IMGO: 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.
What changed
IMGO
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€29,195
2024 · €1.0m-€1.1m
Equity
€1.0m
2024 · €1.1m-€29,195
Cash
€150,639
2024 · €436,347-€285,708
Balance sheet total
€2.7m
2024 · €3.1m-€401,371
Largest movements
Assets
- Cash -€285,708
down €285,708 (-65.5%), from €436,347 to €150,639
mainly Other debts (-€295,251) and Debts after one year (-€51,714)
- Tangible fixed assets -€130,299
down €130,299 (-6.1%), from €2.1m to €2.0m
of which Land and buildings: -€123,658
Equity and liabilities
- Other debts -€295,251
down €295,251 (-21.2%), from €1.4m to €1.1m
- Debts after one year -€51,714
down €51,714 (-12.6%), from €411,898 to €360,184
Income statement
- Gross operating margin -€1.4m
down €1.4m (-92.1%), from €1.5m to €119,785
- Taxes -€266,333
down €266,333, from €255,000 to -€11,333
- Turnover +€84,030
up €84,030 (+55.7%), from €150,887 to €234,917
- Purchases and services -€64,813
down €64,813 (-35.4%), from €182,987 to €118,174
- Depreciation -€27,918
down €27,918 (-16.8%), from €166,323 to €138,405
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.
Result 2024
€1.0m
Gross operating margin
-€1.4m
Depreciation
+€27,918
Other operating charges
+€3,652
Other operating items
+€29,990
Financial income
+€2,427
Financial charges
+€1,982
Taxes
+€266,333
Result 2025
-€29,195
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.
From operations
-€226,317
Investment
-€8,106
Financing
-€51,285
Cash 2024
€436,347
From operations (derived)
-€226,317
Net result for the year
-€29,195
Depreciation
+€138,405
Receivables within one year
-€14,636
Provisions
-€3,978
Trade debts
-€26,648
Tax, wage and social debts
+€4,986
Other debts
-€295,251
Investment (derived)
-€8,106
Investment in fixed assets (net)
-€8,106
Financing
-€51,285
Debts after one year
-€51,714
Current portion of long-term debt
+€430
Contributions, distributions and other
-€0
Cash 2025
€150,639
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,145,815 | €2,744,444 | -€401,371 | -12.8% |
| Fixed assets | 21/28 | €2,664,672 | €2,534,373 | -€130,299 | -4.9% |
| Tangible fixed assets | 22/27 | €2,121,066 | €1,990,768 | -€130,299 | -6.1% |
| Land and buildings | 22 | €2,111,839 | €1,988,181 | -€123,658 | -5.9% |
| Plant, machinery and equipment | 23 | €9,227 | €2,586 | -€6,641 | -72.0% |
| Financial fixed assets | 28 | €543,606 | €543,606 | = | 0.0% |
| Current assets | 29/58 | €481,143 | €210,071 | -€271,072 | -56.3% |
| Amounts receivable within one year | 40/41 | €44,796 | €59,432 | +€14,636 | +32.7% |
| Trade receivables | 40 | €38,029 | €56,166 | +€18,136 | +47.7% |
| Other amounts receivable | 41 | €6,766 | €3,266 | -€3,500 | -51.7% |
| Cash at bank and in hand | 54/58 | €436,347 | €150,639 | -€285,708 | -65.5% |
| Total equity and liabilities | 10/49 | €3,145,815 | €2,744,444 | -€401,371 | -12.8% |
| Equity | 10/15 | €1,074,472 | €1,045,278 | -€29,195 | -2.7% |
| Contributions | 10/11 | €118,947 | €118,947 | -€0 | 0.0% |
| Capital | 10 | €118,947 | €118,947 | -€0 | 0.0% |
| Issued capital | 100 | €118,947 | €118,947 | -€0 | 0.0% |
| Revaluation surpluses | 12 | €700,170 | €700,170 | = | 0.0% |
| Reserves | 13 | €76,890 | €72,561 | -€4,329 | -5.6% |
| Non-distributable reserves | 130/1 | €4,338 | €9,296 | +€4,958 | +114.3% |
| Legal reserve | 130 | €4,338 | €9,296 | +€4,958 | +114.3% |
| Tax-exempt reserves | 132 | €72,552 | €63,265 | -€9,287 | -12.8% |
| Profit (loss) carried forward | 14 | €178,465 | €153,599 | -€24,866 | -13.9% |
| Provisions and deferred taxes | 16 | €189,577 | €185,599 | -€3,978 | -2.1% |
| Provisions for liabilities and charges | 160/5 | €158,472 | €158,472 | = | 0.0% |
| Major repairs and maintenance | 162 | €158,472 | €158,472 | = | 0.0% |
| Deferred taxes | 168 | €31,105 | €27,126 | -€3,978 | -12.8% |
| Amounts payable | 17/49 | €1,881,766 | €1,513,568 | -€368,198 | -19.6% |
| Amounts payable after more than one year | 17 | €411,898 | €360,184 | -€51,714 | -12.6% |
| Financial debts | 170/4 | €411,898 | €360,184 | -€51,714 | -12.6% |
| Amounts payable within one year | 42/48 | €1,469,869 | €1,153,385 | -€316,484 | -21.5% |
| Current portion of amounts payable after more than one year | 42 | €51,285 | €51,714 | +€430 | +0.8% |
| Trade debts | 44 | €26,648 | €0 | -€26,648 | -100.0% |
| Suppliers | 440/4 | €26,648 | €0 | -€26,648 | -100.0% |
| Advances received on contracts in progress | 46 | €555 | €555 | = | 0.0% |
| Taxes, remuneration and social security | 45 | - | €4,986 | +€4,986 | |
| Taxes | 450/3 | - | €4,986 | +€4,986 | |
| Other amounts payable | 47/48 | €1,391,381 | €1,096,130 | -€295,251 | -21.2% |
| Turnover | 70 | €150,887 | €234,917 | +€84,030 | +55.7% |
| Non-recurring operating income | 76A | €1,550,505 | €3,042 | -€1.5m | -99.8% |
| Goods, raw materials, services and sundry goods | 60/61 | €182,987 | €118,174 | -€64,813 | -35.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,323 | €138,405 | -€27,918 | -16.8% |
| Other operating charges | 640/8 | €22,414 | €18,762 | -€3,652 | -16.3% |
| Non-recurring operating charges | 66A | €29,990 | - | -€29,990 | |
| Gross operating margin | 9900 | €1,518,405 | €119,785 | -€1.4m | -92.1% |
| Operating profit (loss) | 9901 | €1,299,678 | -€37,383 | -€1.3m | |
| Financial income | 75/76B | €386 | €2,813 | +€2,427 | +629.6% |
| Recurring financial income | 75 | €386 | €2,813 | +€2,427 | +629.6% |
| Financial charges | 65/66B | €11,918 | €9,936 | -€1,982 | -16.6% |
| Recurring financial charges | 65 | €11,918 | €9,936 | -€1,982 | -16.6% |
| Profit (loss) for the period before taxes | 9903 | €1,288,145 | -€44,506 | -€1.3m | |
| Transfer from deferred taxes | 780 | €3,978 | €3,978 | = | 0.0% |
| Income taxes | 67/77 | €255,000 | -€11,333 | -€266,333 | |
| Profit (loss) for the period | 9904 | €1,037,123 | -€29,195 | -€1.1m | |
| Transfer from tax-exempt reserves | 789 | €9,287 | €9,287 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,046,410 | -€19,908 | -€1.1m |
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.