IMVERTEC: 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.
IMVERTEC
Largest movements
- Receivables within one year +€17,224
up €17,224 (+10.8%), from €159,389 to €176,613
of which Other amounts receivable: +€14,019
- Tangible fixed assets -€9,193
down €9,193 (-4.7%), from €193,891 to €184,699
of which Land and buildings: -€8,780
- Deferred charges and accrued income -€8,030
down €8,030 (-60.8%), from €13,208 to €5,179
- Advances received +€55,327
up €55,327 (+662%), from €8,363 to €63,690
- Accrued charges and deferred income -€38,000
down €38,000 (-89.2%), from €42,599 to €4,599
- Other debts +€22,163
up €22,163 (+297%), from €7,463 to €29,626
- Short-term financial debts -€16,129
down €16,129 (-100%), from €16,129 to €0
- Tax, wage and social debts -€16,074
down €16,074 (-42.4%), from €37,884 to €21,811
of which Taxes: -€9,680
- Gross operating margin -€22,859
down €22,859 (-24.3%), from €93,999 to €71,140
- Staff costs -€16,787
down €16,787 (-27.4%), from €61,368 to €44,581
- Financial income -€4,082
down €4,082 (-57.3%), from €7,128 to €3,047
of which Financial income: -€4,082
- Depreciation +€3,164
up €3,164 (+20.9%), from €15,117 to €18,280
- Other operating charges +€1,400
up €1,400 (+33.1%), from €4,224 to €5,624
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 | €432,507 | €435,139 | +€2,632 | +0.6% |
| Fixed assets | 21/28 | €193,891 | €184,699 | -€9,193 | -4.7% |
| Tangible fixed assets | 22/27 | €193,891 | €184,699 | -€9,193 | -4.7% |
| Land and buildings | 22 | €178,231 | €169,452 | -€8,780 | -4.9% |
| Plant, machinery and equipment | 23 | €10,495 | €6,214 | -€4,280 | -40.8% |
| Furniture and vehicles | 24 | €5,166 | €9,033 | +€3,867 | +74.9% |
| Current assets | 29/58 | €238,615 | €250,440 | +€11,825 | +5.0% |
| Stocks and contracts in progress | 3 | €65,899 | €66,882 | +€983 | +1.5% |
| Stocks | 30/36 | €65,899 | €66,882 | +€983 | +1.5% |
| Amounts receivable within one year | 40/41 | €159,389 | €176,613 | +€17,224 | +10.8% |
| Trade receivables | 40 | €150,850 | €154,055 | +€3,205 | +2.1% |
| Other amounts receivable | 41 | €8,539 | €22,558 | +€14,019 | +164% |
| Cash at bank and in hand | 54/58 | €119 | €1,767 | +€1,648 | +1,390% |
| Deferred charges and accrued income | 490/1 | €13,208 | €5,179 | -€8,030 | -60.8% |
| Total equity and liabilities | 10/49 | €432,507 | €435,139 | +€2,632 | +0.6% |
| Equity | 10/15 | €263,599 | €262,411 | -€1,188 | -0.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €244,999 | €243,811 | -€1,188 | -0.5% |
| Distributable reserves | 133 | €244,999 | €243,811 | -€1,188 | -0.5% |
| Amounts payable | 17/49 | €168,908 | €172,728 | +€3,821 | +2.3% |
| Amounts payable after more than one year | 17 | €4,061 | €4,061 | = | 0.0% |
| Financial debts | 170/4 | €4,061 | €4,061 | = | 0.0% |
| Amounts payable within one year | 42/48 | €122,248 | €164,068 | +€41,821 | +34.2% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Financial debts | 43 | €16,129 | €0 | -€16,129 | -100% |
| Credit institutions | 430/8 | €16,129 | €0 | -€16,129 | -100% |
| Trade debts | 44 | €52,409 | €48,942 | -€3,467 | -6.6% |
| Suppliers | 440/4 | €52,409 | €48,942 | -€3,467 | -6.6% |
| Advances received on contracts in progress | 46 | €8,363 | €63,690 | +€55,327 | +662% |
| Taxes, remuneration and social security | 45 | €37,884 | €21,811 | -€16,074 | -42.4% |
| Taxes | 450/3 | €15,661 | €5,981 | -€9,680 | -61.8% |
| Remuneration and social security | 454/9 | €22,223 | €15,830 | -€6,394 | -28.8% |
| Other amounts payable | 47/48 | €7,463 | €29,626 | +€22,163 | +297% |
| Accrued charges and deferred income | 492/3 | €42,599 | €4,599 | -€38,000 | -89.2% |
| Remuneration, social security and pensions | 62 | €61,368 | €44,581 | -€16,787 | -27.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,117 | €18,280 | +€3,164 | +20.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,194 | €484 | -€709 | -59.4% |
| Other operating charges | 640/8 | €4,224 | €5,624 | +€1,400 | +33.1% |
| Gross operating margin | 9900 | €93,999 | €71,140 | -€22,859 | -24.3% |
| Operating profit (loss) | 9901 | €12,097 | €2,171 | -€9,926 | -82.1% |
| Financial income | 75/76B | €7,128 | €3,047 | -€4,082 | -57.3% |
| Recurring financial income | 75 | €7,128 | €3,047 | -€4,082 | -57.3% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €5,132 | €5,530 | +€399 | +7.8% |
| Recurring financial charges | 65 | €5,132 | €5,530 | +€399 | +7.8% |
| Profit (loss) for the period before taxes | 9903 | €14,094 | -€313 | -€14,407 | |
| Income taxes | 67/77 | €1,461 | €876 | -€586 | -40.1% |
| Profit (loss) for the period | 9904 | €12,633 | -€1,188 | -€13,821 | |
| Profit (loss) for the period to be appropriated | 9905 | €12,633 | -€1,188 | -€13,821 |
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 14 October 2026 via checked.be.