Lavobel: 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.
Lavobel
Largest movements
- Tangible fixed assets -€117,660
down €117,660 (-9.8%), from €1.2m to €1.1m
- Cash +€76,674
up €76,674 (+57.3%), from €133,905 to €210,580
mainly Depreciation (+€74,493) and Investment in fixed assets (net) (+€43,167)
- Debts after one year -€23,667
down €23,667 (-5.6%), from €426,417 to €402,750
- Reserves -€20,763
down €20,763 (-3.4%), from €619,733 to €598,970
of which Distributable reserves: -€11,952
- Other operating charges +€31,579
up €31,579 (+141.3%), from €22,348 to €53,928
- Depreciation -€17,527
down €17,527 (-19.0%), from €92,020 to €74,493
- Gross operating margin +€2,381
up €2,381 (+1.9%), from €125,686 to €128,067
- Staff costs -€1,625
down €1,625 (-9.1%), from €17,943 to €16,317
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 | €1,344,505 | €1,303,931 | -€40,574 | -3.0% |
| Fixed assets | 21/28 | €1,196,091 | €1,078,431 | -€117,660 | -9.8% |
| Tangible fixed assets | 22/27 | €1,196,091 | €1,078,431 | -€117,660 | -9.8% |
| Land and buildings | 22 | €1,003,364 | €961,016 | -€42,349 | -4.2% |
| Plant, machinery and equipment | 23 | €139,539 | €117,416 | -€22,123 | -15.9% |
| Furniture and vehicles | 24 | €53,188 | - | -€53,188 | |
| Current assets | 29/58 | €148,414 | €225,500 | +€77,086 | +51.9% |
| Amounts receivable within one year | 40/41 | €6,208 | €8,486 | +€2,278 | +36.7% |
| Trade receivables | 40 | €2,283 | €2,345 | +€62 | +2.7% |
| Other amounts receivable | 41 | €3,924 | €6,141 | +€2,217 | +56.5% |
| Cash at bank and in hand | 54/58 | €133,905 | €210,580 | +€76,674 | +57.3% |
| Deferred charges and accrued income | 490/1 | €8,301 | €6,434 | -€1,867 | -22.5% |
| Total equity and liabilities | 10/49 | €1,344,505 | €1,303,931 | -€40,574 | -3.0% |
| Equity | 10/15 | €781,733 | €760,970 | -€20,763 | -2.7% |
| Contributions | 10/11 | €162,000 | €162,000 | = | 0.0% |
| Capital | 10 | €162,000 | €162,000 | = | 0.0% |
| Issued capital | 100 | €162,000 | €162,000 | = | 0.0% |
| Reserves | 13 | €619,733 | €598,970 | -€20,763 | -3.4% |
| Non-distributable reserves | 130/1 | €16,200 | €16,200 | = | 0.0% |
| Legal reserve | 130 | €16,200 | €16,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €224,956 | €216,146 | -€8,810 | -3.9% |
| Distributable reserves | 133 | €378,577 | €366,624 | -€11,952 | -3.2% |
| Provisions and deferred taxes | 16 | €74,985 | €72,049 | -€2,937 | -3.9% |
| Deferred taxes | 168 | €74,985 | €72,049 | -€2,937 | -3.9% |
| Amounts payable | 17/49 | €487,788 | €470,913 | -€16,875 | -3.5% |
| Amounts payable after more than one year | 17 | €426,417 | €402,750 | -€23,667 | -5.6% |
| Other amounts payable | 178/9 | €426,417 | €402,750 | -€23,667 | -5.6% |
| Amounts payable within one year | 42/48 | €55,595 | €61,659 | +€6,064 | +10.9% |
| Trade debts | 44 | €2,787 | €5,005 | +€2,218 | +79.6% |
| Suppliers | 440/4 | €2,787 | €5,005 | +€2,218 | +79.6% |
| Taxes, remuneration and social security | 45 | €2,835 | €2,157 | -€678 | -23.9% |
| Taxes | 450/3 | €672 | - | -€672 | |
| Remuneration and social security | 454/9 | €2,163 | €2,157 | -€6 | -0.3% |
| Other amounts payable | 47/48 | €49,973 | €54,497 | +€4,524 | +9.1% |
| Accrued charges and deferred income | 492/3 | €5,775 | €6,503 | +€728 | +12.6% |
| Remuneration, social security and pensions | 62 | €17,943 | €16,317 | -€1,625 | -9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €92,020 | €74,493 | -€17,527 | -19.0% |
| Other operating charges | 640/8 | €22,348 | €53,928 | +€31,579 | +141.3% |
| Gross operating margin | 9900 | €125,686 | €128,067 | +€2,381 | +1.9% |
| Operating profit (loss) | 9901 | -€6,625 | -€16,671 | -€10,046 | -151.6% |
| Financial income | 75/76B | €464 | €1,029 | +€566 | +122.0% |
| Recurring financial income | 75 | €464 | €1,029 | +€566 | +122.0% |
| Financial charges | 65/66B | €8,438 | €8,058 | -€380 | -4.5% |
| Recurring financial charges | 65 | €8,438 | €8,058 | -€380 | -4.5% |
| Profit (loss) for the period before taxes | 9903 | -€14,599 | -€23,700 | -€9,100 | -62.3% |
| Transfer from deferred taxes | 780 | €2,937 | €2,937 | = | 0.0% |
| Income taxes | 67/77 | €190 | - | -€190 | |
| Profit (loss) for the period | 9904 | -€11,852 | -€20,763 | -€8,911 | -75.2% |
| Transfer from tax-exempt reserves | 789 | €8,810 | €8,810 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,042 | -€11,952 | -€8,911 | -292.9% |
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 9 October 2026 via checked.be.