Imladris: 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.
Imladris
Largest movements
- Receivables after one year -€69,000
down €69,000 (-71.1%), from €97,000 to €28,000
of which Other amounts receivable: -€97,000
- Deferred charges and accrued income -€31,078
down €31,078 (-99.5%), from €31,230 to €152
- Receivables within one year -€24,476
down €24,476 (-49.4%), from €49,527 to €25,051
of which Trade receivables: -€13,667
- Debts after one year -€128,478
down €128,478 (-23.7%), from €542,644 to €414,165
- Other debts +€91,178
up €91,178 (+62.9%), from €145,039 to €236,217
- Trade debts -€73,733
down €73,733 (-97.0%), from €76,024 to €2,291
- Profit (loss) carried forward -€23,266
down €23,266 (-10.3%), from -€226,541 to -€249,807
- Financial charges +€20,800
up €20,800 (+85.0%), from €24,482 to €45,282
- Gross operating margin -€19,507
down €19,507 (-21.2%), from €92,074 to €72,566
- Other operating charges -€8,522
down €8,522 (-47.6%), from €17,892 to €9,370
- Financial income -€7,566
down €7,566 (-72.9%), from €10,378 to €2,813
- Depreciation -€3,429
down €3,429 (-7.2%), from €47,422 to €43,993
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.
Derived cash bridge
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 | €1,377,617 | €1,257,005 | -€120,613 | -8.8% |
| Fixed assets | 21/28 | €1,193,299 | €1,203,802 | +€10,503 | +0.9% |
| Tangible fixed assets | 22/27 | €1,193,299 | €1,203,802 | +€10,503 | +0.9% |
| Land and buildings | 22 | €1,193,299 | €1,203,802 | +€10,503 | +0.9% |
| Current assets | 29/58 | €184,318 | €53,203 | -€131,115 | -71.1% |
| Amounts receivable after more than one year | 29 | €97,000 | €28,000 | -€69,000 | -71.1% |
| Trade receivables | 290 | - | €28,000 | +€28,000 | |
| Other amounts receivable | 291 | €97,000 | - | -€97,000 | |
| Amounts receivable within one year | 40/41 | €49,527 | €25,051 | -€24,476 | -49.4% |
| Trade receivables | 40 | €32,581 | €18,914 | -€13,667 | -41.9% |
| Other amounts receivable | 41 | €16,946 | €6,137 | -€10,809 | -63.8% |
| Cash at bank and in hand | 54/58 | €6,561 | - | -€6,561 | |
| Deferred charges and accrued income | 490/1 | €31,230 | €152 | -€31,078 | -99.5% |
| Total equity and liabilities | 10/49 | €1,377,617 | €1,257,005 | -€120,613 | -8.8% |
| Equity | 10/15 | €561,555 | €538,289 | -€23,266 | -4.1% |
| Contributions | 10/11 | €74,368 | €74,368 | = | 0.0% |
| Capital | 10 | €74,368 | €74,368 | = | 0.0% |
| Issued capital | 100 | €74,368 | €74,368 | = | 0.0% |
| Revaluation surpluses | 12 | €650,000 | €650,000 | = | 0.0% |
| Reserves | 13 | €63,728 | €63,728 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,437 | €7,437 | = | 0.0% |
| Legal reserve | 130 | €7,437 | €7,437 | = | 0.0% |
| Distributable reserves | 133 | €56,291 | €56,291 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€226,541 | -€249,807 | -€23,266 | -10.3% |
| Amounts payable | 17/49 | €816,063 | €718,716 | -€97,347 | -11.9% |
| Amounts payable after more than one year | 17 | €542,644 | €414,165 | -€128,478 | -23.7% |
| Financial debts | 170/4 | €542,644 | €414,165 | -€128,478 | -23.7% |
| Amounts payable within one year | 42/48 | €269,809 | €299,897 | +€30,088 | +11.2% |
| Current portion of amounts payable after more than one year | 42 | €48,747 | €61,389 | +€12,643 | +25.9% |
| Trade debts | 44 | €76,024 | €2,291 | -€73,733 | -97.0% |
| Suppliers | 440/4 | €76,024 | €2,291 | -€73,733 | -97.0% |
| Other amounts payable | 47/48 | €145,039 | €236,217 | +€91,178 | +62.9% |
| Accrued charges and deferred income | 492/3 | €3,610 | €4,653 | +€1,043 | +28.9% |
| Non-recurring operating income | 76A | €14,115 | - | -€14,115 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,422 | €43,993 | -€3,429 | -7.2% |
| Other operating charges | 640/8 | €17,892 | €9,370 | -€8,522 | -47.6% |
| Non-recurring operating charges | 66A | €7,581 | - | -€7,581 | |
| Gross operating margin | 9900 | €92,074 | €72,566 | -€19,507 | -21.2% |
| Operating profit (loss) | 9901 | €19,179 | €19,204 | +€25 | +0.1% |
| Financial income | 75/76B | €10,378 | €2,813 | -€7,566 | -72.9% |
| Recurring financial income | 75 | €10,378 | €2,813 | -€7,566 | -72.9% |
| Financial charges | 65/66B | €24,482 | €45,282 | +€20,800 | +85.0% |
| Recurring financial charges | 65 | €24,482 | €45,282 | +€20,800 | +85.0% |
| Profit (loss) for the period before taxes | 9903 | €5,076 | -€23,266 | -€28,341 | |
| Income taxes | 67/77 | €933 | - | -€933 | |
| Profit (loss) for the period | 9904 | €4,143 | -€23,266 | -€27,408 | |
| Profit (loss) for the period to be appropriated | 9905 | €4,143 | -€23,266 | -€27,408 |
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 28 October 2026 via checked.be.