IMOBA: 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.
IMOBA
Largest movements
- Current investments -€1.5m
down €1.5m (-39.6%), from €3.7m to €2.3m
- Tangible fixed assets -€295,086
down €295,086 (-5.5%), from €5.3m to €5.0m
of which Land and buildings: -€295,086
- Cash +€218,712
up €218,712 (+152.2%), from €143,723 to €362,435
mainly Current investments (+€1.5m) and Depreciation (+€198,185)
- Other debts -€1.2m
down €1.2m (-83.8%), from €1.4m to €223,459
- Debts after one year -€291,053
down €291,053 (-23.0%), from €1.3m to €972,033
- Provisions -€142,933
down €142,933 (-14.2%), from €1.0m to €860,343
of which Provisions for liabilities and charges: -€115,000
- Reserves +€111,839
up €111,839 (+2.1%), from €5.2m to €5.3m
of which Tax-exempt reserves: +€111,839
- Provisions -€100,000
down €100,000 (-666.7%), from -€15,000 to -€115,000
- Taxes +€79,176
up €79,176 (+330.9%), from €23,924 to €103,100
- Gross operating margin +€68,854
up €68,854 (+18.5%), from €371,379 to €440,233
- Depreciation -€37,205
down €37,205 (-15.8%), from €235,391 to €198,185
- Financial charges -€33,808
down €33,808 (-41.7%), from €81,071 to €47,262
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 | €9,927,197 | €8,415,156 | -€1.5m | -15.2% |
| Fixed assets | 21/28 | €5,342,704 | €5,047,618 | -€295,086 | -5.5% |
| Tangible fixed assets | 22/27 | €5,342,492 | €5,047,406 | -€295,086 | -5.5% |
| Land and buildings | 22 | €5,342,492 | €5,047,406 | -€295,086 | -5.5% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €212 | €212 | = | 0.0% |
| Current assets | 29/58 | €4,584,493 | €3,367,537 | -€1.2m | -26.5% |
| Stocks and contracts in progress | 3 | €666,012 | €672,111 | +€6,099 | +0.9% |
| Stocks | 30/36 | €666,012 | €672,111 | +€6,099 | +0.9% |
| Amounts receivable within one year | 40/41 | €30,819 | €55,269 | +€24,450 | +79.3% |
| Trade receivables | 40 | €20,938 | €5,865 | -€15,073 | -72.0% |
| Other amounts receivable | 41 | €9,881 | €49,404 | +€39,523 | +400.0% |
| Current investments | 50/53 | €3,732,770 | €2,252,909 | -€1.5m | -39.6% |
| Cash at bank and in hand | 54/58 | €143,723 | €362,435 | +€218,712 | +152.2% |
| Deferred charges and accrued income | 490/1 | €11,169 | €24,814 | +€13,644 | +122.2% |
| Total equity and liabilities | 10/49 | €9,927,197 | €8,415,156 | -€1.5m | -15.2% |
| Equity | 10/15 | €5,860,864 | €5,968,087 | +€107,223 | +1.8% |
| Contributions | 10/11 | €500,000 | €500,000 | = | 0.0% |
| Reserves | 13 | €5,232,378 | €5,344,217 | +€111,839 | +2.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €2,232,378 | €2,344,217 | +€111,839 | +5.0% |
| Distributable reserves | 133 | €3,000,000 | €3,000,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €128,486 | €123,870 | -€4,616 | -3.6% |
| Provisions and deferred taxes | 16 | €1,003,276 | €860,343 | -€142,933 | -14.2% |
| Provisions for liabilities and charges | 160/5 | €115,000 | €0 | -€115,000 | -100.0% |
| Pensions and similar obligations | 160 | €0 | - | = | |
| Major repairs and maintenance | 162 | €115,000 | €0 | -€115,000 | -100.0% |
| Deferred taxes | 168 | €888,276 | €860,343 | -€27,933 | -3.1% |
| Amounts payable | 17/49 | €3,063,057 | €1,586,726 | -€1.5m | -48.2% |
| Amounts payable after more than one year | 17 | €1,263,086 | €972,033 | -€291,053 | -23.0% |
| Financial debts | 170/4 | €1,263,086 | €972,033 | -€291,053 | -23.0% |
| Amounts payable within one year | 42/48 | €1,784,530 | €614,693 | -€1.2m | -65.6% |
| Current portion of amounts payable after more than one year | 42 | €339,941 | €291,053 | -€48,888 | -14.4% |
| Trade debts | 44 | €45,276 | €61,734 | +€16,459 | +36.4% |
| Suppliers | 440/4 | €45,276 | €61,734 | +€16,459 | +36.4% |
| Taxes, remuneration and social security | 45 | €21,583 | €38,447 | +€16,863 | +78.1% |
| Taxes | 450/3 | €2,879 | €17,573 | +€14,694 | +510.4% |
| Remuneration and social security | 454/9 | €18,705 | €20,874 | +€2,169 | +11.6% |
| Other amounts payable | 47/48 | €1,377,730 | €223,459 | -€1.2m | -83.8% |
| Accrued charges and deferred income | 492/3 | €15,442 | €0 | -€15,442 | -100.0% |
| Non-recurring operating income | 76A | €0 | €93,099 | +€93,099 | |
| Remuneration, social security and pensions | 62 | €109,069 | €133,338 | +€24,270 | +22.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €235,391 | €198,185 | -€37,205 | -15.8% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€15,000 | -€115,000 | -€100,000 | -666.7% |
| Other operating charges | 640/8 | €63,586 | €68,144 | +€4,559 | +7.2% |
| Gross operating margin | 9900 | €371,379 | €440,233 | +€68,854 | +18.5% |
| Operating profit (loss) | 9901 | -€21,666 | €155,565 | +€177,231 | |
| Financial income | 75/76B | €104,396 | €74,088 | -€30,309 | -29.0% |
| Recurring financial income | 75 | €104,396 | €74,088 | -€30,309 | -29.0% |
| Financial charges | 65/66B | €81,071 | €47,262 | -€33,808 | -41.7% |
| Recurring financial charges | 65 | €81,071 | €47,262 | -€33,808 | -41.7% |
| Profit (loss) for the period before taxes | 9903 | €1,660 | €182,390 | +€180,731 | +10890.0% |
| Transfer from deferred taxes | 780 | €27,953 | €27,933 | -€20 | -0.1% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €23,924 | €103,100 | +€79,176 | +330.9% |
| Profit (loss) for the period | 9904 | €5,688 | €107,223 | +€101,535 | +1784.9% |
| Transfer from tax-exempt reserves | 789 | €56,609 | €56,561 | -€48 | -0.1% |
| Transfer to tax-exempt reserves | 689 | €0 | €168,400 | +€168,400 | |
| Profit (loss) for the period to be appropriated | 9905 | €62,298 | -€4,616 | -€66,914 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.