IMVESK: 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.
IMVESK
Largest movements
- Tangible fixed assets -€36,933
down €36,933 (-1.1%), from €3.3m to €3.2m
of which Land and buildings: -€84,440
- Debts after one year -€108,067
down €108,067 (-24.9%), from €433,925 to €325,858
- Other debts +€55,130
up €55,130 (+4.8%), from €1.1m to €1.2m
- Accrued charges and deferred income +€44,392
up €44,392 (+4.8%), from €933,108 to €977,500
- Current portion of long-term debt -€43,383
down €43,383 (-29.3%), from €147,977 to €104,594
- Gross operating margin +€18,551
up €18,551 (+8.7%), from €213,882 to €232,433
- Depreciation +€10,352
up €10,352 (+7.9%), from €131,055 to €141,408
- Taxes +€6,300
up €6,300 (+291.1%), from €2,164 to €8,464
- Financial charges +€3,989
up €3,989 (+10.8%), from €36,848 to €40,837
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 | €3,285,247 | €3,251,773 | -€33,474 | -1.0% |
| Fixed assets | 21/28 | €3,261,492 | €3,224,559 | -€36,933 | -1.1% |
| Tangible fixed assets | 22/27 | €3,260,992 | €3,224,059 | -€36,933 | -1.1% |
| Land and buildings | 22 | €3,024,594 | €2,940,155 | -€84,440 | -2.8% |
| Plant, machinery and equipment | 23 | €235,908 | €283,905 | +€47,996 | +20.3% |
| Other tangible fixed assets | 26 | €489 | - | -€489 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €23,756 | €27,214 | +€3,459 | +14.6% |
| Amounts receivable within one year | 40/41 | - | €1,560 | +€1,560 | |
| Trade receivables | 40 | - | €1,560 | +€1,560 | |
| Cash at bank and in hand | 54/58 | €592 | €2,775 | +€2,183 | +368.9% |
| Deferred charges and accrued income | 490/1 | €23,164 | €22,879 | -€285 | -1.2% |
| Total equity and liabilities | 10/49 | €3,285,247 | €3,251,773 | -€33,474 | -1.0% |
| Equity | 10/15 | €560,367 | €582,846 | +€22,480 | +4.0% |
| Contributions | 10/11 | €418,600 | €418,600 | = | 0.0% |
| Reserves | 13 | €140,842 | €141,767 | +€924 | +0.7% |
| Non-distributable reserves | 130/1 | €41,860 | €41,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €41,860 | €41,860 | = | 0.0% |
| Distributable reserves | 133 | €98,982 | €99,907 | +€924 | +0.9% |
| Profit (loss) carried forward | 14 | €924 | €22,480 | +€21,556 | +2332.2% |
| Amounts payable | 17/49 | €2,724,881 | €2,668,927 | -€55,954 | -2.1% |
| Amounts payable after more than one year | 17 | €433,925 | €325,858 | -€108,067 | -24.9% |
| Financial debts | 170/4 | €433,925 | €325,858 | -€108,067 | -24.9% |
| Amounts payable within one year | 42/48 | €1,357,848 | €1,365,569 | +€7,721 | +0.6% |
| Current portion of amounts payable after more than one year | 42 | €147,977 | €104,594 | -€43,383 | -29.3% |
| Financial debts | 43 | €9,712 | €9,530 | -€182 | -1.9% |
| Credit institutions | 430/8 | €9,712 | €9,530 | -€182 | -1.9% |
| Trade debts | 44 | €42,183 | €29,876 | -€12,307 | -29.2% |
| Suppliers | 440/4 | €42,183 | €29,876 | -€12,307 | -29.2% |
| Taxes, remuneration and social security | 45 | €8,600 | €17,064 | +€8,464 | +98.4% |
| Taxes | 450/3 | €8,600 | €17,064 | +€8,464 | +98.4% |
| Other amounts payable | 47/48 | €1,149,375 | €1,204,505 | +€55,130 | +4.8% |
| Accrued charges and deferred income | 492/3 | €933,108 | €977,500 | +€44,392 | +4.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €131,055 | €141,408 | +€10,352 | +7.9% |
| Other operating charges | 640/8 | €18,923 | €19,245 | +€322 | +1.7% |
| Gross operating margin | 9900 | €213,882 | €232,433 | +€18,551 | +8.7% |
| Operating profit (loss) | 9901 | €63,903 | €71,781 | +€7,877 | +12.3% |
| Financial charges | 65/66B | €36,848 | €40,837 | +€3,989 | +10.8% |
| Recurring financial charges | 65 | €36,848 | €40,837 | +€3,989 | +10.8% |
| Profit (loss) for the period before taxes | 9903 | €27,056 | €30,944 | +€3,888 | +14.4% |
| Income taxes | 67/77 | €2,164 | €8,464 | +€6,300 | +291.1% |
| Profit (loss) for the period | 9904 | €24,892 | €22,480 | -€2,412 | -9.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,892 | €22,480 | -€2,412 | -9.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.