IMCO: 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.
IMCO
Largest movements
- Tangible fixed assets -€24,509
down €24,509 (-3.8%), from €644,862 to €620,354
of which Land and buildings: -€17,844
- Debts after one year -€31,741
down €31,741 (-7.8%), from €405,457 to €373,716
of which Financial debts: -€31,741
- Other debts +€19,318
up €19,318 (+11.8%), from €164,399 to €183,717
- Gross operating margin -€11,407
down €11,407 (-21.1%), from €54,113 to €42,707
- Other operating charges -€2,175
down €2,175 (-29.3%), from €7,425 to €5,250
- Taxes -€1,714
down €1,714 (-100.0%), from €1,714 to €0
- Depreciation -€584
down €584 (-2.1%), from €28,011 to €27,427
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 | €654,239 | €633,317 | -€20,922 | -3.2% |
| Fixed assets | 21/28 | €644,862 | €620,354 | -€24,509 | -3.8% |
| Tangible fixed assets | 22/27 | €644,862 | €620,354 | -€24,509 | -3.8% |
| Land and buildings | 22 | €622,584 | €604,740 | -€17,844 | -2.9% |
| Plant, machinery and equipment | 23 | €7,714 | €5,202 | -€2,512 | -32.6% |
| Furniture and vehicles | 24 | €14,564 | €10,412 | -€4,152 | -28.5% |
| Current assets | 29/58 | €9,377 | €12,964 | +€3,587 | +38.3% |
| Cash at bank and in hand | 54/58 | €4,705 | €6,212 | +€1,508 | +32.0% |
| Deferred charges and accrued income | 490/1 | €4,672 | €6,751 | +€2,079 | +44.5% |
| Total equity and liabilities | 10/49 | €654,239 | €633,317 | -€20,922 | -3.2% |
| Equity | 10/15 | €42,384 | €41,344 | -€1,040 | -2.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €22,384 | €21,344 | -€1,040 | -4.6% |
| Distributable reserves | 133 | €22,384 | €21,344 | -€1,040 | -4.6% |
| Amounts payable | 17/49 | €611,855 | €591,973 | -€19,882 | -3.2% |
| Amounts payable after more than one year | 17 | €405,457 | €373,716 | -€31,741 | -7.8% |
| Financial debts | 170/4 | €403,157 | €371,416 | -€31,741 | -7.9% |
| Other amounts payable | 178/9 | €2,300 | €2,300 | = | 0.0% |
| Amounts payable within one year | 42/48 | €203,399 | €218,258 | +€14,859 | +7.3% |
| Current portion of amounts payable after more than one year | 42 | €30,955 | €31,741 | +€786 | +2.5% |
| Trade debts | 44 | €6,335 | €2,800 | -€3,535 | -55.8% |
| Suppliers | 440/4 | €6,335 | €2,800 | -€3,535 | -55.8% |
| Taxes, remuneration and social security | 45 | €1,710 | - | -€1,710 | |
| Taxes | 450/3 | €1,710 | - | -€1,710 | |
| Other amounts payable | 47/48 | €164,399 | €183,717 | +€19,318 | +11.8% |
| Accrued charges and deferred income | 492/3 | €3,000 | - | -€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,011 | €27,427 | -€584 | -2.1% |
| Other operating charges | 640/8 | €7,425 | €5,250 | -€2,175 | -29.3% |
| Gross operating margin | 9900 | €54,113 | €42,707 | -€11,407 | -21.1% |
| Operating profit (loss) | 9901 | €18,678 | €10,030 | -€8,648 | -46.3% |
| Financial charges | 65/66B | €10,668 | €11,070 | +€402 | +3.8% |
| Recurring financial charges | 65 | €10,668 | €11,070 | +€402 | +3.8% |
| Profit (loss) for the period before taxes | 9903 | €8,010 | -€1,040 | -€9,050 | |
| Income taxes | 67/77 | €1,714 | €0 | -€1,714 | -100.0% |
| Profit (loss) for the period | 9904 | €6,296 | -€1,040 | -€7,335 | |
| Profit (loss) for the period to be appropriated | 9905 | €6,296 | -€1,040 | -€7,335 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 13 October 2026 via checked.be.