IMCOSA: 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.
IMCOSA
Largest movements
- Receivables within one year +€16,321
up €16,321 (+20.6%), from €79,230 to €95,550
of which Other amounts receivable: +€30,455
- Cash -€2,910
down €2,910 (-54.1%), from €5,383 to €2,473
mainly Receivables within one year (-€16,321) and Tax, wage and social debts (-€9,873)
- Reserves +€18,981
up €18,981 (+18.2%), from €104,045 to €123,026
of which Distributable reserves: +€18,981
- Trade debts +€10,168
up €10,168 (+1,249%), from €814 to €10,982
- Tax, wage and social debts -€9,873
down €9,873 (-27.3%), from €36,131 to €26,258
of which Taxes: -€10,498
- Debts after one year -€6,683
down €6,683 (-14.5%), from €46,249 to €39,566
- Gross operating margin -€36,653
down €36,653 (-51.9%), from €70,666 to €34,013
- Taxes -€10,069
down €10,069 (-50.7%), from €19,840 to €9,772
- Financial income +€1,452
up €1,452 (+144%), from €1,008 to €2,460
- Financial charges +€818
up €818 (+16.0%), from €5,106 to €5,924
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 | €212,220 | €225,114 | +€12,894 | +6.1% |
| Fixed assets | 21/28 | €127,457 | €126,938 | -€519 | -0.4% |
| Tangible fixed assets | 22/27 | €127,457 | €126,938 | -€519 | -0.4% |
| Land and buildings | 22 | €125,235 | €125,235 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,222 | €1,703 | -€519 | -23.4% |
| Current assets | 29/58 | €84,763 | €98,177 | +€13,413 | +15.8% |
| Amounts receivable within one year | 40/41 | €79,230 | €95,550 | +€16,321 | +20.6% |
| Trade receivables | 40 | €46,211 | €32,077 | -€14,134 | -30.6% |
| Other amounts receivable | 41 | €33,018 | €63,473 | +€30,455 | +92.2% |
| Cash at bank and in hand | 54/58 | €5,383 | €2,473 | -€2,910 | -54.1% |
| Deferred charges and accrued income | 490/1 | €150 | €153 | +€3 | +1.9% |
| Total equity and liabilities | 10/49 | €212,220 | €225,114 | +€12,894 | +6.1% |
| Equity | 10/15 | €122,645 | €141,626 | +€18,981 | +15.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €104,045 | €123,026 | +€18,981 | +18.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €102,185 | €121,166 | +€18,981 | +18.6% |
| Amounts payable | 17/49 | €89,575 | €83,488 | -€6,087 | -6.8% |
| Amounts payable after more than one year | 17 | €46,249 | €39,566 | -€6,683 | -14.5% |
| Financial debts | 170/4 | €46,249 | €39,566 | -€6,683 | -14.5% |
| Amounts payable within one year | 42/48 | €43,326 | €43,922 | +€596 | +1.4% |
| Current portion of amounts payable after more than one year | 42 | €6,381 | €6,683 | +€302 | +4.7% |
| Trade debts | 44 | €814 | €10,982 | +€10,168 | +1,249% |
| Suppliers | 440/4 | €814 | €10,982 | +€10,168 | +1,249% |
| Taxes, remuneration and social security | 45 | €36,131 | €26,258 | -€9,873 | -27.3% |
| Taxes | 450/3 | €33,005 | €22,508 | -€10,498 | -31.8% |
| Remuneration and social security | 454/9 | €3,126 | €3,750 | +€624 | +20.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €375 | €519 | +€145 | +38.6% |
| Other operating charges | 640/8 | €1,663 | €1,278 | -€385 | -23.2% |
| Gross operating margin | 9900 | €70,666 | €34,013 | -€36,653 | -51.9% |
| Operating profit (loss) | 9901 | €68,629 | €32,216 | -€36,413 | -53.1% |
| Financial income | 75/76B | €1,008 | €2,460 | +€1,452 | +144% |
| Recurring financial income | 75 | €1,008 | €2,460 | +€1,452 | +144% |
| Financial charges | 65/66B | €5,106 | €5,924 | +€818 | +16.0% |
| Recurring financial charges | 65 | €5,106 | €5,924 | +€818 | +16.0% |
| Profit (loss) for the period before taxes | 9903 | €64,531 | €28,752 | -€35,778 | -55.4% |
| Income taxes | 67/77 | €19,840 | €9,772 | -€10,069 | -50.7% |
| Profit (loss) for the period | 9904 | €44,691 | €18,981 | -€25,710 | -57.5% |
| Profit (loss) for the period to be appropriated | 9905 | €44,691 | €18,981 | -€25,710 | -57.5% |
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 28 October 2026 via checked.be.