Imatex: 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.
Imatex
Largest movements
- Stocks and contracts -€388,491
down €388,491 (-34.0%), from €1.1m to €752,954
- Tangible fixed assets +€230,982
up €230,982 (+35.4%), from €652,996 to €883,978
of which Plant, machinery and equipment: +€207,302
- Receivables within one year -€186,990
down €186,990 (-18.5%), from €1.0m to €823,030
of which Trade receivables: -€167,134
- Cash +€125,371
up €125,371 (+14.8%), from €848,757 to €974,128
mainly Stocks and contracts (+€388,491) and Receivables within one year (+€186,990)
- Deferred charges and accrued income +€70,289
up €70,289 (+146.2%), from €48,077 to €118,366
- Reserves +€121,000
up €121,000 (+96.3%), from €125,591 to €246,591
of which Distributable reserves: +€114,000
- Trade debts -€107,371
down €107,371 (-22.0%), from €487,579 to €380,208
- Debts after one year -€72,581
down €72,581 (-32.7%), from €222,250 to €149,670
- Tax, wage and social debts -€57,480
down €57,480 (-21.7%), from €265,353 to €207,873
of which Taxes: -€51,929
- Other operating charges -€93,640
down €93,640 (-78.2%), from €119,797 to €26,157
- Write-downs +€74,669
up €74,669, from -€69,782 to €4,887
- Staff costs -€70,277
down €70,277 (-4.2%), from €1.7m to €1.6m
- Taxes +€26,217
up €26,217 (+89.8%), from €29,211 to €55,428
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 | €3,763,079 | €3,609,313 | -€153,766 | -4.1% |
| Fixed assets | 21/28 | €714,780 | €940,835 | +€226,055 | +31.6% |
| Intangible fixed assets | 21 | €61,784 | €56,857 | -€4,927 | -8.0% |
| Tangible fixed assets | 22/27 | €652,996 | €883,978 | +€230,982 | +35.4% |
| Plant, machinery and equipment | 23 | €536,364 | €743,666 | +€207,302 | +38.6% |
| Furniture and vehicles | 24 | €77,693 | €108,509 | +€30,816 | +39.7% |
| Other tangible fixed assets | 26 | €38,939 | €31,802 | -€7,137 | -18.3% |
| Current assets | 29/58 | €3,048,299 | €2,668,478 | -€379,821 | -12.5% |
| Stocks and contracts in progress | 3 | €1,141,445 | €752,954 | -€388,491 | -34.0% |
| Stocks | 30/36 | €1,141,445 | €752,954 | -€388,491 | -34.0% |
| Amounts receivable within one year | 40/41 | €1,010,020 | €823,030 | -€186,990 | -18.5% |
| Trade receivables | 40 | €971,740 | €804,606 | -€167,134 | -17.2% |
| Other amounts receivable | 41 | €38,280 | €18,424 | -€19,856 | -51.9% |
| Cash at bank and in hand | 54/58 | €848,757 | €974,128 | +€125,371 | +14.8% |
| Deferred charges and accrued income | 490/1 | €48,077 | €118,366 | +€70,289 | +146.2% |
| Total equity and liabilities | 10/49 | €3,763,079 | €3,609,313 | -€153,766 | -4.1% |
| Equity | 10/15 | €2,563,371 | €2,685,127 | +€121,755 | +4.7% |
| Contributions | 10/11 | €1,058,000 | €1,058,000 | = | 0.0% |
| Capital | 10 | €1,058,000 | €1,058,000 | = | 0.0% |
| Issued capital | 100 | €1,058,000 | €1,058,000 | = | 0.0% |
| Reserves | 13 | €125,591 | €246,591 | +€121,000 | +96.3% |
| Non-distributable reserves | 130/1 | €92,233 | €99,233 | +€7,000 | +7.6% |
| Legal reserve | 130 | €92,233 | €99,233 | +€7,000 | +7.6% |
| Tax-exempt reserves | 132 | €33,358 | €33,358 | = | 0.0% |
| Distributable reserves | 133 | - | €114,000 | +€114,000 | |
| Profit (loss) carried forward | 14 | €1,379,780 | €1,380,536 | +€755 | +0.1% |
| Amounts payable | 17/49 | €1,199,708 | €924,186 | -€275,521 | -23.0% |
| Amounts payable after more than one year | 17 | €222,250 | €149,670 | -€72,581 | -32.7% |
| Financial debts | 170/4 | €222,250 | €149,670 | -€72,581 | -32.7% |
| Amounts payable within one year | 42/48 | €843,602 | €660,662 | -€182,941 | -21.7% |
| Current portion of amounts payable after more than one year | 42 | €90,670 | €72,581 | -€18,090 | -20.0% |
| Trade debts | 44 | €487,579 | €380,208 | -€107,371 | -22.0% |
| Suppliers | 440/4 | €487,579 | €380,208 | -€107,371 | -22.0% |
| Taxes, remuneration and social security | 45 | €265,353 | €207,873 | -€57,480 | -21.7% |
| Taxes | 450/3 | €135,221 | €83,292 | -€51,929 | -38.4% |
| Remuneration and social security | 454/9 | €130,132 | €124,581 | -€5,551 | -4.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €133,855 | €113,855 | -€20,000 | -14.9% |
| Non-recurring operating income | 76A | €85,000 | €3,306 | -€81,694 | -96.1% |
| Remuneration, social security and pensions | 62 | €1,684,629 | €1,614,352 | -€70,277 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €161,670 | €178,098 | +€16,428 | +10.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€69,782 | €4,887 | +€74,669 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €119,797 | €26,157 | -€93,640 | -78.2% |
| Non-recurring operating charges | 66A | €3,021 | €0 | -€3,021 | -100.0% |
| Gross operating margin | 9900 | €2,030,166 | €2,018,800 | -€11,366 | -0.6% |
| Operating profit (loss) | 9901 | €130,832 | €195,307 | +€64,475 | +49.3% |
| Financial income | 75/76B | €28,193 | €19,437 | -€8,756 | -31.1% |
| Recurring financial income | 75 | €28,193 | €19,437 | -€8,756 | -31.1% |
| Financial charges | 65/66B | €39,575 | €37,561 | -€2,014 | -5.1% |
| Recurring financial charges | 65 | €39,575 | €37,561 | -€2,014 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €119,451 | €177,183 | +€57,733 | +48.3% |
| Income taxes | 67/77 | €29,211 | €55,428 | +€26,217 | +89.8% |
| Profit (loss) for the period | 9904 | €90,240 | €121,755 | +€31,515 | +34.9% |
| Profit (loss) for the period to be appropriated | 9905 | €90,240 | €121,755 | +€31,515 | +34.9% |
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 8 October 2026 via checked.be.