IMERA: 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.
IMERA
Largest movements
- Cash +€172,924
up €172,924 (+1412.7%), from €12,241 to €185,165
mainly Net result for the year (+€118,414) and Investment in fixed assets (net) (+€113,956)
- Tangible fixed assets -€168,120
down €168,120 (-14.6%), from €1.2m to €983,663
of which Land and buildings: -€167,418
- Current investments +€125,000
new in 2025: €125,000
- Reserves +€118,414
up €118,414 (+19.5%), from €606,792 to €725,206
of which Tax-exempt reserves: +€104,079
- Provisions +€34,693
up €34,693 (+17.9%), from €194,178 to €228,871
of which Deferred taxes: +€34,693
- Gross operating margin +€152,776
up €152,776 (+201.8%), from €75,724 to €228,500
- Depreciation -€9,328
down €9,328 (-14.7%), from €63,492 to €54,164
- Financial charges -€2,633
down €2,633 (-21.1%), from €12,476 to €9,843
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 | €1,168,027 | €1,300,765 | +€132,737 | +11.4% |
| Fixed assets | 21/28 | €1,151,783 | €983,663 | -€168,120 | -14.6% |
| Tangible fixed assets | 22/27 | €1,151,783 | €983,663 | -€168,120 | -14.6% |
| Land and buildings | 22 | €1,150,405 | €982,988 | -€167,418 | -14.6% |
| Furniture and vehicles | 24 | €1,378 | €675 | -€702 | -51.0% |
| Current assets | 29/58 | €16,245 | €317,102 | +€300,857 | +1852.1% |
| Amounts receivable after more than one year | 29 | €1,469 | €1,469 | = | 0.0% |
| Other amounts receivable | 291 | €1,469 | €1,469 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,535 | €5,468 | +€2,933 | +115.7% |
| Other amounts receivable | 41 | €2,535 | €5,468 | +€2,933 | +115.7% |
| Current investments | 50/53 | - | €125,000 | +€125,000 | |
| Cash at bank and in hand | 54/58 | €12,241 | €185,165 | +€172,924 | +1412.7% |
| Total equity and liabilities | 10/49 | €1,168,027 | €1,300,765 | +€132,737 | +11.4% |
| Equity | 10/15 | €668,792 | €787,206 | +€118,414 | +17.7% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €606,792 | €725,206 | +€118,414 | +19.5% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €537,534 | €641,613 | +€104,079 | +19.4% |
| Distributable reserves | 133 | €63,058 | €77,393 | +€14,335 | +22.7% |
| Provisions and deferred taxes | 16 | €194,178 | €228,871 | +€34,693 | +17.9% |
| Provisions for liabilities and charges | 160/5 | €15,000 | €15,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €15,000 | €15,000 | = | 0.0% |
| Deferred taxes | 168 | €179,178 | €213,871 | +€34,693 | +19.4% |
| Amounts payable | 17/49 | €305,057 | €284,688 | -€20,369 | -6.7% |
| Amounts payable after more than one year | 17 | €80,553 | €76,785 | -€3,768 | -4.7% |
| Financial debts | 170/4 | €80,553 | €76,785 | -€3,768 | -4.7% |
| Amounts payable within one year | 42/48 | €224,504 | €206,899 | -€17,605 | -7.8% |
| Current portion of amounts payable after more than one year | 42 | €13,571 | €3,768 | -€9,803 | -72.2% |
| Trade debts | 44 | - | €5 | +€5 | |
| Suppliers | 440/4 | - | €5 | +€5 | |
| Taxes, remuneration and social security | 45 | €3,277 | €5,656 | +€2,379 | +72.6% |
| Taxes | 450/3 | €3,277 | €5,656 | +€2,379 | +72.6% |
| Other amounts payable | 47/48 | €207,656 | €197,469 | -€10,187 | -4.9% |
| Accrued charges and deferred income | 492/3 | - | €1,004 | +€1,004 | |
| Non-recurring operating income | 76A | - | €166,245 | +€166,245 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,492 | €54,164 | -€9,328 | -14.7% |
| Other operating charges | 640/8 | €7,443 | €7,675 | +€232 | +3.1% |
| Gross operating margin | 9900 | €75,724 | €228,500 | +€152,776 | +201.8% |
| Operating profit (loss) | 9901 | €4,788 | €166,661 | +€161,873 | +3380.6% |
| Financial income | 75/76B | - | €1,222 | +€1,222 | |
| Recurring financial income | 75 | - | €1,222 | +€1,222 | |
| Financial charges | 65/66B | €12,476 | €9,843 | -€2,633 | -21.1% |
| Recurring financial charges | 65 | €12,476 | €9,843 | -€2,633 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | -€7,688 | €158,040 | +€165,728 | |
| Transfer from deferred taxes | 780 | €6,807 | €6,807 | = | 0.0% |
| Transfer to deferred taxes | 680 | - | €41,500 | +€41,500 | |
| Income taxes | 67/77 | €4,965 | €4,933 | -€32 | -0.6% |
| Profit (loss) for the period | 9904 | -€5,846 | €118,414 | +€124,259 | |
| Transfer from tax-exempt reserves | 789 | €20,421 | €20,421 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | - | €124,500 | +€124,500 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,575 | €14,335 | -€241 | -1.7% |
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 7 October 2026 via checked.be.