IMDES: 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.
IMDES
Largest movements
- Receivables within one year +€13,368
up €13,368 (+5.6%), from €240,007 to €253,376
- Cash -€12,195
down €12,195 (-57.4%), from €21,237 to €9,042
mainly Receivables within one year (-€13,368) and Investment in fixed assets (net) (-€13,033)
- Tangible fixed assets +€5,824
up €5,824 (+12.1%), from €48,226 to €54,050
- Reserves +€7,122
up €7,122 (+2.6%), from €273,623 to €280,745
- Gross operating margin +€11,207
up €11,207 (+137%), from €8,185 to €19,393
- Financial income -€2,827
no longer reported in 2025 (was €2,827)
- Taxes +€2,366
up €2,366 (+197%), from €1,199 to €3,564
- Depreciation +€1,314
up €1,314 (+22.3%), from €5,895 to €7,209
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.
Derived cash bridge
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 | €309,489 | €316,487 | +€6,998 | +2.3% |
| Fixed assets | 21/28 | €48,245 | €54,069 | +€5,824 | +12.1% |
| Tangible fixed assets | 22/27 | €48,226 | €54,050 | +€5,824 | +12.1% |
| Land and buildings | 22 | €48,226 | €54,050 | +€5,824 | +12.1% |
| Financial fixed assets | 28 | €19 | €19 | = | 0.0% |
| Current assets | 29/58 | €261,244 | €262,418 | +€1,174 | +0.4% |
| Amounts receivable within one year | 40/41 | €240,007 | €253,376 | +€13,368 | +5.6% |
| Other amounts receivable | 41 | €240,007 | €253,376 | +€13,368 | +5.6% |
| Cash at bank and in hand | 54/58 | €21,237 | €9,042 | -€12,195 | -57.4% |
| Total equity and liabilities | 10/49 | €309,489 | €316,487 | +€6,998 | +2.3% |
| Equity | 10/15 | €294,163 | €301,285 | +€7,122 | +2.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €1,940 | €1,940 | = | 0.0% |
| Reserves | 13 | €273,623 | €280,745 | +€7,122 | +2.6% |
| Distributable reserves | 133 | €273,623 | €280,745 | +€7,122 | +2.6% |
| Amounts payable | 17/49 | €15,326 | €15,202 | -€124 | -0.8% |
| Amounts payable within one year | 42/48 | €15,326 | €15,202 | -€124 | -0.8% |
| Trade debts | 44 | €3,050 | €838 | -€2,213 | -72.5% |
| Suppliers | 440/4 | €3,050 | €838 | -€2,213 | -72.5% |
| Taxes, remuneration and social security | 45 | €1,476 | €3,564 | +€2,088 | +141% |
| Taxes | 450/3 | €1,476 | €3,564 | +€2,088 | +141% |
| Other amounts payable | 47/48 | €10,800 | €10,800 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,895 | €7,209 | +€1,314 | +22.3% |
| Other operating charges | 640/8 | €1,554 | €1,473 | -€81 | -5.2% |
| Gross operating margin | 9900 | €8,185 | €19,393 | +€11,207 | +137% |
| Operating profit (loss) | 9901 | €736 | €10,711 | +€9,974 | +1,355% |
| Financial income | 75/76B | €2,827 | - | -€2,827 | |
| Recurring financial income | 75 | €2,827 | - | -€2,827 | |
| Financial charges | 65/66B | €24 | €24 | = | 0.0% |
| Recurring financial charges | 65 | €24 | €24 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €3,539 | €10,687 | +€7,147 | +202% |
| Income taxes | 67/77 | €1,199 | €3,564 | +€2,366 | +197% |
| Profit (loss) for the period | 9904 | €2,341 | €7,122 | +€4,782 | +204% |
| Profit (loss) for the period to be appropriated | 9905 | €2,341 | €7,122 | +€4,782 | +204% |
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 14 October 2026 via checked.be.