IMG TOITURES: what changed
Two financial 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.
IMG TOITURES
Largest movements
- Tangible fixed assets +€120,688
up €120,688 (+565%), from €21,352 to €142,040
of which Leasing and similar rights: +€113,313
- Receivables within one year +€22,411
up €22,411 (+119%), from €18,863 to €41,274
of which Trade receivables: +€17,582
- Stocks and contracts -€4,667
down €4,667 (-34.3%), from €13,613 to €8,946
- Cash +€3,330
up €3,330 (+601%), from €554 to €3,884
mainly Debts after one year (+€91,904) and Trade debts (+€28,753)
- Deferred charges and accrued income +€2,372
new in 2025: €2,372
- Debts after one year +€91,904
new in 2025: €91,904
- Trade debts +€28,753
up €28,753 (+1,321%), from €2,176 to €30,929
- Profit (loss) carried forward +€14,745
up €14,745, from -€1,647 to €13,098
- Current portion of long-term debt +€13,388
new in 2025: €13,388
- Other debts -€3,301
down €3,301 (-9.0%), from €36,576 to €33,275
- Gross operating margin +€54,660
up €54,660 (+111%), from €49,343 to €104,003
- Staff costs +€16,355
up €16,355 (+30.7%), from €53,246 to €69,601
- Depreciation +€5,350
up €5,350 (+42.6%), from €12,550 to €17,900
- Financial income +€1,620
up €1,620 (+441%), from €367 to €1,987
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.
Derived cash bridge
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 | €54,739 | €198,778 | +€144,039 | +263% |
| Formation expenses | 20 | €95 | - | -€95 | |
| Fixed assets | 21/28 | €21,614 | €142,302 | +€120,688 | +558% |
| Tangible fixed assets | 22/27 | €21,352 | €142,040 | +€120,688 | +565% |
| Plant, machinery and equipment | 23 | €8,065 | €19,741 | +€11,676 | +145% |
| Furniture and vehicles | 24 | €13,287 | €8,986 | -€4,301 | -32.4% |
| Leasing and similar rights | 25 | - | €113,313 | +€113,313 | |
| Financial fixed assets | 28 | €262 | €262 | = | 0.0% |
| Current assets | 29/58 | €33,030 | €56,476 | +€23,446 | +71.0% |
| Stocks and contracts in progress | 3 | €13,613 | €8,946 | -€4,667 | -34.3% |
| Stocks | 30/36 | €13,613 | €8,946 | -€4,667 | -34.3% |
| Amounts receivable within one year | 40/41 | €18,863 | €41,274 | +€22,411 | +119% |
| Trade receivables | 40 | €16,145 | €33,727 | +€17,582 | +109% |
| Other amounts receivable | 41 | €2,718 | €7,547 | +€4,829 | +178% |
| Cash at bank and in hand | 54/58 | €554 | €3,884 | +€3,330 | +601% |
| Deferred charges and accrued income | 490/1 | - | €2,372 | +€2,372 | |
| Total equity and liabilities | 10/49 | €54,739 | €198,778 | +€144,039 | +263% |
| Equity | 10/15 | €3,853 | €18,598 | +€14,745 | +383% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €500 | €500 | = | 0.0% |
| Distributable reserves | 133 | €500 | €500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,647 | €13,098 | +€14,745 | |
| Amounts payable | 17/49 | €50,886 | €180,180 | +€129,294 | +254% |
| Amounts payable after more than one year | 17 | - | €91,904 | +€91,904 | |
| Financial debts | 170/4 | - | €91,904 | +€91,904 | |
| Amounts payable within one year | 42/48 | €50,886 | €88,276 | +€37,390 | +73.5% |
| Current portion of amounts payable after more than one year | 42 | - | €13,388 | +€13,388 | |
| Trade debts | 44 | €2,176 | €30,929 | +€28,753 | +1,321% |
| Suppliers | 440/4 | €2,176 | €30,929 | +€28,753 | +1,321% |
| Taxes, remuneration and social security | 45 | €12,134 | €10,684 | -€1,450 | -11.9% |
| Taxes | 450/3 | €11,295 | €5,466 | -€5,829 | -51.6% |
| Remuneration and social security | 454/9 | €839 | €5,218 | +€4,379 | +522% |
| Other amounts payable | 47/48 | €36,576 | €33,275 | -€3,301 | -9.0% |
| Remuneration, social security and pensions | 62 | €53,246 | €69,601 | +€16,355 | +30.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,550 | €17,900 | +€5,350 | +42.6% |
| Other operating charges | 640/8 | €149 | €255 | +€106 | +71.1% |
| Non-recurring operating charges | 66A | €2,657 | €1,797 | -€860 | -32.4% |
| Gross operating margin | 9900 | €49,343 | €104,003 | +€54,660 | +111% |
| Operating profit (loss) | 9901 | -€19,259 | €14,450 | +€33,709 | |
| Financial income | 75/76B | €367 | €1,987 | +€1,620 | +441% |
| Recurring financial income | 75 | €367 | €1,987 | +€1,620 | +441% |
| Financial charges | 65/66B | €1,914 | €1,692 | -€222 | -11.6% |
| Recurring financial charges | 65 | €914 | €1,692 | +€778 | +85.1% |
| Non-recurring financial charges | 66B | €1,000 | - | -€1,000 | |
| Profit (loss) for the period before taxes | 9903 | -€20,806 | €14,745 | +€35,551 | |
| Profit (loss) for the period | 9904 | -€20,806 | €14,745 | +€35,551 | |
| Profit (loss) for the period to be appropriated | 9905 | -€20,806 | €14,745 | +€35,551 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.