IMEX: what changed
IMEX
Largest movements
- Receivables within one year +€16,368
up €16,368 (+190%), from €8,624 to €24,991
of which Trade receivables: +€13,561
- Tangible fixed assets +€8,545
up €8,545 (+41.1%), from €20,771 to €29,316
of which Plant, machinery and equipment: +€6,412
- Stocks and contracts +€8,341
up €8,341 (+14.8%), from €56,292 to €64,633
- Cash -€5,242
down €5,242 (-12.3%), from €42,738 to €37,495
mainly Receivables within one year (-€16,368) and Investment in fixed assets (net) (-€14,331)
- Other debts +€25,845
up €25,845 (+102%), from €25,338 to €51,183
- Trade debts -€14,019
down €14,019 (-33.5%), from €41,846 to €27,828
- Profit (loss) carried forward +€13,940
no longer reported in 2025 (was -€13,940)
- Reserves +€8,587
up €8,587 (+334%), from €2,573 to €11,159
- Debts after one year -€5,058
down €5,058 (-12.8%), from €39,508 to €34,450
- Gross operating margin +€26,078
up €26,078 (+355%), from €7,356 to €33,434
- Depreciation +€1,798
up €1,798 (+45.1%), from €3,989 to €5,786
- Taxes +€1,679
new in 2025: €1,679
- Other operating charges +€350
up €350 (+16.8%), from €2,086 to €2,437
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €130,714 | €158,337 | +€27,622 | +21.1% |
| Fixed assets | 21/28 | €22,271 | €30,816 | +€8,545 | +38.4% |
| Tangible fixed assets | 22/27 | €20,771 | €29,316 | +€8,545 | +41.1% |
| Land and buildings | 22 | €3,119 | €2,604 | -€515 | -16.5% |
| Plant, machinery and equipment | 23 | €16,715 | €23,128 | +€6,412 | +38.4% |
| Furniture and vehicles | 24 | €937 | €3,585 | +€2,648 | +283% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €108,443 | €127,521 | +€19,077 | +17.6% |
| Stocks and contracts in progress | 3 | €56,292 | €64,633 | +€8,341 | +14.8% |
| Stocks | 30/36 | €56,292 | €64,633 | +€8,341 | +14.8% |
| Amounts receivable within one year | 40/41 | €8,624 | €24,991 | +€16,368 | +190% |
| Trade receivables | 40 | €8,593 | €22,154 | +€13,561 | +158% |
| Other amounts receivable | 41 | €31 | €2,837 | +€2,807 | +9,194% |
| Cash at bank and in hand | 54/58 | €42,738 | €37,495 | -€5,242 | -12.3% |
| Deferred charges and accrued income | 490/1 | €791 | €402 | -€389 | -49.2% |
| Total equity and liabilities | 10/49 | €130,714 | €158,337 | +€27,622 | +21.1% |
| Equity | 10/15 | -€5,168 | €17,359 | +€22,527 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €2,573 | €11,159 | +€8,587 | +334% |
| Distributable reserves | 133 | €2,573 | €11,159 | +€8,587 | +334% |
| Profit (loss) carried forward | 14 | -€13,940 | - | +€13,940 | |
| Amounts payable | 17/49 | €135,882 | €140,977 | +€5,095 | +3.7% |
| Amounts payable after more than one year | 17 | €39,508 | €34,450 | -€5,058 | -12.8% |
| Financial debts | 170/4 | €39,508 | €34,450 | -€5,058 | -12.8% |
| Amounts payable within one year | 42/48 | €96,374 | €106,528 | +€10,154 | +10.5% |
| Current portion of amounts payable after more than one year | 42 | €4,939 | €5,058 | +€119 | +2.4% |
| Trade debts | 44 | €41,846 | €27,828 | -€14,019 | -33.5% |
| Suppliers | 440/4 | €41,846 | €27,828 | -€14,019 | -33.5% |
| Advances received on contracts in progress | 46 | €14,574 | €15,949 | +€1,375 | +9.4% |
| Taxes, remuneration and social security | 45 | €9,677 | €6,511 | -€3,167 | -32.7% |
| Taxes | 450/3 | €9,677 | €6,511 | -€3,167 | -32.7% |
| Other amounts payable | 47/48 | €25,338 | €51,183 | +€25,845 | +102% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,989 | €5,786 | +€1,798 | +45.1% |
| Other operating charges | 640/8 | €2,086 | €2,437 | +€350 | +16.8% |
| Gross operating margin | 9900 | €7,356 | €33,434 | +€26,078 | +355% |
| Operating profit (loss) | 9901 | €1,281 | €25,211 | +€23,930 | +1,868% |
| Financial income | 75/76B | €0 | €26 | +€25 | +9,785% |
| Recurring financial income | 75 | €0 | €26 | +€25 | +9,785% |
| Financial charges | 65/66B | €1,173 | €1,031 | -€142 | -12.1% |
| Recurring financial charges | 65 | €1,173 | €1,031 | -€142 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | €108 | €24,205 | +€24,097 | +22,275% |
| Income taxes | 67/77 | - | €1,679 | +€1,679 | |
| Profit (loss) for the period | 9904 | €108 | €22,527 | +€22,419 | +20,724% |
| Profit (loss) for the period to be appropriated | 9905 | €108 | €22,527 | +€22,419 | +20,724% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.