IMMAPE: 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.
IMMAPE
Largest movements
- Receivables within one year +€250,367
up €250,367 (+104.2%), from €240,359 to €490,726
- Cash -€78,841
down €78,841 (-41.7%), from €189,127 to €110,286
mainly Receivables within one year (-€250,367) and Tax, wage and social debts (-€5,104)
- Tangible fixed assets -€17,533
down €17,533 (-4.6%), from €382,766 to €365,233
- Reserves +€146,793
up €146,793 (+17.0%), from €865,176 to €1.0m
of which Distributable reserves: +€146,793
No income-statement line moved by more than 1% of the activity.
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 | €1,239,546 | €1,384,637 | +€145,091 | +11.7% |
| Fixed assets | 21/28 | €382,766 | €365,233 | -€17,533 | -4.6% |
| Tangible fixed assets | 22/27 | €382,766 | €365,233 | -€17,533 | -4.6% |
| Land and buildings | 22 | €382,766 | €365,233 | -€17,533 | -4.6% |
| Current assets | 29/58 | €856,780 | €1,019,403 | +€162,623 | +19.0% |
| Amounts receivable within one year | 40/41 | €240,359 | €490,726 | +€250,367 | +104.2% |
| Other amounts receivable | 41 | €240,359 | €490,726 | +€250,367 | +104.2% |
| Current investments | 50/53 | €400,000 | €399,714 | -€286 | -0.1% |
| Cash at bank and in hand | 54/58 | €189,127 | €110,286 | -€78,841 | -41.7% |
| Deferred charges and accrued income | 490/1 | €27,294 | €18,677 | -€8,618 | -31.6% |
| Total equity and liabilities | 10/49 | €1,239,546 | €1,384,637 | +€145,091 | +11.7% |
| Equity | 10/15 | €1,206,076 | €1,352,869 | +€146,793 | +12.2% |
| Contributions | 10/11 | €340,900 | €340,900 | = | 0.0% |
| Capital | 10 | €340,900 | €340,900 | = | 0.0% |
| Issued capital | 100 | €340,900 | €340,900 | = | 0.0% |
| Reserves | 13 | €865,176 | €1,011,969 | +€146,793 | +17.0% |
| Non-distributable reserves | 130/1 | €34,090 | €34,090 | = | 0.0% |
| Legal reserve | 130 | €34,090 | €34,090 | = | 0.0% |
| Distributable reserves | 133 | €831,086 | €977,879 | +€146,793 | +17.7% |
| Amounts payable | 17/49 | €33,470 | €31,768 | -€1,702 | -5.1% |
| Amounts payable after more than one year | 17 | €22,310 | €22,310 | = | 0.0% |
| Other amounts payable | 178/9 | €22,310 | €22,310 | = | 0.0% |
| Amounts payable within one year | 42/48 | €6,848 | €5,087 | -€1,761 | -25.7% |
| Trade debts | 44 | €1,744 | €5,087 | +€3,343 | +191.7% |
| Suppliers | 440/4 | €1,744 | €5,087 | +€3,343 | +191.7% |
| Taxes, remuneration and social security | 45 | €5,104 | €0 | -€5,104 | -100.0% |
| Taxes | 450/3 | €5,104 | €0 | -€5,104 | -100.0% |
| Accrued charges and deferred income | 492/3 | €4,311 | €4,370 | +€59 | +1.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,533 | €17,533 | = | 0.0% |
| Other operating charges | 640/8 | €28,869 | €29,915 | +€1,046 | +3.6% |
| Gross operating margin | 9900 | €219,519 | €218,266 | -€1,253 | -0.6% |
| Operating profit (loss) | 9901 | €173,118 | €170,819 | -€2,299 | -1.3% |
| Financial income | 75/76B | €27,299 | €26,951 | -€348 | -1.3% |
| Recurring financial income | 75 | €27,299 | €26,951 | -€348 | -1.3% |
| Financial charges | 65/66B | €29 | €2,070 | +€2,041 | +7162.9% |
| Recurring financial charges | 65 | €29 | €2,070 | +€2,041 | +7162.9% |
| Profit (loss) for the period before taxes | 9903 | €200,388 | €195,700 | -€4,689 | -2.3% |
| Income taxes | 67/77 | €50,106 | €48,906 | -€1,199 | -2.4% |
| Profit (loss) for the period | 9904 | €150,283 | €146,793 | -€3,489 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €150,283 | €146,793 | -€3,489 | -2.3% |
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 11 October 2026 via checked.be.