IMGC: 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.
IMGC
Largest movements
- Current investments -€385,500
no longer reported in 2025 (was €385,500)
- Cash -€72,612
down €72,612 (-23.1%), from €313,769 to €241,157
mainly Contributions, distributions and other (-€915,687) and Investment in fixed assets (net) (-€16,783)
- Receivables within one year -€15,924
no longer reported in 2025 (was €15,924)
- Tangible fixed assets +€12,209
up €12,209 (+194.8%), from €6,268 to €18,477
- Profit (loss) carried forward -€447,326
down €447,326 (-94.7%), from €472,445 to €25,120
- Reserves -€164,389
no longer reported in 2025 (was €164,389)
- Tax, wage and social debts +€149,072
up €149,072 (+185.2%), from €80,471 to €229,543
- Gross operating margin +€68,958
up €68,958 (+20.2%), from €341,867 to €410,825
- Taxes +€25,692
up €25,692 (+31.9%), from €80,471 to €106,163
- Financial income +€11,437
up €11,437 (+2570.2%), from €445 to €11,882
- Other operating charges -€4,224
down €4,224 (-59.8%), from €7,068 to €2,844
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 | €723,961 | €262,134 | -€461,827 | -63.8% |
| Fixed assets | 21/28 | €8,768 | €20,977 | +€12,209 | +139.2% |
| Tangible fixed assets | 22/27 | €6,268 | €18,477 | +€12,209 | +194.8% |
| Furniture and vehicles | 24 | €6,268 | €18,477 | +€12,209 | +194.8% |
| Financial fixed assets | 28 | €2,500 | €2,500 | = | 0.0% |
| Current assets | 29/58 | €715,193 | €241,157 | -€474,036 | -66.3% |
| Amounts receivable within one year | 40/41 | €15,924 | - | -€15,924 | |
| Other amounts receivable | 41 | €15,924 | - | -€15,924 | |
| Current investments | 50/53 | €385,500 | - | -€385,500 | |
| Cash at bank and in hand | 54/58 | €313,769 | €241,157 | -€72,612 | -23.1% |
| Total equity and liabilities | 10/49 | €723,961 | €262,134 | -€461,827 | -63.8% |
| Equity | 10/15 | €641,834 | €30,120 | -€611,714 | -95.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €164,389 | - | -€164,389 | |
| Distributable reserves | 133 | €164,389 | - | -€164,389 | |
| Profit (loss) carried forward | 14 | €472,445 | €25,120 | -€447,326 | -94.7% |
| Amounts payable | 17/49 | €82,127 | €232,015 | +€149,888 | +182.5% |
| Amounts payable within one year | 42/48 | €82,127 | €232,015 | +€149,888 | +182.5% |
| Trade debts | 44 | €1,656 | €2,472 | +€816 | +49.3% |
| Suppliers | 440/4 | €1,656 | €2,472 | +€816 | +49.3% |
| Taxes, remuneration and social security | 45 | €80,471 | €229,543 | +€149,072 | +185.2% |
| Taxes | 450/3 | €80,471 | €229,543 | +€149,072 | +185.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,502 | €4,574 | +€1,072 | +30.6% |
| Other operating charges | 640/8 | €7,068 | €2,844 | -€4,224 | -59.8% |
| Non-recurring operating charges | 66A | - | €4,959 | +€4,959 | |
| Gross operating margin | 9900 | €341,867 | €410,825 | +€68,958 | +20.2% |
| Operating profit (loss) | 9901 | €331,298 | €398,449 | +€67,151 | +20.3% |
| Financial income | 75/76B | €445 | €11,882 | +€11,437 | +2570.2% |
| Recurring financial income | 75 | €445 | €11,882 | +€11,437 | +2570.2% |
| Financial charges | 65/66B | €142 | €196 | +€54 | +38.2% |
| Recurring financial charges | 65 | €142 | €196 | +€54 | +38.2% |
| Profit (loss) for the period before taxes | 9903 | €331,601 | €410,135 | +€78,534 | +23.7% |
| Income taxes | 67/77 | €80,471 | €106,163 | +€25,692 | +31.9% |
| Profit (loss) for the period | 9904 | €251,130 | €303,972 | +€52,842 | +21.0% |
| Profit (loss) for the period to be appropriated | 9905 | €251,130 | €303,972 | +€52,842 | +21.0% |
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 28 September 2026 via checked.be.