IMROEL: 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.
IMROEL
Largest movements
- Cash +€21,051
up €21,051 (+66.4%), from €31,692 to €52,743
mainly Debts after one year (+€57,167) and Depreciation (+€23,866)
- Tangible fixed assets +€12,434
up €12,434 (+3.6%), from €349,804 to €362,238
- Receivables within one year -€5,970
down €5,970 (-59.7%), from €10,005 to €4,035
- Debts after one year +€57,167
up €57,167 (+69.2%), from €82,568 to €139,735
- Trade debts -€47,802
down €47,802 (-72.5%), from €65,952 to €18,150
- Reserves +€17,578
up €17,578 (+10.4%), from €168,459 to €186,037
of which Distributable reserves: +€17,578
- Gross operating margin +€22,579
up €22,579 (+60.2%), from €37,508 to €60,087
- Depreciation +€7,319
up €7,319 (+44.2%), from €16,547 to €23,866
- Taxes +€3,470
up €3,470, from €0 to €3,470
- Financial charges +€3,094
up €3,094 (+179%), from €1,726 to €4,820
- Other operating charges +€854
up €854 (+9.0%), from €9,516 to €10,370
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €396,003 | €423,530 | +€27,527 | +7.0% |
| Fixed assets | 21/28 | €349,804 | €362,238 | +€12,434 | +3.6% |
| Tangible fixed assets | 22/27 | €349,804 | €362,238 | +€12,434 | +3.6% |
| Land and buildings | 22 | €349,804 | €362,238 | +€12,434 | +3.6% |
| Current assets | 29/58 | €46,199 | €61,292 | +€15,093 | +32.7% |
| Amounts receivable within one year | 40/41 | €10,005 | €4,035 | -€5,970 | -59.7% |
| Other amounts receivable | 41 | €10,005 | €4,035 | -€5,970 | -59.7% |
| Current investments | 50/53 | €2,825 | €2,837 | +€12 | +0.4% |
| Cash at bank and in hand | 54/58 | €31,692 | €52,743 | +€21,051 | +66.4% |
| Deferred charges and accrued income | 490/1 | €1,677 | €1,677 | = | 0.0% |
| Total equity and liabilities | 10/49 | €396,003 | €423,530 | +€27,527 | +7.0% |
| Equity | 10/15 | €232,459 | €250,037 | +€17,578 | +7.6% |
| Contributions | 10/11 | €64,000 | €64,000 | = | 0.0% |
| Capital | 10 | €64,000 | €64,000 | = | 0.0% |
| Issued capital | 100 | €64,000 | €64,000 | = | 0.0% |
| Reserves | 13 | €168,459 | €186,037 | +€17,578 | +10.4% |
| Non-distributable reserves | 130/1 | €6,400 | €6,400 | = | 0.0% |
| Legal reserve | 130 | €6,400 | €6,400 | = | 0.0% |
| Distributable reserves | 133 | €162,059 | €179,637 | +€17,578 | +10.8% |
| Amounts payable | 17/49 | €163,544 | €173,493 | +€9,949 | +6.1% |
| Amounts payable after more than one year | 17 | €82,568 | €139,735 | +€57,167 | +69.2% |
| Financial debts | 170/4 | €82,568 | €139,735 | +€57,167 | +69.2% |
| Amounts payable within one year | 42/48 | €80,976 | €33,758 | -€47,218 | -58.3% |
| Current portion of amounts payable after more than one year | 42 | €15,024 | €15,608 | +€584 | +3.9% |
| Trade debts | 44 | €65,952 | €18,150 | -€47,802 | -72.5% |
| Suppliers | 440/4 | €65,952 | €18,150 | -€47,802 | -72.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,547 | €23,866 | +€7,319 | +44.2% |
| Other operating charges | 640/8 | €9,516 | €10,370 | +€854 | +9.0% |
| Gross operating margin | 9900 | €37,508 | €60,087 | +€22,579 | +60.2% |
| Operating profit (loss) | 9901 | €11,445 | €25,851 | +€14,406 | +126% |
| Financial income | 75/76B | €16 | €17 | +€1 | +6.3% |
| Recurring financial income | 75 | €16 | €17 | +€1 | +6.3% |
| Financial charges | 65/66B | €1,726 | €4,820 | +€3,094 | +179% |
| Recurring financial charges | 65 | €1,726 | €4,820 | +€3,094 | +179% |
| Profit (loss) for the period before taxes | 9903 | €9,735 | €21,048 | +€11,313 | +116% |
| Transfer from deferred taxes | 780 | €982 | - | -€982 | |
| Income taxes | 67/77 | €0 | €3,470 | +€3,470 | |
| Profit (loss) for the period | 9904 | €10,717 | €17,578 | +€6,861 | +64.0% |
| Transfer from tax-exempt reserves | 789 | €2,945 | - | -€2,945 | |
| Profit (loss) for the period to be appropriated | 9905 | €13,662 | €17,578 | +€3,916 | +28.7% |
Source: filed annual accounts (NBB), financial years ended 30 April 2025 and 30 April 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.