LAVONE: 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.
LAVONE
Largest movements
- Receivables within one year +€138,421
up €138,421 (+47.6%), from €291,056 to €429,477
of which Other amounts receivable: +€141,858
- Stocks and contracts -€72,740
down €72,740 (-11.1%), from €656,225 to €583,485
- Tangible fixed assets -€42,606
down €42,606 (-22.8%), from €186,571 to €143,965
of which Furniture and vehicles: -€71,974
- Debts after one year +€243,765
up €243,765 (+265.2%), from €91,921 to €335,686
- Short-term financial debts -€140,000
down €140,000 (-35.9%), from €390,000 to €250,000
- Reserves -€122,519
down €122,519 (-47.0%), from €260,764 to €138,245
of which Distributable reserves: -€122,519
- Current portion of long-term debt +€73,831
up €73,831 (+117.3%), from €62,931 to €136,762
- Other debts -€68,465
down €68,465 (-52.8%), from €129,761 to €61,295
- Gross operating margin -€183,076
down €183,076 (-49.3%), from €371,509 to €188,433
- Staff costs -€34,479
down €34,479 (-14.0%), from €246,018 to €211,539
- Taxes -€21,978
down €21,978 (-96.6%), from €22,749 to €771
- Financial charges -€14,382
down €14,382 (-20.0%), from €72,079 to €57,697
of which Non-recurring financial charges: -€15,066
- Depreciation +€13,115
up €13,115 (+32.3%), from €40,553 to €53,668
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 | €1,171,461 | €1,203,151 | +€31,690 | +2.7% |
| Fixed assets | 21/28 | €196,300 | €152,094 | -€44,206 | -22.5% |
| Intangible fixed assets | 21 | €3,804 | €2,204 | -€1,600 | -42.1% |
| Tangible fixed assets | 22/27 | €186,571 | €143,965 | -€42,606 | -22.8% |
| Land and buildings | 22 | - | €12,509 | +€12,509 | |
| Plant, machinery and equipment | 23 | €44,617 | €62,080 | +€17,463 | +39.1% |
| Furniture and vehicles | 24 | €134,081 | €62,107 | -€71,974 | -53.7% |
| Other tangible fixed assets | 26 | €7,872 | €7,269 | -€603 | -7.7% |
| Financial fixed assets | 28 | €5,925 | €5,925 | = | 0.0% |
| Current assets | 29/58 | €975,161 | €1,051,056 | +€75,895 | +7.8% |
| Stocks and contracts in progress | 3 | €656,225 | €583,485 | -€72,740 | -11.1% |
| Stocks | 30/36 | €656,225 | €583,485 | -€72,740 | -11.1% |
| Amounts receivable within one year | 40/41 | €291,056 | €429,477 | +€138,421 | +47.6% |
| Trade receivables | 40 | €147,589 | €144,152 | -€3,437 | -2.3% |
| Other amounts receivable | 41 | €143,467 | €285,325 | +€141,858 | +98.9% |
| Cash at bank and in hand | 54/58 | €3,296 | €14,616 | +€11,321 | +343.5% |
| Deferred charges and accrued income | 490/1 | €24,585 | €23,478 | -€1,107 | -4.5% |
| Total equity and liabilities | 10/49 | €1,171,461 | €1,203,151 | +€31,690 | +2.7% |
| Equity | 10/15 | €279,364 | €156,845 | -€122,519 | -43.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €260,764 | €138,245 | -€122,519 | -47.0% |
| Tax-exempt reserves | 132 | €113,670 | €113,670 | = | 0.0% |
| Distributable reserves | 133 | €147,094 | €24,575 | -€122,519 | -83.3% |
| Amounts payable | 17/49 | €892,097 | €1,046,305 | +€154,208 | +17.3% |
| Amounts payable after more than one year | 17 | €91,921 | €335,686 | +€243,765 | +265.2% |
| Financial debts | 170/4 | €91,921 | €335,686 | +€243,765 | +265.2% |
| Amounts payable within one year | 42/48 | €800,175 | €710,619 | -€89,556 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €62,931 | €136,762 | +€73,831 | +117.3% |
| Financial debts | 43 | €390,000 | €250,000 | -€140,000 | -35.9% |
| Credit institutions | 430/8 | €390,000 | €250,000 | -€140,000 | -35.9% |
| Trade debts | 44 | €122,253 | €179,909 | +€57,655 | +47.2% |
| Suppliers | 440/4 | €122,253 | €179,909 | +€57,655 | +47.2% |
| Taxes, remuneration and social security | 45 | €95,231 | €82,653 | -€12,578 | -13.2% |
| Taxes | 450/3 | €66,284 | €72,463 | +€6,179 | +9.3% |
| Remuneration and social security | 454/9 | €28,946 | €10,190 | -€18,757 | -64.8% |
| Other amounts payable | 47/48 | €129,761 | €61,295 | -€68,465 | -52.8% |
| Accrued charges and deferred income | 492/3 | €1 | - | -€1 | |
| Remuneration, social security and pensions | 62 | €246,018 | €211,539 | -€34,479 | -14.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,553 | €53,668 | +€13,115 | +32.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €893 | €1,811 | +€918 | +102.9% |
| Other operating charges | 640/8 | €2,345 | €2,511 | +€167 | +7.1% |
| Gross operating margin | 9900 | €371,509 | €188,433 | -€183,076 | -49.3% |
| Operating profit (loss) | 9901 | €81,701 | -€81,096 | -€162,797 | |
| Financial income | 75/76B | €22,373 | €17,045 | -€5,328 | -23.8% |
| Recurring financial income | 75 | €10,135 | €10,735 | +€600 | +5.9% |
| Non-recurring financial income | 76B | €12,238 | €6,310 | -€5,928 | -48.4% |
| Financial charges | 65/66B | €72,079 | €57,697 | -€14,382 | -20.0% |
| Recurring financial charges | 65 | €52,383 | €53,067 | +€684 | +1.3% |
| Non-recurring financial charges | 66B | €19,696 | €4,630 | -€15,066 | -76.5% |
| Profit (loss) for the period before taxes | 9903 | €31,995 | -€121,747 | -€153,742 | |
| Income taxes | 67/77 | €22,749 | €771 | -€21,978 | -96.6% |
| Profit (loss) for the period | 9904 | €9,245 | -€122,519 | -€131,764 | |
| Profit (loss) for the period to be appropriated | 9905 | €9,245 | -€122,519 | -€131,764 |
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.