down €223,397 (-35.5%), from €630,064 to €406,667
- Deferred charges and accrued income +€110,758
up €110,758 (+20,101%), from €551 to €111,309
- Other debts +€254,638
up €254,638 (+10,094%), from €2,523 to €257,161
- Reserves +€26,669
up €26,669 (+2.6%), from €1.0m to €1.1m
of which Distributable reserves: +€26,669
- Tax, wage and social debts +€20,084
up €20,084 (+34.0%), from €59,112 to €79,195
- Financial charges -€88,882
down €88,882 (-47.5%), from €187,246 to €98,364
- Gross operating margin -€34,738
down €34,738 (-6.2%), from €556,294 to €521,556
- Taxes +€23,450
up €23,450 (+21.1%), from €111,159 to €134,609
- Depreciation -€8,306
down €8,306 (-37.8%), from €21,953 to €13,647
- Financial income +€6,491
up €6,491 (+80.6%), from €8,058 to €14,548
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 | €1,127,418 | €1,429,193 | +€301,776 | +26.8% |
| Fixed assets | 21/28 | €29,745 | €17,795 | -€11,950 | -40.2% |
| Intangible fixed assets | 21 | €18,910 | €10,848 | -€8,063 | -42.6% |
| Tangible fixed assets | 22/27 | €10,834 | €6,947 | -€3,887 | -35.9% |
| Furniture and vehicles | 24 | €6,229 | €4,047 | -€2,182 | -35.0% |
| Other tangible fixed assets | 26 | €4,606 | €2,900 | -€1,705 | -37.0% |
| Current assets | 29/58 | €1,097,673 | €1,411,398 | +€313,725 | +28.6% |
| Amounts receivable within one year | 40/41 | €9,775 | €9,800 | +€25 | +0.3% |
| Other amounts receivable | 41 | €9,775 | €9,800 | +€25 | +0.3% |
| Current investments | 50/53 | €630,064 | €406,667 | -€223,397 | -35.5% |
| Cash at bank and in hand | 54/58 | €457,283 | €883,623 | +€426,340 | +93.2% |
| Deferred charges and accrued income | 490/1 | €551 | €111,309 | +€110,758 | +20,101% |
| Total equity and liabilities | 10/49 | €1,127,418 | €1,429,193 | +€301,776 | +26.8% |
| Equity | 10/15 | €1,058,925 | €1,085,595 | +€26,669 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,040,325 | €1,066,995 | +€26,669 | +2.6% |
| Non-distributable reserves | 130/1 | €21,431 | €21,431 | = | 0.0% |
| Reserves not available under the articles | 1311 | €21,431 | €21,431 | = | 0.0% |
| Distributable reserves | 133 | €1,018,894 | €1,045,564 | +€26,669 | +2.6% |
| Amounts payable | 17/49 | €68,493 | €343,599 | +€275,106 | +402% |
| Amounts payable within one year | 42/48 | €68,493 | €343,599 | +€275,106 | +402% |
| Trade debts | 44 | €6,858 | €7,243 | +€385 | +5.6% |
| Suppliers | 440/4 | €6,858 | €7,243 | +€385 | +5.6% |
| Taxes, remuneration and social security | 45 | €59,112 | €79,195 | +€20,084 | +34.0% |
| Taxes | 450/3 | €59,112 | €79,195 | +€20,084 | +34.0% |
| Other amounts payable | 47/48 | €2,523 | €257,161 | +€254,638 | +10,094% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,953 | €13,647 | -€8,306 | -37.8% |
| Other operating charges | 640/8 | €2,707 | €1,445 | -€1,263 | -46.6% |
| Gross operating margin | 9900 | €556,294 | €521,556 | -€34,738 | -6.2% |
| Operating profit (loss) | 9901 | €531,634 | €506,464 | -€25,169 | -4.7% |
| Financial income | 75/76B | €8,058 | €14,548 | +€6,491 | +80.6% |
| Recurring financial income | 75 | €8,058 | €14,548 | +€6,491 | +80.6% |
| Financial charges | 65/66B | €187,246 | €98,364 | -€88,882 | -47.5% |
| Recurring financial charges | 65 | €187,246 | €98,364 | -€88,882 | -47.5% |
| Profit (loss) for the period before taxes | 9903 | €352,445 | €422,649 | +€70,203 | +19.9% |
| Income taxes | 67/77 | €111,159 | €134,609 | +€23,450 | +21.1% |
| Profit (loss) for the period | 9904 | €241,286 | €288,040 | +€46,754 | +19.4% |
| Profit (loss) for the period to be appropriated | 9905 | €241,286 | €288,040 | +€46,754 | +19.4% |
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 13 October 2026 via checked.be.