IMGAGE: 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.
IMGAGE
Largest movements
- Current investments +€800,000
new in 2025: €800,000
- Tangible fixed assets -€166,353
down €166,353 (-69.2%), from €240,239 to €73,886
of which Land and buildings: -€167,108
- Cash -€25,930
down €25,930 (-37.0%), from €70,050 to €44,120
mainly Current investments (-€800,000) and Deferred charges and accrued income (-€7,300)
- Reserves +€619,539
up €619,539 (+271.8%), from €227,956 to €847,495
of which Distributable reserves: +€619,539
- Gross operating margin +€876,059
up €876,059 (+2311.8%), from €37,895 to €913,954
- Taxes +€293,952
up €293,952 (+6750.9%), from €4,354 to €298,306
- Depreciation -€13,644
down €13,644 (-93.4%), from €14,611 to €967
- Financial income +€10,947
up €10,947 (+4769.0%), from €230 to €11,176
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 | €332,122 | €951,662 | +€619,539 | +186.5% |
| Fixed assets | 21/28 | €240,239 | €73,886 | -€166,353 | -69.2% |
| Tangible fixed assets | 22/27 | €240,239 | €73,886 | -€166,353 | -69.2% |
| Land and buildings | 22 | €240,070 | €72,962 | -€167,108 | -69.6% |
| Furniture and vehicles | 24 | €169 | €924 | +€755 | +446.8% |
| Current assets | 29/58 | €91,884 | €877,776 | +€785,892 | +855.3% |
| Amounts receivable within one year | 40/41 | €18,701 | €23,223 | +€4,522 | +24.2% |
| Trade receivables | 40 | €4,140 | €3,653 | -€487 | -11.8% |
| Other amounts receivable | 41 | €14,561 | €19,571 | +€5,009 | +34.4% |
| Current investments | 50/53 | - | €800,000 | +€800,000 | |
| Cash at bank and in hand | 54/58 | €70,050 | €44,120 | -€25,930 | -37.0% |
| Deferred charges and accrued income | 490/1 | €3,132 | €10,433 | +€7,300 | +233.1% |
| Total equity and liabilities | 10/49 | €332,122 | €951,662 | +€619,539 | +186.5% |
| Equity | 10/15 | €332,122 | €951,662 | +€619,539 | +186.5% |
| Contributions | 10/11 | €101,973 | €101,973 | = | 0.0% |
| Capital | 10 | €101,973 | €101,973 | = | 0.0% |
| Issued capital | 100 | €101,973 | €101,973 | = | 0.0% |
| Reserves | 13 | €227,956 | €847,495 | +€619,539 | +271.8% |
| Non-distributable reserves | 130/1 | €10,197 | €10,197 | = | 0.0% |
| Legal reserve | 130 | €10,197 | €10,197 | = | 0.0% |
| Distributable reserves | 133 | €217,758 | €837,297 | +€619,539 | +284.5% |
| Profit (loss) carried forward | 14 | €2,193 | €2,193 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,611 | €967 | -€13,644 | -93.4% |
| Other operating charges | 640/8 | €8,878 | €6,168 | -€2,710 | -30.5% |
| Gross operating margin | 9900 | €37,895 | €913,954 | +€876,059 | +2311.8% |
| Operating profit (loss) | 9901 | €14,406 | €906,818 | +€892,412 | +6194.6% |
| Financial income | 75/76B | €230 | €11,176 | +€10,947 | +4769.0% |
| Recurring financial income | 75 | €230 | €11,176 | +€10,947 | +4769.0% |
| Financial charges | 65/66B | €479 | €150 | -€329 | -68.7% |
| Recurring financial charges | 65 | €479 | €150 | -€329 | -68.7% |
| Profit (loss) for the period before taxes | 9903 | €14,157 | €917,845 | +€903,688 | +6383.5% |
| Income taxes | 67/77 | €4,354 | €298,306 | +€293,952 | +6750.9% |
| Profit (loss) for the period | 9904 | €9,802 | €619,539 | +€609,737 | +6220.3% |
| Profit (loss) for the period to be appropriated | 9905 | €9,802 | €619,539 | +€609,737 | +6220.3% |
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 12 October 2026 via checked.be.