IMCOLAN: 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.
IMCOLAN
Largest movements
- Tangible fixed assets +€437,974
up €437,974 (+18.9%), from €2.3m to €2.8m
of which Land and buildings: +€442,010
- Debts after one year +€366,278
up €366,278 (+24.1%), from €1.5m to €1.9m
- Reserves +€70,088
up €70,088 (+18.1%), from €387,079 to €457,168
- Current portion of long-term debt +€29,924
up €29,924 (+17.3%), from €172,576 to €202,500
- Depreciation +€59,313
up €59,313 (+58.1%), from €102,112 to €161,426
- Financial charges -€14,402
down €14,402 (-28.5%), from €50,459 to €36,057
- Taxes -€13,864
down €13,864 (-36.4%), from €38,113 to €24,249
- Gross operating margin +€6,957
up €6,957 (+2.2%), from €316,519 to €323,476
- Write-downs +€6,124
up €6,124 (+163.2%), from €3,752 to €9,876
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 | €2,335,139 | €2,775,404 | +€440,265 | +18.9% |
| Fixed assets | 21/28 | €2,316,209 | €2,754,184 | +€437,974 | +18.9% |
| Tangible fixed assets | 22/27 | €2,316,209 | €2,754,184 | +€437,974 | +18.9% |
| Land and buildings | 22 | €2,305,717 | €2,747,727 | +€442,010 | +19.2% |
| Furniture and vehicles | 24 | €10,492 | €6,457 | -€4,035 | -38.5% |
| Current assets | 29/58 | €18,930 | €21,220 | +€2,290 | +12.1% |
| Amounts receivable within one year | 40/41 | €2,294 | €1,800 | -€495 | -21.6% |
| Trade receivables | 40 | €2,294 | €1,800 | -€495 | -21.6% |
| Cash at bank and in hand | 54/58 | €13,397 | €15,876 | +€2,479 | +18.5% |
| Deferred charges and accrued income | 490/1 | €3,239 | €3,545 | +€306 | +9.5% |
| Total equity and liabilities | 10/49 | €2,335,139 | €2,775,404 | +€440,265 | +18.9% |
| Equity | 10/15 | €405,679 | €475,768 | +€70,088 | +17.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €387,079 | €457,168 | +€70,088 | +18.1% |
| Distributable reserves | 133 | €387,079 | €457,168 | +€70,088 | +18.1% |
| Amounts payable | 17/49 | €1,929,460 | €2,299,636 | +€370,176 | +19.2% |
| Amounts payable after more than one year | 17 | €1,521,100 | €1,887,378 | +€366,278 | +24.1% |
| Financial debts | 170/4 | €1,521,100 | €1,887,378 | +€366,278 | +24.1% |
| Amounts payable within one year | 42/48 | €399,218 | €406,478 | +€7,260 | +1.8% |
| Current portion of amounts payable after more than one year | 42 | €172,576 | €202,500 | +€29,924 | +17.3% |
| Trade debts | 44 | €2,521 | €1,218 | -€1,303 | -51.7% |
| Suppliers | 440/4 | €2,521 | €1,218 | -€1,303 | -51.7% |
| Taxes, remuneration and social security | 45 | €29,120 | €10,789 | -€18,330 | -62.9% |
| Taxes | 450/3 | €29,120 | €10,789 | -€18,330 | -62.9% |
| Other amounts payable | 47/48 | €195,001 | €191,971 | -€3,030 | -1.6% |
| Accrued charges and deferred income | 492/3 | €9,142 | €5,780 | -€3,362 | -36.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,112 | €161,426 | +€59,313 | +58.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,752 | €9,876 | +€6,124 | +163.2% |
| Other operating charges | 640/8 | €19,539 | €21,780 | +€2,241 | +11.5% |
| Gross operating margin | 9900 | €316,519 | €323,476 | +€6,957 | +2.2% |
| Operating profit (loss) | 9901 | €191,116 | €130,394 | -€60,721 | -31.8% |
| Financial charges | 65/66B | €50,459 | €36,057 | -€14,402 | -28.5% |
| Recurring financial charges | 65 | €50,459 | €36,057 | -€14,402 | -28.5% |
| Profit (loss) for the period before taxes | 9903 | €140,657 | €94,337 | -€46,320 | -32.9% |
| Income taxes | 67/77 | €38,113 | €24,249 | -€13,864 | -36.4% |
| Profit (loss) for the period | 9904 | €102,544 | €70,088 | -€32,456 | -31.7% |
| Profit (loss) for the period to be appropriated | 9905 | €102,544 | €70,088 | -€32,456 | -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.