LAVA: 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.
LAVA
Largest movements
- Cash +€67,756
up €67,756 (+461%), from €14,702 to €82,457
mainly Net result for the year (+€46,902) and Depreciation (+€15,466)
- Receivables within one year -€15,406
down €15,406 (-19.1%), from €80,520 to €65,114
of which Trade receivables: -€13,791
- Tangible fixed assets +€12,788
up €12,788 (+18.0%), from €70,999 to €83,787
of which Plant, machinery and equipment: +€15,489
- Profit (loss) carried forward +€46,902
up €46,902 (+52.7%), from €89,046 to €135,948
- Debts after one year -€14,618
down €14,618 (-35.5%), from €41,187 to €26,569
- Accrued charges and deferred income +€12,200
new in 2025: €12,200
- Trade debts +€9,606
up €9,606 (+847%), from €1,135 to €10,741
- Tax, wage and social debts +€5,769
new in 2025: €5,769
- Gross operating margin +€72,807
up €72,807 (+4,048%), from €1,799 to €74,605
- Taxes +€7,961
new in 2025: €7,961
- Depreciation +€1,519
up €1,519 (+10.9%), from €13,947 to €15,466
- Financial charges -€1,100
down €1,100 (-21.9%), from €5,013 to €3,913
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 | €168,300 | €231,358 | +€63,058 | +37.5% |
| Fixed assets | 21/28 | €70,999 | €83,787 | +€12,788 | +18.0% |
| Tangible fixed assets | 22/27 | €70,999 | €83,787 | +€12,788 | +18.0% |
| Plant, machinery and equipment | 23 | €31,153 | €46,641 | +€15,489 | +49.7% |
| Furniture and vehicles | 24 | €39,846 | €37,146 | -€2,700 | -6.8% |
| Current assets | 29/58 | €97,301 | €147,571 | +€50,270 | +51.7% |
| Amounts receivable within one year | 40/41 | €80,520 | €65,114 | -€15,406 | -19.1% |
| Trade receivables | 40 | €78,562 | €64,771 | -€13,791 | -17.6% |
| Other amounts receivable | 41 | €1,958 | €343 | -€1,615 | -82.5% |
| Cash at bank and in hand | 54/58 | €14,702 | €82,457 | +€67,756 | +461% |
| Deferred charges and accrued income | 490/1 | €2,079 | - | -€2,079 | |
| Total equity and liabilities | 10/49 | €168,300 | €231,358 | +€63,058 | +37.5% |
| Equity | 10/15 | €101,115 | €148,017 | +€46,902 | +46.4% |
| Reserves | 13 | €12,069 | €12,069 | = | 0.0% |
| Distributable reserves | 133 | €12,069 | €12,069 | = | 0.0% |
| Profit (loss) carried forward | 14 | €89,046 | €135,948 | +€46,902 | +52.7% |
| Amounts payable | 17/49 | €67,185 | €83,341 | +€16,156 | +24.0% |
| Amounts payable after more than one year | 17 | €41,187 | €26,569 | -€14,618 | -35.5% |
| Financial debts | 170/4 | €41,187 | €26,569 | -€14,618 | -35.5% |
| Amounts payable within one year | 42/48 | €25,998 | €44,572 | +€18,573 | +71.4% |
| Current portion of amounts payable after more than one year | 42 | €13,397 | €14,047 | +€649 | +4.8% |
| Trade debts | 44 | €1,135 | €10,741 | +€9,606 | +847% |
| Suppliers | 440/4 | €1,135 | €10,741 | +€9,606 | +847% |
| Taxes, remuneration and social security | 45 | - | €5,769 | +€5,769 | |
| Taxes | 450/3 | - | €5,769 | +€5,769 | |
| Other amounts payable | 47/48 | €11,466 | €14,016 | +€2,550 | +22.2% |
| Accrued charges and deferred income | 492/3 | - | €12,200 | +€12,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,947 | €15,466 | +€1,519 | +10.9% |
| Other operating charges | 640/8 | €705 | €720 | +€14 | +2.0% |
| Gross operating margin | 9900 | €1,799 | €74,605 | +€72,807 | +4,048% |
| Operating profit (loss) | 9901 | -€12,854 | €58,419 | +€71,273 | |
| Financial income | 75/76B | €182 | €357 | +€176 | +96.6% |
| Recurring financial income | 75 | €182 | €357 | +€176 | +96.6% |
| Financial charges | 65/66B | €5,013 | €3,913 | -€1,100 | -21.9% |
| Recurring financial charges | 65 | €5,013 | €3,913 | -€1,100 | -21.9% |
| Profit (loss) for the period before taxes | 9903 | -€17,685 | €54,863 | +€72,548 | |
| Income taxes | 67/77 | - | €7,961 | +€7,961 | |
| Profit (loss) for the period | 9904 | -€17,685 | €46,902 | +€64,587 | |
| Profit (loss) for the period to be appropriated | 9905 | -€17,685 | €46,902 | +€64,587 |
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 15 October 2026 via checked.be.