IMOG: 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.
IMOG
Largest movements
- Cash -€118,968
down €118,968 (-52.4%), from €226,826 to €107,858
mainly Debts after one year (-€143,999) and Other debts (-€113,436)
- Tangible fixed assets -€107,657
down €107,657 (-3.2%), from €3.4m to €3.3m
of which Land and buildings: -€78,718
- Receivables within one year +€63,591
up €63,591 (+366%), from €17,373 to €80,964
of which Trade receivables: +€65,387
- Debts after one year -€143,999
down €143,999 (-13.6%), from €1.1m to €914,764
- Other debts -€113,436
down €113,436 (-8.4%), from €1.4m to €1.2m
- Reserves +€83,319
up €83,319 (+4.9%), from €1.7m to €1.8m
of which Distributable reserves: +€101,124
- Gross operating margin +€63,417
up €63,417 (+24.0%), from €264,654 to €328,071
- Taxes +€18,144
up €18,144 (+61.6%), from €29,465 to €47,609
- Other operating charges +€11,527
up €11,527 (+44.6%), from €25,816 to €37,343
- Depreciation -€7,359
down €7,359 (-4.3%), from €171,673 to €164,314
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,126,308 | €4,966,411 | -€159,898 | -3.1% |
| Fixed assets | 21/28 | €4,839,967 | €4,732,310 | -€107,657 | -2.2% |
| Tangible fixed assets | 22/27 | €3,389,967 | €3,282,310 | -€107,657 | -3.2% |
| Land and buildings | 22 | €2,152,604 | €2,073,886 | -€78,718 | -3.7% |
| Plant, machinery and equipment | 23 | €8,178 | €6,718 | -€1,460 | -17.9% |
| Furniture and vehicles | 24 | €4,157 | €4,523 | +€366 | +8.8% |
| Other tangible fixed assets | 26 | €1,225,028 | €1,197,183 | -€27,845 | -2.3% |
| Financial fixed assets | 28 | €1,450,000 | €1,450,000 | = | 0.0% |
| Current assets | 29/58 | €286,341 | €234,100 | -€52,241 | -18.2% |
| Stocks and contracts in progress | 3 | - | €3,115 | +€3,115 | |
| Stocks | 30/36 | - | €3,115 | +€3,115 | |
| Amounts receivable within one year | 40/41 | €17,373 | €80,964 | +€63,591 | +366% |
| Trade receivables | 40 | €6,448 | €71,835 | +€65,387 | +1,014% |
| Other amounts receivable | 41 | €10,925 | €9,129 | -€1,796 | -16.4% |
| Current investments | 50/53 | €41,710 | €41,710 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €226,826 | €107,858 | -€118,968 | -52.4% |
| Deferred charges and accrued income | 490/1 | €432 | €453 | +€21 | +4.9% |
| Total equity and liabilities | 10/49 | €5,126,308 | €4,966,411 | -€159,898 | -3.1% |
| Equity | 10/15 | €2,551,157 | €2,634,476 | +€83,319 | +3.3% |
| Contributions | 10/11 | €846,964 | €846,964 | = | 0.0% |
| Reserves | 13 | €1,704,193 | €1,787,512 | +€83,319 | +4.9% |
| Non-distributable reserves | 130/1 | €33,200 | €33,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €33,200 | €33,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €290,970 | €273,166 | -€17,805 | -6.1% |
| Distributable reserves | 133 | €1,380,023 | €1,481,146 | +€101,124 | +7.3% |
| Provisions and deferred taxes | 16 | €96,990 | €91,055 | -€5,935 | -6.1% |
| Deferred taxes | 168 | €96,990 | €91,055 | -€5,935 | -6.1% |
| Amounts payable | 17/49 | €2,478,161 | €2,240,880 | -€237,282 | -9.6% |
| Amounts payable after more than one year | 17 | €1,058,762 | €914,764 | -€143,999 | -13.6% |
| Financial debts | 170/4 | €1,058,762 | €914,764 | -€143,999 | -13.6% |
| Amounts payable within one year | 42/48 | €1,418,574 | €1,325,270 | -€93,304 | -6.6% |
| Current portion of amounts payable after more than one year | 42 | €43,564 | €43,999 | +€435 | +1.0% |
| Trade debts | 44 | €20 | €594 | +€574 | +2,810% |
| Suppliers | 440/4 | €20 | €594 | +€574 | +2,810% |
| Taxes, remuneration and social security | 45 | €19,262 | €38,386 | +€19,124 | +99.3% |
| Taxes | 450/3 | €19,262 | €38,386 | +€19,124 | +99.3% |
| Other amounts payable | 47/48 | €1,355,727 | €1,242,291 | -€113,436 | -8.4% |
| Accrued charges and deferred income | 492/3 | €825 | €846 | +€21 | +2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,673 | €164,314 | -€7,359 | -4.3% |
| Other operating charges | 640/8 | €25,816 | €37,343 | +€11,527 | +44.6% |
| Gross operating margin | 9900 | €264,654 | €328,071 | +€63,417 | +24.0% |
| Operating profit (loss) | 9901 | €67,165 | €126,414 | +€59,249 | +88.2% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €1,941 | €1,421 | -€521 | -26.8% |
| Recurring financial charges | 65 | €1,941 | €1,421 | -€521 | -26.8% |
| Profit (loss) for the period before taxes | 9903 | €65,223 | €124,993 | +€59,770 | +91.6% |
| Transfer from deferred taxes | 780 | €5,935 | €5,935 | = | 0.0% |
| Income taxes | 67/77 | €29,465 | €47,609 | +€18,144 | +61.6% |
| Profit (loss) for the period | 9904 | €41,693 | €83,319 | +€41,626 | +99.8% |
| Transfer from tax-exempt reserves | 789 | €17,805 | €17,805 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €59,498 | €101,124 | +€41,626 | +70.0% |
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 20 October 2026 via checked.be.