IMOGEN: 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.
IMOGEN
Largest movements
- Cash +€174,347
up €174,347 (+81.6%), from €213,685 to €388,032
mainly Net result for the year (+€142,487) and Depreciation (+€52,996)
- Tangible fixed assets -€44,636
down €44,636 (-4.5%), from €994,537 to €949,901
of which Land and buildings: -€42,289
- Receivables within one year +€27,958
up €27,958 (+67.1%), from €41,687 to €69,644
of which Other amounts receivable: +€27,833
- Reserves +€142,487
up €142,487 (+76.0%), from €187,387 to €329,874
of which Distributable reserves: +€142,487
- Gross operating margin +€53,377
up €53,377 (+22.6%), from €235,722 to €289,099
- Taxes +€22,261
up €22,261 (+46.9%), from €47,479 to €69,739
- Depreciation +€11,972
up €11,972 (+29.2%), from €41,024 to €52,996
- Financial charges +€3,742
up €3,742 (+25.7%), from €14,556 to €18,299
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 | €1,251,352 | €1,408,948 | +€157,596 | +12.6% |
| Fixed assets | 21/28 | €994,562 | €949,926 | -€44,636 | -4.5% |
| Tangible fixed assets | 22/27 | €994,537 | €949,901 | -€44,636 | -4.5% |
| Land and buildings | 22 | €940,343 | €898,054 | -€42,289 | -4.5% |
| Plant, machinery and equipment | 23 | €9,749 | €6,244 | -€3,505 | -36.0% |
| Furniture and vehicles | 24 | €44,446 | €45,603 | +€1,157 | +2.6% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €256,789 | €459,021 | +€202,232 | +78.8% |
| Amounts receivable within one year | 40/41 | €41,687 | €69,644 | +€27,958 | +67.1% |
| Trade receivables | 40 | €2,232 | €2,357 | +€125 | +5.6% |
| Other amounts receivable | 41 | €39,454 | €67,287 | +€27,833 | +70.5% |
| Cash at bank and in hand | 54/58 | €213,685 | €388,032 | +€174,347 | +81.6% |
| Deferred charges and accrued income | 490/1 | €1,418 | €1,346 | -€72 | -5.1% |
| Total equity and liabilities | 10/49 | €1,251,352 | €1,408,948 | +€157,596 | +12.6% |
| Equity | 10/15 | €781,716 | €924,203 | +€142,487 | +18.2% |
| Contributions | 10/11 | €62,011 | €62,011 | = | 0.0% |
| Capital | 10 | €62,011 | €62,011 | = | 0.0% |
| Issued capital | 100 | €62,011 | €62,011 | = | 0.0% |
| Reserves | 13 | €187,387 | €329,874 | +€142,487 | +76.0% |
| Tax-exempt reserves | 132 | €19,523 | €19,523 | = | 0.0% |
| Distributable reserves | 133 | €167,864 | €310,351 | +€142,487 | +84.9% |
| Profit (loss) carried forward | 14 | €532,318 | €532,318 | = | 0.0% |
| Amounts payable | 17/49 | €469,636 | €484,745 | +€15,108 | +3.2% |
| Amounts payable after more than one year | 17 | €379,973 | €379,973 | = | 0.0% |
| Financial debts | 170/4 | €379,973 | €379,973 | = | 0.0% |
| Amounts payable within one year | 42/48 | €89,631 | €104,739 | +€15,108 | +16.9% |
| Trade debts | 44 | €4,587 | €731 | -€3,856 | -84.1% |
| Suppliers | 440/4 | €4,587 | €731 | -€3,856 | -84.1% |
| Taxes, remuneration and social security | 45 | €63,864 | €77,218 | +€13,354 | +20.9% |
| Taxes | 450/3 | €63,864 | €77,218 | +€13,354 | +20.9% |
| Other amounts payable | 47/48 | €21,180 | €26,790 | +€5,610 | +26.5% |
| Accrued charges and deferred income | 492/3 | €32 | €33 | +€1 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,024 | €52,996 | +€11,972 | +29.2% |
| Other operating charges | 640/8 | €7,642 | €7,828 | +€186 | +2.4% |
| Non-recurring operating charges | 66A | €7,437 | €0 | -€7,437 | -100% |
| Gross operating margin | 9900 | €235,722 | €289,099 | +€53,377 | +22.6% |
| Operating profit (loss) | 9901 | €179,619 | €228,275 | +€48,656 | +27.1% |
| Financial income | 75/76B | €325 | €2,251 | +€1,926 | +593% |
| Recurring financial income | 75 | €325 | €2,251 | +€1,926 | +593% |
| Financial charges | 65/66B | €14,556 | €18,299 | +€3,742 | +25.7% |
| Recurring financial charges | 65 | €14,556 | €18,299 | +€3,742 | +25.7% |
| Profit (loss) for the period before taxes | 9903 | €165,387 | €212,227 | +€46,840 | +28.3% |
| Income taxes | 67/77 | €47,479 | €69,739 | +€22,261 | +46.9% |
| Profit (loss) for the period | 9904 | €117,909 | €142,487 | +€24,579 | +20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €117,909 | €142,487 | +€24,579 | +20.8% |
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 25 October 2026 via checked.be.