IMSTATION: 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.
IMSTATION
Largest movements
- Receivables within one year +€160,765
up €160,765 (+8.7%), from €1.8m to €2.0m
of which Other amounts receivable: +€186,731
- Tangible fixed assets +€137,219
up €137,219 (+3.1%), from €4.4m to €4.6m
of which Land and buildings: +€164,038
- Cash -€113,484
down €113,484 (-82.4%), from €137,686 to €24,202
mainly Investment in fixed assets (net) (-€296,774) and Net result for the year (-€231,067)
- Other debts +€540,576
up €540,576 (+1,802%), from €30,000 to €570,576
- Profit (loss) carried forward -€231,067
down €231,067 (-13.2%), from €1.7m to €1.5m
- Debts after one year -€141,328
down €141,328 (-9.2%), from €1.5m to €1.4m
- Gross operating margin +€139,102
up €139,102, from -€92,358 to €46,744
- Financial charges +€50,806
up €50,806 (+40.6%), from €125,134 to €175,940
- Financial income -€10,883
down €10,883 (-12.7%), from €85,710 to €74,827
- Depreciation +€10,620
up €10,620 (+7.1%), from €148,936 to €159,556
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 | €10,151,991 | €10,333,931 | +€181,940 | +1.8% |
| Fixed assets | 21/28 | €8,172,131 | €8,309,350 | +€137,219 | +1.7% |
| Tangible fixed assets | 22/27 | €4,416,837 | €4,554,055 | +€137,219 | +3.1% |
| Land and buildings | 22 | €4,352,884 | €4,516,922 | +€164,038 | +3.8% |
| Furniture and vehicles | 24 | €63,953 | €37,133 | -€26,820 | -41.9% |
| Financial fixed assets | 28 | €3,755,294 | €3,755,294 | = | 0.0% |
| Current assets | 29/58 | €1,979,860 | €2,024,581 | +€44,721 | +2.3% |
| Amounts receivable within one year | 40/41 | €1,839,615 | €2,000,380 | +€160,765 | +8.7% |
| Trade receivables | 40 | €32,148 | €6,181 | -€25,966 | -80.8% |
| Other amounts receivable | 41 | €1,807,467 | €1,994,198 | +€186,731 | +10.3% |
| Cash at bank and in hand | 54/58 | €137,686 | €24,202 | -€113,484 | -82.4% |
| Deferred charges and accrued income | 490/1 | €2,559 | - | -€2,559 | |
| Total equity and liabilities | 10/49 | €10,151,991 | €10,333,931 | +€181,940 | +1.8% |
| Equity | 10/15 | €5,328,075 | €5,097,008 | -€231,067 | -4.3% |
| Contributions | 10/11 | €92,960 | €92,960 | = | 0.0% |
| Capital | 10 | €92,960 | €92,960 | = | 0.0% |
| Issued capital | 100 | €92,960 | €92,960 | = | 0.0% |
| Reserves | 13 | €3,488,043 | €3,488,043 | = | 0.0% |
| Non-distributable reserves | 130/1 | €9,296 | €9,296 | = | 0.0% |
| Legal reserve | 130 | €9,296 | €9,296 | = | 0.0% |
| Tax-exempt reserves | 132 | €2,880,627 | €2,880,627 | = | 0.0% |
| Distributable reserves | 133 | €598,120 | €598,120 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,747,072 | €1,516,005 | -€231,067 | -13.2% |
| Provisions and deferred taxes | 16 | €960,209 | €960,209 | = | 0.0% |
| Deferred taxes | 168 | €960,209 | €960,209 | = | 0.0% |
| Amounts payable | 17/49 | €3,863,706 | €4,276,714 | +€413,007 | +10.7% |
| Amounts payable after more than one year | 17 | €1,537,407 | €1,396,079 | -€141,328 | -9.2% |
| Financial debts | 170/4 | €1,537,407 | €1,396,079 | -€141,328 | -9.2% |
| Amounts payable within one year | 42/48 | €2,322,586 | €2,876,925 | +€554,339 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €137,457 | €141,328 | +€3,871 | +2.8% |
| Financial debts | 43 | €2,137,385 | €2,150,000 | +€12,615 | +0.6% |
| Credit institutions | 430/8 | €2,137,385 | €2,150,000 | +€12,615 | +0.6% |
| Trade debts | 44 | €10,235 | €5,540 | -€4,696 | -45.9% |
| Suppliers | 440/4 | €10,235 | €5,540 | -€4,696 | -45.9% |
| Taxes, remuneration and social security | 45 | €7,508 | €9,481 | +€1,973 | +26.3% |
| Taxes | 450/3 | €7,508 | €9,481 | +€1,973 | +26.3% |
| Other amounts payable | 47/48 | €30,000 | €570,576 | +€540,576 | +1,802% |
| Accrued charges and deferred income | 492/3 | €3,714 | €3,710 | -€4 | -0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €148,936 | €159,556 | +€10,620 | +7.1% |
| Other operating charges | 640/8 | €16,150 | €16,973 | +€823 | +5.1% |
| Gross operating margin | 9900 | -€92,358 | €46,744 | +€139,102 | |
| Operating profit (loss) | 9901 | -€257,444 | -€129,785 | +€127,660 | +49.6% |
| Financial income | 75/76B | €85,710 | €74,827 | -€10,883 | -12.7% |
| Recurring financial income | 75 | €85,710 | €74,827 | -€10,883 | -12.7% |
| Financial charges | 65/66B | €125,134 | €175,940 | +€50,806 | +40.6% |
| Recurring financial charges | 65 | €125,134 | €175,940 | +€50,806 | +40.6% |
| Profit (loss) for the period before taxes | 9903 | -€296,868 | -€230,897 | +€65,971 | +22.2% |
| Income taxes | 67/77 | €164 | €170 | +€6 | +3.4% |
| Profit (loss) for the period | 9904 | -€297,032 | -€231,067 | +€65,965 | +22.2% |
| Profit (loss) for the period to be appropriated | 9905 | -€297,032 | -€231,067 | +€65,965 | +22.2% |
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 18 October 2026 via checked.be.