IMMEXCO: 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.
IMMEXCO
Largest movements
- Receivables within one year +€59,888
up €59,888 (+28.1%), from €212,940 to €272,828
of which Other amounts receivable: +€75,807
- Reserves +€77,814
up €77,814 (+34.0%), from €228,861 to €306,675
of which Distributable reserves: +€77,814
- Trade debts -€27,623
down €27,623 (-35.1%), from €78,709 to €51,085
- Tax, wage and social debts +€12,927
up €12,927 (+18.8%), from €68,581 to €81,509
of which Taxes: +€20,436
- Debts after one year -€12,807
down €12,807 (-11.6%), from €110,724 to €97,918
- Gross operating margin +€72,103
up €72,103 (+29.9%), from €241,006 to €313,110
- Taxes +€27,623
up €27,623 (+131%), from €21,008 to €48,630
- Depreciation +€8,143
up €8,143 (+32.0%), from €25,430 to €33,573
- Staff costs -€6,436
down €6,436 (-4.3%), from €148,301 to €141,865
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 | €536,986 | €590,572 | +€53,586 | +10.0% |
| Fixed assets | 21/28 | €295,288 | €294,530 | -€758 | -0.3% |
| Tangible fixed assets | 22/27 | €294,558 | €293,800 | -€758 | -0.3% |
| Land and buildings | 22 | €253,201 | €248,858 | -€4,343 | -1.7% |
| Plant, machinery and equipment | 23 | €6,334 | €4,194 | -€2,140 | -33.8% |
| Furniture and vehicles | 24 | €35,024 | €40,748 | +€5,724 | +16.3% |
| Financial fixed assets | 28 | €730 | €730 | = | 0.0% |
| Current assets | 29/58 | €241,697 | €296,042 | +€54,345 | +22.5% |
| Amounts receivable within one year | 40/41 | €212,940 | €272,828 | +€59,888 | +28.1% |
| Trade receivables | 40 | €115,691 | €99,771 | -€15,919 | -13.8% |
| Other amounts receivable | 41 | €97,249 | €173,056 | +€75,807 | +78.0% |
| Cash at bank and in hand | 54/58 | €24,537 | €22,383 | -€2,153 | -8.8% |
| Deferred charges and accrued income | 490/1 | €4,221 | €831 | -€3,390 | -80.3% |
| Total equity and liabilities | 10/49 | €536,986 | €590,572 | +€53,586 | +10.0% |
| Equity | 10/15 | €261,608 | €339,422 | +€77,814 | +29.7% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €228,861 | €306,675 | +€77,814 | +34.0% |
| 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 | €227,001 | €304,815 | +€77,814 | +34.3% |
| Profit (loss) carried forward | 14 | €26,547 | €26,547 | = | 0.0% |
| Amounts payable | 17/49 | €275,378 | €251,150 | -€24,228 | -8.8% |
| Amounts payable after more than one year | 17 | €110,724 | €97,918 | -€12,807 | -11.6% |
| Financial debts | 170/4 | €110,724 | €97,918 | -€12,807 | -11.6% |
| Amounts payable within one year | 42/48 | €164,654 | €153,232 | -€11,421 | -6.9% |
| Current portion of amounts payable after more than one year | 42 | €17,363 | €20,638 | +€3,274 | +18.9% |
| Trade debts | 44 | €78,709 | €51,085 | -€27,623 | -35.1% |
| Suppliers | 440/4 | €78,709 | €51,085 | -€27,623 | -35.1% |
| Taxes, remuneration and social security | 45 | €68,581 | €81,509 | +€12,927 | +18.8% |
| Taxes | 450/3 | €50,063 | €70,499 | +€20,436 | +40.8% |
| Remuneration and social security | 454/9 | €18,519 | €11,010 | -€7,509 | -40.5% |
| Non-recurring operating income | 76A | €4,203 | €0 | -€4,203 | -100% |
| Remuneration, social security and pensions | 62 | €148,301 | €141,865 | -€6,436 | -4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,430 | €33,573 | +€8,143 | +32.0% |
| Other operating charges | 640/8 | €8,967 | €7,059 | -€1,908 | -21.3% |
| Gross operating margin | 9900 | €241,006 | €313,110 | +€72,103 | +29.9% |
| Operating profit (loss) | 9901 | €58,308 | €130,613 | +€72,305 | +124% |
| Financial income | 75/76B | €4,077 | €5,301 | +€1,225 | +30.0% |
| Recurring financial income | 75 | €4,077 | €5,301 | +€1,225 | +30.0% |
| Financial charges | 65/66B | €9,543 | €9,470 | -€73 | -0.8% |
| Recurring financial charges | 65 | €9,543 | €9,470 | -€73 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | €52,842 | €126,445 | +€73,602 | +139% |
| Income taxes | 67/77 | €21,008 | €48,630 | +€27,623 | +131% |
| Profit (loss) for the period | 9904 | €31,835 | €77,814 | +€45,980 | +144% |
| Profit (loss) for the period to be appropriated | 9905 | €31,835 | €77,814 | +€45,980 | +144% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.