IMZARO: 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.
IMZARO
Largest movements
- Tangible fixed assets -€10,387
down €10,387 (-2.9%), from €364,298 to €353,911
- Cash -€6,375
down €6,375 (-11.1%), from €57,234 to €50,859
mainly Debts after one year (-€11,366) and Investment in fixed assets (net) (-€8,812)
- Debts after one year -€11,366
down €11,366 (-9.7%), from €117,086 to €105,720
- Gross operating margin +€1,289
up €1,289 (+7.0%), from €18,418 to €19,706
- Depreciation +€379
up €379 (+2.0%), from €18,820 to €19,199
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 | €422,115 | €405,372 | -€16,743 | -4.0% |
| Fixed assets | 21/28 | €364,298 | €353,911 | -€10,387 | -2.9% |
| Tangible fixed assets | 22/27 | €364,298 | €353,911 | -€10,387 | -2.9% |
| Land and buildings | 22 | €364,298 | €353,911 | -€10,387 | -2.9% |
| Current assets | 29/58 | €57,817 | €51,461 | -€6,356 | -11.0% |
| Cash at bank and in hand | 54/58 | €57,234 | €50,859 | -€6,375 | -11.1% |
| Deferred charges and accrued income | 490/1 | €583 | €602 | +€19 | +3.2% |
| Total equity and liabilities | 10/49 | €422,115 | €405,372 | -€16,743 | -4.0% |
| Equity | 10/15 | €5,477 | €3,649 | -€1,828 | -33.4% |
| Contributions | 10/11 | €15,000 | €15,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€9,523 | -€11,351 | -€1,828 | -19.2% |
| Amounts payable | 17/49 | €416,638 | €401,723 | -€14,915 | -3.6% |
| Amounts payable after more than one year | 17 | €117,086 | €105,720 | -€11,366 | -9.7% |
| Financial debts | 170/4 | €117,086 | €105,720 | -€11,366 | -9.7% |
| Amounts payable within one year | 42/48 | €299,552 | €296,003 | -€3,549 | -1.2% |
| Current portion of amounts payable after more than one year | 42 | €11,203 | €11,366 | +€164 | +1.5% |
| Taxes, remuneration and social security | 45 | €1,112 | - | -€1,112 | |
| Taxes | 450/3 | €1,112 | - | -€1,112 | |
| Other amounts payable | 47/48 | €287,238 | €284,637 | -€2,600 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,820 | €19,199 | +€379 | +2.0% |
| Other operating charges | 640/8 | €496 | €499 | +€3 | +0.6% |
| Gross operating margin | 9900 | €18,418 | €19,706 | +€1,289 | +7.0% |
| Operating profit (loss) | 9901 | -€899 | €8 | +€907 | |
| Financial income | 75/76B | - | €108 | +€108 | |
| Recurring financial income | 75 | - | €108 | +€108 | |
| Financial charges | 65/66B | €2,098 | €1,944 | -€153 | -7.3% |
| Recurring financial charges | 65 | €2,098 | €1,944 | -€153 | -7.3% |
| Profit (loss) for the period before taxes | 9903 | -€2,996 | -€1,828 | +€1,168 | +39.0% |
| Profit (loss) for the period | 9904 | -€2,996 | -€1,828 | +€1,168 | +39.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,996 | -€1,828 | +€1,168 | +39.0% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.