IMEBO: 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.
IMEBO
Largest movements
- Tangible fixed assets -€47,475
down €47,475 (-14.5%), from €326,919 to €279,445
of which Plant, machinery and equipment: -€27,020
- Receivables within one year -€19,844
down €19,844 (-41.0%), from €48,359 to €28,515
of which Trade receivables: -€21,569
- Cash -€15,297
down €15,297 (-24.4%), from €62,700 to €47,403
mainly Trade debts (-€55,052) and Debts after one year (-€22,275)
- Trade debts -€55,052
down €55,052 (-49.5%), from €111,141 to €56,089
- Debts after one year -€22,275
down €22,275 (-11.3%), from €196,663 to €174,388
- Other debts -€4,992
down €4,992 (-21.6%), from €23,138 to €18,145
- Gross operating margin +€3,147
up €3,147 (+4.9%), from €64,012 to €67,159
- Depreciation +€1,638
up €1,638 (+3.1%), from €52,598 to €54,236
- Financial charges -€1,112
down €1,112 (-16.9%), from €6,575 to €5,463
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 | €438,486 | €356,388 | -€82,098 | -18.7% |
| Fixed assets | 21/28 | €326,919 | €279,445 | -€47,475 | -14.5% |
| Tangible fixed assets | 22/27 | €326,919 | €279,445 | -€47,475 | -14.5% |
| Land and buildings | 22 | €165,497 | €157,637 | -€7,860 | -4.7% |
| Plant, machinery and equipment | 23 | €114,756 | €87,736 | -€27,020 | -23.5% |
| Furniture and vehicles | 24 | €46,667 | €34,072 | -€12,595 | -27.0% |
| Current assets | 29/58 | €111,567 | €76,944 | -€34,623 | -31.0% |
| Amounts receivable within one year | 40/41 | €48,359 | €28,515 | -€19,844 | -41.0% |
| Trade receivables | 40 | €45,028 | €23,459 | -€21,569 | -47.9% |
| Other amounts receivable | 41 | €3,331 | €5,056 | +€1,725 | +51.8% |
| Cash at bank and in hand | 54/58 | €62,700 | €47,403 | -€15,297 | -24.4% |
| Deferred charges and accrued income | 490/1 | €507 | €1,025 | +€518 | +102.1% |
| Total equity and liabilities | 10/49 | €438,486 | €356,388 | -€82,098 | -18.7% |
| Equity | 10/15 | €81,474 | €81,445 | -€29 | 0.0% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €80,974 | €80,945 | -€29 | 0.0% |
| Distributable reserves | 133 | €80,974 | €80,945 | -€29 | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €357,012 | €274,943 | -€82,069 | -23.0% |
| Amounts payable after more than one year | 17 | €196,663 | €174,388 | -€22,275 | -11.3% |
| Financial debts | 170/4 | €196,663 | €174,388 | -€22,275 | -11.3% |
| Amounts payable within one year | 42/48 | €158,782 | €99,139 | -€59,643 | -37.6% |
| Financial debts | 43 | €22,536 | €22,275 | -€260 | -1.2% |
| Credit institutions | 430/8 | €22,536 | €22,275 | -€260 | -1.2% |
| Trade debts | 44 | €111,141 | €56,089 | -€55,052 | -49.5% |
| Suppliers | 440/4 | €111,141 | €56,089 | -€55,052 | -49.5% |
| Taxes, remuneration and social security | 45 | €1,968 | €2,629 | +€661 | +33.6% |
| Taxes | 450/3 | €1,968 | €2,629 | +€661 | +33.6% |
| Other amounts payable | 47/48 | €23,138 | €18,145 | -€4,992 | -21.6% |
| Accrued charges and deferred income | 492/3 | €1,567 | €1,416 | -€151 | -9.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €52,598 | €54,236 | +€1,638 | +3.1% |
| Other operating charges | 640/8 | €3,356 | €3,590 | +€233 | +7.0% |
| Gross operating margin | 9900 | €64,012 | €67,159 | +€3,147 | +4.9% |
| Operating profit (loss) | 9901 | €8,058 | €9,333 | +€1,276 | +15.8% |
| Financial income | 75/76B | €514 | €0 | -€514 | -100.0% |
| Recurring financial income | 75 | €514 | €0 | -€514 | -100.0% |
| Financial charges | 65/66B | €6,575 | €5,463 | -€1,112 | -16.9% |
| Recurring financial charges | 65 | €6,575 | €5,463 | -€1,112 | -16.9% |
| Profit (loss) for the period before taxes | 9903 | €1,997 | €3,870 | +€1,873 | +93.8% |
| Income taxes | 67/77 | €1,968 | €2,629 | +€661 | +33.6% |
| Profit (loss) for the period | 9904 | €29 | €1,241 | +€1,212 | +4213.8% |
| Profit (loss) for the period to be appropriated | 9905 | €29 | €1,241 | +€1,212 | +4213.8% |
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 3 October 2026 via checked.be.