IMOFRA: 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.
IMOFRA
Largest movements
- Tangible fixed assets -€170,836
down €170,836 (-3.3%), from €5.2m to €5.0m
- Cash +€104,792
up €104,792 (+41.1%), from €255,210 to €360,002
mainly Depreciation (+€170,836) and Net result for the year (+€85,102)
- Current investments +€68,899
up €68,899 (+688.8%), from €10,003 to €78,902
- Profit (loss) carried forward +€85,102
up €85,102 (+16.5%), from €514,817 to €599,919
- Debts after one year -€74,274
down €74,274 (-5.3%), from €1.4m to €1.3m
- Other operating charges -€112,097
down €112,097 (-75.4%), from €148,691 to €36,594
- Gross operating margin +€74,484
up €74,484 (+28.6%), from €260,053 to €334,537
- Financial charges +€16,253
up €16,253 (+47.9%), from €33,960 to €50,213
- Depreciation +€14,769
up €14,769 (+9.5%), from €156,067 to €170,836
- Financial income -€5,589
down €5,589 (-40.5%), from €13,797 to €8,208
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 | €5,496,949 | €5,509,933 | +€12,984 | +0.2% |
| Fixed assets | 21/28 | €5,202,205 | €5,031,369 | -€170,836 | -3.3% |
| Tangible fixed assets | 22/27 | €5,202,205 | €5,031,369 | -€170,836 | -3.3% |
| Land and buildings | 22 | €5,202,205 | €5,031,369 | -€170,836 | -3.3% |
| Current assets | 29/58 | €294,744 | €478,564 | +€183,820 | +62.4% |
| Amounts receivable within one year | 40/41 | €27,257 | €39,660 | +€12,403 | +45.5% |
| Trade receivables | 40 | €20,063 | €33,183 | +€13,120 | +65.4% |
| Other amounts receivable | 41 | €7,194 | €6,477 | -€717 | -10.0% |
| Current investments | 50/53 | €10,003 | €78,902 | +€68,899 | +688.8% |
| Cash at bank and in hand | 54/58 | €255,210 | €360,002 | +€104,792 | +41.1% |
| Deferred charges and accrued income | 490/1 | €2,274 | - | -€2,274 | |
| Total equity and liabilities | 10/49 | €5,496,949 | €5,509,933 | +€12,984 | +0.2% |
| Equity | 10/15 | €3,751,885 | €3,836,987 | +€85,102 | +2.3% |
| Contributions | 10/11 | €3,187,613 | €3,187,613 | -€1 | 0.0% |
| Capital | 10 | €3,187,613 | €3,187,613 | -€1 | 0.0% |
| Issued capital | 100 | €3,187,613 | €3,187,613 | -€1 | 0.0% |
| Reserves | 13 | €49,455 | €49,455 | -€0 | 0.0% |
| Non-distributable reserves | 130/1 | €49,455 | €49,455 | -€0 | 0.0% |
| Legal reserve | 130 | €49,455 | €49,455 | -€0 | 0.0% |
| Profit (loss) carried forward | 14 | €514,817 | €599,919 | +€85,102 | +16.5% |
| Amounts payable | 17/49 | €1,745,064 | €1,672,947 | -€72,117 | -4.1% |
| Amounts payable after more than one year | 17 | €1,403,879 | €1,329,605 | -€74,274 | -5.3% |
| Financial debts | 170/4 | €1,403,879 | €1,329,605 | -€74,274 | -5.3% |
| Amounts payable within one year | 42/48 | €341,185 | €343,342 | +€2,157 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €71,718 | €74,275 | +€2,557 | +3.6% |
| Trade debts | 44 | €22,610 | €1,902 | -€20,708 | -91.6% |
| Suppliers | 440/4 | €22,610 | €1,902 | -€20,708 | -91.6% |
| Other amounts payable | 47/48 | €246,857 | €267,166 | +€20,309 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €156,067 | €170,836 | +€14,769 | +9.5% |
| Other operating charges | 640/8 | €148,691 | €36,594 | -€112,097 | -75.4% |
| Gross operating margin | 9900 | €260,053 | €334,537 | +€74,484 | +28.6% |
| Operating profit (loss) | 9901 | -€44,705 | €127,107 | +€171,812 | |
| Financial income | 75/76B | €13,797 | €8,208 | -€5,589 | -40.5% |
| Recurring financial income | 75 | €13,797 | €8,208 | -€5,589 | -40.5% |
| Financial charges | 65/66B | €33,960 | €50,213 | +€16,253 | +47.9% |
| Recurring financial charges | 65 | €33,960 | €50,213 | +€16,253 | +47.9% |
| Profit (loss) for the period before taxes | 9903 | -€64,868 | €85,102 | +€149,970 | |
| Income taxes | 67/77 | -€3,093 | - | +€3,093 | |
| Profit (loss) for the period | 9904 | -€61,775 | €85,102 | +€146,877 | |
| Profit (loss) for the period to be appropriated | 9905 | -€61,775 | €85,102 | +€146,877 |
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 29 September 2026 via checked.be.