LAIVAPHAR: 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.
LAIVAPHAR
Largest movements
- Tangible fixed assets -€22,201
down €22,201 (-9.4%), from €236,937 to €214,737
of which Land and buildings: -€22,238
- Cash +€18,202
up €18,202 (+63.1%), from €28,834 to €47,036
mainly Net result for the year (+€43,146) and Depreciation (+€26,674)
- Profit (loss) carried forward +€43,146
up €43,146 (+19.1%), from €226,434 to €269,580
- Trade debts -€33,051
down €33,051 (-68.7%), from €48,125 to €15,073
- Debts after one year -€24,848
down €24,848 (-12.4%), from €199,747 to €174,899
- Tax, wage and social debts +€15,082
up €15,082 (+100.3%), from €15,037 to €30,120
- Accrued charges and deferred income -€14,980
down €14,980 (-33.6%), from €44,559 to €29,579
- Financial charges -€5,996
down €5,996 (-35.4%), from €16,947 to €10,952
- Depreciation +€2,166
up €2,166 (+8.8%), from €24,508 to €26,674
- Gross operating margin -€1,802
down €1,802 (-1.8%), from €102,944 to €101,142
- Financial income -€1,370
down €1,370 (-91.7%), from €1,494 to €125
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 | €683,367 | €679,253 | -€4,114 | -0.6% |
| Fixed assets | 21/28 | €236,937 | €214,737 | -€22,201 | -9.4% |
| Tangible fixed assets | 22/27 | €236,937 | €214,737 | -€22,201 | -9.4% |
| Land and buildings | 22 | €227,403 | €205,165 | -€22,238 | -9.8% |
| Plant, machinery and equipment | 23 | €4,148 | €3,159 | -€989 | -23.8% |
| Furniture and vehicles | 24 | €5,387 | €6,413 | +€1,026 | +19.0% |
| Current assets | 29/58 | €446,430 | €464,516 | +€18,086 | +4.1% |
| Stocks and contracts in progress | 3 | €10,190 | €12,564 | +€2,374 | +23.3% |
| Stocks | 30/36 | €10,190 | €12,564 | +€2,374 | +23.3% |
| Amounts receivable within one year | 40/41 | €407,406 | €404,916 | -€2,490 | -0.6% |
| Trade receivables | 40 | €50,206 | €34,385 | -€15,821 | -31.5% |
| Other amounts receivable | 41 | €357,200 | €370,531 | +€13,331 | +3.7% |
| Cash at bank and in hand | 54/58 | €28,834 | €47,036 | +€18,202 | +63.1% |
| Total equity and liabilities | 10/49 | €683,367 | €679,253 | -€4,114 | -0.6% |
| Equity | 10/15 | €335,815 | €378,962 | +€43,146 | +12.8% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €47,408 | €47,408 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €41,211 | €41,211 | = | 0.0% |
| Profit (loss) carried forward | 14 | €226,434 | €269,580 | +€43,146 | +19.1% |
| Amounts payable | 17/49 | €347,551 | €300,291 | -€47,261 | -13.6% |
| Amounts payable after more than one year | 17 | €199,747 | €174,899 | -€24,848 | -12.4% |
| Financial debts | 170/4 | €199,747 | €174,899 | -€24,848 | -12.4% |
| Amounts payable within one year | 42/48 | €103,245 | €95,813 | -€7,432 | -7.2% |
| Current portion of amounts payable after more than one year | 42 | €30,584 | €41,432 | +€10,848 | +35.5% |
| Trade debts | 44 | €48,125 | €15,073 | -€33,051 | -68.7% |
| Suppliers | 440/4 | €48,125 | €15,073 | -€33,051 | -68.7% |
| Taxes, remuneration and social security | 45 | €15,037 | €30,120 | +€15,082 | +100.3% |
| Taxes | 450/3 | €15,037 | €30,120 | +€15,082 | +100.3% |
| Other amounts payable | 47/48 | €9,499 | €9,188 | -€311 | -3.3% |
| Accrued charges and deferred income | 492/3 | €44,559 | €29,579 | -€14,980 | -33.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,508 | €26,674 | +€2,166 | +8.8% |
| Other operating charges | 640/8 | €3,427 | €3,137 | -€290 | -8.5% |
| Gross operating margin | 9900 | €102,944 | €101,142 | -€1,802 | -1.8% |
| Operating profit (loss) | 9901 | €75,008 | €71,331 | -€3,677 | -4.9% |
| Financial income | 75/76B | €1,494 | €125 | -€1,370 | -91.7% |
| Recurring financial income | 75 | €1,494 | €125 | -€1,370 | -91.7% |
| Financial charges | 65/66B | €16,947 | €10,952 | -€5,996 | -35.4% |
| Recurring financial charges | 65 | €16,947 | €10,952 | -€5,996 | -35.4% |
| Profit (loss) for the period before taxes | 9903 | €59,555 | €60,504 | +€948 | +1.6% |
| Income taxes | 67/77 | €17,319 | €17,358 | +€39 | +0.2% |
| Profit (loss) for the period | 9904 | €42,237 | €43,146 | +€909 | +2.2% |
| Profit (loss) for the period to be appropriated | 9905 | €42,237 | €43,146 | +€909 | +2.2% |
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 12 October 2026 via checked.be.