DR. LEVECKE: 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.
DR. LEVECKE
Largest movements
- Cash +€88,435
up €88,435 (+112.4%), from €78,691 to €167,126
mainly Net result for the year (+€104,239) and Depreciation (+€14,823)
- Receivables within one year +€36,463
new in 2025: €36,463
of which Other amounts receivable: +€35,195
- Tangible fixed assets -€14,823
down €14,823 (-6.9%), from €216,190 to €201,367
of which Land and buildings: -€10,956
- Current investments +€14,814
up €14,814 (+2.9%), from €504,384 to €519,197
- Receivables after one year -€14,776
no longer reported in 2025 (was €14,776)
of which Other amounts receivable: -€12,728
- Reserves +€104,239
up €104,239 (+13.1%), from €796,424 to €900,663
- Tax, wage and social debts +€9,483
up €9,483 (+1007.5%), from €941 to €10,424
- Turnover -€245,492
no longer reported in 2025 (was €245,492)
- Purchases and services -€96,330
no longer reported in 2025 (was €96,330)
- Gross operating margin +€10,537
up €10,537 (+6.8%), from €154,260 to €164,797
- Financial charges +€10,119
up €10,119 (+8775.9%), from €115 to €10,234
- Depreciation -€4,431
down €4,431 (-23.0%), from €19,254 to €14,823
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 | €814,041 | €924,154 | +€110,114 | +13.5% |
| Fixed assets | 21/28 | €216,190 | €201,367 | -€14,823 | -6.9% |
| Tangible fixed assets | 22/27 | €216,190 | €201,367 | -€14,823 | -6.9% |
| Land and buildings | 22 | €205,817 | €194,861 | -€10,956 | -5.3% |
| Plant, machinery and equipment | 23 | €10,373 | €6,506 | -€3,867 | -37.3% |
| Current assets | 29/58 | €597,850 | €722,787 | +€124,937 | +20.9% |
| Amounts receivable after more than one year | 29 | €14,776 | - | -€14,776 | |
| Trade receivables | 290 | €2,048 | - | -€2,048 | |
| Other amounts receivable | 291 | €12,728 | - | -€12,728 | |
| Amounts receivable within one year | 40/41 | - | €36,463 | +€36,463 | |
| Trade receivables | 40 | - | €1,269 | +€1,269 | |
| Other amounts receivable | 41 | - | €35,195 | +€35,195 | |
| Current investments | 50/53 | €504,384 | €519,197 | +€14,814 | +2.9% |
| Cash at bank and in hand | 54/58 | €78,691 | €167,126 | +€88,435 | +112.4% |
| Total equity and liabilities | 10/49 | €814,041 | €924,154 | +€110,114 | +13.5% |
| Equity | 10/15 | €808,824 | €913,063 | +€104,239 | +12.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | - | -€12,400 | |
| Issued capital | 100 | €18,550 | - | -€18,550 | |
| Uncalled capital | 101 | €6,150 | - | -€6,150 | |
| Reserves | 13 | €796,424 | €900,663 | +€104,239 | +13.1% |
| Distributable reserves | 133 | €796,424 | €900,663 | +€104,239 | +13.1% |
| Amounts payable | 17/49 | €5,217 | €11,091 | +€5,874 | +112.6% |
| Amounts payable within one year | 42/48 | €5,217 | €11,091 | +€5,874 | +112.6% |
| Trade debts | 44 | €4,276 | €667 | -€3,609 | -84.4% |
| Suppliers | 440/4 | €4,276 | €667 | -€3,609 | -84.4% |
| Taxes, remuneration and social security | 45 | €941 | €10,424 | +€9,483 | +1007.5% |
| Taxes | 450/3 | €941 | €10,424 | +€9,483 | +1007.5% |
| Turnover | 70 | €245,492 | - | -€245,492 | |
| Goods, raw materials, services and sundry goods | 60/61 | €96,330 | - | -€96,330 | |
| Remuneration, social security and pensions | 62 | €646 | €0 | -€646 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,254 | €14,823 | -€4,431 | -23.0% |
| Other operating charges | 640/8 | €3,213 | €3,943 | +€729 | +22.7% |
| Gross operating margin | 9900 | €154,260 | €164,797 | +€10,537 | +6.8% |
| Operating profit (loss) | 9901 | €131,147 | €146,031 | +€14,884 | +11.3% |
| Financial income | 75/76B | €8,621 | €12,406 | +€3,786 | +43.9% |
| Recurring financial income | 75 | €8,621 | €12,406 | +€3,786 | +43.9% |
| Financial charges | 65/66B | €115 | €10,234 | +€10,119 | +8775.9% |
| Recurring financial charges | 65 | €115 | €10,234 | +€10,119 | +8775.9% |
| Profit (loss) for the period before taxes | 9903 | €139,652 | €148,204 | +€8,551 | +6.1% |
| Income taxes | 67/77 | €46,336 | €43,964 | -€2,372 | -5.1% |
| Profit (loss) for the period | 9904 | €93,316 | €104,239 | +€10,923 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €93,316 | €104,239 | +€10,923 | +11.7% |
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 11 October 2026 via checked.be.