IMWO: 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.
IMWO
Largest movements
- Tangible fixed assets +€8,629
up €8,629 (+297%), from €2,901 to €11,529
of which Furniture and vehicles: +€9,095
- Cash -€8,472
down €8,472 (-72.7%), from €11,647 to €3,175
mainly Investment in fixed assets (net) (-€12,883) and Net result for the year (-€5,706)
- Receivables within one year -€7,625
down €7,625 (-51.3%), from €14,860 to €7,235
of which Trade receivables: -€6,540
- Deferred charges and accrued income +€484
up €484 (+320%), from €151 to €635
- Profit (loss) carried forward -€5,706
down €5,706 (-139%), from -€4,102 to -€9,808
- Other debts -€1,278
down €1,278 (-4.9%), from €25,875 to €24,597
- Gross operating margin -€15,829
down €15,829 (-96.8%), from €16,353 to €524
- Depreciation +€3,788
up €3,788 (+813%), from €466 to €4,254
- Financial charges +€1,176
up €1,176 (+1,452%), from €81 to €1,257
- Other operating charges -€196
down €196 (-20.1%), from €977 to €780
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 | €29,559 | €22,575 | -€6,985 | -23.6% |
| Fixed assets | 21/28 | €2,901 | €11,529 | +€8,629 | +297% |
| Tangible fixed assets | 22/27 | €2,901 | €11,529 | +€8,629 | +297% |
| Furniture and vehicles | 24 | - | €9,095 | +€9,095 | |
| Other tangible fixed assets | 26 | €2,901 | €2,435 | -€466 | -16.1% |
| Current assets | 29/58 | €26,659 | €11,045 | -€15,614 | -58.6% |
| Amounts receivable within one year | 40/41 | €14,860 | €7,235 | -€7,625 | -51.3% |
| Trade receivables | 40 | €12,627 | €6,087 | -€6,540 | -51.8% |
| Other amounts receivable | 41 | €2,234 | €1,148 | -€1,086 | -48.6% |
| Cash at bank and in hand | 54/58 | €11,647 | €3,175 | -€8,472 | -72.7% |
| Deferred charges and accrued income | 490/1 | €151 | €635 | +€484 | +320% |
| Total equity and liabilities | 10/49 | €29,559 | €22,575 | -€6,985 | -23.6% |
| Equity | 10/15 | €2,098 | -€3,608 | -€5,706 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,102 | -€9,808 | -€5,706 | -139% |
| Amounts payable | 17/49 | €27,461 | €26,183 | -€1,279 | -4.7% |
| Amounts payable within one year | 42/48 | €27,461 | €26,183 | -€1,279 | -4.7% |
| Trade debts | 44 | €1,586 | €1,586 | -€1 | 0.0% |
| Suppliers | 440/4 | €1,586 | €1,586 | -€1 | 0.0% |
| Other amounts payable | 47/48 | €25,875 | €24,597 | -€1,278 | -4.9% |
| Non-recurring operating income | 76A | - | €16,200 | +€16,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €466 | €4,254 | +€3,788 | +813% |
| Other operating charges | 640/8 | €977 | €780 | -€196 | -20.1% |
| Gross operating margin | 9900 | €16,353 | €524 | -€15,829 | -96.8% |
| Operating profit (loss) | 9901 | €14,910 | -€4,510 | -€19,421 | |
| Financial income | 75/76B | €0 | €62 | +€62 | +27,959% |
| Recurring financial income | 75 | €0 | €62 | +€62 | +27,959% |
| Financial charges | 65/66B | €81 | €1,257 | +€1,176 | +1,452% |
| Recurring financial charges | 65 | €81 | €1,257 | +€1,176 | +1,452% |
| Profit (loss) for the period before taxes | 9903 | €14,830 | -€5,706 | -€20,535 | |
| Profit (loss) for the period | 9904 | €14,830 | -€5,706 | -€20,535 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,830 | -€5,706 | -€20,535 |
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.