LAVAPIC: 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.
LAVAPIC
Largest movements
- Current investments +€400,000
new in 2025: €400,000
- Stocks and contracts -€328,988
down €328,988 (-100%), from €328,988 to €0
- Receivables within one year -€229,223
down €229,223 (-86.0%), from €266,650 to €37,428
of which Trade receivables: -€245,557
- Cash +€140,758
up €140,758 (+144%), from €97,832 to €238,590
mainly Stocks and contracts (+€328,988) and Receivables within one year (+€229,223)
- Tangible fixed assets -€31,770
down €31,770 (-4.2%), from €753,181 to €721,412
of which Land and buildings: -€28,638
- Current portion of long-term debt -€21,710
down €21,710 (-100%), from €21,710 to €0
- Gross operating margin -€546,736
down €546,736 (-92.4%), from €591,646 to €44,911
- Taxes -€116,906
down €116,906 (-97.8%), from €119,554 to €2,648
- Depreciation -€103,681
down €103,681 (-76.5%), from €135,451 to €31,770
- Financial income -€9,317
down €9,317 (-56.0%), from €16,648 to €7,331
- Other operating charges +€7,282
up €7,282 (+102%), from €7,153 to €14,436
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 | €1,452,111 | €1,405,173 | -€46,938 | -3.2% |
| Fixed assets | 21/28 | €753,331 | €721,562 | -€31,770 | -4.2% |
| Tangible fixed assets | 22/27 | €753,181 | €721,412 | -€31,770 | -4.2% |
| Land and buildings | 22 | €730,638 | €702,000 | -€28,638 | -3.9% |
| Plant, machinery and equipment | 23 | €22,544 | €19,412 | -€3,132 | -13.9% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €698,780 | €683,612 | -€15,168 | -2.2% |
| Stocks and contracts in progress | 3 | €328,988 | €0 | -€328,988 | -100% |
| Stocks | 30/36 | €328,988 | €0 | -€328,988 | -100% |
| Amounts receivable within one year | 40/41 | €266,650 | €37,428 | -€229,223 | -86.0% |
| Trade receivables | 40 | €247,203 | €1,646 | -€245,557 | -99.3% |
| Other amounts receivable | 41 | €19,447 | €35,781 | +€16,334 | +84.0% |
| Current investments | 50/53 | - | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €97,832 | €238,590 | +€140,758 | +144% |
| Deferred charges and accrued income | 490/1 | €5,310 | €7,594 | +€2,284 | +43.0% |
| Total equity and liabilities | 10/49 | €1,452,111 | €1,405,173 | -€46,938 | -3.2% |
| Equity | 10/15 | €1,399,563 | €1,400,164 | +€601 | 0.0% |
| Contributions | 10/11 | €133,250 | €133,250 | = | 0.0% |
| Reserves | 13 | €1,249,225 | €1,252,295 | +€3,070 | +0.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €1,249,225 | €1,252,295 | +€3,070 | +0.2% |
| Investment grants | 15 | €17,088 | €14,619 | -€2,468 | -14.4% |
| Provisions and deferred taxes | 16 | €892 | €768 | -€125 | -14.0% |
| Deferred taxes | 168 | €892 | €768 | -€125 | -14.0% |
| Amounts payable | 17/49 | €51,656 | €4,242 | -€47,414 | -91.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €39,406 | €4,084 | -€35,322 | -89.6% |
| Current portion of amounts payable after more than one year | 42 | €21,710 | €0 | -€21,710 | -100% |
| Trade debts | 44 | €12,719 | €4,084 | -€8,635 | -67.9% |
| Suppliers | 440/4 | €12,719 | €4,084 | -€8,635 | -67.9% |
| Taxes, remuneration and social security | 45 | €4,977 | €0 | -€4,977 | -100% |
| Taxes | 450/3 | €4,977 | €0 | -€4,977 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €12,250 | €158 | -€12,092 | -98.7% |
| Non-recurring operating income | 76A | €16,600 | €0 | -€16,600 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €135,451 | €31,770 | -€103,681 | -76.5% |
| Other operating charges | 640/8 | €7,153 | €14,436 | +€7,282 | +102% |
| Gross operating margin | 9900 | €591,646 | €44,911 | -€546,736 | -92.4% |
| Operating profit (loss) | 9901 | €449,042 | -€1,295 | -€450,337 | |
| Financial income | 75/76B | €16,648 | €7,331 | -€9,317 | -56.0% |
| Recurring financial income | 75 | €16,648 | €7,331 | -€9,317 | -56.0% |
| Financial charges | 65/66B | €3,442 | €443 | -€3,000 | -87.1% |
| Recurring financial charges | 65 | €3,442 | €443 | -€3,000 | -87.1% |
| Profit (loss) for the period before taxes | 9903 | €462,248 | €5,593 | -€456,654 | -98.8% |
| Transfer from deferred taxes | 780 | €125 | €125 | -€0 | 0.0% |
| Income taxes | 67/77 | €119,554 | €2,648 | -€116,906 | -97.8% |
| Profit (loss) for the period | 9904 | €342,818 | €3,070 | -€339,748 | -99.1% |
| Profit (loss) for the period to be appropriated | 9905 | €342,818 | €3,070 | -€339,748 | -99.1% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 26 October 2026 via checked.be.