IMAV: 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.
What changed
IMAV
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€7,192
2024 · €6,634+€558
Equity
€196,279
2024 · €194,308+€1,972
Cash
€67,368
2024 · €41,452+€25,916
Balance sheet total
€244,659
2024 · €238,640+€6,018
Largest movements
Assets
- Cash +€25,916
up €25,916 (+62.5%), from €41,452 to €67,368
mainly Depreciation (+€19,268) and Net result for the year (+€7,192)
- Tangible fixed assets -€19,268
down €19,268 (-10.4%), from €185,343 to €166,075
of which Plant, machinery and equipment: -€11,251
Equity and liabilities
- Reserves +€3,192
up €3,192 (+4.7%), from €67,791 to €70,984
Income statement
- Gross operating margin +€2,974
up €2,974 (+9.5%), from €31,372 to €34,345
- Taxes +€2,247
up €2,247 (+385%), from €584 to €2,831
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.
Result 2024
€6,634
Gross operating margin
+€2,974
Depreciation
-€225
Other operating charges
-€43
Financial income
+€0
Financial charges
+€99
Taxes
-€2,247
Result 2025
€7,192
raises the resultlowers the result
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.
From operations
+€31,136
Investment
€0
Financing
-€5,221
Cash 2024
€41,452
From operations (derived)
+€31,136
Net result for the year
+€7,192
Depreciation
+€19,268
Receivables within one year
+€643
Deferred charges and accrued income
-€14
Provisions
-€407
Trade debts
+€2,358
Tax, wage and social debts
+€332
Accrued charges and deferred income
+€1,763
Financing
-€5,221
Contributions, distributions and other
-€5,221
Cash 2025
€67,368
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €238,640 | €244,659 | +€6,018 | +2.5% |
| Fixed assets | 21/28 | €185,343 | €166,075 | -€19,268 | -10.4% |
| Tangible fixed assets | 22/27 | €185,343 | €166,075 | -€19,268 | -10.4% |
| Land and buildings | 22 | €92,456 | €84,671 | -€7,785 | -8.4% |
| Plant, machinery and equipment | 23 | €91,733 | €80,482 | -€11,251 | -12.3% |
| Furniture and vehicles | 24 | €1,154 | €921 | -€232 | -20.1% |
| Current assets | 29/58 | €53,297 | €78,584 | +€25,287 | +47.4% |
| Amounts receivable within one year | 40/41 | €10,581 | €9,937 | -€643 | -6.1% |
| Trade receivables | 40 | €8,401 | €5,270 | -€3,131 | -37.3% |
| Other amounts receivable | 41 | €2,179 | €4,667 | +€2,488 | +114% |
| Cash at bank and in hand | 54/58 | €41,452 | €67,368 | +€25,916 | +62.5% |
| Deferred charges and accrued income | 490/1 | €1,264 | €1,278 | +€14 | +1.1% |
| Total equity and liabilities | 10/49 | €238,640 | €244,659 | +€6,018 | +2.5% |
| Equity | 10/15 | €194,308 | €196,279 | +€1,972 | +1.0% |
| Contributions | 10/11 | €119,573 | €119,573 | = | 0.0% |
| Capital | 10 | €119,573 | €119,573 | = | 0.0% |
| Issued capital | 100 | €119,573 | €119,573 | = | 0.0% |
| Reserves | 13 | €67,791 | €70,984 | +€3,192 | +4.7% |
| Non-distributable reserves | 130/1 | €67,791 | €70,984 | +€3,192 | +4.7% |
| Legal reserve | 130 | €11,957 | €11,957 | = | 0.0% |
| Reserves not available under the articles | 1311 | €55,834 | €59,026 | +€3,192 | +5.7% |
| Profit (loss) carried forward | 14 | €63 | €63 | = | 0.0% |
| Investment grants | 15 | €6,879 | €5,659 | -€1,221 | -17.7% |
| Provisions and deferred taxes | 16 | €2,293 | €1,886 | -€407 | -17.7% |
| Deferred taxes | 168 | €2,293 | €1,886 | -€407 | -17.7% |
| Amounts payable | 17/49 | €42,039 | €46,493 | +€4,454 | +10.6% |
| Amounts payable after more than one year | 17 | €26,800 | €26,800 | = | 0.0% |
| Financial debts | 170/4 | €26,800 | €26,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,677 | €17,368 | +€2,691 | +18.3% |
| Trade debts | 44 | €3,260 | €5,618 | +€2,358 | +72.3% |
| Suppliers | 440/4 | €3,260 | €5,618 | +€2,358 | +72.3% |
| Taxes, remuneration and social security | 45 | €1,697 | €2,029 | +€332 | +19.6% |
| Taxes | 450/3 | €1,697 | €2,029 | +€332 | +19.6% |
| Other amounts payable | 47/48 | €9,720 | €9,720 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €563 | €2,326 | +€1,763 | +313% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,044 | €19,268 | +€225 | +1.2% |
| Other operating charges | 640/8 | €5,794 | €5,837 | +€43 | +0.7% |
| Gross operating margin | 9900 | €31,372 | €34,345 | +€2,974 | +9.5% |
| Operating profit (loss) | 9901 | €6,534 | €9,240 | +€2,706 | +41.4% |
| Financial income | 75/76B | €1,221 | €1,221 | +€0 | 0.0% |
| Recurring financial income | 75 | €1,221 | €1,221 | +€0 | 0.0% |
| Financial charges | 65/66B | €943 | €844 | -€99 | -10.5% |
| Recurring financial charges | 65 | €943 | €844 | -€99 | -10.5% |
| Profit (loss) for the period before taxes | 9903 | €6,812 | €9,617 | +€2,805 | +41.2% |
| Transfer from deferred taxes | 780 | €407 | €407 | = | 0.0% |
| Income taxes | 67/77 | €584 | €2,831 | +€2,247 | +385% |
| Profit (loss) for the period | 9904 | €6,634 | €7,192 | +€558 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,634 | €7,192 | +€558 | +8.4% |
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 17 October 2026 via checked.be.