Imbarco: 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.
Imbarco
Largest movements
- Receivables within one year -€41,395
down €41,395 (-74.5%), from €55,558 to €14,163
of which Trade receivables: -€22,420
- Other debts -€140,643
down €140,643 (-30.7%), from €457,494 to €316,851
- Reserves +€93,200
up €93,200 (+49.8%), from €187,333 to €280,533
- Financial income -€53,950
down €53,950 (-51.6%), from €104,500 to €50,550
- Gross operating margin -€10,509
down €10,509 (-13.9%), from €75,547 to €65,038
- Depreciation -€2,443
down €2,443 (-55.8%), from €4,377 to €1,934
- Taxes -€2,297
down €2,297 (-12.8%), from €17,920 to €15,623
- Other operating charges +€1,137
up €1,137 (+47.6%), from €2,389 to €3,525
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 | €649,695 | €602,055 | -€47,640 | -7.3% |
| Fixed assets | 21/28 | €529,886 | €527,952 | -€1,934 | -0.4% |
| Tangible fixed assets | 22/27 | €2,709 | €775 | -€1,934 | -71.4% |
| Plant, machinery and equipment | 23 | €2,709 | €775 | -€1,934 | -71.4% |
| Financial fixed assets | 28 | €527,177 | €527,177 | = | 0.0% |
| Current assets | 29/58 | €119,809 | €74,103 | -€45,706 | -38.1% |
| Amounts receivable within one year | 40/41 | €55,558 | €14,163 | -€41,395 | -74.5% |
| Trade receivables | 40 | €28,447 | €6,027 | -€22,420 | -78.8% |
| Other amounts receivable | 41 | €27,110 | €8,136 | -€18,974 | -70.0% |
| Cash at bank and in hand | 54/58 | €64,251 | €59,940 | -€4,312 | -6.7% |
| Total equity and liabilities | 10/49 | €649,695 | €602,055 | -€47,640 | -7.3% |
| Equity | 10/15 | €189,833 | €283,033 | +€93,200 | +49.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €187,333 | €280,533 | +€93,200 | +49.8% |
| Distributable reserves | 133 | €187,333 | €280,533 | +€93,200 | +49.8% |
| Amounts payable | 17/49 | €459,862 | €319,022 | -€140,841 | -30.6% |
| Amounts payable within one year | 42/48 | €459,862 | €319,022 | -€140,841 | -30.6% |
| Taxes, remuneration and social security | 45 | €2,369 | €2,171 | -€198 | -8.3% |
| Taxes | 450/3 | €2,369 | €2,171 | -€198 | -8.3% |
| Other amounts payable | 47/48 | €457,494 | €316,851 | -€140,643 | -30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,377 | €1,934 | -€2,443 | -55.8% |
| Other operating charges | 640/8 | €2,389 | €3,525 | +€1,137 | +47.6% |
| Non-recurring operating charges | 66A | €811 | - | -€811 | |
| Gross operating margin | 9900 | €75,547 | €65,038 | -€10,509 | -13.9% |
| Operating profit (loss) | 9901 | €67,970 | €59,579 | -€8,391 | -12.3% |
| Financial income | 75/76B | €104,500 | €50,550 | -€53,950 | -51.6% |
| Recurring financial income | 75 | €104,500 | €50,550 | -€53,950 | -51.6% |
| Financial charges | 65/66B | €1,603 | €1,305 | -€298 | -18.6% |
| Recurring financial charges | 65 | €1,603 | €1,305 | -€298 | -18.6% |
| Profit (loss) for the period before taxes | 9903 | €170,867 | €108,823 | -€62,044 | -36.3% |
| Income taxes | 67/77 | €17,920 | €15,623 | -€2,297 | -12.8% |
| Profit (loss) for the period | 9904 | €152,947 | €93,200 | -€59,747 | -39.1% |
| Profit (loss) for the period to be appropriated | 9905 | €152,947 | €93,200 | -€59,747 | -39.1% |
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 3 October 2026 via checked.be.