IMELCO: 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.
IMELCO
Largest movements
- Cash +€423,462
up €423,462 (+33.5%), from €1.3m to €1.7m
mainly Trade debts (+€252,265) and Accrued charges and deferred income (+€162,500)
- Receivables within one year +€19,544
up €19,544 (+11.4%), from €171,050 to €190,595
of which Trade receivables: +€17,184
- Trade debts +€252,265
up €252,265 (+67.8%), from €371,869 to €624,135
- Accrued charges and deferred income +€162,500
up €162,500 (+325.0%), from €50,000 to €212,500
- Gross operating margin +€98,383
up €98,383 (+43.6%), from €225,861 to €324,245
- Financial income -€69,194
down €69,194 (-54.4%), from €127,091 to €57,897
- Other operating charges +€8,468
up €8,468 (+756.8%), from €1,119 to €9,587
- Staff costs +€8,462
up €8,462 (+2.4%), from €345,795 to €354,258
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 | €1,506,714 | €1,938,367 | +€431,653 | +28.6% |
| Fixed assets | 21/28 | €33,581 | €34,310 | +€730 | +2.2% |
| Tangible fixed assets | 22/27 | €866 | €1,596 | +€730 | +84.2% |
| Furniture and vehicles | 24 | €866 | €1,596 | +€730 | +84.2% |
| Financial fixed assets | 28 | €32,715 | €32,715 | = | 0.0% |
| Current assets | 29/58 | €1,473,133 | €1,904,056 | +€430,923 | +29.3% |
| Amounts receivable within one year | 40/41 | €171,050 | €190,595 | +€19,544 | +11.4% |
| Trade receivables | 40 | €104,561 | €121,745 | +€17,184 | +16.4% |
| Other amounts receivable | 41 | €66,489 | €68,850 | +€2,360 | +3.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €1,263,716 | €1,687,178 | +€423,462 | +33.5% |
| Deferred charges and accrued income | 490/1 | €38,367 | €26,284 | -€12,083 | -31.5% |
| Total equity and liabilities | 10/49 | €1,506,714 | €1,938,367 | +€431,653 | +28.6% |
| Equity | 10/15 | €123,596 | €141,045 | +€17,449 | +14.1% |
| Contributions | 10/11 | €86,800 | €99,200 | +€12,400 | +14.3% |
| Reserves | 13 | €7,713 | €7,713 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €7,713 | €7,713 | = | 0.0% |
| Profit (loss) carried forward | 14 | €29,083 | €34,132 | +€5,049 | +17.4% |
| Amounts payable | 17/49 | €1,383,119 | €1,797,322 | +€414,203 | +29.9% |
| Amounts payable within one year | 42/48 | €1,333,119 | €1,584,822 | +€251,703 | +18.9% |
| Trade debts | 44 | €371,869 | €624,135 | +€252,265 | +67.8% |
| Suppliers | 440/4 | €371,869 | €624,135 | +€252,265 | +67.8% |
| Other amounts payable | 47/48 | €961,249 | €960,687 | -€562 | -0.1% |
| Accrued charges and deferred income | 492/3 | €50,000 | €212,500 | +€162,500 | +325.0% |
| Remuneration, social security and pensions | 62 | €345,795 | €354,258 | +€8,462 | +2.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €856 | €649 | -€207 | -24.1% |
| Other operating charges | 640/8 | €1,119 | €9,587 | +€8,468 | +756.8% |
| Gross operating margin | 9900 | €225,861 | €324,245 | +€98,383 | +43.6% |
| Operating profit (loss) | 9901 | -€121,909 | -€40,250 | +€81,659 | +67.0% |
| Financial income | 75/76B | €127,091 | €57,897 | -€69,194 | -54.4% |
| Recurring financial income | 75 | €127,091 | €57,897 | -€69,194 | -54.4% |
| Financial charges | 65/66B | €2,193 | €1,023 | -€1,170 | -53.3% |
| Recurring financial charges | 65 | €2,193 | €1,023 | -€1,170 | -53.3% |
| Profit (loss) for the period before taxes | 9903 | €2,988 | €16,624 | +€13,635 | +456.3% |
| Income taxes | 67/77 | €12,051 | €11,574 | -€477 | -4.0% |
| Profit (loss) for the period | 9904 | -€9,063 | €5,049 | +€14,112 | |
| Profit (loss) for the period to be appropriated | 9905 | -€9,063 | €5,049 | +€14,112 |
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.