IMARQ: 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.
IMARQ
Largest movements
- Tangible fixed assets -€10,675
down €10,675 (-26.6%), from €40,120 to €29,445
of which Furniture and vehicles: -€10,462
- Receivables within one year +€9,835
up €9,835 (+42.9%), from €22,951 to €32,786
of which Trade receivables: +€10,842
- Cash -€1,792
down €1,792 (-8.7%), from €20,642 to €18,850
mainly Contributions, distributions and other (-€29,725) and Receivables within one year (-€9,835)
- Other debts +€31,377
up €31,377 (+1206.7%), from €2,600 to €33,977
- Profit (loss) carried forward -€27,988
down €27,988 (-100.0%), from €27,988 to €0
- Debts after one year -€8,676
down €8,676 (-35.0%), from €24,776 to €16,100
- Trade debts +€1,947
up €1,947 (+622.4%), from €313 to €2,259
- Depreciation -€5,296
down €5,296 (-33.2%), from €15,971 to €10,675
- Taxes +€894
up €894 (+78.4%), from €1,140 to €2,035
- Financial charges -€700
down €700 (-29.3%), from €2,384 to €1,684
- Other operating charges -€324
down €324 (-41.8%), from €775 to €451
- Gross operating margin +€256
up €256 (+1.6%), from €16,326 to €16,582
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 | €85,816 | €83,258 | -€2,559 | -3.0% |
| Fixed assets | 21/28 | €40,120 | €29,445 | -€10,675 | -26.6% |
| Tangible fixed assets | 22/27 | €40,120 | €29,445 | -€10,675 | -26.6% |
| Plant, machinery and equipment | 23 | €1,052 | €839 | -€213 | -20.2% |
| Furniture and vehicles | 24 | €39,067 | €28,605 | -€10,462 | -26.8% |
| Current assets | 29/58 | €45,697 | €53,813 | +€8,116 | +17.8% |
| Amounts receivable within one year | 40/41 | €22,951 | €32,786 | +€9,835 | +42.9% |
| Trade receivables | 40 | €103 | €10,944 | +€10,842 | +10541.2% |
| Other amounts receivable | 41 | €22,848 | €21,842 | -€1,006 | -4.4% |
| Cash at bank and in hand | 54/58 | €20,642 | €18,850 | -€1,792 | -8.7% |
| Deferred charges and accrued income | 490/1 | €2,103 | €2,177 | +€73 | +3.5% |
| Total equity and liabilities | 10/49 | €85,816 | €83,258 | -€2,559 | -3.0% |
| Equity | 10/15 | €48,448 | €20,460 | -€27,988 | -57.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,988 | €0 | -€27,988 | -100.0% |
| Amounts payable | 17/49 | €37,368 | €62,798 | +€25,430 | +68.1% |
| Amounts payable after more than one year | 17 | €24,776 | €16,100 | -€8,676 | -35.0% |
| Financial debts | 170/4 | €24,776 | €16,100 | -€8,676 | -35.0% |
| Amounts payable within one year | 42/48 | €12,592 | €46,683 | +€34,091 | +270.7% |
| Current portion of amounts payable after more than one year | 42 | €8,315 | €8,676 | +€361 | +4.3% |
| Trade debts | 44 | €313 | €2,259 | +€1,947 | +622.4% |
| Suppliers | 440/4 | €313 | €2,259 | +€1,947 | +622.4% |
| Taxes, remuneration and social security | 45 | €1,364 | €1,770 | +€406 | +29.8% |
| Taxes | 450/3 | €1,364 | €1,770 | +€406 | +29.8% |
| Other amounts payable | 47/48 | €2,600 | €33,977 | +€31,377 | +1206.7% |
| Accrued charges and deferred income | 492/3 | - | €15 | +€15 | |
| Non-recurring operating income | 76A | €453 | €0 | -€453 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,971 | €10,675 | -€5,296 | -33.2% |
| Other operating charges | 640/8 | €775 | €451 | -€324 | -41.8% |
| Gross operating margin | 9900 | €16,326 | €16,582 | +€256 | +1.6% |
| Operating profit (loss) | 9901 | -€420 | €5,455 | +€5,876 | |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,384 | €1,684 | -€700 | -29.3% |
| Recurring financial charges | 65 | €2,384 | €1,684 | -€700 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,804 | €3,771 | +€6,575 | |
| Income taxes | 67/77 | €1,140 | €2,035 | +€894 | +78.4% |
| Profit (loss) for the period | 9904 | -€3,945 | €1,736 | +€5,681 | |
| Profit (loss) for the period to be appropriated | 9905 | -€3,945 | €1,736 | +€5,681 |
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 30 September 2026 via checked.be.