IMSGP: 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.
IMSGP
Largest movements
- Tangible fixed assets -€46,754
down €46,754 (-10.4%), from €448,198 to €401,444
of which Land and buildings: -€37,256
- Cash +€35,359
up €35,359 (+28.8%), from €122,875 to €158,234
mainly Depreciation (+€46,754) and Net result for the year (+€25,470)
- Receivables within one year +€7,835
up €7,835 (+268.6%), from €2,917 to €10,752
of which Trade receivables: +€7,835
- Debts after one year -€34,585
down €34,585 (-36.5%), from €94,730 to €60,145
- Profit (loss) carried forward +€25,470
up €25,470 (+11.2%), from -€227,728 to -€202,258
- Accrued charges and deferred income +€8,912
up €8,912 (+16.7%), from €53,451 to €62,363
- Gross operating margin +€8,673
up €8,673 (+11.9%), from €72,607 to €81,280
- Financial charges -€1,774
down €1,774 (-39.6%), from €4,479 to €2,705
- Depreciation +€972
up €972 (+2.1%), from €45,783 to €46,754
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 | €592,429 | €587,701 | -€4,728 | -0.8% |
| Fixed assets | 21/28 | €448,198 | €401,444 | -€46,754 | -10.4% |
| Tangible fixed assets | 22/27 | €448,198 | €401,444 | -€46,754 | -10.4% |
| Land and buildings | 22 | €332,152 | €294,897 | -€37,256 | -11.2% |
| Plant, machinery and equipment | 23 | €116,045 | €106,547 | -€9,498 | -8.2% |
| Current assets | 29/58 | €144,231 | €186,258 | +€42,026 | +29.1% |
| Amounts receivable after more than one year | 29 | €16,089 | €16,089 | = | 0.0% |
| Other amounts receivable | 291 | €16,089 | €16,089 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €2,917 | €10,752 | +€7,835 | +268.6% |
| Trade receivables | 40 | €430 | €8,265 | +€7,835 | +1822.1% |
| Other amounts receivable | 41 | €2,487 | €2,487 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €122,875 | €158,234 | +€35,359 | +28.8% |
| Deferred charges and accrued income | 490/1 | €2,351 | €1,183 | -€1,168 | -49.7% |
| Total equity and liabilities | 10/49 | €592,429 | €587,701 | -€4,728 | -0.8% |
| Equity | 10/15 | €422,272 | €447,742 | +€25,470 | +6.0% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€227,728 | -€202,258 | +€25,470 | +11.2% |
| Amounts payable | 17/49 | €170,157 | €139,960 | -€30,198 | -17.7% |
| Amounts payable after more than one year | 17 | €94,730 | €60,145 | -€34,585 | -36.5% |
| Other amounts payable | 178/9 | €94,730 | €60,145 | -€34,585 | -36.5% |
| Amounts payable within one year | 42/48 | €21,976 | €17,452 | -€4,525 | -20.6% |
| Financial debts | 43 | €34 | €34 | = | 0.0% |
| Credit institutions | 430/8 | €34 | €34 | = | 0.0% |
| Trade debts | 44 | €6,390 | €1,865 | -€4,525 | -70.8% |
| Suppliers | 440/4 | €6,390 | €1,865 | -€4,525 | -70.8% |
| Other amounts payable | 47/48 | €15,552 | €15,552 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €53,451 | €62,363 | +€8,912 | +16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,783 | €46,754 | +€972 | +2.1% |
| Other operating charges | 640/8 | €6,150 | €6,351 | +€201 | +3.3% |
| Gross operating margin | 9900 | €72,607 | €81,280 | +€8,673 | +11.9% |
| Operating profit (loss) | 9901 | €20,675 | €28,175 | +€7,501 | +36.3% |
| Financial income | 75/76B | €31 | - | -€31 | |
| Recurring financial income | 75 | €31 | - | -€31 | |
| Financial charges | 65/66B | €4,479 | €2,705 | -€1,774 | -39.6% |
| Recurring financial charges | 65 | €4,479 | €2,705 | -€1,774 | -39.6% |
| Profit (loss) for the period before taxes | 9903 | €16,226 | €25,470 | +€9,243 | +57.0% |
| Profit (loss) for the period | 9904 | €16,226 | €25,470 | +€9,243 | +57.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,226 | €25,470 | +€9,243 | +57.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.