IMEXOR: 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.
IMEXOR
Largest movements
- Tangible fixed assets +€23,987
up €23,987 (+64.5%), from €37,163 to €61,150
- Cash -€11,279
down €11,279 (-45.1%), from €24,997 to €13,718
mainly Investment in fixed assets (net) (-€38,156) and Receivables within one year (-€5,723)
- Stocks and contracts -€6,960
down €6,960 (-26.3%), from €26,451 to €19,491
- Receivables within one year +€5,723
up €5,723 (+13.5%), from €42,280 to €48,003
of which Other amounts receivable: +€5,744
- Debts after one year +€10,462
up €10,462 (+48.3%), from €21,643 to €32,104
- Profit (loss) carried forward +€5,999
up €5,999 (+35.9%), from €16,703 to €22,702
- Trade debts -€5,439
down €5,439 (-15.9%), from €34,104 to €28,666
- Current portion of long-term debt +€5,035
up €5,035 (+89.5%), from €5,629 to €10,665
- Tax, wage and social debts -€3,959
down €3,959 (-27.6%), from €14,336 to €10,376
of which Taxes: -€4,288
- Gross operating margin +€7,572
up €7,572 (+11.3%), from €67,048 to €74,620
- Depreciation +€6,681
up €6,681 (+89.2%), from €7,489 to €14,170
- Staff costs -€1,182
down €1,182 (-2.4%), from €50,262 to €49,080
- Financial charges +€1,091
up €1,091 (+97.7%), from €1,116 to €2,207
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 | €132,282 | €144,244 | +€11,963 | +9.0% |
| Fixed assets | 21/28 | €37,353 | €61,340 | +€23,987 | +64.2% |
| Tangible fixed assets | 22/27 | €37,163 | €61,150 | +€23,987 | +64.5% |
| Furniture and vehicles | 24 | €37,163 | €61,150 | +€23,987 | +64.5% |
| Financial fixed assets | 28 | €190 | €190 | = | 0.0% |
| Current assets | 29/58 | €94,928 | €82,904 | -€12,024 | -12.7% |
| Stocks and contracts in progress | 3 | €26,451 | €19,491 | -€6,960 | -26.3% |
| Stocks | 30/36 | €26,451 | €19,491 | -€6,960 | -26.3% |
| Amounts receivable within one year | 40/41 | €42,280 | €48,003 | +€5,723 | +13.5% |
| Trade receivables | 40 | €41,459 | €41,438 | -€21 | -0.1% |
| Other amounts receivable | 41 | €821 | €6,565 | +€5,744 | +699.5% |
| Cash at bank and in hand | 54/58 | €24,997 | €13,718 | -€11,279 | -45.1% |
| Deferred charges and accrued income | 490/1 | €1,200 | €1,692 | +€492 | +41.0% |
| Total equity and liabilities | 10/49 | €132,282 | €144,244 | +€11,963 | +9.0% |
| Equity | 10/15 | €37,587 | €43,586 | +€5,999 | +16.0% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €10,885 | €10,885 | = | 0.0% |
| Tax-exempt reserves | 132 | €9,025 | €9,025 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,703 | €22,702 | +€5,999 | +35.9% |
| Amounts payable | 17/49 | €94,694 | €100,658 | +€5,964 | +6.3% |
| Amounts payable after more than one year | 17 | €21,643 | €32,104 | +€10,462 | +48.3% |
| Financial debts | 170/4 | €21,643 | €32,104 | +€10,462 | +48.3% |
| Amounts payable within one year | 42/48 | €73,052 | €68,554 | -€4,498 | -6.2% |
| Current portion of amounts payable after more than one year | 42 | €5,629 | €10,665 | +€5,035 | +89.5% |
| Trade debts | 44 | €34,104 | €28,666 | -€5,439 | -15.9% |
| Suppliers | 440/4 | €34,104 | €28,666 | -€5,439 | -15.9% |
| Taxes, remuneration and social security | 45 | €14,336 | €10,376 | -€3,959 | -27.6% |
| Taxes | 450/3 | €5,539 | €1,251 | -€4,288 | -77.4% |
| Remuneration and social security | 454/9 | €8,797 | €9,126 | +€329 | +3.7% |
| Other amounts payable | 47/48 | €18,983 | €18,847 | -€136 | -0.7% |
| Non-recurring operating income | 76A | €5,057 | €6,055 | +€997 | +19.7% |
| Remuneration, social security and pensions | 62 | €50,262 | €49,080 | -€1,182 | -2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,489 | €14,170 | +€6,681 | +89.2% |
| Other operating charges | 640/8 | €537 | €772 | +€235 | +43.7% |
| Non-recurring operating charges | 66A | €736 | €650 | -€86 | -11.7% |
| Gross operating margin | 9900 | €67,048 | €74,620 | +€7,572 | +11.3% |
| Operating profit (loss) | 9901 | €8,025 | €9,950 | +€1,924 | +24.0% |
| Financial income | 75/76B | €478 | €92 | -€387 | -80.9% |
| Recurring financial income | 75 | €478 | €92 | -€387 | -80.9% |
| Financial charges | 65/66B | €1,116 | €2,207 | +€1,091 | +97.7% |
| Recurring financial charges | 65 | €1,116 | €2,207 | +€1,091 | +97.7% |
| Profit (loss) for the period before taxes | 9903 | €7,387 | €7,834 | +€447 | +6.0% |
| Income taxes | 67/77 | €2,529 | €1,836 | -€694 | -27.4% |
| Profit (loss) for the period | 9904 | €4,858 | €5,999 | +€1,141 | +23.5% |
| Profit (loss) for the period to be appropriated | 9905 | €4,858 | €5,999 | +€1,141 | +23.5% |
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.