IMARAY: 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.
IMARAY
Largest movements
- Cash -€1,032
down €1,032 (-6.3%), from €16,419 to €15,387
mainly Net result for the year (-€1,690) and Tax, wage and social debts (-€44)
- Intangible fixed assets -€702
down €702 (-31.9%), from €2,202 to €1,500
- Profit (loss) carried forward -€1,690
down €1,690 (-78.5%), from €2,153 to €463
- Gross operating margin -€3,818
down €3,818, from €2,877 to -€942
- Taxes -€424
no longer reported in 2025 (was €424)
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 | €18,621 | €16,887 | -€1,734 | -9.3% |
| Fixed assets | 21/28 | €2,202 | €1,500 | -€702 | -31.9% |
| Intangible fixed assets | 21 | €2,202 | €1,500 | -€702 | -31.9% |
| Current assets | 29/58 | €16,419 | €15,387 | -€1,032 | -6.3% |
| Cash at bank and in hand | 54/58 | €16,419 | €15,387 | -€1,032 | -6.3% |
| Total equity and liabilities | 10/49 | €18,621 | €16,887 | -€1,734 | -9.3% |
| Equity | 10/15 | €18,153 | €16,463 | -€1,690 | -9.3% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,153 | €463 | -€1,690 | -78.5% |
| Amounts payable | 17/49 | €468 | €424 | -€44 | -9.4% |
| Amounts payable within one year | 42/48 | €468 | €424 | -€44 | -9.4% |
| Taxes, remuneration and social security | 45 | €468 | €424 | -€44 | -9.4% |
| Taxes | 450/3 | €468 | €424 | -€44 | -9.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €702 | €702 | = | 0.0% |
| Gross operating margin | 9900 | €2,877 | -€942 | -€3,818 | |
| Operating profit (loss) | 9901 | €2,175 | -€1,644 | -€3,818 | |
| Financial charges | 65/66B | €54 | €46 | -€8 | -14.6% |
| Recurring financial charges | 65 | €54 | €46 | -€8 | -14.6% |
| Profit (loss) for the period before taxes | 9903 | €2,121 | -€1,690 | -€3,810 | |
| Income taxes | 67/77 | €424 | - | -€424 | |
| Profit (loss) for the period | 9904 | €1,696 | -€1,690 | -€3,386 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,696 | -€1,690 | -€3,386 |
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 11 October 2026 via checked.be.