IMAS VASTGOED: 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.
IMAS VASTGOED
Largest movements
- Receivables after one year +€60,270
up €60,270 (+37.3%), from €161,390 to €221,660
- Receivables within one year +€51,070
up €51,070 (+246%), from €20,728 to €71,798
of which Trade receivables: +€47,856
- Cash -€19,390
down €19,390 (-37.9%), from €51,177 to €31,788
mainly Receivables after one year (-€60,270) and Receivables within one year (-€51,070)
- Reserves +€92,434
up €92,434 (+23.7%), from €390,082 to €482,516
- Debts after one year -€37,219
down €37,219 (-16.5%), from €225,359 to €188,140
- Other debts +€30,263
up €30,263 (+1,170%), from €2,586 to €32,849
- Gross operating margin +€43,555
up €43,555 (+48.1%), from €90,643 to €134,199
- Taxes +€5,969
up €5,969 (+29.4%), from €20,317 to €26,286
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 | €682,085 | €772,403 | +€90,318 | +13.2% |
| Fixed assets | 21/28 | €446,377 | €444,124 | -€2,254 | -0.5% |
| Tangible fixed assets | 22/27 | €207,504 | €205,251 | -€2,254 | -1.1% |
| Land and buildings | 22 | €198,000 | €198,000 | = | 0.0% |
| Furniture and vehicles | 24 | €6,370 | €4,498 | -€1,872 | -29.4% |
| Other tangible fixed assets | 26 | €3,134 | €2,752 | -€382 | -12.2% |
| Financial fixed assets | 28 | €238,873 | €238,873 | = | 0.0% |
| Current assets | 29/58 | €235,707 | €328,279 | +€92,572 | +39.3% |
| Amounts receivable after more than one year | 29 | €161,390 | €221,660 | +€60,270 | +37.3% |
| Other amounts receivable | 291 | €161,390 | €221,660 | +€60,270 | +37.3% |
| Amounts receivable within one year | 40/41 | €20,728 | €71,798 | +€51,070 | +246% |
| Trade receivables | 40 | €20,728 | €68,584 | +€47,856 | +231% |
| Other amounts receivable | 41 | - | €3,214 | +€3,214 | |
| Cash at bank and in hand | 54/58 | €51,177 | €31,788 | -€19,390 | -37.9% |
| Deferred charges and accrued income | 490/1 | €2,412 | €3,034 | +€622 | +25.8% |
| Total equity and liabilities | 10/49 | €682,085 | €772,403 | +€90,318 | +13.2% |
| Equity | 10/15 | €408,682 | €501,116 | +€92,434 | +22.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €390,082 | €482,516 | +€92,434 | +23.7% |
| Distributable reserves | 133 | €390,082 | €482,516 | +€92,434 | +23.7% |
| Amounts payable | 17/49 | €273,402 | €271,287 | -€2,115 | -0.8% |
| Amounts payable after more than one year | 17 | €225,359 | €188,140 | -€37,219 | -16.5% |
| Financial debts | 170/4 | €225,359 | €188,140 | -€37,219 | -16.5% |
| Amounts payable within one year | 42/48 | €41,209 | €75,100 | +€33,892 | +82.2% |
| Current portion of amounts payable after more than one year | 42 | €12,031 | €12,207 | +€176 | +1.5% |
| Trade debts | 44 | €5,925 | €5,780 | -€145 | -2.5% |
| Suppliers | 440/4 | €5,925 | €5,780 | -€145 | -2.5% |
| Taxes, remuneration and social security | 45 | €20,666 | €24,264 | +€3,598 | +17.4% |
| Taxes | 450/3 | €18,366 | €21,964 | +€3,598 | +19.6% |
| Remuneration and social security | 454/9 | €2,300 | €2,300 | = | 0.0% |
| Other amounts payable | 47/48 | €2,586 | €32,849 | +€30,263 | +1,170% |
| Accrued charges and deferred income | 492/3 | €6,835 | €8,047 | +€1,213 | +17.7% |
| Non-recurring operating income | 76A | €8,960 | €0 | -€8,960 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,133 | €2,254 | +€121 | +5.6% |
| Other operating charges | 640/8 | €837 | €1,158 | +€321 | +38.3% |
| Gross operating margin | 9900 | €90,643 | €134,199 | +€43,555 | +48.1% |
| Operating profit (loss) | 9901 | €87,673 | €130,787 | +€43,114 | +49.2% |
| Financial income | 75/76B | €0 | €8 | +€8 | +42,000% |
| Recurring financial income | 75 | €0 | €8 | +€8 | +42,000% |
| Financial charges | 65/66B | €11,004 | €12,076 | +€1,072 | +9.7% |
| Recurring financial charges | 65 | €11,004 | €12,076 | +€1,072 | +9.7% |
| Profit (loss) for the period before taxes | 9903 | €76,669 | €118,720 | +€42,050 | +54.8% |
| Income taxes | 67/77 | €20,317 | €26,286 | +€5,969 | +29.4% |
| Profit (loss) for the period | 9904 | €56,353 | €92,434 | +€36,081 | +64.0% |
| Profit (loss) for the period to be appropriated | 9905 | €56,353 | €92,434 | +€36,081 | +64.0% |
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 25 October 2026 via checked.be.