IMASO: 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.
IMASO
Largest movements
- Tangible fixed assets -€73,544
down €73,544 (-25.6%), from €287,805 to €214,261
of which Land and buildings: -€72,002
- Current investments +€30,000
up €30,000 (+20.7%), from €145,000 to €175,000
- Cash +€21,326
up €21,326 (+111.5%), from €19,131 to €40,457
mainly Depreciation (+€74,421) and Net result for the year (+€38,572)
- Debts after one year -€63,333
down €63,333 (-27.0%), from €234,611 to €171,278
of which Financial debts: -€63,333
- Profit (loss) carried forward +€38,572
up €38,572, from -€38,162 to €410
- Gross operating margin +€9,820
up €9,820 (+8.6%), from €114,257 to €124,077
- Taxes +€1,581
new in 2026: €1,581
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €461,468 | €434,847 | -€26,622 | -5.8% |
| Fixed assets | 21/28 | €287,805 | €214,261 | -€73,544 | -25.6% |
| Tangible fixed assets | 22/27 | €287,805 | €214,261 | -€73,544 | -25.6% |
| Land and buildings | 22 | €281,667 | €209,665 | -€72,002 | -25.6% |
| Plant, machinery and equipment | 23 | €4,204 | €3,566 | -€638 | -15.2% |
| Furniture and vehicles | 24 | €1,372 | €690 | -€683 | -49.7% |
| Other tangible fixed assets | 26 | €562 | €341 | -€221 | -39.4% |
| Current assets | 29/58 | €173,663 | €220,585 | +€46,922 | +27.0% |
| Amounts receivable within one year | 40/41 | €1,195 | - | -€1,195 | |
| Other amounts receivable | 41 | €1,195 | - | -€1,195 | |
| Current investments | 50/53 | €145,000 | €175,000 | +€30,000 | +20.7% |
| Cash at bank and in hand | 54/58 | €19,131 | €40,457 | +€21,326 | +111.5% |
| Deferred charges and accrued income | 490/1 | €8,337 | €5,128 | -€3,209 | -38.5% |
| Total equity and liabilities | 10/49 | €461,468 | €434,847 | -€26,622 | -5.8% |
| Equity | 10/15 | €136,838 | €175,410 | +€38,572 | +28.2% |
| Contributions | 10/11 | €175,000 | €175,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€38,162 | €410 | +€38,572 | |
| Amounts payable | 17/49 | €324,630 | €259,436 | -€65,194 | -20.1% |
| Amounts payable after more than one year | 17 | €234,611 | €171,278 | -€63,333 | -27.0% |
| Financial debts | 170/4 | €233,611 | €170,278 | -€63,333 | -27.1% |
| Other amounts payable | 178/9 | €1,000 | €1,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €75,882 | €76,700 | +€818 | +1.1% |
| Current portion of amounts payable after more than one year | 42 | €63,333 | €63,333 | = | 0.0% |
| Trade debts | 44 | €264 | €858 | +€595 | +225.6% |
| Suppliers | 440/4 | €264 | €858 | +€595 | +225.6% |
| Taxes, remuneration and social security | 45 | €741 | €1,151 | +€411 | +55.5% |
| Taxes | 450/3 | €741 | €1,151 | +€411 | +55.5% |
| Other amounts payable | 47/48 | €11,545 | €11,357 | -€188 | -1.6% |
| Accrued charges and deferred income | 492/3 | €14,137 | €11,458 | -€2,679 | -18.9% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,846 | €74,421 | -€425 | -0.6% |
| Other operating charges | 640/8 | €3,570 | €3,679 | +€109 | +3.0% |
| Non-recurring operating charges | 66A | - | €53 | +€53 | |
| Gross operating margin | 9900 | €114,257 | €124,077 | +€9,820 | +8.6% |
| Operating profit (loss) | 9901 | €35,841 | €45,925 | +€10,084 | +28.1% |
| Financial income | 75/76B | €3,983 | €3,061 | -€922 | -23.1% |
| Recurring financial income | 75 | €3,983 | €3,061 | -€922 | -23.1% |
| Financial charges | 65/66B | €9,852 | €8,833 | -€1,019 | -10.3% |
| Recurring financial charges | 65 | €9,852 | €8,833 | -€1,019 | -10.3% |
| Profit (loss) for the period before taxes | 9903 | €29,972 | €40,153 | +€10,181 | +34.0% |
| Income taxes | 67/77 | - | €1,581 | +€1,581 | |
| Profit (loss) for the period | 9904 | €29,972 | €38,572 | +€8,600 | +28.7% |
| Profit (loss) for the period to be appropriated | 9905 | €29,972 | €38,572 | +€8,600 | +28.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.