IMEX: 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.
IMEX
Largest movements
- Tangible fixed assets -€22,141
down €22,141 (-8.4%), from €262,146 to €240,005
of which Land and buildings: -€13,345
- Cash +€16,846
up €16,846 (+86.8%), from €19,410 to €36,256
mainly Depreciation (+€23,557) and Receivables within one year (+€10,477)
- Receivables within one year -€10,477
down €10,477 (-100.0%), from €10,477 to €0
of which Trade receivables: -€10,219
- Tax, wage and social debts -€9,066
down €9,066 (-82.1%), from €11,040 to €1,974
- Debts after one year -€5,490
down €5,490 (-40.6%), from €13,535 to €8,045
- Profit (loss) carried forward +€5,092
up €5,092 (+15.6%), from -€32,592 to -€27,501
- Gross operating margin +€10,360
up €10,360 (+36.8%), from €28,152 to €38,512
- Taxes +€1,974
new in 2025: €1,974
- Other operating charges +€465
up €465 (+8.4%), from €5,563 to €6,028
- Financial charges -€423
down €423 (-6.8%), from €6,209 to €5,786
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 | €292,813 | €277,990 | -€14,824 | -5.1% |
| Fixed assets | 21/28 | €262,146 | €240,005 | -€22,141 | -8.4% |
| Tangible fixed assets | 22/27 | €262,146 | €240,005 | -€22,141 | -8.4% |
| Land and buildings | 22 | €228,847 | €215,501 | -€13,345 | -5.8% |
| Plant, machinery and equipment | 23 | €489 | €1,417 | +€928 | +190.0% |
| Furniture and vehicles | 24 | €32,810 | €23,087 | -€9,723 | -29.6% |
| Current assets | 29/58 | €30,668 | €37,985 | +€7,317 | +23.9% |
| Amounts receivable within one year | 40/41 | €10,477 | €0 | -€10,477 | -100.0% |
| Trade receivables | 40 | €10,219 | €0 | -€10,219 | -100.0% |
| Other amounts receivable | 41 | €258 | €0 | -€258 | -100.0% |
| Cash at bank and in hand | 54/58 | €19,410 | €36,256 | +€16,846 | +86.8% |
| Deferred charges and accrued income | 490/1 | €781 | €1,730 | +€948 | +121.4% |
| Total equity and liabilities | 10/49 | €292,813 | €277,990 | -€14,824 | -5.1% |
| Equity | 10/15 | €100,018 | €102,756 | +€2,737 | +2.7% |
| 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 | €70,611 | €68,257 | -€2,354 | -3.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €64,411 | €62,057 | -€2,354 | -3.7% |
| Profit (loss) carried forward | 14 | -€32,592 | -€27,501 | +€5,092 | +15.6% |
| Provisions and deferred taxes | 16 | €22,255 | €20,686 | -€1,570 | -7.1% |
| Deferred taxes | 168 | €22,255 | €20,686 | -€1,570 | -7.1% |
| Amounts payable | 17/49 | €170,540 | €154,549 | -€15,991 | -9.4% |
| Amounts payable after more than one year | 17 | €13,535 | €8,045 | -€5,490 | -40.6% |
| Financial debts | 170/4 | €13,535 | €8,045 | -€5,490 | -40.6% |
| Amounts payable within one year | 42/48 | €156,285 | €145,784 | -€10,502 | -6.7% |
| Current portion of amounts payable after more than one year | 42 | €4,496 | €5,490 | +€994 | +22.1% |
| Trade debts | 44 | €1,901 | €1,773 | -€128 | -6.7% |
| Suppliers | 440/4 | €1,901 | €1,773 | -€128 | -6.7% |
| Taxes, remuneration and social security | 45 | €11,040 | €1,974 | -€9,066 | -82.1% |
| Taxes | 450/3 | €11,040 | €1,974 | -€9,066 | -82.1% |
| Other amounts payable | 47/48 | €138,849 | €136,548 | -€2,301 | -1.7% |
| Accrued charges and deferred income | 492/3 | €720 | €720 | = | 0.0% |
| Non-recurring operating income | 76A | - | €9,905 | +€9,905 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,398 | €23,557 | +€158 | +0.7% |
| Other operating charges | 640/8 | €5,563 | €6,028 | +€465 | +8.4% |
| Gross operating margin | 9900 | €28,152 | €38,512 | +€10,360 | +36.8% |
| Operating profit (loss) | 9901 | -€810 | €8,927 | +€9,737 | |
| Financial charges | 65/66B | €6,209 | €5,786 | -€423 | -6.8% |
| Recurring financial charges | 65 | €6,209 | €5,786 | -€423 | -6.8% |
| Profit (loss) for the period before taxes | 9903 | -€7,019 | €3,141 | +€10,160 | |
| Transfer from deferred taxes | 780 | €0 | €1,570 | +€1,570 | |
| Income taxes | 67/77 | - | €1,974 | +€1,974 | |
| Profit (loss) for the period | 9904 | -€7,019 | €2,737 | +€9,756 | |
| Transfer from tax-exempt reserves | 789 | €2,354 | €2,354 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,665 | €5,092 | +€9,756 |
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 30 September 2026 via checked.be.