IMEVAN: 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.
IMEVAN
Largest movements
- Cash -€248,547
down €248,547 (-70.4%), from €352,879 to €104,332
mainly Other debts (-€305,800) and Investment in fixed assets (net) (-€74,720)
- Tangible fixed assets +€22,524
up €22,524 (+2.4%), from €942,846 to €965,370
of which Land and buildings: +€23,309
- Other debts -€305,800
down €305,800 (-37.8%), from €809,340 to €503,540
- Reserves +€92,486
up €92,486 (+17.3%), from €533,460 to €625,946
of which Distributable reserves: +€92,486
- Gross operating margin +€106,607
up €106,607 (+74.1%), from €143,815 to €250,423
- Financial income -€96,140
down €96,140 (-90.0%), from €106,830 to €10,690
- Financial charges -€15,966
down €15,966 (-98.2%), from €16,259 to €293
- Taxes +€8,031
up €8,031 (+22.8%), from €35,148 to €43,179
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 | €1,669,703 | €1,439,266 | -€230,438 | -13.8% |
| Fixed assets | 21/28 | €942,846 | €965,370 | +€22,524 | +2.4% |
| Tangible fixed assets | 22/27 | €942,846 | €965,370 | +€22,524 | +2.4% |
| Land and buildings | 22 | €941,713 | €965,022 | +€23,309 | +2.5% |
| Plant, machinery and equipment | 23 | €1,134 | €349 | -€785 | -69.3% |
| Current assets | 29/58 | €726,857 | €473,895 | -€252,961 | -34.8% |
| Amounts receivable within one year | 40/41 | - | €26 | +€26 | |
| Other amounts receivable | 41 | - | €26 | +€26 | |
| Current investments | 50/53 | €360,000 | €360,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €352,879 | €104,332 | -€248,547 | -70.4% |
| Deferred charges and accrued income | 490/1 | €13,978 | €9,537 | -€4,441 | -31.8% |
| Total equity and liabilities | 10/49 | €1,669,703 | €1,439,266 | -€230,438 | -13.8% |
| Equity | 10/15 | €813,460 | €905,946 | +€92,486 | +11.4% |
| Contributions | 10/11 | €280,000 | €280,000 | = | 0.0% |
| Capital | 10 | €280,000 | €280,000 | = | 0.0% |
| Issued capital | 100 | €280,000 | €280,000 | = | 0.0% |
| Reserves | 13 | €533,460 | €625,946 | +€92,486 | +17.3% |
| Non-distributable reserves | 130/1 | €128,000 | €128,000 | = | 0.0% |
| Legal reserve | 130 | €128,000 | €128,000 | = | 0.0% |
| Distributable reserves | 133 | €405,460 | €497,946 | +€92,486 | +22.8% |
| Amounts payable | 17/49 | €856,244 | €533,320 | -€322,924 | -37.7% |
| Amounts payable after more than one year | 17 | €9,668 | €0 | -€9,668 | -100.0% |
| Financial debts | 170/4 | €9,668 | €0 | -€9,668 | -100.0% |
| Amounts payable within one year | 42/48 | €846,576 | €533,320 | -€313,256 | -37.0% |
| Current portion of amounts payable after more than one year | 42 | €19,222 | €9,668 | -€9,555 | -49.7% |
| Trade debts | 44 | €1,196 | €2,737 | +€1,541 | +128.8% |
| Suppliers | 440/4 | €1,196 | €2,737 | +€1,541 | +128.8% |
| Taxes, remuneration and social security | 45 | €16,817 | €17,375 | +€558 | +3.3% |
| Taxes | 450/3 | €14,640 | €14,640 | = | 0.0% |
| Remuneration and social security | 454/9 | €2,177 | €2,735 | +€558 | +25.6% |
| Other amounts payable | 47/48 | €809,340 | €503,540 | -€305,800 | -37.8% |
| Remuneration, social security and pensions | 62 | €26,114 | €25,976 | -€139 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,673 | €52,197 | -€2,476 | -4.5% |
| Other operating charges | 640/8 | €45,551 | €46,982 | +€1,431 | +3.1% |
| Gross operating margin | 9900 | €143,815 | €250,423 | +€106,607 | +74.1% |
| Operating profit (loss) | 9901 | €17,477 | €125,268 | +€107,791 | +616.8% |
| Financial income | 75/76B | €106,830 | €10,690 | -€96,140 | -90.0% |
| Recurring financial income | 75 | €106,830 | €10,690 | -€96,140 | -90.0% |
| Financial charges | 65/66B | €16,259 | €293 | -€15,966 | -98.2% |
| Recurring financial charges | 65 | €16,259 | €293 | -€15,966 | -98.2% |
| Profit (loss) for the period before taxes | 9903 | €108,048 | €135,665 | +€27,617 | +25.6% |
| Income taxes | 67/77 | €35,148 | €43,179 | +€8,031 | +22.8% |
| Profit (loss) for the period | 9904 | €72,900 | €92,486 | +€19,586 | +26.9% |
| Profit (loss) for the period to be appropriated | 9905 | €72,900 | €92,486 | +€19,586 | +26.9% |
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 28 September 2026 via checked.be.