IMMACA: 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.
IMMACA
Largest movements
- Receivables within one year -€167,664
down €167,664 (-85.8%), from €195,306 to €27,643
of which Other amounts receivable: -€135,164
- Cash -€63,062
down €63,062 (-74.4%), from €84,709 to €21,646
mainly Debts after one year (-€306,449) and Contributions, distributions and other (-€85,000)
- Debts after one year -€306,449
down €306,449 (-54.0%), from €567,892 to €261,443
- Short-term financial debts -€61,855
no longer reported in 2025 (was €61,855)
- Other debts +€47,232
up €47,232 (+766.4%), from €6,163 to €53,395
- Profit (loss) carried forward +€46,201
up €46,201 (+18.0%), from €257,093 to €303,295
- Tax, wage and social debts +€44,695
up €44,695 (+118.5%), from €37,711 to €82,407
of which Taxes: +€38,695
- Gross operating margin -€44,787
down €44,787 (-18.8%), from €237,618 to €192,831
- Taxes -€8,437
down €8,437 (-15.9%), from €52,914 to €44,476
- Financial income -€3,937
down €3,937 (-99.0%), from €3,975 to €39
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 | €1,034,043 | €810,534 | -€223,509 | -21.6% |
| Fixed assets | 21/28 | €753,452 | €760,669 | +€7,217 | +1.0% |
| Tangible fixed assets | 22/27 | €753,452 | €760,669 | +€7,217 | +1.0% |
| Land and buildings | 22 | €522,217 | €522,217 | = | 0.0% |
| Plant, machinery and equipment | 23 | €4,490 | €3,394 | -€1,097 | -24.4% |
| Furniture and vehicles | 24 | €12,159 | €9,243 | -€2,916 | -24.0% |
| Other tangible fixed assets | 26 | €214,586 | €225,816 | +€11,230 | +5.2% |
| Current assets | 29/58 | €280,591 | €49,865 | -€230,726 | -82.2% |
| Amounts receivable within one year | 40/41 | €195,306 | €27,643 | -€167,664 | -85.8% |
| Trade receivables | 40 | €32,500 | - | -€32,500 | |
| Other amounts receivable | 41 | €162,806 | €27,643 | -€135,164 | -83.0% |
| Cash at bank and in hand | 54/58 | €84,709 | €21,646 | -€63,062 | -74.4% |
| Deferred charges and accrued income | 490/1 | €576 | €576 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,034,043 | €810,534 | -€223,509 | -21.6% |
| Equity | 10/15 | €330,153 | €376,354 | +€46,201 | +14.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €54,509 | €54,509 | = | 0.0% |
| Distributable reserves | 133 | €54,509 | €54,509 | = | 0.0% |
| Profit (loss) carried forward | 14 | €257,093 | €303,295 | +€46,201 | +18.0% |
| Amounts payable | 17/49 | €703,890 | €434,180 | -€269,711 | -38.3% |
| Amounts payable after more than one year | 17 | €567,892 | €261,443 | -€306,449 | -54.0% |
| Financial debts | 170/4 | €567,892 | €261,443 | -€306,449 | -54.0% |
| Amounts payable within one year | 42/48 | €135,999 | €172,737 | +€36,738 | +27.0% |
| Current portion of amounts payable after more than one year | 42 | €24,810 | €25,364 | +€554 | +2.2% |
| Financial debts | 43 | €61,855 | - | -€61,855 | |
| Credit institutions | 430/8 | €61,855 | - | -€61,855 | |
| Trade debts | 44 | €5,460 | €11,572 | +€6,112 | +111.9% |
| Suppliers | 440/4 | €5,460 | €11,572 | +€6,112 | +111.9% |
| Taxes, remuneration and social security | 45 | €37,711 | €82,407 | +€44,695 | +118.5% |
| Taxes | 450/3 | €37,711 | €76,407 | +€38,695 | +102.6% |
| Remuneration and social security | 454/9 | - | €6,000 | +€6,000 | |
| Other amounts payable | 47/48 | €6,163 | €53,395 | +€47,232 | +766.4% |
| Non-recurring operating income | 76A | €19,679 | - | -€19,679 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,766 | €6,603 | +€837 | +14.5% |
| Other operating charges | 640/8 | €2,109 | €2,123 | +€14 | +0.6% |
| Gross operating margin | 9900 | €237,618 | €192,831 | -€44,787 | -18.8% |
| Operating profit (loss) | 9901 | €229,743 | €184,105 | -€45,638 | -19.9% |
| Financial income | 75/76B | €3,975 | €39 | -€3,937 | -99.0% |
| Recurring financial income | 75 | €3,975 | €39 | -€3,937 | -99.0% |
| Financial charges | 65/66B | €8,711 | €8,467 | -€245 | -2.8% |
| Recurring financial charges | 65 | €8,711 | €8,467 | -€245 | -2.8% |
| Profit (loss) for the period before taxes | 9903 | €225,007 | €175,678 | -€49,330 | -21.9% |
| Income taxes | 67/77 | €52,914 | €44,476 | -€8,437 | -15.9% |
| Profit (loss) for the period | 9904 | €172,093 | €131,201 | -€40,892 | -23.8% |
| Profit (loss) for the period to be appropriated | 9905 | €172,093 | €131,201 | -€40,892 | -23.8% |
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 8 October 2026 via checked.be.