Imef: 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.
Imef
Largest movements
- Cash +€16,980
up €16,980 (+34.0%), from €49,965 to €66,945
mainly Net result for the year (+€15,115) and Tax, wage and social debts (+€4,259)
- Tangible fixed assets +€1,959
up €1,959 (+4.9%), from €39,791 to €41,750
of which Land and buildings: +€2,219
- Reserves +€15,115
up €15,115 (+73.5%), from €20,569 to €35,684
of which Distributable reserves: +€15,115
- Tax, wage and social debts +€4,259
up €4,259 (+727.4%), from €586 to €4,845
- Gross operating margin +€11,200
up €11,200 (+75.5%), from €14,833 to €26,033
- Taxes +€3,804
up €3,804 (+106.1%), from €3,586 to €7,389
- Financial income +€433
up €433, from €0 to €433
- Other operating charges +€294
up €294 (+10.2%), from €2,893 to €3,187
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 | €90,775 | €109,496 | +€18,721 | +20.6% |
| Fixed assets | 21/28 | €39,791 | €41,750 | +€1,959 | +4.9% |
| Tangible fixed assets | 22/27 | €39,791 | €41,750 | +€1,959 | +4.9% |
| Land and buildings | 22 | €38,690 | €40,909 | +€2,219 | +5.7% |
| Plant, machinery and equipment | 23 | €1,101 | €841 | -€260 | -23.6% |
| Current assets | 29/58 | €50,984 | €67,746 | +€16,762 | +32.9% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €49,965 | €66,945 | +€16,980 | +34.0% |
| Deferred charges and accrued income | 490/1 | €1,019 | €801 | -€218 | -21.4% |
| Total equity and liabilities | 10/49 | €90,775 | €109,496 | +€18,721 | +20.6% |
| Equity | 10/15 | €76,681 | €91,796 | +€15,115 | +19.7% |
| Contributions | 10/11 | €27,115 | €27,115 | = | 0.0% |
| Reserves | 13 | €20,569 | €35,684 | +€15,115 | +73.5% |
| Tax-exempt reserves | 132 | €7,251 | €7,251 | = | 0.0% |
| Distributable reserves | 133 | €13,318 | €28,433 | +€15,115 | +113.5% |
| Profit (loss) carried forward | 14 | €28,996 | €28,996 | = | 0.0% |
| Amounts payable | 17/49 | €14,095 | €17,701 | +€3,606 | +25.6% |
| Amounts payable within one year | 42/48 | €12,903 | €16,484 | +€3,581 | +27.8% |
| Trade debts | 44 | €971 | €969 | -€2 | -0.2% |
| Suppliers | 440/4 | €971 | €969 | -€2 | -0.2% |
| Taxes, remuneration and social security | 45 | €586 | €4,845 | +€4,259 | +727.4% |
| Taxes | 450/3 | €586 | €4,845 | +€4,259 | +727.4% |
| Other amounts payable | 47/48 | €11,347 | €10,671 | -€676 | -6.0% |
| Accrued charges and deferred income | 492/3 | €1,191 | €1,216 | +€25 | +2.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €628 | €769 | +€141 | +22.5% |
| Other operating charges | 640/8 | €2,893 | €3,187 | +€294 | +10.2% |
| Gross operating margin | 9900 | €14,833 | €26,033 | +€11,200 | +75.5% |
| Operating profit (loss) | 9901 | €11,313 | €22,077 | +€10,765 | +95.2% |
| Financial income | 75/76B | €0 | €433 | +€433 | |
| Recurring financial income | 75 | €0 | €433 | +€433 | |
| Financial charges | 65/66B | €44 | €5 | -€38 | -87.4% |
| Recurring financial charges | 65 | €44 | €5 | -€38 | -87.4% |
| Profit (loss) for the period before taxes | 9903 | €11,269 | €22,504 | +€11,235 | +99.7% |
| Income taxes | 67/77 | €3,586 | €7,389 | +€3,804 | +106.1% |
| Profit (loss) for the period | 9904 | €7,683 | €15,115 | +€7,432 | +96.7% |
| Profit (loss) for the period to be appropriated | 9905 | €7,683 | €15,115 | +€7,432 | +96.7% |
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 29 September 2026 via checked.be.