LAVA Projects: 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 Projects
Largest movements
- Tangible fixed assets +€55,508
up €55,508 (+16.7%), from €332,474 to €387,982
of which Land and buildings: +€68,565
- Cash -€27,799
down €27,799 (-61.9%), from €44,896 to €17,096
mainly Investment in fixed assets (net) (-€77,209) and Debts after one year (-€6,628)
- Receivables within one year -€5,349
down €5,349 (-34.8%), from €15,356 to €10,007
of which Other amounts receivable: -€4,146
- Reserves +€21,865
up €21,865 (+22.7%), from €96,340 to €118,204
- Debts after one year -€6,628
down €6,628 (-2.6%), from €255,165 to €248,536
- Other operating charges +€6,732
up €6,732 (+169.1%), from €3,980 to €10,711
- Taxes +€6,348
up €6,348 (+212.8%), from €2,983 to €9,331
- Depreciation +€2,202
up €2,202 (+11.3%), from €19,499 to €21,701
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 | €399,179 | €422,094 | +€22,915 | +5.7% |
| Fixed assets | 21/28 | €332,474 | €387,982 | +€55,508 | +16.7% |
| Tangible fixed assets | 22/27 | €332,474 | €387,982 | +€55,508 | +16.7% |
| Land and buildings | 22 | €274,942 | €343,507 | +€68,565 | +24.9% |
| Plant, machinery and equipment | 23 | €3,543 | €3,111 | -€432 | -12.2% |
| Furniture and vehicles | 24 | €48,237 | €36,034 | -€12,204 | -25.3% |
| Other tangible fixed assets | 26 | €5,752 | €5,330 | -€422 | -7.3% |
| Current assets | 29/58 | €66,704 | €34,112 | -€32,592 | -48.9% |
| Amounts receivable within one year | 40/41 | €15,356 | €10,007 | -€5,349 | -34.8% |
| Trade receivables | 40 | €11,203 | €10,000 | -€1,203 | -10.7% |
| Other amounts receivable | 41 | €4,153 | €7 | -€4,146 | -99.8% |
| Cash at bank and in hand | 54/58 | €44,896 | €17,096 | -€27,799 | -61.9% |
| Deferred charges and accrued income | 490/1 | €6,453 | €7,009 | +€556 | +8.6% |
| Total equity and liabilities | 10/49 | €399,179 | €422,094 | +€22,915 | +5.7% |
| Equity | 10/15 | €113,608 | €135,473 | +€21,865 | +19.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Revaluation surpluses | 12 | €11,069 | €11,069 | = | 0.0% |
| Reserves | 13 | €96,340 | €118,204 | +€21,865 | +22.7% |
| Distributable reserves | 133 | €96,340 | €118,204 | +€21,865 | +22.7% |
| Amounts payable | 17/49 | €285,571 | €286,622 | +€1,051 | +0.4% |
| Amounts payable after more than one year | 17 | €255,165 | €248,536 | -€6,628 | -2.6% |
| Financial debts | 170/4 | €255,165 | €248,536 | -€6,628 | -2.6% |
| Amounts payable within one year | 42/48 | €28,574 | €36,935 | +€8,361 | +29.3% |
| Current portion of amounts payable after more than one year | 42 | €18,295 | €19,128 | +€833 | +4.6% |
| Trade debts | 44 | €3,153 | €5,766 | +€2,613 | +82.9% |
| Suppliers | 440/4 | €3,153 | €5,766 | +€2,613 | +82.9% |
| Taxes, remuneration and social security | 45 | €6,678 | €10,869 | +€4,192 | +62.8% |
| Taxes | 450/3 | €6,678 | €10,869 | +€4,192 | +62.8% |
| Other amounts payable | 47/48 | €449 | €1,172 | +€723 | +161.0% |
| Accrued charges and deferred income | 492/3 | €1,832 | €1,150 | -€682 | -37.2% |
| Non-recurring operating income | 76A | €10,000 | - | -€10,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,499 | €21,701 | +€2,202 | +11.3% |
| Other operating charges | 640/8 | €3,980 | €10,711 | +€6,732 | +169.1% |
| Gross operating margin | 9900 | €75,617 | €75,309 | -€309 | -0.4% |
| Operating profit (loss) | 9901 | €52,138 | €42,896 | -€9,242 | -17.7% |
| Financial income | 75/76B | €10 | €0 | -€10 | -99.7% |
| Recurring financial income | 75 | €10 | €0 | -€10 | -99.7% |
| Financial charges | 65/66B | €12,327 | €11,700 | -€627 | -5.1% |
| Recurring financial charges | 65 | €12,327 | €11,700 | -€627 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €39,821 | €31,196 | -€8,625 | -21.7% |
| Income taxes | 67/77 | €2,983 | €9,331 | +€6,348 | +212.8% |
| Profit (loss) for the period | 9904 | €36,838 | €21,865 | -€14,974 | -40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €36,838 | €21,865 | -€14,974 | -40.6% |
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 3 October 2026 via checked.be.