IMFABO: 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.
IMFABO
Largest movements
- Cash +€106,379
up €106,379 (+123.9%), from €85,835 to €192,214
mainly Net result for the year (+€316,508) and Trade debts (+€28,688)
- Deferred charges and accrued income +€11,343
up €11,343 (+46.2%), from €24,577 to €35,920
- Receivables within one year +€6,755
up €6,755 (+3.2%), from €211,959 to €218,714
of which Trade receivables: +€7,839
- Reserves +€116,035
up €116,035 (+36.0%), from €322,472 to €438,508
of which Distributable reserves: +€123,000
- Other debts -€45,713
down €45,713 (-98.1%), from €46,611 to €897
- Trade debts +€28,688
up €28,688 (+409.3%), from €7,010 to €35,698
- Tax, wage and social debts +€24,059
up €24,059 (+72.5%), from €33,164 to €57,223
of which Taxes: +€24,911
- Gross operating margin +€77,140
up €77,140 (+12.9%), from €596,499 to €673,639
- Taxes +€29,125
up €29,125 (+34.4%), from €84,741 to €113,866
- Staff costs -€18,292
down €18,292 (-7.1%), from €258,040 to €239,747
- Financial income +€8,355
up €8,355 (+98.9%), from €8,451 to €16,806
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 | €454,971 | €575,860 | +€120,889 | +26.6% |
| Fixed assets | 21/28 | €132,601 | €129,013 | -€3,588 | -2.7% |
| Tangible fixed assets | 22/27 | €132,601 | €129,013 | -€3,588 | -2.7% |
| Land and buildings | 22 | €110,915 | €103,380 | -€7,536 | -6.8% |
| Furniture and vehicles | 24 | €21,686 | €25,633 | +€3,947 | +18.2% |
| Current assets | 29/58 | €322,370 | €446,847 | +€124,477 | +38.6% |
| Amounts receivable within one year | 40/41 | €211,959 | €218,714 | +€6,755 | +3.2% |
| Trade receivables | 40 | €206,048 | €213,887 | +€7,839 | +3.8% |
| Other amounts receivable | 41 | €5,911 | €4,827 | -€1,084 | -18.3% |
| Cash at bank and in hand | 54/58 | €85,835 | €192,214 | +€106,379 | +123.9% |
| Deferred charges and accrued income | 490/1 | €24,577 | €35,920 | +€11,343 | +46.2% |
| Total equity and liabilities | 10/49 | €454,971 | €575,860 | +€120,889 | +26.6% |
| Equity | 10/15 | €350,365 | €466,873 | +€116,508 | +33.3% |
| Contributions | 10/11 | €27,500 | €27,500 | = | 0.0% |
| Reserves | 13 | €322,472 | €438,508 | +€116,035 | +36.0% |
| Tax-exempt reserves | 132 | €52,472 | €45,508 | -€6,965 | -13.3% |
| Distributable reserves | 133 | €270,000 | €393,000 | +€123,000 | +45.6% |
| Profit (loss) carried forward | 14 | €392 | €865 | +€473 | +120.5% |
| Provisions and deferred taxes | 16 | €17,491 | €15,169 | -€2,322 | -13.3% |
| Deferred taxes | 168 | €17,491 | €15,169 | -€2,322 | -13.3% |
| Amounts payable | 17/49 | €87,116 | €93,818 | +€6,702 | +7.7% |
| Amounts payable within one year | 42/48 | €86,784 | €93,818 | +€7,034 | +8.1% |
| Trade debts | 44 | €7,010 | €35,698 | +€28,688 | +409.3% |
| Suppliers | 440/4 | €7,010 | €35,698 | +€28,688 | +409.3% |
| Taxes, remuneration and social security | 45 | €33,164 | €57,223 | +€24,059 | +72.5% |
| Taxes | 450/3 | €4,300 | €29,211 | +€24,911 | +579.3% |
| Remuneration and social security | 454/9 | €28,864 | €28,012 | -€852 | -3.0% |
| Other amounts payable | 47/48 | €46,611 | €897 | -€45,713 | -98.1% |
| Accrued charges and deferred income | 492/3 | €332 | - | -€332 | |
| Remuneration, social security and pensions | 62 | €258,040 | €239,747 | -€18,292 | -7.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,349 | €17,107 | +€758 | +4.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €695 | - | -€695 | |
| Other operating charges | 640/8 | €1,048 | €1,165 | +€117 | +11.2% |
| Gross operating margin | 9900 | €596,499 | €673,639 | +€77,140 | +12.9% |
| Operating profit (loss) | 9901 | €320,367 | €415,620 | +€95,253 | +29.7% |
| Financial income | 75/76B | €8,451 | €16,806 | +€8,355 | +98.9% |
| Recurring financial income | 75 | €8,451 | €16,806 | +€8,355 | +98.9% |
| Financial charges | 65/66B | €7,010 | €4,373 | -€2,637 | -37.6% |
| Recurring financial charges | 65 | €7,010 | €4,373 | -€2,637 | -37.6% |
| Profit (loss) for the period before taxes | 9903 | €321,808 | €428,053 | +€106,245 | +33.0% |
| Transfer from deferred taxes | 780 | €2,322 | €2,322 | = | 0.0% |
| Income taxes | 67/77 | €84,741 | €113,866 | +€29,125 | +34.4% |
| Profit (loss) for the period | 9904 | €239,389 | €316,508 | +€77,119 | +32.2% |
| Transfer from tax-exempt reserves | 789 | €6,965 | €6,965 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €246,354 | €323,473 | +€77,119 | +31.3% |
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.