Imco: 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.
Imco
Largest movements
- Cash +€125,400
up €125,400 (+27.7%), from €453,420 to €578,820
mainly Net result for the year (+€96,860) and Depreciation (+€68,766)
- Tangible fixed assets -€68,766
down €68,766 (-11.7%), from €586,111 to €517,345
of which Furniture and vehicles: -€36,517
- Receivables within one year -€44,928
down €44,928 (-26.4%), from €170,432 to €125,504
- Reserves +€96,860
up €96,860 (+13.8%), from €699,837 to €796,697
of which Distributable reserves: +€97,879
- Debts after one year -€50,320
down €50,320 (-14.2%), from €354,045 to €303,725
- Tax, wage and social debts -€28,502
down €28,502 (-48.0%), from €59,410 to €30,908
of which Taxes: -€26,046
- Gross operating margin -€55,823
down €55,823 (-15.4%), from €362,896 to €307,074
- Taxes -€20,098
down €20,098 (-31.5%), from €63,827 to €43,729
- Staff costs +€6,170
up €6,170 (+8.2%), from €75,322 to €81,491
- Financial income -€4,450
down €4,450 (-57.6%), from €7,720 to €3,270
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 | €1,211,218 | €1,221,804 | +€10,586 | +0.9% |
| Fixed assets | 21/28 | €586,246 | €517,480 | -€68,766 | -11.7% |
| Tangible fixed assets | 22/27 | €586,111 | €517,345 | -€68,766 | -11.7% |
| Land and buildings | 22 | €444,233 | €419,384 | -€24,848 | -5.6% |
| Plant, machinery and equipment | 23 | €32,469 | €25,069 | -€7,400 | -22.8% |
| Furniture and vehicles | 24 | €109,410 | €72,892 | -€36,517 | -33.4% |
| Financial fixed assets | 28 | €135 | €135 | = | 0.0% |
| Current assets | 29/58 | €624,972 | €704,324 | +€79,352 | +12.7% |
| Stocks and contracts in progress | 3 | €173 | €0 | -€173 | -100.0% |
| Stocks | 30/36 | €173 | €0 | -€173 | -100.0% |
| Amounts receivable within one year | 40/41 | €170,432 | €125,504 | -€44,928 | -26.4% |
| Trade receivables | 40 | €170,432 | €125,504 | -€44,928 | -26.4% |
| Cash at bank and in hand | 54/58 | €453,420 | €578,820 | +€125,400 | +27.7% |
| Deferred charges and accrued income | 490/1 | €947 | €0 | -€947 | -100.0% |
| Total equity and liabilities | 10/49 | €1,211,218 | €1,221,804 | +€10,586 | +0.9% |
| Equity | 10/15 | €718,437 | €815,297 | +€96,860 | +13.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €699,837 | €796,697 | +€96,860 | +13.8% |
| Tax-exempt reserves | 132 | €31,846 | €30,826 | -€1,019 | -3.2% |
| Distributable reserves | 133 | €667,992 | €765,871 | +€97,879 | +14.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €10,515 | €10,175 | -€340 | -3.2% |
| Deferred taxes | 168 | €10,515 | €10,175 | -€340 | -3.2% |
| Amounts payable | 17/49 | €482,266 | €396,332 | -€85,934 | -17.8% |
| Amounts payable after more than one year | 17 | €354,045 | €303,725 | -€50,320 | -14.2% |
| Financial debts | 170/4 | €354,045 | €303,725 | -€50,320 | -14.2% |
| Amounts payable within one year | 42/48 | €128,097 | €92,607 | -€35,490 | -27.7% |
| Current portion of amounts payable after more than one year | 42 | €48,999 | €50,320 | +€1,321 | +2.7% |
| Financial debts | 43 | €6,692 | €0 | -€6,692 | -100.0% |
| Credit institutions | 430/8 | €6,692 | €0 | -€6,692 | -100.0% |
| Trade debts | 44 | €10,023 | €4,385 | -€5,639 | -56.3% |
| Suppliers | 440/4 | €10,023 | €4,385 | -€5,639 | -56.3% |
| Taxes, remuneration and social security | 45 | €59,410 | €30,908 | -€28,502 | -48.0% |
| Taxes | 450/3 | €47,995 | €21,949 | -€26,046 | -54.3% |
| Remuneration and social security | 454/9 | €11,415 | €8,959 | -€2,457 | -21.5% |
| Other amounts payable | 47/48 | €2,973 | €6,994 | +€4,022 | +135.3% |
| Accrued charges and deferred income | 492/3 | €124 | €0 | -€124 | -100.0% |
| Remuneration, social security and pensions | 62 | €75,322 | €81,491 | +€6,170 | +8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €66,314 | €68,766 | +€2,452 | +3.7% |
| Other operating charges | 640/8 | €8,110 | €7,528 | -€582 | -7.2% |
| Gross operating margin | 9900 | €362,896 | €307,074 | -€55,823 | -15.4% |
| Operating profit (loss) | 9901 | €213,151 | €149,288 | -€63,862 | -30.0% |
| Financial income | 75/76B | €7,720 | €3,270 | -€4,450 | -57.6% |
| Recurring financial income | 75 | €7,720 | €3,270 | -€4,450 | -57.6% |
| Financial charges | 65/66B | €15,096 | €12,309 | -€2,786 | -18.5% |
| Recurring financial charges | 65 | €15,096 | €12,309 | -€2,786 | -18.5% |
| Profit (loss) for the period before taxes | 9903 | €205,775 | €140,249 | -€65,526 | -31.8% |
| Transfer from deferred taxes | 780 | €340 | €340 | +€0 | 0.0% |
| Income taxes | 67/77 | €63,827 | €43,729 | -€20,098 | -31.5% |
| Profit (loss) for the period | 9904 | €142,288 | €96,860 | -€45,428 | -31.9% |
| Transfer from tax-exempt reserves | 789 | €1,019 | €1,019 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €143,307 | €97,879 | -€45,428 | -31.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.