IMSART: 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.
IMSART
Largest movements
- Tangible fixed assets -€11,540
down €11,540 (-3.1%), from €369,431 to €357,890
- Profit (loss) carried forward -€13,052
down €13,052 (-3.0%), from €442,004 to €428,952
- Other operating charges -€3,490
down €3,490 (-50.8%), from €6,874 to €3,384
- Financial income +€1,004
up €1,004 (+22.1%), from €4,536 to €5,540
- Gross operating margin +€286
up €286 (+8.4%), from -€3,417 to -€3,131
- Taxes -€100
down €100 (-57.2%), from €175 to €75
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 | €839,081 | €825,913 | -€13,169 | -1.6% |
| Fixed assets | 21/28 | €369,431 | €357,890 | -€11,540 | -3.1% |
| Tangible fixed assets | 22/27 | €369,431 | €357,890 | -€11,540 | -3.1% |
| Land and buildings | 22 | €369,431 | €357,890 | -€11,540 | -3.1% |
| Current assets | 29/58 | €469,651 | €468,022 | -€1,628 | -0.3% |
| Stocks and contracts in progress | 3 | €266,872 | €271,935 | +€5,063 | +1.9% |
| Stocks | 30/36 | €266,872 | €271,935 | +€5,063 | +1.9% |
| Amounts receivable within one year | 40/41 | €199,165 | €193,188 | -€5,977 | -3.0% |
| Trade receivables | 40 | €66 | - | -€66 | |
| Other amounts receivable | 41 | €199,098 | €193,188 | -€5,910 | -3.0% |
| Cash at bank and in hand | 54/58 | €1,799 | €2,899 | +€1,100 | +61.2% |
| Deferred charges and accrued income | 490/1 | €1,815 | - | -€1,815 | |
| Total equity and liabilities | 10/49 | €839,081 | €825,913 | -€13,169 | -1.6% |
| Equity | 10/15 | €838,845 | €825,793 | -€13,052 | -1.6% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Capital | 10 | €250,000 | €250,000 | = | 0.0% |
| Issued capital | 100 | €250,000 | €250,000 | = | 0.0% |
| Reserves | 13 | €146,840 | €146,840 | = | 0.0% |
| Non-distributable reserves | 130/1 | €25,000 | €25,000 | = | 0.0% |
| Legal reserve | 130 | €25,000 | €25,000 | = | 0.0% |
| Distributable reserves | 133 | €121,840 | €121,840 | = | 0.0% |
| Profit (loss) carried forward | 14 | €442,004 | €428,952 | -€13,052 | -3.0% |
| Amounts payable | 17/49 | €237 | €120 | -€117 | -49.3% |
| Amounts payable within one year | 42/48 | €237 | €120 | -€117 | -49.3% |
| Trade debts | 44 | €62 | - | -€62 | |
| Suppliers | 440/4 | €62 | - | -€62 | |
| Taxes, remuneration and social security | 45 | €174 | €120 | -€54 | -31.1% |
| Taxes | 450/3 | €174 | €120 | -€54 | -31.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,540 | €11,540 | = | 0.0% |
| Other operating charges | 640/8 | €6,874 | €3,384 | -€3,490 | -50.8% |
| Gross operating margin | 9900 | -€3,417 | -€3,131 | +€286 | +8.4% |
| Operating profit (loss) | 9901 | -€21,832 | -€18,056 | +€3,776 | +17.3% |
| Financial income | 75/76B | €4,536 | €5,540 | +€1,004 | +22.1% |
| Recurring financial income | 75 | €4,536 | €5,540 | +€1,004 | +22.1% |
| Financial charges | 65/66B | €445 | €462 | +€16 | +3.7% |
| Recurring financial charges | 65 | €445 | €462 | +€16 | +3.7% |
| Profit (loss) for the period before taxes | 9903 | -€17,741 | -€12,977 | +€4,764 | +26.9% |
| Income taxes | 67/77 | €175 | €75 | -€100 | -57.2% |
| Profit (loss) for the period | 9904 | -€17,916 | -€13,052 | +€4,864 | +27.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,916 | -€13,052 | +€4,864 | +27.1% |
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 4 October 2026 via checked.be.