IMACON: 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.
IMACON
Largest movements
- Cash +€1.4m
up €1.4m (+776.7%), from €182,546 to €1.6m
mainly Investment in fixed assets (net) (+€1.0m) and Net result for the year (+€255,896)
- Tangible fixed assets -€1.2m
down €1.2m (-39.3%), from €3.1m to €1.9m
of which Land and buildings: -€1.2m
- Current investments -€166,000
down €166,000 (-33.2%), from €500,000 to €334,000
- Reserves +€255,896
up €255,896 (+10.9%), from €2.3m to €2.6m
of which Distributable reserves: +€683,008
- Provisions -€219,929
down €219,929 (-84.7%), from €259,539 to €39,610
- Tax, wage and social debts +€58,876
up €58,876 (+332.0%), from €17,734 to €76,609
of which Taxes: +€62,246
- Gross operating margin +€258,528
up €258,528 (+347.9%), from €74,320 to €332,849
- Depreciation -€104,300
down €104,300 (-36.5%), from €285,757 to €181,458
- Taxes +€68,389
up €68,389 (+15228.9%), from €449 to €68,838
- Financial income +€16,286
up €16,286 (+76.6%), from €21,249 to €37,535
- Other operating charges -€5,787
down €5,787 (-21.2%), from €27,356 to €21,569
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 | €3,795,474 | €3,879,576 | +€84,102 | +2.2% |
| Fixed assets | 21/28 | €3,093,556 | €1,876,718 | -€1.2m | -39.3% |
| Tangible fixed assets | 22/27 | €3,093,507 | €1,876,669 | -€1.2m | -39.3% |
| Land and buildings | 22 | €2,992,625 | €1,788,599 | -€1.2m | -40.2% |
| Furniture and vehicles | 24 | €100,882 | €88,069 | -€12,813 | -12.7% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €701,917 | €2,002,858 | +€1.3m | +185.3% |
| Stocks and contracts in progress | 3 | €1,487 | €1,472 | -€15 | -1.0% |
| Stocks | 30/36 | €1,487 | €1,472 | -€15 | -1.0% |
| Amounts receivable within one year | 40/41 | €17,885 | €49,293 | +€31,408 | +175.6% |
| Trade receivables | 40 | €2,144 | €39,366 | +€37,222 | +1736.4% |
| Other amounts receivable | 41 | €15,741 | €9,927 | -€5,814 | -36.9% |
| Current investments | 50/53 | €500,000 | €334,000 | -€166,000 | -33.2% |
| Cash at bank and in hand | 54/58 | €182,546 | €1,600,295 | +€1.4m | +776.7% |
| Deferred charges and accrued income | 490/1 | - | €17,798 | +€17,798 | |
| Total equity and liabilities | 10/49 | €3,795,474 | €3,879,576 | +€84,102 | +2.2% |
| Equity | 10/15 | €3,475,192 | €3,731,089 | +€255,896 | +7.4% |
| Contributions | 10/11 | €1,137,215 | €1,137,215 | = | 0.0% |
| Capital | 10 | €1,137,215 | €1,137,215 | = | 0.0% |
| Issued capital | 100 | €1,137,215 | €1,137,215 | = | 0.0% |
| Reserves | 13 | €2,337,977 | €2,593,874 | +€255,896 | +10.9% |
| Non-distributable reserves | 130/1 | €113,722 | €113,722 | = | 0.0% |
| Legal reserve | 130 | €113,722 | €113,722 | = | 0.0% |
| Tax-exempt reserves | 132 | €654,966 | €227,855 | -€427,111 | -65.2% |
| Distributable reserves | 133 | €1,569,290 | €2,252,298 | +€683,008 | +43.5% |
| Provisions and deferred taxes | 16 | €259,539 | €39,610 | -€219,929 | -84.7% |
| Deferred taxes | 168 | €259,539 | €39,610 | -€219,929 | -84.7% |
| Amounts payable | 17/49 | €60,742 | €108,877 | +€48,135 | +79.2% |
| Amounts payable within one year | 42/48 | €57,528 | €106,401 | +€48,873 | +85.0% |
| Trade debts | 44 | €13,034 | €18,528 | +€5,494 | +42.1% |
| Suppliers | 440/4 | €13,034 | €18,528 | +€5,494 | +42.1% |
| Taxes, remuneration and social security | 45 | €17,734 | €76,609 | +€58,876 | +332.0% |
| Taxes | 450/3 | €6,690 | €68,935 | +€62,246 | +930.5% |
| Remuneration and social security | 454/9 | €11,044 | €7,674 | -€3,370 | -30.5% |
| Other amounts payable | 47/48 | €26,761 | €11,264 | -€15,497 | -57.9% |
| Accrued charges and deferred income | 492/3 | €3,213 | €2,475 | -€738 | -23.0% |
| Non-recurring operating income | 76A | - | €326,970 | +€326,970 | |
| Remuneration, social security and pensions | 62 | €59,758 | €60,710 | +€952 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €285,757 | €181,458 | -€104,300 | -36.5% |
| Other operating charges | 640/8 | €27,356 | €21,569 | -€5,787 | -21.2% |
| Non-recurring operating charges | 66A | €4,900 | €0 | -€4,900 | -100.0% |
| Gross operating margin | 9900 | €74,320 | €332,849 | +€258,528 | +347.9% |
| Operating profit (loss) | 9901 | -€303,451 | €69,113 | +€372,564 | |
| Financial income | 75/76B | €21,249 | €37,535 | +€16,286 | +76.6% |
| Recurring financial income | 75 | €21,249 | €37,535 | +€16,286 | +76.6% |
| Financial charges | 65/66B | €2,667 | €1,843 | -€824 | -30.9% |
| Recurring financial charges | 65 | €2,667 | €1,843 | -€824 | -30.9% |
| Profit (loss) for the period before taxes | 9903 | -€284,869 | €104,805 | +€389,674 | |
| Transfer from deferred taxes | 780 | €32,743 | €219,929 | +€187,186 | +571.7% |
| Income taxes | 67/77 | €449 | €68,838 | +€68,389 | +15228.9% |
| Profit (loss) for the period | 9904 | -€252,575 | €255,896 | +€508,471 | |
| Transfer from tax-exempt reserves | 789 | €63,588 | €427,111 | +€363,523 | +571.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€188,987 | €683,008 | +€871,995 |
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 11 October 2026 via checked.be.