IMED: 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.
IMED
Largest movements
- Tangible fixed assets -€72,771
down €72,771 (-6.6%), from €1.1m to €1.0m
of which Land and buildings: -€42,014
- Cash -€57,195
down €57,195 (-73.9%), from €77,423 to €20,228
mainly Contributions, distributions and other (-€325,099) and Receivables within one year (-€19,942)
- Receivables within one year +€19,942
up €19,942 (+35.1%), from €56,857 to €76,799
- Reserves -€193,660
down €193,660 (-19.8%), from €978,062 to €784,402
of which Distributable reserves: -€183,811
- Other debts +€78,791
up €78,791 (+78.3%), from €100,635 to €179,426
- Taxes +€6,019
up €6,019 (+9.1%), from €66,231 to €72,250
- Gross operating margin +€5,840
up €5,840 (+1.9%), from €303,549 to €309,389
- Depreciation -€3,335
down €3,335 (-3.6%), from €92,621 to €89,286
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 | €1,412,015 | €1,293,475 | -€118,540 | -8.4% |
| Fixed assets | 21/28 | €1,178,798 | €1,094,648 | -€84,150 | -7.1% |
| Intangible fixed assets | 21 | €79,652 | €68,273 | -€11,379 | -14.3% |
| Tangible fixed assets | 22/27 | €1,099,146 | €1,026,375 | -€72,771 | -6.6% |
| Land and buildings | 22 | €910,864 | €868,850 | -€42,014 | -4.6% |
| Plant, machinery and equipment | 23 | €87,164 | €73,557 | -€13,607 | -15.6% |
| Furniture and vehicles | 24 | €8,505 | €7,000 | -€1,505 | -17.7% |
| Other tangible fixed assets | 26 | €92,613 | €76,967 | -€15,646 | -16.9% |
| Current assets | 29/58 | €233,216 | €198,827 | -€34,389 | -14.7% |
| Amounts receivable within one year | 40/41 | €56,857 | €76,799 | +€19,942 | +35.1% |
| Trade receivables | 40 | €56,857 | €76,799 | +€19,942 | +35.1% |
| Current investments | 50/53 | €48,299 | €48,312 | +€14 | 0.0% |
| Cash at bank and in hand | 54/58 | €77,423 | €20,228 | -€57,195 | -73.9% |
| Deferred charges and accrued income | 490/1 | €50,638 | €53,488 | +€2,850 | +5.6% |
| Total equity and liabilities | 10/49 | €1,412,015 | €1,293,475 | -€118,540 | -8.4% |
| Equity | 10/15 | €996,654 | €802,994 | -€193,660 | -19.4% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €978,062 | €784,402 | -€193,660 | -19.8% |
| Tax-exempt reserves | 132 | €213,838 | €203,989 | -€9,849 | -4.6% |
| Distributable reserves | 133 | €764,224 | €580,413 | -€183,811 | -24.1% |
| Provisions and deferred taxes | 16 | €110,513 | €105,576 | -€4,937 | -4.5% |
| Deferred taxes | 168 | €110,513 | €105,576 | -€4,937 | -4.5% |
| Amounts payable | 17/49 | €304,847 | €384,905 | +€80,057 | +26.3% |
| Amounts payable after more than one year | 17 | €177,621 | €177,621 | = | 0.0% |
| Financial debts | 170/4 | €177,621 | €177,621 | = | 0.0% |
| Amounts payable within one year | 42/48 | €113,876 | €194,012 | +€80,136 | +70.4% |
| Trade debts | 44 | €6,225 | €9,843 | +€3,617 | +58.1% |
| Suppliers | 440/4 | €6,225 | €9,843 | +€3,617 | +58.1% |
| Taxes, remuneration and social security | 45 | €7,016 | €4,744 | -€2,272 | -32.4% |
| Taxes | 450/3 | €7,016 | €4,744 | -€2,272 | -32.4% |
| Other amounts payable | 47/48 | €100,635 | €179,426 | +€78,791 | +78.3% |
| Accrued charges and deferred income | 492/3 | €13,350 | €13,271 | -€79 | -0.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,621 | €89,286 | -€3,335 | -3.6% |
| Other operating charges | 640/8 | €8,748 | €8,087 | -€661 | -7.6% |
| Gross operating margin | 9900 | €303,549 | €309,389 | +€5,840 | +1.9% |
| Operating profit (loss) | 9901 | €202,180 | €212,016 | +€9,836 | +4.9% |
| Financial income | 75/76B | €22 | €31 | +€9 | +43.2% |
| Recurring financial income | 75 | €22 | €31 | +€9 | +43.2% |
| Financial charges | 65/66B | €13,492 | €13,295 | -€197 | -1.5% |
| Recurring financial charges | 65 | €13,492 | €13,295 | -€197 | -1.5% |
| Profit (loss) for the period before taxes | 9903 | €188,710 | €198,752 | +€10,042 | +5.3% |
| Transfer from deferred taxes | 780 | €4,937 | €4,937 | = | 0.0% |
| Income taxes | 67/77 | €66,231 | €72,250 | +€6,019 | +9.1% |
| Profit (loss) for the period | 9904 | €127,416 | €131,439 | +€4,023 | +3.2% |
| Transfer from tax-exempt reserves | 789 | €9,849 | €9,849 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €137,265 | €141,288 | +€4,023 | +2.9% |
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 1 October 2026 via checked.be.