IMCOVEST: 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.
IMCOVEST
Largest movements
- Tangible fixed assets -€24,892
down €24,892 (-5.1%), from €491,979 to €467,087
of which Land and buildings: -€24,718
- Debts after one year -€36,000
down €36,000 (-12.1%), from €298,000 to €262,000
- Current portion of long-term debt +€12,000
up €12,000 (+100%), from €12,000 to €24,000
- Gross operating margin +€14,998
up €14,998 (+52.8%), from €28,402 to €43,400
- Depreciation +€11,148
up €11,148 (+80.0%), from €13,939 to €25,087
- Other operating charges +€2,436
up €2,436 (+102%), from €2,389 to €4,825
- Financial charges +€1,166
up €1,166 (+12.2%), from €9,567 to €10,734
- Taxes +€876
up €876 (+140%), from €627 to €1,502
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 | €495,769 | €475,219 | -€20,550 | -4.1% |
| Fixed assets | 21/28 | €491,979 | €467,087 | -€24,892 | -5.1% |
| Tangible fixed assets | 22/27 | €491,979 | €467,087 | -€24,892 | -5.1% |
| Land and buildings | 22 | €491,370 | €466,652 | -€24,718 | -5.0% |
| Furniture and vehicles | 24 | €610 | €436 | -€174 | -28.6% |
| Current assets | 29/58 | €3,790 | €8,132 | +€4,342 | +115% |
| Amounts receivable within one year | 40/41 | €373 | - | -€373 | |
| Other amounts receivable | 41 | €373 | - | -€373 | |
| Cash at bank and in hand | 54/58 | €1,037 | €2,582 | +€1,546 | +149% |
| Deferred charges and accrued income | 490/1 | €2,379 | €5,549 | +€3,170 | +133% |
| Total equity and liabilities | 10/49 | €495,769 | €475,219 | -€20,550 | -4.1% |
| Equity | 10/15 | €172,014 | €173,265 | +€1,252 | +0.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €136,860 | €136,860 | = | 0.0% |
| 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 | €135,000 | €135,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €16,554 | €17,805 | +€1,252 | +7.6% |
| Amounts payable | 17/49 | €323,755 | €301,953 | -€21,802 | -6.7% |
| Amounts payable after more than one year | 17 | €298,000 | €262,000 | -€36,000 | -12.1% |
| Financial debts | 170/4 | €298,000 | €262,000 | -€36,000 | -12.1% |
| Amounts payable within one year | 42/48 | €18,692 | €31,088 | +€12,396 | +66.3% |
| Current portion of amounts payable after more than one year | 42 | €12,000 | €24,000 | +€12,000 | +100% |
| Trade debts | 44 | €3,533 | €2,368 | -€1,166 | -33.0% |
| Suppliers | 440/4 | €3,533 | €2,368 | -€1,166 | -33.0% |
| Taxes, remuneration and social security | 45 | €1,718 | €3,280 | +€1,562 | +90.9% |
| Taxes | 450/3 | €1,718 | €3,280 | +€1,562 | +90.9% |
| Other amounts payable | 47/48 | €1,440 | €1,440 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €7,063 | €8,866 | +€1,802 | +25.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,939 | €25,087 | +€11,148 | +80.0% |
| Other operating charges | 640/8 | €2,389 | €4,825 | +€2,436 | +102% |
| Gross operating margin | 9900 | €28,402 | €43,400 | +€14,998 | +52.8% |
| Operating profit (loss) | 9901 | €12,074 | €13,487 | +€1,414 | +11.7% |
| Financial charges | 65/66B | €9,567 | €10,734 | +€1,166 | +12.2% |
| Recurring financial charges | 65 | €9,567 | €10,734 | +€1,166 | +12.2% |
| Profit (loss) for the period before taxes | 9903 | €2,506 | €2,754 | +€248 | +9.9% |
| Income taxes | 67/77 | €627 | €1,502 | +€876 | +140% |
| Profit (loss) for the period | 9904 | €1,880 | €1,252 | -€628 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,880 | €1,252 | -€628 | -33.4% |
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 19 October 2026 via checked.be.