IMOFRA: 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.
What changed
IMOFRA
NACE 70.200, Business and other management consultancy
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€500,170
2024 · €491,938+€8,231
Equity
€7.6m
2024 · €7.1m+€500,170
Cash
€889,548
2024 · €855,138+€34,410
Balance sheet total
€9.3m
2024 · €8.6m+€697,876
Largest movements
Assets
- Tangible fixed assets +€320,904
up €320,904 (+5.0%), from €6.5m to €6.8m
of which Land and buildings: +€343,882
- Current investments +€300,000
up €300,000 (+42.9%), from €700,000 to €1.0m
Equity and liabilities
- Reserves +€500,170
up €500,170 (+7.1%), from €7.0m to €7.5m
of which Distributable reserves: +€518,968
- Debts after one year +€195,746
up €195,746 (+23.7%), from €825,562 to €1.0m
Income statement
- Staff costs +€52,783
up €52,783 (+36.3%), from €145,603 to €198,386
- Gross operating margin +€33,786
up €33,786 (+2.8%), from €1.2m to €1.2m
- Depreciation -€16,714
down €16,714 (-6.7%), from €251,273 to €234,559
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.
Result 2024
€491,938
Gross operating margin
+€33,786
Staff costs
-€52,783
Depreciation
+€16,714
Other operating charges
+€7,572
Financial income
+€4,920
Financial charges
+€1,193
Taxes
-€3,170
Result 2025
€500,170
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€693,933
Investment
-€855,462
Financing
+€195,940
Cash 2024
€855,138
From operations (derived)
+€693,933
Net result for the year
+€500,170
Depreciation
+€234,559
Receivables within one year
-€65,678
Deferred charges and accrued income
+€23,116
Provisions
-€6,266
Trade debts
+€12,722
Tax, wage and social debts
-€1,412
Other debts
-€1,532
Accrued charges and deferred income
-€1,745
Investment (derived)
-€855,462
Investment in fixed assets (net)
-€555,462
Current investments
-€300,000
Financing
+€195,940
Debts after one year
+€195,746
Current portion of long-term debt
+€194
Cash 2025
€889,548
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,643,593 | €9,341,469 | +€697,876 | +8.1% |
| Fixed assets | 21/28 | €6,983,780 | €7,304,684 | +€320,904 | +4.6% |
| Tangible fixed assets | 22/27 | €6,464,839 | €6,785,742 | +€320,904 | +5.0% |
| Land and buildings | 22 | €6,430,949 | €6,774,831 | +€343,882 | +5.3% |
| Plant, machinery and equipment | 23 | €3,815 | €2,437 | -€1,378 | -36.1% |
| Furniture and vehicles | 24 | €30,075 | €8,474 | -€21,600 | -71.8% |
| Financial fixed assets | 28 | €518,941 | €518,941 | = | 0.0% |
| Current assets | 29/58 | €1,659,813 | €2,036,785 | +€376,972 | +22.7% |
| Amounts receivable within one year | 40/41 | €79,312 | €144,990 | +€65,678 | +82.8% |
| Trade receivables | 40 | €79,312 | €86,354 | +€7,042 | +8.9% |
| Other amounts receivable | 41 | - | €58,636 | +€58,636 | |
| Current investments | 50/53 | €700,000 | €1,000,000 | +€300,000 | +42.9% |
| Cash at bank and in hand | 54/58 | €855,138 | €889,548 | +€34,410 | +4.0% |
| Deferred charges and accrued income | 490/1 | €25,364 | €2,248 | -€23,116 | -91.1% |
| Total equity and liabilities | 10/49 | €8,643,593 | €9,341,469 | +€697,876 | +8.1% |
| Equity | 10/15 | €7,114,742 | €7,614,912 | +€500,170 | +7.0% |
| Contributions | 10/11 | €104,213 | €104,213 | = | 0.0% |
| Capital | 10 | €104,213 | €104,213 | = | 0.0% |
| Issued capital | 100 | €104,213 | €104,213 | = | 0.0% |
| Reserves | 13 | €7,010,529 | €7,510,699 | +€500,170 | +7.1% |
| Non-distributable reserves | 130/1 | €10,421 | €10,421 | = | 0.0% |
| Legal reserve | 130 | €10,421 | €10,421 | = | 0.0% |
| Tax-exempt reserves | 132 | €274,558 | €255,759 | -€18,799 | -6.8% |
| Distributable reserves | 133 | €6,725,550 | €7,244,518 | +€518,968 | +7.7% |
| Provisions and deferred taxes | 16 | €91,519 | €85,253 | -€6,266 | -6.8% |
| Deferred taxes | 168 | €91,519 | €85,253 | -€6,266 | -6.8% |
| Amounts payable | 17/49 | €1,437,332 | €1,641,305 | +€203,972 | +14.2% |
| Amounts payable after more than one year | 17 | €825,562 | €1,021,308 | +€195,746 | +23.7% |
| Financial debts | 170/4 | €825,562 | €1,021,308 | +€195,746 | +23.7% |
| Amounts payable within one year | 42/48 | €610,026 | €619,997 | +€9,971 | +1.6% |
| Current portion of amounts payable after more than one year | 42 | €282,998 | €283,192 | +€194 | +0.1% |
| Trade debts | 44 | €28,041 | €40,762 | +€12,722 | +45.4% |
| Suppliers | 440/4 | €28,041 | €40,762 | +€12,722 | +45.4% |
| Taxes, remuneration and social security | 45 | €97,455 | €96,043 | -€1,412 | -1.4% |
| Taxes | 450/3 | €74,492 | €68,661 | -€5,831 | -7.8% |
| Remuneration and social security | 454/9 | €22,963 | €27,381 | +€4,419 | +19.2% |
| Other amounts payable | 47/48 | €201,532 | €200,000 | -€1,532 | -0.8% |
| Accrued charges and deferred income | 492/3 | €1,745 | €0 | -€1,745 | -100% |
| Non-recurring operating income | 76A | €4,448 | €0 | -€4,448 | -100% |
| Remuneration, social security and pensions | 62 | €145,603 | €198,386 | +€52,783 | +36.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €251,273 | €234,559 | -€16,714 | -6.7% |
| Other operating charges | 640/8 | €88,843 | €81,271 | -€7,572 | -8.5% |
| Gross operating margin | 9900 | €1,188,018 | €1,221,804 | +€33,786 | +2.8% |
| Operating profit (loss) | 9901 | €702,300 | €707,589 | +€5,289 | +0.8% |
| Financial income | 75/76B | €12,359 | €17,279 | +€4,920 | +39.8% |
| Recurring financial income | 75 | €12,359 | €17,279 | +€4,920 | +39.8% |
| Financial charges | 65/66B | €51,572 | €50,378 | -€1,193 | -2.3% |
| Recurring financial charges | 65 | €51,572 | €50,378 | -€1,193 | -2.3% |
| Profit (loss) for the period before taxes | 9903 | €663,088 | €674,490 | +€11,402 | +1.7% |
| Transfer from deferred taxes | 780 | €6,266 | €6,266 | +€0 | 0.0% |
| Income taxes | 67/77 | €177,416 | €180,586 | +€3,170 | +1.8% |
| Profit (loss) for the period | 9904 | €491,938 | €500,170 | +€8,231 | +1.7% |
| Transfer from tax-exempt reserves | 789 | €18,799 | €18,799 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €510,737 | €518,968 | +€8,231 | +1.6% |
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 14 October 2026 via checked.be.