IMGOVAN: 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.
IMGOVAN
Largest movements
- Tangible fixed assets -€16,424
down €16,424 (-4.0%), from €410,022 to €393,598
of which Land and buildings: -€16,100
- Cash +€15,534
up €15,534 (+20.0%), from €77,506 to €93,040
mainly Depreciation (+€16,424) and Net result for the year (+€8,116)
No liability line moved by more than 1% of the balance sheet total.
- Taxes -€1,270
down €1,270 (-11.0%), from €11,567 to €10,297
- Other operating charges -€760
down €760 (-85.2%), from €893 to €132
- Gross operating margin +€431
up €431 (+1.2%), from €36,146 to €36,576
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 | €757,681 | €756,412 | -€1,269 | -0.2% |
| Fixed assets | 21/28 | €679,022 | €662,598 | -€16,424 | -2.4% |
| Tangible fixed assets | 22/27 | €410,022 | €393,598 | -€16,424 | -4.0% |
| Land and buildings | 22 | €409,375 | €393,275 | -€16,100 | -3.9% |
| Plant, machinery and equipment | 23 | €647 | €324 | -€324 | -50.0% |
| Financial fixed assets | 28 | €269,000 | €269,000 | = | 0.0% |
| Current assets | 29/58 | €78,659 | €93,814 | +€15,155 | +19.3% |
| Amounts receivable within one year | 40/41 | €1,153 | €774 | -€379 | -32.9% |
| Trade receivables | 40 | - | €387 | +€387 | |
| Other amounts receivable | 41 | €1,153 | €387 | -€766 | -66.5% |
| Cash at bank and in hand | 54/58 | €77,506 | €93,040 | +€15,534 | +20.0% |
| Total equity and liabilities | 10/49 | €757,681 | €756,412 | -€1,269 | -0.2% |
| Equity | 10/15 | €717,539 | €718,655 | +€1,116 | +0.2% |
| Contributions | 10/11 | €565,000 | €565,000 | = | 0.0% |
| Capital | 10 | €565,000 | €565,000 | = | 0.0% |
| Issued capital | 100 | €565,000 | €565,000 | = | 0.0% |
| Reserves | 13 | €56,500 | €56,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €56,500 | €56,500 | = | 0.0% |
| Legal reserve | 130 | €56,500 | €56,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €96,039 | €97,155 | +€1,116 | +1.2% |
| Amounts payable | 17/49 | €40,141 | €37,757 | -€2,384 | -5.9% |
| Amounts payable within one year | 42/48 | €40,141 | €37,757 | -€2,384 | -5.9% |
| Trade debts | 44 | €387 | €387 | = | 0.0% |
| Suppliers | 440/4 | €387 | €387 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,311 | €6,981 | +€2,669 | +61.9% |
| Taxes | 450/3 | €4,311 | €6,981 | +€2,669 | +61.9% |
| Other amounts payable | 47/48 | €35,443 | €30,389 | -€5,054 | -14.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,330 | €16,424 | +€93 | +0.6% |
| Other operating charges | 640/8 | €893 | €132 | -€760 | -85.2% |
| Gross operating margin | 9900 | €36,146 | €36,576 | +€431 | +1.2% |
| Operating profit (loss) | 9901 | €18,923 | €20,020 | +€1,098 | +5.8% |
| Financial income | 75/76B | €221 | €543 | +€322 | +145.6% |
| Recurring financial income | 75 | €221 | €543 | +€322 | +145.6% |
| Financial charges | 65/66B | €2,247 | €2,150 | -€97 | -4.3% |
| Recurring financial charges | 65 | €2,247 | €2,150 | -€97 | -4.3% |
| Profit (loss) for the period before taxes | 9903 | €16,897 | €18,413 | +€1,517 | +9.0% |
| Income taxes | 67/77 | €11,567 | €10,297 | -€1,270 | -11.0% |
| Profit (loss) for the period | 9904 | €5,329 | €8,116 | +€2,787 | +52.3% |
| Profit (loss) for the period to be appropriated | 9905 | €5,329 | €8,116 | +€2,787 | +52.3% |
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 6 October 2026 via checked.be.