IMMAG LEVA: 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.
IMMAG LEVA
Largest movements
- Cash -€2.8m
down €2.8m (-87.7%), from €3.2m to €393,889
mainly Contributions, distributions and other (-€7.9m) and Investment in fixed assets (net) (-€155,247)
- Receivables after one year -€360,000
no longer reported in 2025 (was €360,000)
- Contributions -€5.4m
down €5.4m (-47.6%), from €11.4m to €6.0m
- Other debts +€4.5m
up €4.5m (+469.6%), from €954,884 to €5.4m
- Reserves -€2.4m
down €2.4m (-43.1%), from €5.5m to €3.1m
of which Distributable reserves: -€2.4m
- Financial income -€1.0m
down €1.0m (-95.2%), from €1.1m to €50,446
- Gross operating margin +€59,612
up €59,612 (+13.3%), from €448,685 to €508,297
- Depreciation +€20,820
up €20,820 (+12.2%), from €171,356 to €192,176
- Taxes +€15,488
up €15,488 (+112.0%), from €13,825 to €29,313
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 | €17,969,426 | €14,643,385 | -€3.3m | -18.5% |
| Fixed assets | 21/28 | €14,219,335 | €14,182,406 | -€36,929 | -0.3% |
| Tangible fixed assets | 22/27 | €2,872,535 | €2,835,606 | -€36,929 | -1.3% |
| Land and buildings | 22 | €2,711,445 | €2,591,405 | -€120,040 | -4.4% |
| Plant, machinery and equipment | 23 | €17,957 | €11,502 | -€6,454 | -35.9% |
| Furniture and vehicles | 24 | €143,133 | €232,699 | +€89,565 | +62.6% |
| Financial fixed assets | 28 | €11,346,800 | €11,346,800 | = | 0.0% |
| Current assets | 29/58 | €3,750,091 | €460,979 | -€3.3m | -87.7% |
| Amounts receivable after more than one year | 29 | €360,000 | - | -€360,000 | |
| Other amounts receivable | 291 | €360,000 | - | -€360,000 | |
| Amounts receivable within one year | 40/41 | €181,733 | €67,089 | -€114,643 | -63.1% |
| Trade receivables | 40 | €9,174 | €62,471 | +€53,297 | +580.9% |
| Other amounts receivable | 41 | €172,558 | €4,618 | -€167,940 | -97.3% |
| Cash at bank and in hand | 54/58 | €3,192,129 | €393,889 | -€2.8m | -87.7% |
| Deferred charges and accrued income | 490/1 | €16,229 | - | -€16,229 | |
| Total equity and liabilities | 10/49 | €17,969,426 | €14,643,385 | -€3.3m | -18.5% |
| Equity | 10/15 | €16,894,647 | €9,097,934 | -€7.8m | -46.1% |
| Contributions | 10/11 | €11,421,169 | €5,983,391 | -€5.4m | -47.6% |
| Capital | 10 | €11,421,169 | €5,983,391 | -€5.4m | -47.6% |
| Issued capital | 100 | €11,421,169 | €5,983,391 | -€5.4m | -47.6% |
| Reserves | 13 | €5,473,478 | €3,114,544 | -€2.4m | -43.1% |
| Non-distributable reserves | 130/1 | €1,142,117 | €1,142,117 | = | 0.0% |
| Legal reserve | 130 | €1,142,117 | €1,142,117 | = | 0.0% |
| Distributable reserves | 133 | €4,331,361 | €1,972,427 | -€2.4m | -54.5% |
| Amounts payable | 17/49 | €1,074,780 | €5,545,451 | +€4.5m | +416.0% |
| Amounts payable within one year | 42/48 | €1,074,780 | €5,545,451 | +€4.5m | +416.0% |
| Trade debts | 44 | €52,268 | €28,755 | -€23,513 | -45.0% |
| Suppliers | 440/4 | €52,268 | €28,755 | -€23,513 | -45.0% |
| Taxes, remuneration and social security | 45 | €67,628 | €77,957 | +€10,329 | +15.3% |
| Taxes | 450/3 | €38,127 | €47,651 | +€9,525 | +25.0% |
| Remuneration and social security | 454/9 | €29,501 | €30,306 | +€805 | +2.7% |
| Other amounts payable | 47/48 | €954,884 | €5,438,739 | +€4.5m | +469.6% |
| Remuneration, social security and pensions | 62 | €253,455 | €254,695 | +€1,240 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171,356 | €192,176 | +€20,820 | +12.2% |
| Other operating charges | 640/8 | €17,947 | €21,285 | +€3,337 | +18.6% |
| Gross operating margin | 9900 | €448,685 | €508,297 | +€59,612 | +13.3% |
| Operating profit (loss) | 9901 | €5,927 | €40,141 | +€34,215 | +577.3% |
| Financial income | 75/76B | €1,055,242 | €50,446 | -€1.0m | -95.2% |
| Recurring financial income | 75 | €1,055,242 | €50,446 | -€1.0m | -95.2% |
| Financial charges | 65/66B | €317 | €844 | +€527 | +166.1% |
| Recurring financial charges | 65 | €317 | €844 | +€527 | +166.1% |
| Profit (loss) for the period before taxes | 9903 | €1,060,852 | €89,743 | -€971,108 | -91.5% |
| Income taxes | 67/77 | €13,825 | €29,313 | +€15,488 | +112.0% |
| Profit (loss) for the period | 9904 | €1,047,027 | €60,430 | -€986,597 | -94.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,047,027 | €60,430 | -€986,597 | -94.2% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.