IMMAXE: 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.
IMMAXE
Largest movements
- Tangible fixed assets -€150,502
no longer reported in 2025 (was €150,502)
- Receivables within one year +€63,863
up €63,863 (+23.4%), from €272,639 to €336,502
- Short-term financial debts -€125,000
no longer reported in 2025 (was €125,000)
- Other debts +€56,622
up €56,622 (+216.0%), from €26,220 to €82,842
- Reserves -€44,514
down €44,514 (-32.8%), from €135,772 to €91,259
of which Tax-exempt reserves: -€91,501
- Provisions -€30,500
no longer reported in 2025 (was €30,500)
- Tax, wage and social debts +€27,257
up €27,257 (+479.3%), from €5,687 to €32,944
- Gross operating margin +€40,486
up €40,486, from -€36,193 to €4,293
- Taxes +€21,570
up €21,570 (+379.3%), from €5,687 to €27,257
- Financial charges +€5,081
up €5,081 (+540.6%), from €940 to €6,021
- Depreciation -€4,793
no longer reported in 2025 (was €4,793)
- Other operating charges -€1,723
down €1,723 (-87.4%), from €1,970 to €248
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 | €423,141 | €337,283 | -€85,858 | -20.3% |
| Fixed assets | 21/28 | €150,502 | - | -€150,502 | |
| Tangible fixed assets | 22/27 | €150,502 | - | -€150,502 | |
| Land and buildings | 22 | €150,502 | - | -€150,502 | |
| Current assets | 29/58 | €272,639 | €337,283 | +€64,643 | +23.7% |
| Amounts receivable within one year | 40/41 | €272,639 | €336,502 | +€63,863 | +23.4% |
| Other amounts receivable | 41 | €272,639 | €336,502 | +€63,863 | +23.4% |
| Cash at bank and in hand | 54/58 | €0 | €781 | +€781 | +190378.0% |
| Total equity and liabilities | 10/49 | €423,141 | €337,283 | -€85,858 | -20.3% |
| Equity | 10/15 | €231,458 | €212,727 | -€18,732 | -8.1% |
| Contributions | 10/11 | €121,468 | €121,468 | = | 0.0% |
| Capital | 10 | €121,468 | €121,468 | = | 0.0% |
| Issued capital | 100 | €121,468 | €121,468 | = | 0.0% |
| Reserves | 13 | €135,772 | €91,259 | -€44,514 | -32.8% |
| Non-distributable reserves | 130/1 | €359 | €359 | = | 0.0% |
| Reserves not available under the articles | 1311 | €359 | €359 | = | 0.0% |
| Tax-exempt reserves | 132 | €91,501 | - | -€91,501 | |
| Distributable reserves | 133 | €43,913 | €90,900 | +€46,988 | +107.0% |
| Profit (loss) carried forward | 14 | -€25,782 | - | +€25,782 | |
| Provisions and deferred taxes | 16 | €30,500 | - | -€30,500 | |
| Deferred taxes | 168 | €30,500 | - | -€30,500 | |
| Amounts payable | 17/49 | €161,182 | €124,556 | -€36,626 | -22.7% |
| Amounts payable within one year | 42/48 | €161,182 | €124,556 | -€36,626 | -22.7% |
| Financial debts | 43 | €125,000 | - | -€125,000 | |
| Credit institutions | 430/8 | €125,000 | - | -€125,000 | |
| Trade debts | 44 | €4,275 | €8,770 | +€4,494 | +105.1% |
| Suppliers | 440/4 | €4,275 | €8,770 | +€4,494 | +105.1% |
| Taxes, remuneration and social security | 45 | €5,687 | €32,944 | +€27,257 | +479.3% |
| Taxes | 450/3 | €5,687 | €32,944 | +€27,257 | +479.3% |
| Other amounts payable | 47/48 | €26,220 | €82,842 | +€56,622 | +216.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,793 | - | -€4,793 | |
| Other operating charges | 640/8 | €1,970 | €248 | -€1,723 | -87.4% |
| Gross operating margin | 9900 | -€36,193 | €4,293 | +€40,486 | |
| Operating profit (loss) | 9901 | -€42,957 | €4,046 | +€47,002 | |
| Financial charges | 65/66B | €940 | €6,021 | +€5,081 | +540.6% |
| Recurring financial charges | 65 | €940 | €6,021 | +€5,081 | +540.6% |
| Profit (loss) for the period before taxes | 9903 | -€43,897 | -€1,975 | +€41,922 | +95.5% |
| Transfer from deferred taxes | 780 | €51,398 | €30,500 | -€20,897 | -40.7% |
| Income taxes | 67/77 | €5,687 | €27,257 | +€21,570 | +379.3% |
| Profit (loss) for the period | 9904 | €1,815 | €1,268 | -€546 | -30.1% |
| Transfer from tax-exempt reserves | 789 | €154,194 | €91,501 | -€62,692 | -40.7% |
| Profit (loss) for the period to be appropriated | 9905 | €156,008 | €92,769 | -€63,239 | -40.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.