IMBRECHT: 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.
IMBRECHT
Largest movements
- Cash +€81,474
up €81,474 (+26.1%), from €311,880 to €393,354
mainly Net result for the year (+€56,460) and Depreciation (+€24,944)
- Tangible fixed assets -€18,264
down €18,264 (-6.3%), from €290,702 to €272,438
of which Other tangible fixed assets: -€10,837
- Deferred charges and accrued income +€17,714
up €17,714 (+1179.9%), from €1,501 to €19,215
- Receivables within one year -€12,230
down €12,230 (-27.3%), from €44,724 to €32,494
of which Other amounts receivable: -€11,204
- Reserves +€56,460
up €56,460 (+11.3%), from €498,948 to €555,408
of which Distributable reserves: +€56,460
- Trade debts +€12,401
new in 2025: €12,401
- Gross operating margin +€4,672
up €4,672 (+2.7%), from €170,982 to €175,654
- Depreciation +€3,472
up €3,472 (+16.2%), from €21,472 to €24,944
- Staff costs +€3,051
up €3,051 (+7.9%), from €38,515 to €41,566
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 | €674,394 | €743,088 | +€68,694 | +10.2% |
| Fixed assets | 21/28 | €294,702 | €276,438 | -€18,264 | -6.2% |
| Tangible fixed assets | 22/27 | €290,702 | €272,438 | -€18,264 | -6.3% |
| Land and buildings | 22 | €180,000 | €180,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €1,807 | €757 | -€1,050 | -58.1% |
| Furniture and vehicles | 24 | €32,599 | €26,223 | -€6,377 | -19.6% |
| Other tangible fixed assets | 26 | €76,296 | €65,459 | -€10,837 | -14.2% |
| Financial fixed assets | 28 | €4,000 | €4,000 | = | 0.0% |
| Current assets | 29/58 | €379,692 | €466,650 | +€86,958 | +22.9% |
| Amounts receivable within one year | 40/41 | €44,724 | €32,494 | -€12,230 | -27.3% |
| Trade receivables | 40 | €33,317 | €32,291 | -€1,026 | -3.1% |
| Other amounts receivable | 41 | €11,407 | €203 | -€11,204 | -98.2% |
| Current investments | 50/53 | €21,587 | €21,587 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €311,880 | €393,354 | +€81,474 | +26.1% |
| Deferred charges and accrued income | 490/1 | €1,501 | €19,215 | +€17,714 | +1179.9% |
| Total equity and liabilities | 10/49 | €674,394 | €743,088 | +€68,694 | +10.2% |
| Equity | 10/15 | €560,948 | €617,408 | +€56,460 | +10.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €498,948 | €555,408 | +€56,460 | +11.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €15,155 | €15,155 | = | 0.0% |
| Distributable reserves | 133 | €477,593 | €534,054 | +€56,460 | +11.8% |
| Amounts payable | 17/49 | €113,446 | €125,679 | +€12,233 | +10.8% |
| Amounts payable within one year | 42/48 | €106,268 | €118,774 | +€12,507 | +11.8% |
| Trade debts | 44 | - | €12,401 | +€12,401 | |
| Suppliers | 440/4 | - | €12,401 | +€12,401 | |
| Taxes, remuneration and social security | 45 | €15,917 | €10,997 | -€4,919 | -30.9% |
| Taxes | 450/3 | €13,173 | €8,112 | -€5,061 | -38.4% |
| Remuneration and social security | 454/9 | €2,744 | €2,886 | +€142 | +5.2% |
| Other amounts payable | 47/48 | €90,351 | €95,375 | +€5,025 | +5.6% |
| Accrued charges and deferred income | 492/3 | €7,178 | €6,905 | -€273 | -3.8% |
| Non-recurring operating income | 76A | €211 | - | -€211 | |
| Remuneration, social security and pensions | 62 | €38,515 | €41,566 | +€3,051 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,472 | €24,944 | +€3,472 | +16.2% |
| Other operating charges | 640/8 | €17,550 | €17,419 | -€130 | -0.7% |
| Gross operating margin | 9900 | €170,982 | €175,654 | +€4,672 | +2.7% |
| Operating profit (loss) | 9901 | €93,445 | €91,725 | -€1,720 | -1.8% |
| Financial income | 75/76B | €191 | €341 | +€149 | +78.0% |
| Recurring financial income | 75 | €191 | €341 | +€149 | +78.0% |
| Financial charges | 65/66B | €7,643 | €8,932 | +€1,289 | +16.9% |
| Recurring financial charges | 65 | €7,643 | €7,458 | -€184 | -2.4% |
| Non-recurring financial charges | 66B | - | €1,474 | +€1,474 | |
| Profit (loss) for the period before taxes | 9903 | €85,993 | €83,133 | -€2,860 | -3.3% |
| Income taxes | 67/77 | €26,810 | €26,673 | -€137 | -0.5% |
| Profit (loss) for the period | 9904 | €59,183 | €56,460 | -€2,723 | -4.6% |
| Profit (loss) for the period to be appropriated | 9905 | €59,183 | €56,460 | -€2,723 | -4.6% |
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.