IMDEBRA: 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.
IMDEBRA
Largest movements
- Current investments +€270,000
new in 2025: €270,000
- Cash -€255,267
down €255,267 (-90.6%), from €281,807 to €26,540
mainly Other debts (-€310,800) and Current investments (-€270,000)
- Receivables within one year -€226,184
down €226,184 (-50.7%), from €446,270 to €220,086
of which Other amounts receivable: -€232,718
- Other debts -€310,800
down €310,800 (-34.6%), from €898,817 to €588,017
- Reserves +€52,660
up €52,660 (+3.6%), from €1.5m to €1.5m
of which Distributable reserves: +€52,660
- Accrued charges and deferred income +€34,160
up €34,160 (+61.0%), from €56,000 to €90,160
- Gross operating margin +€90,752
up €90,752 (+66.0%), from €137,504 to €228,255
- Financial charges +€49,777
up €49,777 (+84.1%), from €59,222 to €108,999
- Taxes +€14,913
up €14,913 (+243.4%), from €6,127 to €21,040
- Other operating charges -€11,655
down €11,655 (-58.8%), from €19,806 to €8,151
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 | €3,324,972 | €3,084,403 | -€240,569 | -7.2% |
| Fixed assets | 21/28 | €227,066 | €210,996 | -€16,070 | -7.1% |
| Tangible fixed assets | 22/27 | €226,726 | €210,656 | -€16,070 | -7.1% |
| Land and buildings | 22 | €181,944 | €173,007 | -€8,938 | -4.9% |
| Plant, machinery and equipment | 23 | €44,782 | €37,649 | -€7,133 | -15.9% |
| Financial fixed assets | 28 | €340 | €340 | = | 0.0% |
| Current assets | 29/58 | €3,097,906 | €2,873,408 | -€224,498 | -7.2% |
| Stocks and contracts in progress | 3 | €2,348,610 | €2,335,702 | -€12,908 | -0.5% |
| Stocks | 30/36 | €2,348,610 | €2,335,702 | -€12,908 | -0.5% |
| Amounts receivable within one year | 40/41 | €446,270 | €220,086 | -€226,184 | -50.7% |
| Trade receivables | 40 | €7,212 | €13,746 | +€6,534 | +90.6% |
| Other amounts receivable | 41 | €439,058 | €206,340 | -€232,718 | -53.0% |
| Current investments | 50/53 | - | €270,000 | +€270,000 | |
| Cash at bank and in hand | 54/58 | €281,807 | €26,540 | -€255,267 | -90.6% |
| Deferred charges and accrued income | 490/1 | €21,219 | €21,080 | -€139 | -0.7% |
| Total equity and liabilities | 10/49 | €3,324,972 | €3,084,403 | -€240,569 | -7.2% |
| Equity | 10/15 | €1,570,649 | €1,623,309 | +€52,660 | +3.4% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €1,470,649 | €1,523,309 | +€52,660 | +3.6% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €1,460,649 | €1,513,309 | +€52,660 | +3.6% |
| Amounts payable | 17/49 | €1,754,322 | €1,461,094 | -€293,228 | -16.7% |
| Amounts payable after more than one year | 17 | €772,000 | €754,000 | -€18,000 | -2.3% |
| Financial debts | 170/4 | €72,000 | €54,000 | -€18,000 | -25.0% |
| Other amounts payable | 178/9 | €700,000 | €700,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €926,322 | €616,934 | -€309,388 | -33.4% |
| Current portion of amounts payable after more than one year | 42 | €18,000 | €18,000 | = | 0.0% |
| Trade debts | 44 | €55 | €136 | +€81 | +148.8% |
| Suppliers | 440/4 | €55 | €136 | +€81 | +148.8% |
| Taxes, remuneration and social security | 45 | €9,450 | €10,781 | +€1,330 | +14.1% |
| Taxes | 450/3 | €5,292 | €6,351 | +€1,059 | +20.0% |
| Remuneration and social security | 454/9 | €4,159 | €4,430 | +€271 | +6.5% |
| Other amounts payable | 47/48 | €898,817 | €588,017 | -€310,800 | -34.6% |
| Accrued charges and deferred income | 492/3 | €56,000 | €90,160 | +€34,160 | +61.0% |
| Remuneration, social security and pensions | 62 | €29,503 | €31,103 | +€1,599 | +5.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,070 | €16,070 | = | 0.0% |
| Other operating charges | 640/8 | €19,806 | €8,151 | -€11,655 | -58.8% |
| Gross operating margin | 9900 | €137,504 | €228,255 | +€90,752 | +66.0% |
| Operating profit (loss) | 9901 | €72,124 | €172,931 | +€100,808 | +139.8% |
| Financial income | 75/76B | €7,987 | €9,767 | +€1,780 | +22.3% |
| Recurring financial income | 75 | €7,987 | €9,767 | +€1,780 | +22.3% |
| Financial charges | 65/66B | €59,222 | €108,999 | +€49,777 | +84.1% |
| Recurring financial charges | 65 | €59,222 | €108,999 | +€49,777 | +84.1% |
| Profit (loss) for the period before taxes | 9903 | €20,889 | €73,699 | +€52,810 | +252.8% |
| Income taxes | 67/77 | €6,127 | €21,040 | +€14,913 | +243.4% |
| Profit (loss) for the period | 9904 | €14,762 | €52,660 | +€37,898 | +256.7% |
| Profit (loss) for the period to be appropriated | 9905 | €14,762 | €52,660 | +€37,898 | +256.7% |
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 10 October 2026 via checked.be.