IMMAL: 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.
IMMAL
Largest movements
- Tangible fixed assets -€10,029
down €10,029 (-6.7%), from €149,246 to €139,216
- Cash +€9,392
up €9,392 (+182.8%), from €5,138 to €14,530
mainly Net result for the year (+€41,687) and Depreciation (+€10,029)
- Receivables within one year -€5,445
no longer reported in 2025 (was €5,445)
- Profit (loss) carried forward +€41,687
up €41,687 (+15.0%), from -€277,687 to -€236,000
- Debts after one year -€37,256
down €37,256 (-13.3%), from €279,479 to €242,223
- Current portion of long-term debt -€6,147
down €6,147 (-21.2%), from €28,936 to €22,790
- Other debts -€3,846
down €3,846 (-4.7%), from €82,054 to €78,208
- Gross operating margin +€15,770
up €15,770 (+25.6%), from €61,696 to €77,466
- Financial charges -€4,560
down €4,560 (-16.0%), from €28,537 to €23,976
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 | €159,829 | €153,746 | -€6,083 | -3.8% |
| Fixed assets | 21/28 | €149,246 | €139,216 | -€10,029 | -6.7% |
| Tangible fixed assets | 22/27 | €149,246 | €139,216 | -€10,029 | -6.7% |
| Land and buildings | 22 | €149,246 | €139,216 | -€10,029 | -6.7% |
| Current assets | 29/58 | €10,583 | €14,530 | +€3,947 | +37.3% |
| Amounts receivable within one year | 40/41 | €5,445 | - | -€5,445 | |
| Trade receivables | 40 | €5,445 | - | -€5,445 | |
| Cash at bank and in hand | 54/58 | €5,138 | €14,530 | +€9,392 | +182.8% |
| Total equity and liabilities | 10/49 | €159,829 | €153,746 | -€6,083 | -3.8% |
| Equity | 10/15 | -€240,922 | -€199,234 | +€41,687 | +17.3% |
| Contributions | 10/11 | €33,000 | €33,000 | = | 0.0% |
| Reserves | 13 | €3,766 | €3,766 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,300 | €3,300 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,300 | €3,300 | = | 0.0% |
| Distributable reserves | 133 | €466 | €466 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€277,687 | -€236,000 | +€41,687 | +15.0% |
| Amounts payable | 17/49 | €400,750 | €352,980 | -€47,770 | -11.9% |
| Amounts payable after more than one year | 17 | €279,479 | €242,223 | -€37,256 | -13.3% |
| Financial debts | 170/4 | €279,479 | €242,223 | -€37,256 | -13.3% |
| Amounts payable within one year | 42/48 | €121,271 | €110,757 | -€10,514 | -8.7% |
| Current portion of amounts payable after more than one year | 42 | €28,936 | €22,790 | -€6,147 | -21.2% |
| Trade debts | 44 | - | €400 | +€400 | |
| Suppliers | 440/4 | - | €400 | +€400 | |
| Taxes, remuneration and social security | 45 | €10,280 | €9,359 | -€921 | -9.0% |
| Taxes | 450/3 | €10,280 | €9,359 | -€921 | -9.0% |
| Other amounts payable | 47/48 | €82,054 | €78,208 | -€3,846 | -4.7% |
| Non-recurring operating income | 76A | €17 | €17 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,029 | €10,029 | = | 0.0% |
| Other operating charges | 640/8 | €1,719 | €1,773 | +€54 | +3.1% |
| Gross operating margin | 9900 | €61,696 | €77,466 | +€15,770 | +25.6% |
| Operating profit (loss) | 9901 | €49,947 | €65,664 | +€15,716 | +31.5% |
| Financial charges | 65/66B | €28,537 | €23,976 | -€4,560 | -16.0% |
| Recurring financial charges | 65 | €28,537 | €23,976 | -€4,560 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €21,411 | €41,687 | +€20,276 | +94.7% |
| Profit (loss) for the period | 9904 | €21,411 | €41,687 | +€20,276 | +94.7% |
| Profit (loss) for the period to be appropriated | 9905 | €21,411 | €41,687 | +€20,276 | +94.7% |
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 3 October 2026 via checked.be.