Imbo - Vy: 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.
What changed
Imbo - Vy
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1.0m
2024 · €4.9m-€3.8m
Equity
€42.4m
2024 · €41.4m+€1.0m
Cash
€691,145
2024 · €545,192+€145,954
Balance sheet total
€56.3m
2024 · €55.0m+€1.3m
Largest movements
Assets
- Stocks and contracts -€7.4m
down €7.4m (-27.7%), from €26.8m to €19.3m
- Current investments +€6.5m
up €6.5m (+216.5%), from €3.0m to €9.5m
- Tangible fixed assets +€3.8m
up €3.8m (+36.5%), from €10.4m to €14.2m
of which Land and buildings: +€3.8m
- Receivables within one year -€2.0m
down €2.0m (-19.3%), from €10.2m to €8.2m
of which Other amounts receivable: -€2.0m
Equity and liabilities
- Reserves +€1.0m
up €1.0m (+2.5%), from €40.7m to €41.7m
of which Distributable reserves: +€1.0m
- Other debts +€573,488
up €573,488 (+6.7%), from €8.6m to €9.2m
Income statement
- Turnover -€3.3m
no longer reported in 2025 (was €3.3m)
- Gross operating margin +€2.3m
new in 2025: €2.3m
- Goods and materials -€2.0m
no longer reported in 2025 (was €2.0m)
- Taxes -€1.3m
down €1.3m (-79.0%), from €1.7m to €357,327
- Services and other goods -€500,778
no longer reported in 2025 (was €500,778)
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
€4.9m
Turnover
-€3.3m
Other operating income
-€4,844
Goods and materials
+€2.0m
Services and other goods
+€500,778
Staff costs
-€5,221
Depreciation
-€75,463
Other operating charges
-€69,394
Other operating items
-€4.0m
Financial income
-€293,214
Financial charges
-€3,912
Taxes
+€1.3m
Result 2025
€1.0m
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.
From operations
+€11.3m
Investment
-€10.9m
Financing
-€291,215
Cash 2024
€545,192
From operations (derived)
+€11.3m
Net result for the year
+€1.0m
Depreciation
+€348,327
Stocks and contracts
+€7.4m
Receivables within one year
+€2.0m
Smaller working-capital items
-€8,893
Trade debts
+€25,207
Tax, wage and social debts
-€39,544
Other debts
+€573,488
Investment (derived)
-€10.9m
Investment in fixed assets (net)
-€4.4m
Current investments
-€6.5m
Financing
-€291,215
Debts after one year
-€291,215
Cash 2025
€691,145
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,963,399 | €56,266,267 | +€1.3m | +2.4% |
| Fixed assets | 21/28 | €14,418,676 | €18,443,574 | +€4.0m | +27.9% |
| Tangible fixed assets | 22/27 | €10,368,225 | €14,151,368 | +€3.8m | +36.5% |
| Land and buildings | 22 | €10,289,035 | €14,096,798 | +€3.8m | +37.0% |
| Furniture and vehicles | 24 | €79,190 | €54,570 | -€24,620 | -31.1% |
| Financial fixed assets | 28 | €4,050,451 | €4,292,206 | +€241,755 | +6.0% |
| Affiliated companies | 280/1 | €4,050,451 | - | -€4.1m | |
| Participating interests | 280 | €4,050,451 | - | -€4.1m | |
| Current assets | 29/58 | €40,544,723 | €37,822,692 | -€2.7m | -6.7% |
| Stocks and contracts in progress | 3 | €26,772,339 | €19,349,187 | -€7.4m | -27.7% |
| Stocks | 30/36 | €26,772,339 | €19,349,187 | -€7.4m | -27.7% |
| Property held for sale | 35 | €26,772,339 | - | -€26.8m | |
| Amounts receivable within one year | 40/41 | €10,209,141 | €8,235,311 | -€2.0m | -19.3% |
| Trade receivables | 40 | - | €3,103 | +€3,103 | |
| Other amounts receivable | 41 | €10,209,141 | €8,232,208 | -€2.0m | -19.4% |
| Current investments | 50/53 | €3,009,501 | €9,526,109 | +€6.5m | +216.5% |
| Other investments | 51/53 | €3,009,501 | - | -€3.0m | |
| Cash at bank and in hand | 54/58 | €545,192 | €691,145 | +€145,954 | +26.8% |
| Deferred charges and accrued income | 490/1 | €8,550 | €20,940 | +€12,390 | +144.9% |
| Total equity and liabilities | 10/49 | €54,963,399 | €56,266,267 | +€1.3m | +2.4% |
| Equity | 10/15 | €41,369,284 | €42,400,720 | +€1.0m | +2.5% |
| Contributions | 10/11 | €701,000 | €701,000 | = | 0.0% |
| Capital | 10 | €701,000 | €701,000 | = | 0.0% |
| Issued capital | 100 | €701,000 | €701,000 | = | 0.0% |
| Reserves | 13 | €40,668,284 | €41,699,720 | +€1.0m | +2.5% |
| Non-distributable reserves | 130/1 | €70,100 | €70,100 | = | 0.0% |
| Legal reserve | 130 | €70,100 | €70,100 | = | 0.0% |
| Distributable reserves | 133 | €40,598,184 | €41,629,620 | +€1.0m | +2.5% |
| Amounts payable | 17/49 | €13,594,115 | €13,865,547 | +€271,432 | +2.0% |
| Amounts payable after more than one year | 17 | €4,541,215 | €4,250,000 | -€291,215 | -6.4% |
| Financial debts | 170/4 | €4,541,215 | €4,250,000 | -€291,215 | -6.4% |
| Other loans | 174 | €4,541,215 | - | -€4.5m | |
| Amounts payable within one year | 42/48 | €9,019,428 | €9,578,578 | +€559,150 | +6.2% |
| Trade debts | 44 | €49,222 | €74,429 | +€25,207 | +51.2% |
| Suppliers | 440/4 | €49,222 | €74,429 | +€25,207 | +51.2% |
| Taxes, remuneration and social security | 45 | €355,418 | €315,874 | -€39,544 | -11.1% |
| Taxes | 450/3 | €333,168 | €291,313 | -€41,855 | -12.6% |
| Remuneration and social security | 454/9 | €22,249 | €24,560 | +€2,311 | +10.4% |
| Other amounts payable | 47/48 | €8,614,788 | €9,188,276 | +€573,488 | +6.7% |
| Accrued charges and deferred income | 492/3 | €33,472 | €36,969 | +€3,497 | +10.4% |
| Operating income | 70/76A | €9,578,842 | - | -€9.6m | |
| Turnover | 70 | €3,298,896 | - | -€3.3m | |
| Other operating income | 74 | €4,844 | - | -€4,844 | |
| Non-recurring operating income | 76A | €6,275,102 | €2,413 | -€6.3m | -100.0% |
| Operating charges | 60/66A | €3,046,236 | - | -€3.0m | |
| Goods for resale, raw materials and consumables | 60 | €2,047,615 | - | -€2.0m | |
| Change in stocks: decrease (increase) | 609 | €2,047,615 | - | -€2.0m | |
| Services and other goods | 61 | €500,778 | - | -€500,778 | |
| Remuneration, social security and pensions | 62 | €135,140 | €140,362 | +€5,221 | +3.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €272,864 | €348,327 | +€75,463 | +27.7% |
| Other operating charges | 640/8 | €89,839 | €159,233 | +€69,394 | +77.2% |
| Gross operating margin | 9900 | - | €2,290,873 | +€2.3m | |
| Operating profit (loss) | 9901 | €6,532,605 | €1,642,952 | -€4.9m | -74.8% |
| Financial income | 75/76B | €623,058 | €329,844 | -€293,214 | -47.1% |
| Recurring financial income | 75 | €623,058 | €329,844 | -€293,214 | -47.1% |
| Income from financial fixed assets | 750 | €392,865 | - | -€392,865 | |
| Income from current assets | 751 | €212,539 | - | -€212,539 | |
| Other financial income | 752/9 | €17,654 | - | -€17,654 | |
| Financial charges | 65/66B | €580,120 | €584,033 | +€3,912 | +0.7% |
| Recurring financial charges | 65 | €580,120 | €584,033 | +€3,912 | +0.7% |
| Debt charges | 650 | €578,890 | - | -€578,890 | |
| Other financial charges | 652/9 | €1,230 | - | -€1,230 | |
| Profit (loss) for the period before taxes | 9903 | €6,575,543 | €1,388,763 | -€5.2m | -78.9% |
| Income taxes | 67/77 | €1,699,914 | €357,327 | -€1.3m | -79.0% |
| Taxes | 670/3 | €1,699,914 | - | -€1.7m | |
| Profit (loss) for the period | 9904 | €4,875,629 | €1,031,436 | -€3.8m | -78.8% |
| Profit (loss) for the period to be appropriated | 9905 | €4,875,629 | €1,031,436 | -€3.8m | -78.8% |
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 7 October 2026 via checked.be.