LARVANO: 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.
LARVANO
Largest movements
- Receivables within one year -€19,781
down €19,781 (-17.0%), from €116,408 to €96,627
of which Other amounts receivable: -€14,508
- Cash +€17,560
up €17,560 (+25.4%), from €69,006 to €86,566
mainly Receivables within one year (+€19,781) and Depreciation (+€16,070)
- Tangible fixed assets -€2,832
down €2,832 (-2.9%), from €96,182 to €93,350
of which Plant, machinery and equipment: -€1,504
- Trade debts +€11,283
up €11,283 (+56.7%), from €19,905 to €31,189
- Debts after one year -€10,070
down €10,070 (-6.8%), from €148,480 to €138,411
- Tax, wage and social debts -€6,421
down €6,421 (-13.8%), from €46,367 to €39,947
of which Taxes: -€7,160
- Reserves +€4,205
up €4,205 (+65.0%), from €6,469 to €10,674
of which Distributable reserves: +€4,205
- Current portion of long-term debt -€3,559
down €3,559 (-26.1%), from €13,628 to €10,070
- Staff costs +€4,269
up €4,269 (+2.9%), from €149,075 to €153,343
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 | €282,469 | €277,880 | -€4,589 | -1.6% |
| Fixed assets | 21/28 | €96,182 | €93,350 | -€2,832 | -2.9% |
| Tangible fixed assets | 22/27 | €96,182 | €93,350 | -€2,832 | -2.9% |
| Land and buildings | 22 | €87,606 | €87,409 | -€197 | -0.2% |
| Plant, machinery and equipment | 23 | €5,137 | €3,633 | -€1,504 | -29.3% |
| Furniture and vehicles | 24 | €3,439 | €2,308 | -€1,131 | -32.9% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €186,287 | €184,530 | -€1,756 | -0.9% |
| Amounts receivable within one year | 40/41 | €116,408 | €96,627 | -€19,781 | -17.0% |
| Trade receivables | 40 | €91,900 | €86,627 | -€5,272 | -5.7% |
| Other amounts receivable | 41 | €24,508 | €10,000 | -€14,508 | -59.2% |
| Cash at bank and in hand | 54/58 | €69,006 | €86,566 | +€17,560 | +25.4% |
| Deferred charges and accrued income | 490/1 | €872 | €1,337 | +€464 | +53.2% |
| Total equity and liabilities | 10/49 | €282,469 | €277,880 | -€4,589 | -1.6% |
| Equity | 10/15 | €36,469 | €40,674 | +€4,205 | +11.5% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €6,469 | €10,674 | +€4,205 | +65.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €1,517 | €1,517 | = | 0.0% |
| Distributable reserves | 133 | €4,952 | €9,157 | +€4,205 | +84.9% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €245,999 | €237,206 | -€8,794 | -3.6% |
| Amounts payable after more than one year | 17 | €148,480 | €138,411 | -€10,070 | -6.8% |
| Financial debts | 170/4 | €148,480 | €138,411 | -€10,070 | -6.8% |
| Amounts payable within one year | 42/48 | €97,519 | €98,795 | +€1,276 | +1.3% |
| Current portion of amounts payable after more than one year | 42 | €13,628 | €10,070 | -€3,559 | -26.1% |
| Financial debts | 43 | €13,994 | €13,967 | -€28 | -0.2% |
| Credit institutions | 430/8 | €13,994 | €13,967 | -€28 | -0.2% |
| Trade debts | 44 | €19,905 | €31,189 | +€11,283 | +56.7% |
| Suppliers | 440/4 | €19,905 | €31,189 | +€11,283 | +56.7% |
| Taxes, remuneration and social security | 45 | €46,367 | €39,947 | -€6,421 | -13.8% |
| Taxes | 450/3 | €16,821 | €9,662 | -€7,160 | -42.6% |
| Remuneration and social security | 454/9 | €29,546 | €30,285 | +€739 | +2.5% |
| Other amounts payable | 47/48 | €3,624 | €3,624 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €153 | +€153 | |
| Remuneration, social security and pensions | 62 | €149,075 | €153,343 | +€4,269 | +2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,910 | €16,070 | +€1,160 | +7.8% |
| Other operating charges | 640/8 | €10,218 | €10,914 | +€696 | +6.8% |
| Non-recurring operating charges | 66A | €7,013 | €0 | -€7,013 | -100% |
| Gross operating margin | 9900 | €191,996 | €193,402 | +€1,406 | +0.7% |
| Operating profit (loss) | 9901 | €10,781 | €13,075 | +€2,295 | +21.3% |
| Financial income | 75/76B | €957 | €755 | -€201 | -21.0% |
| Recurring financial income | 75 | €957 | €755 | -€201 | -21.0% |
| Financial charges | 65/66B | €8,002 | €7,740 | -€263 | -3.3% |
| Recurring financial charges | 65 | €8,002 | €7,740 | -€263 | -3.3% |
| Profit (loss) for the period before taxes | 9903 | €3,735 | €6,091 | +€2,356 | +63.1% |
| Income taxes | 67/77 | €667 | €1,886 | +€1,219 | +183% |
| Profit (loss) for the period | 9904 | €3,068 | €4,205 | +€1,137 | +37.1% |
| Profit (loss) for the period to be appropriated | 9905 | €3,068 | €4,205 | +€1,137 | +37.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.