L VAN: 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.
L VAN
Largest movements
- Tangible fixed assets +€5,322
up €5,322 (+2.7%), from €197,393 to €202,715
of which Land and buildings: +€5,287
- Reserves +€22,557
up €22,557 (+16.0%), from €141,186 to €163,743
- Debts after one year -€20,222
down €20,222 (-17.8%), from €113,430 to €93,208
- Gross operating margin -€9,480
down €9,480 (-15.2%), from €62,500 to €53,020
- Taxes -€1,934
down €1,934 (-11.9%), from €16,293 to €14,359
- Financial charges -€1,909
down €1,909 (-32.9%), from €5,804 to €3,895
- Staff costs +€901
up €901 (+73.3%), from €1,228 to €2,129
- Depreciation +€718
up €718 (+9.2%), from €7,808 to €8,526
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 | €292,943 | €298,000 | +€5,057 | +1.7% |
| Fixed assets | 21/28 | €197,393 | €202,715 | +€5,322 | +2.7% |
| Tangible fixed assets | 22/27 | €197,393 | €202,715 | +€5,322 | +2.7% |
| Land and buildings | 22 | €190,585 | €195,872 | +€5,287 | +2.8% |
| Plant, machinery and equipment | 23 | €2,023 | €1,355 | -€668 | -33.0% |
| Furniture and vehicles | 24 | €4,785 | €5,488 | +€703 | +14.7% |
| Current assets | 29/58 | €95,550 | €95,284 | -€266 | -0.3% |
| Amounts receivable within one year | 40/41 | €72,666 | €73,866 | +€1,200 | +1.7% |
| Trade receivables | 40 | €72,666 | €73,866 | +€1,200 | +1.7% |
| Cash at bank and in hand | 54/58 | €22,884 | €21,419 | -€1,465 | -6.4% |
| Total equity and liabilities | 10/49 | €292,943 | €298,000 | +€5,057 | +1.7% |
| Equity | 10/15 | €143,686 | €166,243 | +€22,557 | +15.7% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €141,186 | €163,743 | +€22,557 | +16.0% |
| Distributable reserves | 133 | €141,186 | €163,743 | +€22,557 | +16.0% |
| Amounts payable | 17/49 | €149,257 | €131,756 | -€17,501 | -11.7% |
| Amounts payable after more than one year | 17 | €113,430 | €93,208 | -€20,222 | -17.8% |
| Financial debts | 170/4 | €113,430 | €93,208 | -€20,222 | -17.8% |
| Amounts payable within one year | 42/48 | €35,827 | €38,548 | +€2,721 | +7.6% |
| Current portion of amounts payable after more than one year | 42 | €19,672 | €20,222 | +€550 | +2.8% |
| Trade debts | 44 | €2,655 | €3,275 | +€620 | +23.3% |
| Suppliers | 440/4 | €2,655 | €3,275 | +€620 | +23.3% |
| Taxes, remuneration and social security | 45 | €13,412 | €15,052 | +€1,640 | +12.2% |
| Taxes | 450/3 | €13,412 | €15,052 | +€1,640 | +12.2% |
| Other amounts payable | 47/48 | €88 | - | -€88 | |
| Remuneration, social security and pensions | 62 | €1,228 | €2,129 | +€901 | +73.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,808 | €8,526 | +€718 | +9.2% |
| Other operating charges | 640/8 | €1,634 | €1,634 | +€0 | 0.0% |
| Gross operating margin | 9900 | €62,500 | €53,020 | -€9,480 | -15.2% |
| Operating profit (loss) | 9901 | €51,830 | €40,731 | -€11,099 | -21.4% |
| Financial income | 75/76B | €17 | €81 | +€64 | +375% |
| Recurring financial income | 75 | €17 | €81 | +€64 | +375% |
| Financial charges | 65/66B | €5,804 | €3,895 | -€1,909 | -32.9% |
| Recurring financial charges | 65 | €5,804 | €3,895 | -€1,909 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €46,043 | €36,917 | -€9,126 | -19.8% |
| Income taxes | 67/77 | €16,293 | €14,359 | -€1,934 | -11.9% |
| Profit (loss) for the period | 9904 | €29,750 | €22,557 | -€7,193 | -24.2% |
| Profit (loss) for the period to be appropriated | 9905 | €29,750 | €22,557 | -€7,193 | -24.2% |
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 30 October 2026 via checked.be.