Imdeco: 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.
Imdeco
Largest movements
- Tangible fixed assets +€105,575
up €105,575 (+11.0%), from €956,790 to €1.1m
of which Land and buildings: +€100,964
- Cash +€40,142
up €40,142 (+8.0%), from €501,294 to €541,436
mainly Net result for the year (+€202,966) and Debts after one year (+€90,357)
- Reserves +€202,966
up €202,966 (+31.3%), from €648,305 to €851,271
of which Distributable reserves: +€202,966
- Short-term financial debts -€141,990
down €141,990 (-100.0%), from €141,990 to €0
- Debts after one year +€90,357
up €90,357 (+5.5%), from €1.6m to €1.7m
- Financial income -€74,295
down €74,295 (-80.4%), from €92,437 to €18,143
- Taxes -€20,472
down €20,472 (-17.7%), from €115,701 to €95,228
- Depreciation +€9,409
up €9,409 (+38.2%), from €24,632 to €34,042
- Financial charges +€8,809
up €8,809 (+7.9%), from €112,181 to €120,990
- Write-downs +€7,713
new in 2025: €7,713
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 | €2,752,798 | €2,895,196 | +€142,399 | +5.2% |
| Fixed assets | 21/28 | €956,974 | €1,062,549 | +€105,575 | +11.0% |
| Tangible fixed assets | 22/27 | €956,790 | €1,062,366 | +€105,575 | +11.0% |
| Land and buildings | 22 | €953,019 | €1,053,982 | +€100,964 | +10.6% |
| Furniture and vehicles | 24 | €3,772 | €8,383 | +€4,612 | +122.3% |
| Financial fixed assets | 28 | €183 | €183 | = | 0.0% |
| Current assets | 29/58 | €1,795,824 | €1,832,647 | +€36,823 | +2.1% |
| Amounts receivable within one year | 40/41 | €45,148 | €36,059 | -€9,089 | -20.1% |
| Trade receivables | 40 | €12,972 | €15,215 | +€2,243 | +17.3% |
| Other amounts receivable | 41 | €32,175 | €20,844 | -€11,332 | -35.2% |
| Current investments | 50/53 | €1,244,768 | €1,249,669 | +€4,901 | +0.4% |
| Cash at bank and in hand | 54/58 | €501,294 | €541,436 | +€40,142 | +8.0% |
| Deferred charges and accrued income | 490/1 | €4,614 | €5,483 | +€869 | +18.8% |
| Total equity and liabilities | 10/49 | €2,752,798 | €2,895,196 | +€142,399 | +5.2% |
| Equity | 10/15 | €709,805 | €912,771 | +€202,966 | +28.6% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €648,305 | €851,271 | +€202,966 | +31.3% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,445 | €2,445 | = | 0.0% |
| Distributable reserves | 133 | €639,710 | €842,675 | +€202,966 | +31.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,042,993 | €1,982,426 | -€60,567 | -3.0% |
| Amounts payable after more than one year | 17 | €1,629,149 | €1,719,506 | +€90,357 | +5.5% |
| Other amounts payable | 178/9 | €1,629,149 | €1,719,506 | +€90,357 | +5.5% |
| Amounts payable within one year | 42/48 | €282,861 | €143,812 | -€139,049 | -49.2% |
| Financial debts | 43 | €141,990 | €0 | -€141,990 | -100.0% |
| Credit institutions | 430/8 | €141,990 | €0 | -€141,990 | -100.0% |
| Trade debts | 44 | €28,871 | €32,806 | +€3,935 | +13.6% |
| Suppliers | 440/4 | €28,871 | €32,806 | +€3,935 | +13.6% |
| Taxes, remuneration and social security | 45 | €88,589 | €98,459 | +€9,870 | +11.1% |
| Taxes | 450/3 | €88,589 | €98,459 | +€9,870 | +11.1% |
| Other amounts payable | 47/48 | €23,411 | €12,547 | -€10,864 | -46.4% |
| Accrued charges and deferred income | 492/3 | €130,983 | €119,108 | -€11,875 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,632 | €34,042 | +€9,409 | +38.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €7,713 | +€7,713 | |
| Other operating charges | 640/8 | €78,887 | €81,162 | +€2,275 | +2.9% |
| Non-recurring operating charges | 66A | - | €5,224 | +€5,224 | |
| Gross operating margin | 9900 | €527,513 | €529,182 | +€1,669 | +0.3% |
| Operating profit (loss) | 9901 | €423,994 | €401,042 | -€22,953 | -5.4% |
| Financial income | 75/76B | €92,437 | €18,143 | -€74,295 | -80.4% |
| Recurring financial income | 75 | €92,437 | €18,143 | -€74,295 | -80.4% |
| Financial charges | 65/66B | €112,181 | €120,990 | +€8,809 | +7.9% |
| Recurring financial charges | 65 | €112,181 | €120,990 | +€8,809 | +7.9% |
| Profit (loss) for the period before taxes | 9903 | €404,251 | €298,194 | -€106,057 | -26.2% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €115,701 | €95,228 | -€20,472 | -17.7% |
| Profit (loss) for the period | 9904 | €288,550 | €202,966 | -€85,584 | -29.7% |
| Transfer from tax-exempt reserves | 789 | €585 | €0 | -€585 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €289,135 | €202,966 | -€86,169 | -29.8% |
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 5 October 2026 via checked.be.