IMMALVAIN: 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.
IMMALVAIN
Largest movements
- Tangible fixed assets -€55,161
down €55,161 (-1.5%), from €3.7m to €3.6m
- Other debts -€121,313
down €121,313 (-4.1%), from €2.9m to €2.8m
- Profit (loss) carried forward +€68,764
up €68,764 (+9.3%), from €739,760 to €808,524
- Financial charges -€33,145
down €33,145 (-24.1%), from €137,444 to €104,299
- Depreciation -€24,101
down €24,101 (-30.4%), from €79,261 to €55,160
- Taxes +€15,874
up €15,874 (+225%), from €7,045 to €22,919
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,759,482 | €3,717,987 | -€41,495 | -1.1% |
| Fixed assets | 21/28 | €3,679,443 | €3,624,282 | -€55,161 | -1.5% |
| Tangible fixed assets | 22/27 | €3,679,443 | €3,624,282 | -€55,161 | -1.5% |
| Land and buildings | 22 | €3,679,443 | €3,624,282 | -€55,161 | -1.5% |
| Current assets | 29/58 | €80,039 | €93,705 | +€13,666 | +17.1% |
| Amounts receivable within one year | 40/41 | €80,039 | €93,705 | +€13,666 | +17.1% |
| Trade receivables | 40 | €80,001 | €93,501 | +€13,500 | +16.9% |
| Other amounts receivable | 41 | €38 | €204 | +€166 | +437% |
| Total equity and liabilities | 10/49 | €3,759,482 | €3,717,987 | -€41,495 | -1.1% |
| Equity | 10/15 | €807,410 | €876,174 | +€68,764 | +8.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €739,760 | €808,524 | +€68,764 | +9.3% |
| Amounts payable | 17/49 | €2,952,072 | €2,841,813 | -€110,259 | -3.7% |
| Amounts payable within one year | 42/48 | €2,944,461 | €2,834,018 | -€110,443 | -3.8% |
| Trade debts | 44 | €3,400 | €1,882 | -€1,518 | -44.6% |
| Suppliers | 440/4 | €3,400 | €1,882 | -€1,518 | -44.6% |
| Taxes, remuneration and social security | 45 | €10,533 | €22,921 | +€12,388 | +118% |
| Taxes | 450/3 | €10,533 | €22,921 | +€12,388 | +118% |
| Other amounts payable | 47/48 | €2,930,528 | €2,809,215 | -€121,313 | -4.1% |
| Accrued charges and deferred income | 492/3 | €7,611 | €7,795 | +€184 | +2.4% |
| Turnover | 70 | €464,683 | €464,683 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €6,834 | €7,530 | +€696 | +10.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,261 | €55,160 | -€24,101 | -30.4% |
| Other operating charges | 640/8 | €202,502 | €206,012 | +€3,510 | +1.7% |
| Gross operating margin | 9900 | €457,850 | €457,154 | -€696 | -0.2% |
| Operating profit (loss) | 9901 | €176,087 | €195,982 | +€19,895 | +11.3% |
| Financial charges | 65/66B | €137,444 | €104,299 | -€33,145 | -24.1% |
| Recurring financial charges | 65 | €137,444 | €104,299 | -€33,145 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €38,643 | €91,683 | +€53,040 | +137% |
| Income taxes | 67/77 | €7,045 | €22,919 | +€15,874 | +225% |
| Profit (loss) for the period | 9904 | €31,598 | €68,764 | +€37,166 | +118% |
| Profit (loss) for the period to be appropriated | 9905 | €31,598 | €68,764 | +€37,166 | +118% |
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 15 October 2026 via checked.be.