IMOFIN: 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.
IMOFIN
Largest movements
- Tangible fixed assets -€30,737
down €30,737 (-4.3%), from €717,813 to €687,076
of which Furniture and vehicles: -€18,400
- Cash +€15,104
up €15,104 (+55.0%), from €27,446 to €42,550
mainly Depreciation (+€52,284) and Net result for the year (+€18,226)
- Debts after one year -€31,500
down €31,500 (-14.3%), from €220,500 to €189,000
- Profit (loss) carried forward +€26,074
up €26,074, from -€13,092 to €12,982
- Reserves -€7,848
down €7,848 (-2.5%), from €314,086 to €306,239
of which Tax-exempt reserves: -€7,848
- Gross operating margin +€40,760
up €40,760 (+70.6%), from €57,704 to €98,463
- Taxes +€6,287
up €6,287 (+1812.4%), from €347 to €6,634
- Financial charges -€5,945
down €5,945 (-27.5%), from €21,615 to €15,670
- Depreciation +€2,146
up €2,146 (+4.3%), from €50,139 to €52,284
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 | €748,187 | €738,849 | -€9,338 | -1.2% |
| Fixed assets | 21/28 | €717,813 | €687,076 | -€30,737 | -4.3% |
| Tangible fixed assets | 22/27 | €717,813 | €687,076 | -€30,737 | -4.3% |
| Land and buildings | 22 | €618,286 | €610,723 | -€7,563 | -1.2% |
| Plant, machinery and equipment | 23 | €9,466 | €8,000 | -€1,466 | -15.5% |
| Furniture and vehicles | 24 | €47,064 | €28,664 | -€18,400 | -39.1% |
| Other tangible fixed assets | 26 | €42,998 | €39,690 | -€3,308 | -7.7% |
| Current assets | 29/58 | €30,374 | €51,772 | +€21,399 | +70.5% |
| Amounts receivable within one year | 40/41 | €146 | €5,959 | +€5,813 | +3990.0% |
| Trade receivables | 40 | €146 | €2,950 | +€2,804 | +1924.8% |
| Other amounts receivable | 41 | - | €3,009 | +€3,009 | |
| Cash at bank and in hand | 54/58 | €27,446 | €42,550 | +€15,104 | +55.0% |
| Deferred charges and accrued income | 490/1 | €2,782 | €3,263 | +€481 | +17.3% |
| Total equity and liabilities | 10/49 | €748,187 | €738,849 | -€9,338 | -1.2% |
| Equity | 10/15 | €320,995 | €339,221 | +€18,226 | +5.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €314,086 | €306,239 | -€7,848 | -2.5% |
| Tax-exempt reserves | 132 | €90,732 | €82,884 | -€7,848 | -8.6% |
| Distributable reserves | 133 | €223,355 | €223,355 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,092 | €12,982 | +€26,074 | |
| Provisions and deferred taxes | 16 | €29,028 | €26,412 | -€2,616 | -9.0% |
| Deferred taxes | 168 | €29,028 | €26,412 | -€2,616 | -9.0% |
| Amounts payable | 17/49 | €398,164 | €373,216 | -€24,948 | -6.3% |
| Amounts payable after more than one year | 17 | €220,500 | €189,000 | -€31,500 | -14.3% |
| Financial debts | 170/4 | €220,500 | €189,000 | -€31,500 | -14.3% |
| Amounts payable within one year | 42/48 | €177,583 | €183,311 | +€5,728 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €31,500 | €31,500 | = | 0.0% |
| Financial debts | 43 | €861 | €36 | -€825 | -95.8% |
| Credit institutions | 430/8 | €861 | €36 | -€825 | -95.8% |
| Trade debts | 44 | €6,216 | €11,165 | +€4,949 | +79.6% |
| Suppliers | 440/4 | €6,216 | €11,165 | +€4,949 | +79.6% |
| Taxes, remuneration and social security | 45 | €7,065 | €2,544 | -€4,521 | -64.0% |
| Taxes | 450/3 | €7,065 | €2,544 | -€4,521 | -64.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €131,941 | €138,065 | +€6,125 | +4.6% |
| Accrued charges and deferred income | 492/3 | €81 | €905 | +€824 | +1011.8% |
| Non-recurring operating income | 76A | €5,000 | €0 | -€5,000 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,139 | €52,284 | +€2,146 | +4.3% |
| Other operating charges | 640/8 | €9,323 | €8,492 | -€831 | -8.9% |
| Gross operating margin | 9900 | €57,704 | €98,463 | +€40,760 | +70.6% |
| Operating profit (loss) | 9901 | -€1,757 | €37,687 | +€39,445 | |
| Financial income | 75/76B | €164 | €226 | +€63 | +38.4% |
| Recurring financial income | 75 | €164 | €226 | +€63 | +38.4% |
| Financial charges | 65/66B | €21,615 | €15,670 | -€5,945 | -27.5% |
| Recurring financial charges | 65 | €21,615 | €15,670 | -€5,945 | -27.5% |
| Profit (loss) for the period before taxes | 9903 | -€23,208 | €22,244 | +€45,452 | |
| Transfer from deferred taxes | 780 | €2,616 | €2,616 | = | 0.0% |
| Income taxes | 67/77 | €347 | €6,634 | +€6,287 | +1812.4% |
| Profit (loss) for the period | 9904 | -€20,939 | €18,226 | +€39,165 | |
| Transfer from tax-exempt reserves | 789 | €7,848 | €7,848 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,092 | €26,074 | +€39,165 |
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 30 September 2026 via checked.be.