IMGA: 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.
IMGA
Largest movements
- Receivables within one year +€4,949
up €4,949 (+2.9%), from €171,701 to €176,650
- Profit (loss) carried forward +€2,546
up €2,546 (+7.1%), from -€36,087 to -€33,541
- Depreciation -€1,743
down €1,743 (-54.7%), from €3,189 to €1,446
- Other operating charges -€1,151
down €1,151 (-40.0%), from €2,877 to €1,726
- Financial income -€836
down €836 (-8.1%), from €10,275 to €9,439
- Gross operating margin +€119
up €119 (+3.1%), from -€3,811 to -€3,692
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 | €216,758 | €219,580 | +€2,822 | +1.3% |
| Fixed assets | 21/28 | €44,362 | €42,917 | -€1,446 | -3.3% |
| Tangible fixed assets | 22/27 | €43,588 | €42,142 | -€1,446 | -3.3% |
| Land and buildings | 22 | €43,588 | €42,142 | -€1,446 | -3.3% |
| Financial fixed assets | 28 | €775 | €775 | = | 0.0% |
| Current assets | 29/58 | €172,396 | €176,664 | +€4,267 | +2.5% |
| Amounts receivable within one year | 40/41 | €171,701 | €176,650 | +€4,949 | +2.9% |
| Other amounts receivable | 41 | €171,701 | €176,650 | +€4,949 | +2.9% |
| Cash at bank and in hand | 54/58 | €695 | €13 | -€681 | -98.1% |
| Total equity and liabilities | 10/49 | €216,758 | €219,580 | +€2,822 | +1.3% |
| Equity | 10/15 | €216,758 | €219,304 | +€2,546 | +1.2% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Reserves | 13 | €178,477 | €178,477 | = | 0.0% |
| Non-distributable reserves | 130/1 | €29,747 | €29,747 | = | 0.0% |
| Legal reserve | 130 | €29,747 | €29,747 | = | 0.0% |
| Distributable reserves | 133 | €148,730 | €148,730 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€36,087 | -€33,541 | +€2,546 | +7.1% |
| Amounts payable | 17/49 | €0 | €276 | +€276 | |
| Amounts payable within one year | 42/48 | €0 | €276 | +€276 | |
| Trade debts | 44 | €0 | €276 | +€276 | |
| Suppliers | 440/4 | €0 | €276 | +€276 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,189 | €1,446 | -€1,743 | -54.7% |
| Other operating charges | 640/8 | €2,877 | €1,726 | -€1,151 | -40.0% |
| Gross operating margin | 9900 | -€3,811 | -€3,692 | +€119 | +3.1% |
| Operating profit (loss) | 9901 | -€9,876 | -€6,863 | +€3,013 | +30.5% |
| Financial income | 75/76B | €10,275 | €9,439 | -€836 | -8.1% |
| Recurring financial income | 75 | €10,275 | €9,439 | -€836 | -8.1% |
| Financial charges | 65/66B | €29 | €30 | +€2 | +5.3% |
| Recurring financial charges | 65 | €29 | €30 | +€2 | +5.3% |
| Profit (loss) for the period before taxes | 9903 | €371 | €2,546 | +€2,175 | +587.0% |
| Profit (loss) for the period | 9904 | €371 | €2,546 | +€2,175 | +587.0% |
| Profit (loss) for the period to be appropriated | 9905 | €371 | €2,546 | +€2,175 | +587.0% |
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 4 October 2026 via checked.be.