IMMETA: 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.
IMMETA
Largest movements
- Receivables within one year +€67,386
up €67,386 (+8.7%), from €770,327 to €837,713
of which Other amounts receivable: +€50,443
- Tangible fixed assets -€31,436
down €31,436 (-2.0%), from €1.6m to €1.6m
of which Land and buildings: -€30,767
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€54,339
up €54,339, from -€28,751 to €25,588
- Write-downs -€22,841
no longer reported in 2025 (was €22,841)
- Taxes +€8,041
up €8,041, from -€111 to €7,930
- Other operating charges -€1,078
down €1,078 (-11.1%), from €9,717 to €8,639
- Financial income +€949
up €949 (+4.0%), from €23,924 to €24,873
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 | €3,017,838 | €3,025,084 | +€7,246 | +0.2% |
| Fixed assets | 21/28 | €1,606,689 | €1,575,253 | -€31,436 | -2.0% |
| Tangible fixed assets | 22/27 | €1,606,689 | €1,575,253 | -€31,436 | -2.0% |
| Land and buildings | 22 | €1,604,469 | €1,573,701 | -€30,767 | -1.9% |
| Furniture and vehicles | 24 | €2,220 | €1,551 | -€669 | -30.1% |
| Current assets | 29/58 | €1,411,150 | €1,449,831 | +€38,682 | +2.7% |
| Amounts receivable within one year | 40/41 | €770,327 | €837,713 | +€67,386 | +8.7% |
| Trade receivables | 40 | €30,500 | €47,443 | +€16,943 | +55.6% |
| Other amounts receivable | 41 | €739,827 | €790,270 | +€50,443 | +6.8% |
| Cash at bank and in hand | 54/58 | €640,398 | €611,695 | -€28,703 | -4.5% |
| Deferred charges and accrued income | 490/1 | €424 | €423 | -€1 | -0.2% |
| Total equity and liabilities | 10/49 | €3,017,838 | €3,025,084 | +€7,246 | +0.2% |
| Equity | 10/15 | €2,824,778 | €2,830,053 | +€5,275 | +0.2% |
| Contributions | 10/11 | €2,259,000 | €2,259,000 | = | 0.0% |
| Capital | 10 | €2,259,000 | €2,259,000 | = | 0.0% |
| Issued capital | 100 | €2,259,000 | €2,259,000 | = | 0.0% |
| Reserves | 13 | €426,294 | €417,893 | -€8,401 | -2.0% |
| Non-distributable reserves | 130/1 | €21,841 | €29,902 | +€8,061 | +36.9% |
| Legal reserve | 130 | €21,841 | €29,902 | +€8,061 | +36.9% |
| Tax-exempt reserves | 132 | €362,174 | €345,712 | -€16,462 | -4.5% |
| Distributable reserves | 133 | €42,279 | €42,279 | = | 0.0% |
| Profit (loss) carried forward | 14 | €139,484 | €153,160 | +€13,676 | +9.8% |
| Provisions and deferred taxes | 16 | €186,491 | €178,015 | -€8,477 | -4.5% |
| Deferred taxes | 168 | €186,491 | €178,015 | -€8,477 | -4.5% |
| Amounts payable | 17/49 | €6,569 | €17,017 | +€10,448 | +159.0% |
| Amounts payable within one year | 42/48 | €6,569 | €14,157 | +€7,588 | +115.5% |
| Trade debts | 44 | €403 | €992 | +€590 | +146.5% |
| Suppliers | 440/4 | €403 | €992 | +€590 | +146.5% |
| Taxes, remuneration and social security | 45 | - | €6,998 | +€6,998 | |
| Taxes | 450/3 | - | €6,998 | +€6,998 | |
| Other amounts payable | 47/48 | €6,166 | €6,166 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €2,860 | +€2,860 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,229 | €35,831 | -€398 | -1.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €22,841 | - | -€22,841 | |
| Other operating charges | 640/8 | €9,717 | €8,639 | -€1,078 | -11.1% |
| Non-recurring operating charges | 66A | €19,000 | €1,109 | -€17,891 | -94.2% |
| Gross operating margin | 9900 | -€28,751 | €25,588 | +€54,339 | |
| Operating profit (loss) | 9901 | -€116,538 | -€19,992 | +€96,547 | +82.8% |
| Financial income | 75/76B | €23,924 | €24,873 | +€949 | +4.0% |
| Recurring financial income | 75 | €23,924 | €24,873 | +€949 | +4.0% |
| Financial charges | 65/66B | €266 | €153 | -€113 | -42.4% |
| Recurring financial charges | 65 | €151 | €153 | +€2 | +1.4% |
| Non-recurring financial charges | 66B | €115 | - | -€115 | |
| Profit (loss) for the period before taxes | 9903 | -€92,880 | €4,728 | +€97,608 | |
| Transfer from deferred taxes | 780 | €8,477 | €8,477 | = | 0.0% |
| Income taxes | 67/77 | -€111 | €7,930 | +€8,041 | |
| Profit (loss) for the period | 9904 | -€84,292 | €5,275 | +€89,567 | |
| Transfer from tax-exempt reserves | 789 | €16,462 | €16,462 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€67,830 | €21,737 | +€89,567 |
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 4 October 2026 via checked.be.