BRECHT LAVAERT: 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.
BRECHT LAVAERT
Largest movements
- Deferred charges and accrued income +€1.0m
up €1.0m (+75,065%), from €1,339 to €1.0m
- Tangible fixed assets +€711,309
up €711,309 (+53.0%), from €1.3m to €2.1m
of which Land and buildings: +€604,216
- Other debts +€896,919
up €896,919 (+180%), from €499,507 to €1.4m
- Debts after one year +€397,414
up €397,414 (+90.0%), from €441,727 to €839,142
- Reserves +€245,000
up €245,000 (+68.8%), from €355,860 to €600,860
- Tax, wage and social debts +€129,178
up €129,178 (+5,806%), from €2,225 to €131,403
- Current portion of long-term debt +€42,599
up €42,599 (+80.6%), from €52,826 to €95,425
- Financial income +€625,807
up €625,807 (+2,906,673%), from €22 to €625,828
of which Non-recurring financial income: +€625,801
- Depreciation +€173,330
up €173,330 (+194%), from €89,540 to €262,870
- Gross operating margin -€131,648
down €131,648 (-80.0%), from €164,606 to €32,958
- Taxes +€107,886
up €107,886 (+657%), from €16,419 to €124,306
- Other operating charges +€3,698
up €3,698 (+86.0%), from €4,302 to €8,000
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 | €1,383,828 | €3,108,409 | +€1.7m | +125% |
| Fixed assets | 21/28 | €1,343,334 | €2,054,644 | +€711,309 | +53.0% |
| Tangible fixed assets | 22/27 | €1,343,334 | €2,054,644 | +€711,309 | +53.0% |
| Land and buildings | 22 | €922,214 | €1,526,430 | +€604,216 | +65.5% |
| Plant, machinery and equipment | 23 | €1,393 | €54,774 | +€53,380 | +3,831% |
| Furniture and vehicles | 24 | €314,727 | €374,440 | +€59,713 | +19.0% |
| Leasing and similar rights | 25 | €105,000 | €99,000 | -€6,000 | -5.7% |
| Current assets | 29/58 | €40,494 | €1,053,765 | +€1.0m | +2,502% |
| Amounts receivable within one year | 40/41 | €34,706 | €44,260 | +€9,554 | +27.5% |
| Trade receivables | 40 | €29,545 | €25,753 | -€3,792 | -12.8% |
| Other amounts receivable | 41 | €5,161 | €18,507 | +€13,346 | +259% |
| Cash at bank and in hand | 54/58 | €4,450 | €3,418 | -€1,031 | -23.2% |
| Deferred charges and accrued income | 490/1 | €1,339 | €1,006,087 | +€1.0m | +75,065% |
| Total equity and liabilities | 10/49 | €1,383,828 | €3,108,409 | +€1.7m | +125% |
| Equity | 10/15 | €380,162 | €625,665 | +€245,503 | +64.6% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €355,860 | €600,860 | +€245,000 | +68.8% |
| Distributable reserves | 133 | €355,860 | €600,860 | +€245,000 | +68.8% |
| Profit (loss) carried forward | 14 | €11,902 | €12,405 | +€503 | +4.2% |
| Amounts payable | 17/49 | €1,003,667 | €2,482,744 | +€1.5m | +147% |
| Amounts payable after more than one year | 17 | €441,727 | €839,142 | +€397,414 | +90.0% |
| Financial debts | 170/4 | €441,727 | €839,142 | +€397,414 | +90.0% |
| Amounts payable within one year | 42/48 | €560,810 | €1,643,603 | +€1.1m | +193% |
| Current portion of amounts payable after more than one year | 42 | €52,826 | €95,425 | +€42,599 | +80.6% |
| Trade debts | 44 | €6,252 | €20,349 | +€14,097 | +225% |
| Suppliers | 440/4 | €6,252 | €20,349 | +€14,097 | +225% |
| Taxes, remuneration and social security | 45 | €2,225 | €131,403 | +€129,178 | +5,806% |
| Taxes | 450/3 | €2,225 | €131,403 | +€129,178 | +5,806% |
| Other amounts payable | 47/48 | €499,507 | €1,396,426 | +€896,919 | +180% |
| Accrued charges and deferred income | 492/3 | €1,130 | - | -€1,130 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €89,540 | €262,870 | +€173,330 | +194% |
| Other operating charges | 640/8 | €4,302 | €8,000 | +€3,698 | +86.0% |
| Gross operating margin | 9900 | €164,606 | €32,958 | -€131,648 | -80.0% |
| Operating profit (loss) | 9901 | €70,764 | -€237,912 | -€308,676 | |
| Financial income | 75/76B | €22 | €625,828 | +€625,807 | +2,906,673% |
| Recurring financial income | 75 | €22 | €27 | +€6 | +25.8% |
| Non-recurring financial income | 76B | - | €625,801 | +€625,801 | |
| Financial charges | 65/66B | €20,694 | €18,108 | -€2,586 | -12.5% |
| Recurring financial charges | 65 | €20,694 | €18,108 | -€2,586 | -12.5% |
| Profit (loss) for the period before taxes | 9903 | €50,091 | €369,808 | +€319,717 | +638% |
| Income taxes | 67/77 | €16,419 | €124,306 | +€107,886 | +657% |
| Profit (loss) for the period | 9904 | €33,672 | €245,503 | +€211,831 | +629% |
| Profit (loss) for the period to be appropriated | 9905 | €33,672 | €245,503 | +€211,831 | +629% |
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 26 October 2026 via checked.be.