IMGOR: 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.
IMGOR
Largest movements
- Receivables after one year +€930,000
new in 2025: €930,000
- Financial fixed assets -€345,000
down €345,000 (-5.7%), from €6.1m to €5.7m
- Receivables within one year +€201,225
up €201,225 (+223.8%), from €89,920 to €291,144
of which Other amounts receivable: +€155,928
- Reserves +€425,297
up €425,297 (+32.0%), from €1.3m to €1.8m
of which Distributable reserves: +€458,075
- Other debts +€291,825
up €291,825 (+12.3%), from €2.4m to €2.7m
- Gross operating margin -€636,059
down €636,059 (-79.0%), from €804,911 to €168,852
- Financial income +€57,913
up €57,913 (+12.6%), from €460,000 to €517,913
- Taxes +€46,244
up €46,244 (+14809.9%), from €312 to €46,556
- Other operating charges +€34,145
up €34,145 (+171.3%), from €19,927 to €54,073
- Financial charges +€25,373
up €25,373 (+35.3%), from €71,931 to €97,304
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 | €8,367,503 | €9,111,950 | +€744,447 | +8.9% |
| Fixed assets | 21/28 | €8,265,140 | €7,845,679 | -€419,461 | -5.1% |
| Tangible fixed assets | 22/27 | €2,175,090 | €2,100,629 | -€74,461 | -3.4% |
| Land and buildings | 22 | €2,169,656 | €2,096,554 | -€73,102 | -3.4% |
| Furniture and vehicles | 24 | €5,433 | €4,075 | -€1,358 | -25.0% |
| Financial fixed assets | 28 | €6,090,050 | €5,745,050 | -€345,000 | -5.7% |
| Current assets | 29/58 | €102,363 | €1,266,271 | +€1.2m | +1137.0% |
| Amounts receivable after more than one year | 29 | - | €930,000 | +€930,000 | |
| Other amounts receivable | 291 | - | €930,000 | +€930,000 | |
| Amounts receivable within one year | 40/41 | €89,920 | €291,144 | +€201,225 | +223.8% |
| Trade receivables | 40 | €55,772 | €101,068 | +€45,296 | +81.2% |
| Other amounts receivable | 41 | €34,148 | €190,076 | +€155,928 | +456.6% |
| Cash at bank and in hand | 54/58 | €11,989 | €21,320 | +€9,331 | +77.8% |
| Deferred charges and accrued income | 490/1 | €455 | €23,807 | +€23,352 | +5136.7% |
| Total equity and liabilities | 10/49 | €8,367,503 | €9,111,950 | +€744,447 | +8.9% |
| Equity | 10/15 | €4,823,917 | €5,249,214 | +€425,297 | +8.8% |
| Contributions | 10/11 | €458,603 | €458,603 | = | 0.0% |
| Capital | 10 | €458,603 | €458,603 | = | 0.0% |
| Issued capital | 100 | €458,603 | €458,603 | = | 0.0% |
| Reserves | 13 | €1,328,980 | €1,754,276 | +€425,297 | +32.0% |
| Non-distributable reserves | 130/1 | €45,860 | €45,860 | = | 0.0% |
| Legal reserve | 130 | €45,860 | €45,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €736,252 | €703,474 | -€32,778 | -4.5% |
| Distributable reserves | 133 | €546,867 | €1,004,942 | +€458,075 | +83.8% |
| Profit (loss) carried forward | 14 | €3,036,334 | €3,036,334 | = | 0.0% |
| Provisions and deferred taxes | 16 | €245,417 | €234,491 | -€10,926 | -4.5% |
| Deferred taxes | 168 | €245,417 | €234,491 | -€10,926 | -4.5% |
| Amounts payable | 17/49 | €3,298,168 | €3,628,244 | +€330,076 | +10.0% |
| Amounts payable within one year | 42/48 | €3,295,326 | €3,625,402 | +€330,076 | +10.0% |
| Current portion of amounts payable after more than one year | 42 | €920,833 | €835,833 | -€85,000 | -9.2% |
| Trade debts | 44 | €10,182 | €87,652 | +€77,470 | +760.9% |
| Suppliers | 440/4 | €10,182 | €87,652 | +€77,470 | +760.9% |
| Taxes, remuneration and social security | 45 | €966 | €46,747 | +€45,781 | +4739.2% |
| Taxes | 450/3 | €966 | €46,747 | +€45,781 | +4739.2% |
| Other amounts payable | 47/48 | €2,363,345 | €2,655,170 | +€291,825 | +12.3% |
| Accrued charges and deferred income | 492/3 | €2,842 | €2,842 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €73,882 | €74,461 | +€578 | +0.8% |
| Other operating charges | 640/8 | €19,927 | €54,073 | +€34,145 | +171.3% |
| Gross operating margin | 9900 | €804,911 | €168,852 | -€636,059 | -79.0% |
| Operating profit (loss) | 9901 | €711,101 | €40,319 | -€670,782 | -94.3% |
| Financial income | 75/76B | €460,000 | €517,913 | +€57,913 | +12.6% |
| Recurring financial income | 75 | €460,000 | €517,913 | +€57,913 | +12.6% |
| Financial charges | 65/66B | €71,931 | €97,304 | +€25,373 | +35.3% |
| Recurring financial charges | 65 | €71,931 | €97,304 | +€25,373 | +35.3% |
| Profit (loss) for the period before taxes | 9903 | €1,099,170 | €460,927 | -€638,243 | -58.1% |
| Transfer from deferred taxes | 780 | €10,822 | €10,926 | +€104 | +1.0% |
| Income taxes | 67/77 | €312 | €46,556 | +€46,244 | +14809.9% |
| Profit (loss) for the period | 9904 | €1,109,680 | €425,297 | -€684,383 | -61.7% |
| Transfer from tax-exempt reserves | 789 | €32,467 | €32,778 | +€311 | +1.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,142,147 | €458,075 | -€684,072 | -59.9% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.