I.M.C.: 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.
I.M.C.
Largest movements
- Tangible fixed assets +€60,730
up €60,730 (+56.6%), from €107,369 to €168,099
of which Furniture and vehicles: +€73,053
- Cash -€8,954
down €8,954 (-36.9%), from €24,246 to €15,292
mainly Investment in fixed assets (net) (-€116,638) and Receivables within one year (-€6,137)
- Receivables within one year +€6,137
up €6,137 (+20.9%), from €29,354 to €35,491
of which Other amounts receivable: +€6,137
- Deferred charges and accrued income +€4,758
up €4,758 (+410.2%), from €1,160 to €5,918
- Trade debts +€26,933
up €26,933 (+326.2%), from €8,256 to €35,189
- Debts after one year +€16,974
up €16,974 (+64.2%), from €26,458 to €43,432
- Reserves +€14,955
up €14,955 (+9.5%), from €157,919 to €172,875
of which Distributable reserves: +€20,453
- Current portion of long-term debt +€6,483
up €6,483 (+22.0%), from €29,406 to €35,889
- Gross operating margin +€41,699
up €41,699 (+60.3%), from €69,207 to €110,906
- Depreciation +€12,878
up €12,878 (+29.9%), from €43,029 to €55,908
- Taxes +€9,235
up €9,235 (+79.0%), from €11,687 to €20,922
- Other operating charges +€5,479
up €5,479 (+98.3%), from €5,576 to €11,055
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 | €398,934 | €461,604 | +€62,670 | +15.7% |
| Fixed assets | 21/28 | €107,369 | €168,099 | +€60,730 | +56.6% |
| Tangible fixed assets | 22/27 | €107,369 | €168,099 | +€60,730 | +56.6% |
| Land and buildings | 22 | €51,388 | €28,032 | -€23,357 | -45.5% |
| Plant, machinery and equipment | 23 | €13,023 | €24,057 | +€11,034 | +84.7% |
| Furniture and vehicles | 24 | €42,958 | €116,010 | +€73,053 | +170.1% |
| Current assets | 29/58 | €291,565 | €293,505 | +€1,940 | +0.7% |
| Stocks and contracts in progress | 3 | €236,804 | €236,804 | = | 0.0% |
| Contracts in progress | 37 | €236,804 | €236,804 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €29,354 | €35,491 | +€6,137 | +20.9% |
| Trade receivables | 40 | €29,040 | €29,040 | +€0 | 0.0% |
| Other amounts receivable | 41 | €314 | €6,451 | +€6,137 | +1953.0% |
| Cash at bank and in hand | 54/58 | €24,246 | €15,292 | -€8,954 | -36.9% |
| Deferred charges and accrued income | 490/1 | €1,160 | €5,918 | +€4,758 | +410.2% |
| Total equity and liabilities | 10/49 | €398,934 | €461,604 | +€62,670 | +15.7% |
| Equity | 10/15 | €182,719 | €197,675 | +€14,955 | +8.2% |
| Contributions | 10/11 | €24,800 | €24,800 | = | 0.0% |
| Reserves | 13 | €157,919 | €172,875 | +€14,955 | +9.5% |
| Tax-exempt reserves | 132 | €9,621 | €4,123 | -€5,498 | -57.1% |
| Distributable reserves | 133 | €148,298 | €168,751 | +€20,453 | +13.8% |
| Provisions and deferred taxes | 16 | €4,954 | €2,123 | -€2,831 | -57.1% |
| Deferred taxes | 168 | €4,954 | €2,123 | -€2,831 | -57.1% |
| Amounts payable | 17/49 | €211,260 | €261,806 | +€50,546 | +23.9% |
| Amounts payable after more than one year | 17 | €26,458 | €43,432 | +€16,974 | +64.2% |
| Financial debts | 170/4 | €26,458 | €43,432 | +€16,974 | +64.2% |
| Amounts payable within one year | 42/48 | €177,408 | €210,478 | +€33,070 | +18.6% |
| Current portion of amounts payable after more than one year | 42 | €29,406 | €35,889 | +€6,483 | +22.0% |
| Financial debts | 43 | €21 | €0 | -€21 | -100.0% |
| Credit institutions | 430/8 | €21 | €0 | -€21 | -100.0% |
| Trade debts | 44 | €8,256 | €35,189 | +€26,933 | +326.2% |
| Suppliers | 440/4 | €8,256 | €35,189 | +€26,933 | +326.2% |
| Taxes, remuneration and social security | 45 | €35,040 | €36,513 | +€1,473 | +4.2% |
| Taxes | 450/3 | €24,411 | €24,790 | +€379 | +1.6% |
| Remuneration and social security | 454/9 | €10,629 | €11,723 | +€1,095 | +10.3% |
| Other amounts payable | 47/48 | €104,685 | €102,887 | -€1,798 | -1.7% |
| Accrued charges and deferred income | 492/3 | €7,394 | €7,897 | +€502 | +6.8% |
| Non-recurring operating income | 76A | €0 | €19,500 | +€19,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,029 | €55,908 | +€12,878 | +29.9% |
| Other operating charges | 640/8 | €5,576 | €11,055 | +€5,479 | +98.3% |
| Gross operating margin | 9900 | €69,207 | €110,906 | +€41,699 | +60.3% |
| Operating profit (loss) | 9901 | €20,602 | €43,943 | +€23,342 | +113.3% |
| Financial income | 75/76B | €4 | €1 | -€3 | -79.3% |
| Recurring financial income | 75 | €4 | €1 | -€3 | -79.3% |
| Financial charges | 65/66B | €10,848 | €10,898 | +€49 | +0.5% |
| Recurring financial charges | 65 | €10,848 | €10,898 | +€49 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €9,757 | €33,047 | +€23,289 | +238.7% |
| Transfer from deferred taxes | 780 | €2,831 | €2,831 | = | 0.0% |
| Income taxes | 67/77 | €11,687 | €20,922 | +€9,235 | +79.0% |
| Profit (loss) for the period | 9904 | €901 | €14,955 | +€14,054 | +1559.0% |
| Transfer from tax-exempt reserves | 789 | €5,498 | €5,498 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €6,399 | €20,453 | +€14,054 | +219.6% |
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 12 October 2026 via checked.be.