IMO: 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.
IMO
Largest movements
- Tangible fixed assets -€5,431
down €5,431 (-22.5%), from €24,160 to €18,728
of which Plant, machinery and equipment: -€4,832
- Cash -€2,340
down €2,340 (-23.8%), from €9,842 to €7,502
mainly Current portion of long-term debt (-€6,293) and Net result for the year (-€2,374)
- Deferred charges and accrued income -€1,585
down €1,585 (-40.3%), from €3,932 to €2,346
- Current portion of long-term debt -€6,293
no longer reported in 2025 (was €6,293)
- Profit (loss) carried forward -€2,374
down €2,374 (-24.2%), from €9,796 to €7,423
- Trade debts -€1,591
down €1,591 (-34.8%), from €4,578 to €2,987
- Tax, wage and social debts +€888
up €888 (+548.2%), from €162 to €1,050
of which Remuneration and social security: +€626
- Gross operating margin -€6,670
down €6,670 (-23.1%), from €28,925 to €22,255
- Depreciation -€5,199
down €5,199 (-48.9%), from €10,630 to €5,431
- Staff costs +€4,489
up €4,489 (+38.0%), from €11,808 to €16,297
- Financial charges -€733
down €733 (-39.7%), from €1,845 to €1,112
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 | €40,528 | €31,155 | -€9,373 | -23.1% |
| Fixed assets | 21/28 | €25,720 | €20,288 | -€5,431 | -21.1% |
| Tangible fixed assets | 22/27 | €24,160 | €18,728 | -€5,431 | -22.5% |
| Plant, machinery and equipment | 23 | €23,560 | €18,728 | -€4,832 | -20.5% |
| Furniture and vehicles | 24 | €599 | - | -€599 | |
| Financial fixed assets | 28 | €1,560 | €1,560 | = | 0.0% |
| Current assets | 29/58 | €14,808 | €10,867 | -€3,941 | -26.6% |
| Amounts receivable within one year | 40/41 | €1,034 | €1,018 | -€16 | -1.5% |
| Other amounts receivable | 41 | €1,034 | €1,018 | -€16 | -1.5% |
| Cash at bank and in hand | 54/58 | €9,842 | €7,502 | -€2,340 | -23.8% |
| Deferred charges and accrued income | 490/1 | €3,932 | €2,346 | -€1,585 | -40.3% |
| Total equity and liabilities | 10/49 | €40,528 | €31,155 | -€9,373 | -23.1% |
| Equity | 10/15 | €28,396 | €26,023 | -€2,374 | -8.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €9,796 | €7,423 | -€2,374 | -24.2% |
| Amounts payable | 17/49 | €12,131 | €5,133 | -€6,999 | -57.7% |
| Amounts payable within one year | 42/48 | €12,131 | €5,133 | -€6,999 | -57.7% |
| Current portion of amounts payable after more than one year | 42 | €6,293 | - | -€6,293 | |
| Trade debts | 44 | €4,578 | €2,987 | -€1,591 | -34.8% |
| Suppliers | 440/4 | €4,578 | €2,987 | -€1,591 | -34.8% |
| Taxes, remuneration and social security | 45 | €162 | €1,050 | +€888 | +548.2% |
| Taxes | 450/3 | €14 | €275 | +€261 | +1895.9% |
| Remuneration and social security | 454/9 | €148 | €774 | +€626 | +422.8% |
| Other amounts payable | 47/48 | €1,098 | €1,096 | -€2 | -0.2% |
| Remuneration, social security and pensions | 62 | €11,808 | €16,297 | +€4,489 | +38.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,630 | €5,431 | -€5,199 | -48.9% |
| Other operating charges | 640/8 | €1,550 | €1,590 | +€40 | +2.6% |
| Gross operating margin | 9900 | €28,925 | €22,255 | -€6,670 | -23.1% |
| Operating profit (loss) | 9901 | €4,937 | -€1,063 | -€6,001 | |
| Financial income | 75/76B | €10 | €0 | -€10 | -99.0% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -99.0% |
| Financial charges | 65/66B | €1,845 | €1,112 | -€733 | -39.7% |
| Recurring financial charges | 65 | €1,845 | €1,112 | -€733 | -39.7% |
| Profit (loss) for the period before taxes | 9903 | €3,102 | -€2,176 | -€5,277 | |
| Income taxes | 67/77 | €177 | €198 | +€21 | +12.0% |
| Profit (loss) for the period | 9904 | €2,925 | -€2,374 | -€5,298 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,925 | -€2,374 | -€5,298 |
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 10 October 2026 via checked.be.