IMVIBEL: what changed
Two fiscal 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.
IMVIBEL
Largest movements
- Receivables within one year -€17,688
down €17,688 (-25.0%), from €70,719 to €53,031
of which Other amounts receivable: -€18,108
- Stocks and contracts +€9,111
up €9,111 (+444.4%), from €2,050 to €11,161
- Receivables after one year -€6,000
down €6,000 (-9.9%), from €60,628 to €54,628
- Profit (loss) carried forward -€8,907
down €8,907 (-31.6%), from -€28,179 to -€37,086
- Trade debts -€4,819
down €4,819 (-61.3%), from €7,858 to €3,039
- Gross operating margin +€3,767
up €3,767 (+25.6%), from -€14,699 to -€10,931
- Depreciation -€3,353
down €3,353 (-92.6%), from €3,620 to €267
- Financial income -€1,073
down €1,073 (-21.0%), from €5,114 to €4,041
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 | €135,683 | €121,175 | -€14,508 | -10.7% |
| Fixed assets | 21/28 | €634 | €367 | -€267 | -42.1% |
| Tangible fixed assets | 22/27 | €634 | €367 | -€267 | -42.1% |
| Plant, machinery and equipment | 23 | €634 | €367 | -€267 | -42.1% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Current assets | 29/58 | €135,049 | €120,807 | -€14,242 | -10.5% |
| Amounts receivable after more than one year | 29 | €60,628 | €54,628 | -€6,000 | -9.9% |
| Other amounts receivable | 291 | €60,628 | €54,628 | -€6,000 | -9.9% |
| Stocks and contracts in progress | 3 | €2,050 | €11,161 | +€9,111 | +444.4% |
| Stocks | 30/36 | €2,050 | €11,161 | +€9,111 | +444.4% |
| Amounts receivable within one year | 40/41 | €70,719 | €53,031 | -€17,688 | -25.0% |
| Trade receivables | 40 | - | €421 | +€421 | |
| Other amounts receivable | 41 | €70,719 | €52,611 | -€18,108 | -25.6% |
| Cash at bank and in hand | 54/58 | €0 | €0 | = | |
| Deferred charges and accrued income | 490/1 | €1,652 | €1,987 | +€335 | +20.3% |
| Total equity and liabilities | 10/49 | €135,683 | €121,175 | -€14,508 | -10.7% |
| Equity | 10/15 | €122,069 | €113,162 | -€8,907 | -7.3% |
| 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 | €57,288 | €57,288 | = | 0.0% |
| Non-distributable reserves | 130/1 | €5,913 | €5,913 | = | 0.0% |
| Legal reserve | 130 | €5,913 | €5,913 | = | 0.0% |
| Distributable reserves | 133 | €51,375 | €51,375 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,179 | -€37,086 | -€8,907 | -31.6% |
| Amounts payable | 17/49 | €13,614 | €8,013 | -€5,602 | -41.1% |
| Amounts payable within one year | 42/48 | €13,614 | €8,013 | -€5,602 | -41.1% |
| Financial debts | 43 | €4,078 | €3,571 | -€507 | -12.4% |
| Credit institutions | 430/8 | €4,078 | €3,571 | -€507 | -12.4% |
| Trade debts | 44 | €7,858 | €3,039 | -€4,819 | -61.3% |
| Suppliers | 440/4 | €7,858 | €3,039 | -€4,819 | -61.3% |
| Taxes, remuneration and social security | 45 | €1,678 | €1,403 | -€275 | -16.4% |
| Taxes | 450/3 | €1,678 | €1,403 | -€275 | -16.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,620 | €267 | -€3,353 | -92.6% |
| Other operating charges | 640/8 | €528 | €544 | +€16 | +3.0% |
| Gross operating margin | 9900 | -€14,699 | -€10,931 | +€3,767 | +25.6% |
| Operating profit (loss) | 9901 | -€18,846 | -€11,742 | +€7,104 | +37.7% |
| Financial income | 75/76B | €5,114 | €4,041 | -€1,073 | -21.0% |
| Recurring financial income | 75 | €5,114 | €4,041 | -€1,073 | -21.0% |
| Financial charges | 65/66B | €461 | €556 | +€96 | +20.7% |
| Recurring financial charges | 65 | €461 | €556 | +€96 | +20.7% |
| Profit (loss) for the period before taxes | 9903 | -€14,193 | -€8,257 | +€5,936 | +41.8% |
| Income taxes | 67/77 | €663 | €650 | -€14 | -2.1% |
| Profit (loss) for the period | 9904 | -€14,856 | -€8,907 | +€5,949 | +40.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€14,856 | -€8,907 | +€5,949 | +40.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.