IMFOR: 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.
IMFOR
Largest movements
- Tangible fixed assets +€36,039
up €36,039 (+8.5%), from €421,769 to €457,808
- Receivables within one year +€18,181
up €18,181 (+17.1%), from €106,531 to €124,713
- Profit (loss) carried forward +€71,374
up €71,374 (+26.7%), from €267,501 to €338,874
- Tax, wage and social debts -€22,520
down €22,520 (-45.6%), from €49,433 to €26,913
- Gross operating margin +€12,128
up €12,128 (+8.0%), from €150,818 to €162,945
- Depreciation +€5,879
up €5,879 (+21.7%), from €27,129 to €33,007
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €528,300 | €582,521 | +€54,221 | +10.3% |
| Fixed assets | 21/28 | €421,769 | €457,808 | +€36,039 | +8.5% |
| Tangible fixed assets | 22/27 | €421,769 | €457,808 | +€36,039 | +8.5% |
| Land and buildings | 22 | €421,769 | €457,808 | +€36,039 | +8.5% |
| Current assets | 29/58 | €106,531 | €124,713 | +€18,181 | +17.1% |
| Amounts receivable within one year | 40/41 | €106,531 | €124,713 | +€18,181 | +17.1% |
| Other amounts receivable | 41 | €106,531 | €124,713 | +€18,181 | +17.1% |
| Total equity and liabilities | 10/49 | €528,300 | €582,521 | +€54,221 | +10.3% |
| Equity | 10/15 | €467,748 | €542,878 | +€75,130 | +16.1% |
| Contributions | 10/11 | €185,920 | €185,920 | = | 0.0% |
| Capital | 10 | €185,920 | €185,920 | = | 0.0% |
| Issued capital | 100 | €185,920 | €185,920 | = | 0.0% |
| Reserves | 13 | €14,327 | €18,083 | +€3,757 | +26.2% |
| Non-distributable reserves | 130/1 | €14,327 | €18,083 | +€3,757 | +26.2% |
| Legal reserve | 130 | €14,327 | €18,083 | +€3,757 | +26.2% |
| Profit (loss) carried forward | 14 | €267,501 | €338,874 | +€71,374 | +26.7% |
| Amounts payable | 17/49 | €60,552 | €39,643 | -€20,909 | -34.5% |
| Amounts payable within one year | 42/48 | €60,552 | €39,643 | -€20,909 | -34.5% |
| Trade debts | 44 | €11,119 | €12,730 | +€1,611 | +14.5% |
| Suppliers | 440/4 | €11,119 | €12,730 | +€1,611 | +14.5% |
| Taxes, remuneration and social security | 45 | €49,433 | €26,913 | -€22,520 | -45.6% |
| Taxes | 450/3 | €49,433 | €26,913 | -€22,520 | -45.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,129 | €33,007 | +€5,879 | +21.7% |
| Other operating charges | 640/8 | €27,916 | €28,993 | +€1,077 | +3.9% |
| Gross operating margin | 9900 | €150,818 | €162,945 | +€12,128 | +8.0% |
| Operating profit (loss) | 9901 | €95,773 | €100,945 | +€5,172 | +5.4% |
| Profit (loss) for the period before taxes | 9903 | €95,773 | €100,945 | +€5,172 | +5.4% |
| Income taxes | 67/77 | €26,098 | €25,815 | -€284 | -1.1% |
| Profit (loss) for the period | 9904 | €69,675 | €75,130 | +€5,455 | +7.8% |
| Profit (loss) for the period to be appropriated | 9905 | €69,675 | €75,130 | +€5,455 | +7.8% |
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.