IMZ: 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.
IMZ
Largest movements
- Receivables within one year +€259,355
up €259,355 (+54.9%), from €472,043 to €731,398
of which Other amounts receivable: +€225,000
- Financial fixed assets +€84,515
up €84,515 (+4.4%), from €1.9m to €2.0m
- Tangible fixed assets -€61,267
down €61,267 (-3.4%), from €1.8m to €1.7m
of which Land and buildings: -€158,302
- Profit (loss) carried forward +€161,719
up €161,719 (+15.7%), from -€1.0m to -€868,285
- Debts after one year +€72,990
new in 2025: €72,990
- Trade debts +€62,737
up €62,737 (+126%), from €49,884 to €112,621
- Gross operating margin +€58,718
up €58,718 (+17.9%), from €327,213 to €385,931
- Financial income -€30,889
down €30,889 (-26.8%), from €115,404 to €84,515
- Depreciation +€3,923
up €3,923 (+2.4%), from €165,014 to €168,938
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 | €4,389,581 | €4,687,027 | +€297,446 | +6.8% |
| Fixed assets | 21/28 | €3,740,050 | €3,763,298 | +€23,248 | +0.6% |
| Tangible fixed assets | 22/27 | €1,801,989 | €1,740,722 | -€61,267 | -3.4% |
| Land and buildings | 22 | €1,687,014 | €1,528,713 | -€158,302 | -9.4% |
| Plant, machinery and equipment | 23 | €114,974 | €212,009 | +€97,035 | +84.4% |
| Financial fixed assets | 28 | €1,938,061 | €2,022,576 | +€84,515 | +4.4% |
| Current assets | 29/58 | €649,531 | €923,729 | +€274,198 | +42.2% |
| Amounts receivable within one year | 40/41 | €472,043 | €731,398 | +€259,355 | +54.9% |
| Trade receivables | 40 | €31,543 | €65,898 | +€34,355 | +109% |
| Other amounts receivable | 41 | €440,500 | €665,500 | +€225,000 | +51.1% |
| Cash at bank and in hand | 54/58 | €98,876 | €129,441 | +€30,565 | +30.9% |
| Deferred charges and accrued income | 490/1 | €78,612 | €62,890 | -€15,722 | -20.0% |
| Total equity and liabilities | 10/49 | €4,389,581 | €4,687,027 | +€297,446 | +6.8% |
| Equity | 10/15 | €4,339,698 | €4,501,417 | +€161,719 | +3.7% |
| Contributions | 10/11 | €5,357,000 | €5,357,000 | = | 0.0% |
| Capital | 10 | €5,357,000 | €5,357,000 | = | 0.0% |
| Issued capital | 100 | €5,357,000 | €5,357,000 | = | 0.0% |
| Reserves | 13 | €12,701 | €12,701 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,701 | €12,701 | = | 0.0% |
| Legal reserve | 130 | €333 | €333 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,368 | €12,368 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,030,004 | -€868,285 | +€161,719 | +15.7% |
| Amounts payable | 17/49 | €49,884 | €185,611 | +€135,727 | +272% |
| Amounts payable after more than one year | 17 | - | €72,990 | +€72,990 | |
| Other amounts payable | 178/9 | - | €72,990 | +€72,990 | |
| Amounts payable within one year | 42/48 | €49,884 | €112,621 | +€62,737 | +126% |
| Trade debts | 44 | €49,884 | €112,621 | +€62,737 | +126% |
| Suppliers | 440/4 | €49,884 | €112,621 | +€62,737 | +126% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €165,014 | €168,938 | +€3,923 | +2.4% |
| Other operating charges | 640/8 | €136,635 | €139,313 | +€2,678 | +2.0% |
| Gross operating margin | 9900 | €327,213 | €385,931 | +€58,718 | +17.9% |
| Operating profit (loss) | 9901 | €25,565 | €77,680 | +€52,116 | +204% |
| Financial income | 75/76B | €115,404 | €84,515 | -€30,889 | -26.8% |
| Recurring financial income | 75 | €115,404 | €84,515 | -€30,889 | -26.8% |
| Financial charges | 65/66B | €638 | €476 | -€161 | -25.3% |
| Recurring financial charges | 65 | €638 | €476 | -€161 | -25.3% |
| Profit (loss) for the period before taxes | 9903 | €140,331 | €161,719 | +€21,388 | +15.2% |
| Profit (loss) for the period | 9904 | €140,331 | €161,719 | +€21,388 | +15.2% |
| Profit (loss) for the period to be appropriated | 9905 | €140,331 | €161,719 | +€21,388 | +15.2% |
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.