IMO: 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.
IMO
Largest movements
- Cash -€56,168
down €56,168 (-45.1%), from €124,579 to €68,411
mainly Contributions, distributions and other (-€142,857) and Short-term financial debts (-€17,500)
- Receivables within one year -€37,904
down €37,904 (-27.5%), from €137,646 to €99,742
of which Other amounts receivable: -€32,027
- Tangible fixed assets -€6,813
down €6,813 (-26.7%), from €25,536 to €18,723
of which Furniture and vehicles: -€6,167
- Deferred charges and accrued income +€6,721
up €6,721 (+102.0%), from €6,589 to €13,309
- Profit (loss) carried forward -€86,162
down €86,162 (-992.1%), from -€8,685 to -€94,846
- Current portion of long-term debt +€17,500
new in 2025: €17,500
- Short-term financial debts -€17,500
down €17,500 (-100.0%), from €17,500 to €0
- Tax, wage and social debts -€4,614
down €4,614 (-15.9%), from €29,086 to €24,472
of which Remuneration and social security: -€2,500
- Trade debts -€4,148
down €4,148 (-83.0%), from €4,999 to €851
- Gross operating margin -€91,669
down €91,669 (-52.0%), from €176,168 to €84,499
- Taxes -€17,038
down €17,038 (-43.3%), from €39,325 to €22,287
- Depreciation +€3,816
up €3,816 (+127.3%), from €2,997 to €6,813
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 | €354,349 | €260,185 | -€94,165 | -26.6% |
| Fixed assets | 21/28 | €25,536 | €18,723 | -€6,813 | -26.7% |
| Tangible fixed assets | 22/27 | €25,536 | €18,723 | -€6,813 | -26.7% |
| Land and buildings | 22 | €5,296 | €4,649 | -€647 | -12.2% |
| Furniture and vehicles | 24 | €16,040 | €9,873 | -€6,167 | -38.4% |
| Other tangible fixed assets | 26 | €4,200 | €4,200 | = | 0.0% |
| Current assets | 29/58 | €328,813 | €241,462 | -€87,351 | -26.6% |
| Amounts receivable after more than one year | 29 | €60,000 | €60,000 | = | 0.0% |
| Trade receivables | 290 | - | €0 | = | |
| Other amounts receivable | 291 | €60,000 | €60,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €137,646 | €99,742 | -€37,904 | -27.5% |
| Trade receivables | 40 | €30,189 | €24,312 | -€5,877 | -19.5% |
| Other amounts receivable | 41 | €107,457 | €75,430 | -€32,027 | -29.8% |
| Cash at bank and in hand | 54/58 | €124,579 | €68,411 | -€56,168 | -45.1% |
| Deferred charges and accrued income | 490/1 | €6,589 | €13,309 | +€6,721 | +102.0% |
| Total equity and liabilities | 10/49 | €354,349 | €260,185 | -€94,165 | -26.6% |
| Equity | 10/15 | €302,675 | €216,514 | -€86,162 | -28.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €305,160 | €305,160 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €303,300 | €303,300 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,685 | -€94,846 | -€86,162 | -992.1% |
| Amounts payable | 17/49 | €51,674 | €43,671 | -€8,003 | -15.5% |
| Amounts payable within one year | 42/48 | €51,585 | €42,899 | -€8,686 | -16.8% |
| Current portion of amounts payable after more than one year | 42 | - | €17,500 | +€17,500 | |
| Financial debts | 43 | €17,500 | €0 | -€17,500 | -100.0% |
| Credit institutions | 430/8 | €17,500 | €0 | -€17,500 | -100.0% |
| Trade debts | 44 | €4,999 | €851 | -€4,148 | -83.0% |
| Suppliers | 440/4 | €4,999 | €851 | -€4,148 | -83.0% |
| Taxes, remuneration and social security | 45 | €29,086 | €24,472 | -€4,614 | -15.9% |
| Taxes | 450/3 | €26,586 | €24,472 | -€2,114 | -8.0% |
| Remuneration and social security | 454/9 | €2,500 | €0 | -€2,500 | -100.0% |
| Other amounts payable | 47/48 | - | €76 | +€76 | |
| Accrued charges and deferred income | 492/3 | €89 | €773 | +€683 | +763.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,997 | €6,813 | +€3,816 | +127.3% |
| Other operating charges | 640/8 | €780 | €735 | -€45 | -5.8% |
| Gross operating margin | 9900 | €176,168 | €84,499 | -€91,669 | -52.0% |
| Operating profit (loss) | 9901 | €172,391 | €76,951 | -€95,440 | -55.4% |
| Financial income | 75/76B | €1,481 | €2,837 | +€1,357 | +91.6% |
| Recurring financial income | 75 | €1,481 | €2,837 | +€1,357 | +91.6% |
| Financial charges | 65/66B | €1,211 | €805 | -€407 | -33.6% |
| Recurring financial charges | 65 | €1,211 | €805 | -€407 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €172,660 | €78,983 | -€93,677 | -54.3% |
| Income taxes | 67/77 | €39,325 | €22,287 | -€17,038 | -43.3% |
| Profit (loss) for the period | 9904 | €133,334 | €56,696 | -€76,639 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €133,334 | €56,696 | -€76,639 | -57.5% |
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 8 October 2026 via checked.be.