LA*VAT: what changed
Two fiscal 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.
LA*VAT
Largest movements
- Cash +€143,746
up €143,746 (+50.9%), from €282,607 to €426,352
mainly Net result for the year (+€135,822) and Receivables within one year (+€34,862)
- Receivables within one year -€34,862
down €34,862 (-44.9%), from €77,557 to €42,695
of which Trade receivables: -€64,738
- Tangible fixed assets -€11,683
down €11,683 (-23.1%), from €50,655 to €38,972
of which Furniture and vehicles: -€12,638
- Reserves +€92,822
up €92,822 (+18.6%), from €499,471 to €592,293
- Financial income -€39,018
down €39,018 (-92.2%), from €42,317 to €3,300
of which Financial income: -€23,214
- Gross operating margin +€22,489
up €22,489 (+12.3%), from €182,220 to €204,709
- Taxes -€6,667
down €6,667 (-10.3%), from €64,888 to €58,220
- Depreciation +€2,484
up €2,484 (+24.4%), from €10,165 to €12,649
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 | €547,854 | €645,216 | +€97,361 | +17.8% |
| Fixed assets | 21/28 | €50,655 | €38,972 | -€11,683 | -23.1% |
| Tangible fixed assets | 22/27 | €50,655 | €38,972 | -€11,683 | -23.1% |
| Plant, machinery and equipment | 23 | - | €956 | +€956 | |
| Furniture and vehicles | 24 | €50,655 | €38,016 | -€12,638 | -25.0% |
| Current assets | 29/58 | €497,200 | €606,244 | +€109,044 | +21.9% |
| Amounts receivable after more than one year | 29 | €136,000 | €136,000 | = | 0.0% |
| Other amounts receivable | 291 | €136,000 | €136,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €77,557 | €42,695 | -€34,862 | -44.9% |
| Trade receivables | 40 | €64,973 | €235 | -€64,738 | -99.6% |
| Other amounts receivable | 41 | €12,583 | €42,460 | +€29,877 | +237.4% |
| Cash at bank and in hand | 54/58 | €282,607 | €426,352 | +€143,746 | +50.9% |
| Deferred charges and accrued income | 490/1 | €1,036 | €1,197 | +€160 | +15.5% |
| Total equity and liabilities | 10/49 | €547,854 | €645,216 | +€97,361 | +17.8% |
| Equity | 10/15 | €511,871 | €604,693 | +€92,822 | +18.1% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €499,471 | €592,293 | +€92,822 | +18.6% |
| Distributable reserves | 133 | €499,471 | €592,293 | +€92,822 | +18.6% |
| Amounts payable | 17/49 | €35,983 | €40,522 | +€4,539 | +12.6% |
| Amounts payable within one year | 42/48 | €35,983 | €40,522 | +€4,539 | +12.6% |
| Trade debts | 44 | €5,494 | €6,685 | +€1,190 | +21.7% |
| Suppliers | 440/4 | €5,494 | €6,685 | +€1,190 | +21.7% |
| Taxes, remuneration and social security | 45 | €30,489 | €33,838 | +€3,349 | +11.0% |
| Taxes | 450/3 | €30,489 | €33,838 | +€3,349 | +11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,165 | €12,649 | +€2,484 | +24.4% |
| Other operating charges | 640/8 | €949 | €1,244 | +€295 | +31.1% |
| Gross operating margin | 9900 | €182,220 | €204,709 | +€22,489 | +12.3% |
| Operating profit (loss) | 9901 | €171,107 | €190,817 | +€19,710 | +11.5% |
| Financial income | 75/76B | €42,317 | €3,300 | -€39,018 | -92.2% |
| Recurring financial income | 75 | €26,513 | €3,300 | -€23,214 | -87.6% |
| Non-recurring financial income | 76B | €15,804 | - | -€15,804 | |
| Financial charges | 65/66B | €84 | €74 | -€10 | -12.3% |
| Recurring financial charges | 65 | €84 | €74 | -€10 | -12.3% |
| Profit (loss) for the period before taxes | 9903 | €213,340 | €194,043 | -€19,298 | -9.0% |
| Income taxes | 67/77 | €64,888 | €58,220 | -€6,667 | -10.3% |
| Profit (loss) for the period | 9904 | €148,453 | €135,822 | -€12,630 | -8.5% |
| Profit (loss) for the period to be appropriated | 9905 | €148,453 | €135,822 | -€12,630 | -8.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.