IMMA: 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.
IMMA
Largest movements
- Receivables within one year -€35,424
down €35,424 (-95.8%), from €36,989 to €1,565
of which Trade receivables: -€35,707
- Cash -€12,746
down €12,746 (-18.4%), from €69,286 to €56,540
mainly Accrued charges and deferred income (-€41,300) and Net result for the year (-€10,565)
- Tangible fixed assets -€8,899
down €8,899 (-5.0%), from €179,660 to €170,761
of which Land and buildings: -€5,865
- Accrued charges and deferred income -€41,300
no longer reported in 2025 (was €41,300)
- Profit (loss) carried forward -€10,565
down €10,565 (-17.5%), from -€60,329 to -€70,894
- Trade debts -€3,012
down €3,012 (-72.1%), from €4,176 to €1,164
- Gross operating margin -€73,976
down €73,976 (-80.5%), from €91,849 to €17,874
- Depreciation +€1,101
up €1,101 (+12.4%), from €8,871 to €9,972
- Financial charges -€985
down €985 (-7.3%), from €13,535 to €12,550
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 | €285,960 | €228,891 | -€57,069 | -20.0% |
| Fixed assets | 21/28 | €179,685 | €170,786 | -€8,899 | -5.0% |
| Tangible fixed assets | 22/27 | €179,660 | €170,761 | -€8,899 | -5.0% |
| Land and buildings | 22 | €160,952 | €155,087 | -€5,865 | -3.6% |
| Plant, machinery and equipment | 23 | €8,286 | €7,702 | -€584 | -7.0% |
| Other tangible fixed assets | 26 | €10,423 | €7,973 | -€2,450 | -23.5% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €106,275 | €58,105 | -€48,170 | -45.3% |
| Amounts receivable within one year | 40/41 | €36,989 | €1,565 | -€35,424 | -95.8% |
| Trade receivables | 40 | €36,679 | €972 | -€35,707 | -97.3% |
| Other amounts receivable | 41 | €310 | €593 | +€283 | +91.3% |
| Cash at bank and in hand | 54/58 | €69,286 | €56,540 | -€12,746 | -18.4% |
| Total equity and liabilities | 10/49 | €285,960 | €228,891 | -€57,069 | -20.0% |
| Equity | 10/15 | €63,618 | €53,053 | -€10,565 | -16.6% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Capital | 10 | €123,947 | €123,947 | = | 0.0% |
| Issued capital | 100 | €123,947 | €123,947 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€60,329 | -€70,894 | -€10,565 | -17.5% |
| Amounts payable | 17/49 | €222,342 | €175,838 | -€46,504 | -20.9% |
| Amounts payable within one year | 42/48 | €181,042 | €175,838 | -€5,204 | -2.9% |
| Trade debts | 44 | €4,176 | €1,164 | -€3,012 | -72.1% |
| Suppliers | 440/4 | €4,176 | €1,164 | -€3,012 | -72.1% |
| Other amounts payable | 47/48 | €176,866 | €174,674 | -€2,192 | -1.2% |
| Accrued charges and deferred income | 492/3 | €41,300 | - | -€41,300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,871 | €9,972 | +€1,101 | +12.4% |
| Other operating charges | 640/8 | €6,464 | €6,340 | -€124 | -1.9% |
| Gross operating margin | 9900 | €91,849 | €17,874 | -€73,976 | -80.5% |
| Operating profit (loss) | 9901 | €76,514 | €1,562 | -€74,952 | -98.0% |
| Financial income | 75/76B | €0 | €423 | +€423 | +604642.9% |
| Recurring financial income | 75 | €0 | €423 | +€423 | +604642.9% |
| Financial charges | 65/66B | €13,535 | €12,550 | -€985 | -7.3% |
| Recurring financial charges | 65 | €13,535 | €12,550 | -€985 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | €62,979 | -€10,565 | -€73,544 | |
| Profit (loss) for the period | 9904 | €62,979 | -€10,565 | -€73,544 | |
| Profit (loss) for the period to be appropriated | 9905 | €62,979 | -€10,565 | -€73,544 |
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 10 October 2026 via checked.be.