Largo Ventures: 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.
Largo Ventures
Largest movements
- Receivables within one year +€28,568
up €28,568 (+224%), from €12,752 to €41,320
of which Other amounts receivable: +€41,102
- Cash -€10,630
down €10,630 (-20.0%), from €53,177 to €42,547
mainly Contributions, distributions and other (-€32,859) and Receivables within one year (-€28,568)
- Tangible fixed assets -€6,278
down €6,278 (-36.3%), from €17,298 to €11,020
- Intangible fixed assets -€1,649
down €1,649 (-22.7%), from €7,277 to €5,627
- Reserves +€15,896
up €15,896 (+48.4%), from €32,859 to €48,755
- Trade debts -€3,097
down €3,097 (-22.9%), from €13,504 to €10,407
- Other debts -€1,591
no longer reported in 2025 (was €1,591)
- Gross operating margin +€37,421
up €37,421 (+65.3%), from €57,297 to €94,718
- Taxes +€14,515
up €14,515 (+120%), from €12,108 to €26,622
- Financial charges +€5,216
up €5,216 (+142%), from €3,662 to €8,878
- Depreciation +€2,507
up €2,507 (+25.3%), from €9,916 to €12,423
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 | €90,823 | €100,973 | +€10,151 | +11.2% |
| Fixed assets | 21/28 | €24,574 | €16,648 | -€7,927 | -32.3% |
| Intangible fixed assets | 21 | €7,277 | €5,627 | -€1,649 | -22.7% |
| Tangible fixed assets | 22/27 | €17,298 | €11,020 | -€6,278 | -36.3% |
| Furniture and vehicles | 24 | €17,298 | €11,020 | -€6,278 | -36.3% |
| Current assets | 29/58 | €66,248 | €84,326 | +€18,077 | +27.3% |
| Amounts receivable within one year | 40/41 | €12,752 | €41,320 | +€28,568 | +224% |
| Trade receivables | 40 | €12,752 | €218 | -€12,534 | -98.3% |
| Other amounts receivable | 41 | - | €41,102 | +€41,102 | |
| Cash at bank and in hand | 54/58 | €53,177 | €42,547 | -€10,630 | -20.0% |
| Deferred charges and accrued income | 490/1 | €319 | €459 | +€140 | +43.9% |
| Total equity and liabilities | 10/49 | €90,823 | €100,973 | +€10,151 | +11.2% |
| Equity | 10/15 | €35,859 | €51,755 | +€15,896 | +44.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €32,859 | €48,755 | +€15,896 | +48.4% |
| Distributable reserves | 133 | €32,859 | €48,755 | +€15,896 | +48.4% |
| Amounts payable | 17/49 | €54,964 | €49,218 | -€5,745 | -10.5% |
| Amounts payable within one year | 42/48 | €54,659 | €49,218 | -€5,441 | -10.0% |
| Trade debts | 44 | €13,504 | €10,407 | -€3,097 | -22.9% |
| Suppliers | 440/4 | €13,504 | €10,407 | -€3,097 | -22.9% |
| Taxes, remuneration and social security | 45 | €39,563 | €38,811 | -€752 | -1.9% |
| Taxes | 450/3 | €37,413 | €38,811 | +€1,398 | +3.7% |
| Remuneration and social security | 454/9 | €2,150 | - | -€2,150 | |
| Other amounts payable | 47/48 | €1,591 | - | -€1,591 | |
| Accrued charges and deferred income | 492/3 | €305 | €1 | -€305 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,916 | €12,423 | +€2,507 | +25.3% |
| Other operating charges | 640/8 | €1,808 | €1,423 | -€385 | -21.3% |
| Non-recurring operating charges | 66A | €312 | - | -€312 | |
| Gross operating margin | 9900 | €57,297 | €94,718 | +€37,421 | +65.3% |
| Operating profit (loss) | 9901 | €45,261 | €80,872 | +€35,611 | +78.7% |
| Financial income | 75/76B | €3,367 | €3,383 | +€16 | +0.5% |
| Recurring financial income | 75 | €3,367 | €3,383 | +€16 | +0.5% |
| Financial charges | 65/66B | €3,662 | €8,878 | +€5,216 | +142% |
| Recurring financial charges | 65 | €3,662 | €8,878 | +€5,216 | +142% |
| Profit (loss) for the period before taxes | 9903 | €44,967 | €75,377 | +€30,411 | +67.6% |
| Income taxes | 67/77 | €12,108 | €26,622 | +€14,515 | +120% |
| Profit (loss) for the period | 9904 | €32,859 | €48,755 | +€15,896 | +48.4% |
| Profit (loss) for the period to be appropriated | 9905 | €32,859 | €48,755 | +€15,896 | +48.4% |
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 18 October 2026 via checked.be.