LAVA: 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.
LAVA
Largest movements
- Current investments +€200,000
new in 2025: €200,000
- Tangible fixed assets -€91,081
down €91,081 (-23.0%), from €395,546 to €304,465
- Cash -€42,803
down €42,803 (-82.3%), from €52,034 to €9,231
mainly Current investments (-€200,000) and Receivables within one year (-€24,960)
- Receivables within one year +€24,960
new in 2025: €24,960
of which Other amounts receivable: +€23,570
- Reserves +€83,754
up €83,754 (+27.8%), from €301,082 to €384,836
- Tax, wage and social debts +€7,330
up €7,330 (+701.2%), from €1,045 to €8,375
- Gross operating margin +€117,504
up €117,504 (+669.9%), from €17,541 to €135,045
- Taxes +€35,083
new in 2025: €35,083
- Depreciation -€7,218
down €7,218 (-33.6%), from €21,501 to €14,282
- Other operating charges -€5,211
down €5,211 (-66.4%), from €7,850 to €2,639
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 | €448,496 | €539,580 | +€91,084 | +20.3% |
| Fixed assets | 21/28 | €395,546 | €304,465 | -€91,081 | -23.0% |
| Tangible fixed assets | 22/27 | €395,546 | €304,465 | -€91,081 | -23.0% |
| Land and buildings | 22 | €395,546 | €304,465 | -€91,081 | -23.0% |
| Current assets | 29/58 | €52,950 | €235,115 | +€182,165 | +344.0% |
| Amounts receivable within one year | 40/41 | - | €24,960 | +€24,960 | |
| Trade receivables | 40 | - | €1,391 | +€1,391 | |
| Other amounts receivable | 41 | - | €23,570 | +€23,570 | |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €52,034 | €9,231 | -€42,803 | -82.3% |
| Deferred charges and accrued income | 490/1 | €916 | €924 | +€8 | +0.9% |
| Total equity and liabilities | 10/49 | €448,496 | €539,580 | +€91,084 | +20.3% |
| Equity | 10/15 | €302,082 | €385,836 | +€83,754 | +27.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €301,082 | €384,836 | +€83,754 | +27.8% |
| Distributable reserves | 133 | €301,082 | €384,836 | +€83,754 | +27.8% |
| Amounts payable | 17/49 | €146,414 | €153,744 | +€7,330 | +5.0% |
| Amounts payable within one year | 42/48 | €146,414 | €153,744 | +€7,330 | +5.0% |
| Taxes, remuneration and social security | 45 | €1,045 | €8,375 | +€7,330 | +701.2% |
| Taxes | 450/3 | €1,045 | €8,375 | +€7,330 | +701.2% |
| Other amounts payable | 47/48 | €145,368 | €145,368 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,501 | €14,282 | -€7,218 | -33.6% |
| Other operating charges | 640/8 | €7,850 | €2,639 | -€5,211 | -66.4% |
| Gross operating margin | 9900 | €17,541 | €135,045 | +€117,504 | +669.9% |
| Operating profit (loss) | 9901 | -€11,810 | €118,123 | +€129,933 | |
| Financial income | 75/76B | - | €925 | +€925 | |
| Recurring financial income | 75 | - | €925 | +€925 | |
| Financial charges | 65/66B | €197 | €211 | +€14 | +7.3% |
| Recurring financial charges | 65 | €197 | €211 | +€14 | +7.3% |
| Profit (loss) for the period before taxes | 9903 | -€12,006 | €118,837 | +€130,844 | |
| Income taxes | 67/77 | - | €35,083 | +€35,083 | |
| Profit (loss) for the period | 9904 | -€12,006 | €83,754 | +€95,760 | |
| Profit (loss) for the period to be appropriated | 9905 | -€12,006 | €83,754 | +€95,760 |
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 5 October 2026 via checked.be.