IMOTOP: 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.
IMOTOP
Largest movements
- Tangible fixed assets +€2.1m
up €2.1m (+53.6%), from €3.9m to €6.0m
of which Land and buildings: +€2.1m
- Revaluation surpluses +€2.2m
new in 2025: €2.2m
- Debts after one year -€2.0m
down €2.0m (-99.9%), from €2.0m to €1,800
of which Financial debts: -€2.0m
- Current portion of long-term debt +€2.0m
new in 2025: €2.0m
- Other debts +€359,830
up €359,830 (+25.6%), from €1.4m to €1.8m
- Profit (loss) carried forward -€267,264
down €267,264 (-348%), from -€76,727 to -€343,990
- Taxes +€294,452
new in 2025: €294,452
- Gross operating margin +€105,147
up €105,147 (+59.1%), from €177,880 to €283,026
- Depreciation +€41,992
up €41,992 (+49.2%), from €85,271 to €127,263
- Financial charges -€41,445
down €41,445 (-24.5%), from €168,828 to €127,382
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 | €3,984,019 | €6,168,880 | +€2.2m | +54.8% |
| Fixed assets | 21/28 | €3,908,841 | €5,994,789 | +€2.1m | +53.4% |
| Tangible fixed assets | 22/27 | €3,902,223 | €5,994,789 | +€2.1m | +53.6% |
| Land and buildings | 22 | €3,896,244 | €5,989,753 | +€2.1m | +53.7% |
| Plant, machinery and equipment | 23 | €5,979 | €5,036 | -€943 | -15.8% |
| Financial fixed assets | 28 | €6,618 | - | -€6,618 | |
| Current assets | 29/58 | €75,178 | €174,091 | +€98,913 | +132% |
| Amounts receivable within one year | 40/41 | €2,844 | €57,281 | +€54,437 | +1,914% |
| Trade receivables | 40 | €2,844 | €1,733 | -€1,111 | -39.1% |
| Other amounts receivable | 41 | - | €55,548 | +€55,548 | |
| Cash at bank and in hand | 54/58 | €72,334 | €116,649 | +€44,315 | +61.3% |
| Deferred charges and accrued income | 490/1 | - | €161 | +€161 | |
| Total equity and liabilities | 10/49 | €3,984,019 | €6,168,880 | +€2.2m | +54.8% |
| Equity | 10/15 | €296,688 | €2,257,997 | +€2.0m | +661% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €2,228,572 | +€2.2m | |
| Reserves | 13 | €311,415 | €311,415 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €305,215 | €305,215 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€76,727 | -€343,990 | -€267,264 | -348% |
| Amounts payable | 17/49 | €3,687,331 | €3,910,883 | +€223,552 | +6.1% |
| Amounts payable after more than one year | 17 | €2,047,800 | €1,800 | -€2.0m | -99.9% |
| Financial debts | 170/4 | €2,046,000 | - | -€2.0m | |
| Other amounts payable | 178/9 | €1,800 | €1,800 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,571,385 | €3,872,737 | +€2.3m | +146% |
| Current portion of amounts payable after more than one year | 42 | - | €2,046,000 | +€2.0m | |
| Trade debts | 44 | €165,193 | €61,131 | -€104,061 | -63.0% |
| Suppliers | 440/4 | €165,193 | €61,131 | -€104,061 | -63.0% |
| Taxes, remuneration and social security | 45 | €2,247 | €1,830 | -€417 | -18.6% |
| Taxes | 450/3 | €2,247 | €1,830 | -€417 | -18.6% |
| Other amounts payable | 47/48 | €1,403,945 | €1,763,776 | +€359,830 | +25.6% |
| Accrued charges and deferred income | 492/3 | €68,146 | €36,346 | -€31,800 | -46.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €85,271 | €127,263 | +€41,992 | +49.2% |
| Other operating charges | 640/8 | €528 | €1,193 | +€665 | +126% |
| Gross operating margin | 9900 | €177,880 | €283,026 | +€105,147 | +59.1% |
| Operating profit (loss) | 9901 | €92,082 | €154,571 | +€62,489 | +67.9% |
| Financial income | 75/76B | €19 | - | -€19 | |
| Recurring financial income | 75 | €19 | - | -€19 | |
| Financial charges | 65/66B | €168,828 | €127,382 | -€41,445 | -24.5% |
| Recurring financial charges | 65 | €168,828 | €127,382 | -€41,445 | -24.5% |
| Profit (loss) for the period before taxes | 9903 | -€76,727 | €27,188 | +€103,915 | |
| Income taxes | 67/77 | - | €294,452 | +€294,452 | |
| Profit (loss) for the period | 9904 | -€76,727 | -€267,264 | -€190,537 | -248% |
| Profit (loss) for the period to be appropriated | 9905 | -€76,727 | -€267,264 | -€190,537 | -248% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 1 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.