IMVEC: 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.
IMVEC
Largest movements
- Tangible fixed assets -€5,040
down €5,040 (-2.9%), from €173,028 to €167,988
- Cash -€3,525
down €3,525 (-11.7%), from €30,074 to €26,549
mainly Debts after one year (-€24,789) and Accrued charges and deferred income (-€1,006)
- Debts after one year -€24,789
down €24,789 (-3.6%), from €694,102 to €669,313
- Profit (loss) carried forward +€17,602
up €17,602 (+3.2%), from -€552,220 to -€534,618
- Depreciation -€15,119
down €15,119 (-75.0%), from €20,159 to €5,040
- Gross operating margin +€3,824
up €3,824 (+5.3%), from €72,011 to €75,835
- Financial charges -€1,353
down €1,353 (-3.3%), from €40,411 to €39,058
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 | €204,149 | €195,769 | -€8,380 | -4.1% |
| Fixed assets | 21/28 | €173,028 | €167,988 | -€5,040 | -2.9% |
| Tangible fixed assets | 22/27 | €173,028 | €167,988 | -€5,040 | -2.9% |
| Land and buildings | 22 | €173,028 | €167,988 | -€5,040 | -2.9% |
| Current assets | 29/58 | €31,121 | €27,781 | -€3,341 | -10.7% |
| Cash at bank and in hand | 54/58 | €30,074 | €26,549 | -€3,525 | -11.7% |
| Deferred charges and accrued income | 490/1 | €1,048 | €1,232 | +€184 | +17.6% |
| Total equity and liabilities | 10/49 | €204,149 | €195,769 | -€8,380 | -4.1% |
| Equity | 10/15 | -€533,620 | -€516,018 | +€17,602 | +3.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€552,220 | -€534,618 | +€17,602 | +3.2% |
| Amounts payable | 17/49 | €737,769 | €711,787 | -€25,982 | -3.5% |
| Amounts payable after more than one year | 17 | €694,102 | €669,313 | -€24,789 | -3.6% |
| Financial debts | 170/4 | €694,102 | €669,313 | -€24,789 | -3.6% |
| Amounts payable within one year | 42/48 | €15,487 | €15,301 | -€186 | -1.2% |
| Trade debts | 44 | €449 | €694 | +€245 | +54.7% |
| Suppliers | 440/4 | €449 | €694 | +€245 | +54.7% |
| Taxes, remuneration and social security | 45 | €12,077 | €11,646 | -€431 | -3.6% |
| Taxes | 450/3 | €12,077 | €11,646 | -€431 | -3.6% |
| Other amounts payable | 47/48 | €2,961 | €2,961 | +€0 | 0.0% |
| Accrued charges and deferred income | 492/3 | €28,181 | €27,174 | -€1,006 | -3.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,159 | €5,040 | -€15,119 | -75.0% |
| Other operating charges | 640/8 | €13,707 | €14,135 | +€429 | +3.1% |
| Gross operating margin | 9900 | €72,011 | €75,835 | +€3,824 | +5.3% |
| Operating profit (loss) | 9901 | €38,146 | €56,660 | +€18,514 | +48.5% |
| Financial charges | 65/66B | €40,411 | €39,058 | -€1,353 | -3.3% |
| Recurring financial charges | 65 | €40,411 | €39,058 | -€1,353 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,265 | €17,602 | +€19,867 | |
| Profit (loss) for the period | 9904 | -€2,265 | €17,602 | +€19,867 | |
| Profit (loss) for the period to be appropriated | 9905 | -€2,265 | €17,602 | +€19,867 |
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 13 October 2026 via checked.be.