IMMATH: 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.
IMMATH
Largest movements
- Current investments +€100,000
up €100,000 (+100.0%), from €100,000 to €200,000
- Tangible fixed assets -€42,300
down €42,300 (-3.5%), from €1.2m to €1.2m
- Reserves +€91,134
up €91,134 (+7.0%), from €1.3m to €1.4m
of which Distributable reserves: +€104,516
- Other debts -€25,040
down €25,040 (-17.0%), from €147,346 to €122,306
- Gross operating margin +€5,961
up €5,961 (+3.2%), from €186,475 to €192,436
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 | €1,732,325 | €1,781,550 | +€49,225 | +2.8% |
| Fixed assets | 21/28 | €1,196,111 | €1,153,811 | -€42,300 | -3.5% |
| Tangible fixed assets | 22/27 | €1,196,111 | €1,153,811 | -€42,300 | -3.5% |
| Land and buildings | 22 | €1,196,111 | €1,153,811 | -€42,300 | -3.5% |
| Current assets | 29/58 | €536,214 | €627,739 | +€91,525 | +17.1% |
| Amounts receivable within one year | 40/41 | €150,000 | €150,000 | = | 0.0% |
| Other amounts receivable | 41 | €150,000 | €150,000 | = | 0.0% |
| Current investments | 50/53 | €100,000 | €200,000 | +€100,000 | +100.0% |
| Cash at bank and in hand | 54/58 | €282,669 | €274,075 | -€8,594 | -3.0% |
| Deferred charges and accrued income | 490/1 | €3,545 | €3,664 | +€119 | +3.4% |
| Total equity and liabilities | 10/49 | €1,732,325 | €1,781,550 | +€49,225 | +2.8% |
| Equity | 10/15 | €1,515,584 | €1,606,718 | +€91,134 | +6.0% |
| Contributions | 10/11 | €220,000 | €220,000 | = | 0.0% |
| Reserves | 13 | €1,295,584 | €1,386,718 | +€91,134 | +7.0% |
| Tax-exempt reserves | 132 | €131,629 | €118,247 | -€13,382 | -10.2% |
| Distributable reserves | 133 | €1,163,956 | €1,268,471 | +€104,516 | +9.0% |
| Provisions and deferred taxes | 16 | €50,150 | €44,435 | -€5,715 | -11.4% |
| Deferred taxes | 168 | €50,150 | €44,435 | -€5,715 | -11.4% |
| Amounts payable | 17/49 | €166,591 | €130,397 | -€36,195 | -21.7% |
| Amounts payable within one year | 42/48 | €166,591 | €129,787 | -€36,805 | -22.1% |
| Trade debts | 44 | €12 | - | -€12 | |
| Suppliers | 440/4 | €12 | - | -€12 | |
| Taxes, remuneration and social security | 45 | €19,233 | €7,480 | -€11,753 | -61.1% |
| Taxes | 450/3 | €19,233 | €7,480 | -€11,753 | -61.1% |
| Other amounts payable | 47/48 | €147,346 | €122,306 | -€25,040 | -17.0% |
| Accrued charges and deferred income | 492/3 | - | €610 | +€610 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,300 | €42,300 | = | 0.0% |
| Other operating charges | 640/8 | €19,472 | €20,084 | +€612 | +3.1% |
| Gross operating margin | 9900 | €186,475 | €192,436 | +€5,961 | +3.2% |
| Operating profit (loss) | 9901 | €124,703 | €130,051 | +€5,348 | +4.3% |
| Financial income | 75/76B | €5,289 | €4,313 | -€976 | -18.5% |
| Recurring financial income | 75 | €5,289 | €4,313 | -€976 | -18.5% |
| Financial charges | 65/66B | €161 | €171 | +€10 | +6.1% |
| Recurring financial charges | 65 | €161 | €171 | +€10 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €129,831 | €134,193 | +€4,362 | +3.4% |
| Transfer from deferred taxes | 780 | €5,715 | €5,715 | = | 0.0% |
| Income taxes | 67/77 | €47,410 | €48,774 | +€1,364 | +2.9% |
| Profit (loss) for the period | 9904 | €88,136 | €91,134 | +€2,998 | +3.4% |
| Transfer from tax-exempt reserves | 789 | €13,382 | €13,382 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €101,517 | €104,516 | +€2,998 | +3.0% |
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 9 October 2026 via checked.be.