ImVe: 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.
ImVe
Largest movements
- Tangible fixed assets +€979,727
up €979,727 (+21,823%), from €4,489 to €984,217
of which Land and buildings: +€980,838
- Stocks and contracts -€105,128
down €105,128 (-23.7%), from €443,445 to €338,316
- Receivables after one year +€92,700
new in 2025: €92,700
- Receivables within one year -€70,256
down €70,256 (-14.5%), from €484,239 to €413,984
of which Other amounts receivable: -€38,796
- Cash -€55,757
down €55,757 (-67.0%), from €83,207 to €27,450
mainly Investment in fixed assets (net) (-€1.1m) and Receivables after one year (-€92,700)
- Debts after one year +€581,461
new in 2025: €581,461
- Other debts +€125,340
up €125,340 (+503%), from €24,932 to €150,271
- Advances received +€121,825
up €121,825 (+18.9%), from €644,420 to €766,245
- Current portion of long-term debt +€22,915
new in 2025: €22,915
- Depreciation +€127,962
up €127,962 (+11,519%), from €1,111 to €129,073
- Gross operating margin -€89,188
down €89,188 (-40.8%), from €218,774 to €129,586
- Taxes -€45,241
down €45,241 (-99.8%), from €45,345 to €104
- Financial income +€2,314
up €2,314 (+245%), from €944 to €3,258
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 | €1,017,043 | €1,859,509 | +€842,465 | +82.8% |
| Fixed assets | 21/28 | €4,489 | €984,217 | +€979,727 | +21,823% |
| Tangible fixed assets | 22/27 | €4,489 | €984,217 | +€979,727 | +21,823% |
| Land and buildings | 22 | - | €980,838 | +€980,838 | |
| Furniture and vehicles | 24 | €4,489 | €3,379 | -€1,111 | -24.7% |
| Current assets | 29/58 | €1,012,554 | €875,292 | -€137,262 | -13.6% |
| Amounts receivable after more than one year | 29 | - | €92,700 | +€92,700 | |
| Trade receivables | 290 | - | €92,700 | +€92,700 | |
| Stocks and contracts in progress | 3 | €443,445 | €338,316 | -€105,128 | -23.7% |
| Contracts in progress | 37 | €443,445 | €338,316 | -€105,128 | -23.7% |
| Amounts receivable within one year | 40/41 | €484,239 | €413,984 | -€70,256 | -14.5% |
| Trade receivables | 40 | €31,460 | - | -€31,460 | |
| Other amounts receivable | 41 | €452,779 | €413,984 | -€38,796 | -8.6% |
| Cash at bank and in hand | 54/58 | €83,207 | €27,450 | -€55,757 | -67.0% |
| Deferred charges and accrued income | 490/1 | €1,663 | €2,842 | +€1,178 | +70.9% |
| Total equity and liabilities | 10/49 | €1,017,043 | €1,859,509 | +€842,465 | +82.8% |
| Equity | 10/15 | €345,758 | €336,546 | -€9,212 | -2.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €168,500 | €168,500 | = | 0.0% |
| Distributable reserves | 133 | €168,500 | €168,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €158,658 | €149,446 | -€9,212 | -5.8% |
| Amounts payable | 17/49 | €671,285 | €1,522,962 | +€851,677 | +127% |
| Amounts payable after more than one year | 17 | - | €581,461 | +€581,461 | |
| Financial debts | 170/4 | - | €581,461 | +€581,461 | |
| Amounts payable within one year | 42/48 | €670,317 | €941,102 | +€270,784 | +40.4% |
| Current portion of amounts payable after more than one year | 42 | - | €22,915 | +€22,915 | |
| Trade debts | 44 | €620 | €1,566 | +€945 | +152% |
| Suppliers | 440/4 | €620 | €1,566 | +€945 | +152% |
| Advances received on contracts in progress | 46 | €644,420 | €766,245 | +€121,825 | +18.9% |
| Taxes, remuneration and social security | 45 | €345 | €104 | -€241 | -69.8% |
| Taxes | 450/3 | €345 | €104 | -€241 | -69.8% |
| Other amounts payable | 47/48 | €24,932 | €150,271 | +€125,340 | +503% |
| Accrued charges and deferred income | 492/3 | €968 | €400 | -€568 | -58.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,111 | €129,073 | +€127,962 | +11,519% |
| Other operating charges | 640/8 | €1,879 | €3,062 | +€1,183 | +63.0% |
| Non-recurring operating charges | 66A | €10,185 | - | -€10,185 | |
| Gross operating margin | 9900 | €218,774 | €129,586 | -€89,188 | -40.8% |
| Operating profit (loss) | 9901 | €205,599 | -€2,548 | -€208,148 | |
| Financial income | 75/76B | €944 | €3,258 | +€2,314 | +245% |
| Recurring financial income | 75 | €944 | €3,258 | +€2,314 | +245% |
| Financial charges | 65/66B | €9,785 | €9,817 | +€32 | +0.3% |
| Recurring financial charges | 65 | €9,785 | €9,817 | +€32 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €196,758 | -€9,107 | -€205,866 | |
| Income taxes | 67/77 | €45,345 | €104 | -€45,241 | -99.8% |
| Profit (loss) for the period | 9904 | €151,413 | -€9,212 | -€160,625 | |
| Profit (loss) for the period to be appropriated | 9905 | €151,413 | -€9,212 | -€160,625 |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.