IMEMO: 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.
What changed
IMEMO
NACE 43.990, Other specialised construction activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€110,216
2024 · €100,864+€9,351
Equity
€2.6m
2024 · €2.5m+€110,216
Cash
€133,110
2024 · €117,510+€15,600
Balance sheet total
€2.7m
2024 · €2.6m+€133,541
Largest movements
Assets
- Receivables after one year +€250,000
new in 2025: €250,000
- Current investments -€200,000
down €200,000 (-16.7%), from €1.2m to €1.0m
- Receivables within one year +€61,328
up €61,328 (+470.8%), from €13,026 to €74,354
of which Trade receivables: +€48,888
Equity and liabilities
- Profit (loss) carried forward +€110,216
up €110,216 (+5.3%), from €2.1m to €2.2m
Income statement
- Gross operating margin +€52,792
up €52,792 (+13.8%), from €382,088 to €434,880
- Financial income -€40,232
down €40,232 (-60.7%), from €66,333 to €26,101
- Depreciation -€27,825
down €27,825 (-26.7%), from €104,281 to €76,456
- Staff costs +€26,197
up €26,197 (+13.2%), from €198,716 to €224,913
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.
Result 2024
€100,864
Gross operating margin
+€52,792
Staff costs
-€26,197
Depreciation
+€27,825
Other operating charges
-€1,120
Financial income
-€40,232
Financial charges
+€291
Taxes
-€4,009
Result 2025
€110,216
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.
From operations
-€105,904
Investment
+€121,504
Financing
€0
Cash 2024
€117,510
From operations (derived)
-€105,904
Net result for the year
+€110,216
Depreciation
+€76,456
Receivables after one year
-€250,000
Smaller working-capital items
-€66
Receivables within one year
-€61,328
Deferred charges and accrued income
-€4,606
Trade debts
+€18,215
Tax, wage and social debts
+€5,209
Investment (derived)
+€121,504
Investment in fixed assets (net)
-€78,496
Current investments
+€200,000
Cash 2025
€133,110
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,552,658 | €2,686,199 | +€133,541 | +5.2% |
| Fixed assets | 21/28 | €1,160,185 | €1,162,225 | +€2,040 | +0.2% |
| Tangible fixed assets | 22/27 | €1,160,050 | €1,159,200 | -€850 | -0.1% |
| Land and buildings | 22 | €943,206 | €915,590 | -€27,616 | -2.9% |
| Plant, machinery and equipment | 23 | €22,477 | €17,460 | -€5,016 | -22.3% |
| Furniture and vehicles | 24 | €55,008 | €104,428 | +€49,420 | +89.8% |
| Other tangible fixed assets | 26 | €139,359 | €121,721 | -€17,638 | -12.7% |
| Financial fixed assets | 28 | €135 | €3,025 | +€2,890 | +2140.7% |
| Current assets | 29/58 | €1,392,473 | €1,523,974 | +€131,501 | +9.4% |
| Amounts receivable after more than one year | 29 | - | €250,000 | +€250,000 | |
| Other amounts receivable | 291 | - | €250,000 | +€250,000 | |
| Stocks and contracts in progress | 3 | €53,027 | €52,994 | -€33 | -0.1% |
| Stocks | 30/36 | €36,017 | €43,852 | +€7,834 | +21.8% |
| Contracts in progress | 37 | €17,010 | €9,142 | -€7,867 | -46.3% |
| Amounts receivable within one year | 40/41 | €13,026 | €74,354 | +€61,328 | +470.8% |
| Trade receivables | 40 | €2,919 | €51,806 | +€48,888 | +1675.0% |
| Other amounts receivable | 41 | €10,107 | €22,547 | +€12,441 | +123.1% |
| Current investments | 50/53 | €1,200,000 | €1,000,000 | -€200,000 | -16.7% |
| Cash at bank and in hand | 54/58 | €117,510 | €133,110 | +€15,600 | +13.3% |
| Deferred charges and accrued income | 490/1 | €8,910 | €13,516 | +€4,606 | +51.7% |
| Total equity and liabilities | 10/49 | €2,552,658 | €2,686,199 | +€133,541 | +5.2% |
| Equity | 10/15 | €2,520,212 | €2,630,428 | +€110,216 | +4.4% |
| Contributions | 10/11 | €40,450 | €40,450 | = | 0.0% |
| Reserves | 13 | €408,195 | €408,195 | = | 0.0% |
| Tax-exempt reserves | 132 | €29,150 | €29,150 | = | 0.0% |
| Distributable reserves | 133 | €379,045 | €379,045 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,071,567 | €2,181,783 | +€110,216 | +5.3% |
| Amounts payable | 17/49 | €32,446 | €55,772 | +€23,325 | +71.9% |
| Amounts payable within one year | 42/48 | €32,183 | €55,607 | +€23,424 | +72.8% |
| Trade debts | 44 | €12,597 | €30,812 | +€18,215 | +144.6% |
| Suppliers | 440/4 | €12,597 | €30,812 | +€18,215 | +144.6% |
| Taxes, remuneration and social security | 45 | €19,586 | €24,795 | +€5,209 | +26.6% |
| Remuneration and social security | 454/9 | €19,586 | €24,795 | +€5,209 | +26.6% |
| Accrued charges and deferred income | 492/3 | €263 | €164 | -€99 | -37.6% |
| Non-recurring operating income | 76A | €21,890 | €9,446 | -€12,444 | -56.8% |
| Remuneration, social security and pensions | 62 | €198,716 | €224,913 | +€26,197 | +13.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €104,281 | €76,456 | -€27,825 | -26.7% |
| Other operating charges | 640/8 | €11,474 | €12,594 | +€1,120 | +9.8% |
| Gross operating margin | 9900 | €382,088 | €434,880 | +€52,792 | +13.8% |
| Operating profit (loss) | 9901 | €67,617 | €120,918 | +€53,301 | +78.8% |
| Financial income | 75/76B | €66,333 | €26,101 | -€40,232 | -60.7% |
| Recurring financial income | 75 | €66,333 | €26,101 | -€40,232 | -60.7% |
| Financial charges | 65/66B | €1,573 | €1,282 | -€291 | -18.5% |
| Recurring financial charges | 65 | €1,573 | €1,282 | -€291 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €132,377 | €145,737 | +€13,360 | +10.1% |
| Income taxes | 67/77 | €31,512 | €35,521 | +€4,009 | +12.7% |
| Profit (loss) for the period | 9904 | €100,864 | €110,216 | +€9,351 | +9.3% |
| Profit (loss) for the period to be appropriated | 9905 | €100,864 | €110,216 | +€9,351 | +9.3% |
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.