Lavosa: 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.
Lavosa
Largest movements
- Receivables within one year +€127,658
up €127,658 (+102%), from €124,684 to €252,342
of which Trade receivables: +€95,533
- Tangible fixed assets +€117,132
up €117,132 (+63.3%), from €185,027 to €302,159
of which Land and buildings: +€118,740
- Cash -€9,168
down €9,168 (-65.5%), from €13,990 to €4,823
mainly Receivables within one year (-€127,658) and Investment in fixed assets (net) (-€126,151)
- Deferred charges and accrued income +€5,920
up €5,920 (+362%), from €1,634 to €7,554
- Current portion of long-term debt +€125,921
up €125,921 (+592%), from €21,265 to €147,186
- Debts after one year +€81,651
up €81,651 (+106%), from €76,898 to €158,548
- Trade debts +€29,666
up €29,666 (+120%), from €24,765 to €54,431
- Short-term financial debts +€19,088
new in 2025: €19,088
- Tax, wage and social debts -€17,576
down €17,576 (-56.3%), from €31,191 to €13,616
of which Remuneration and social security: -€15,647
- Gross operating margin -€12,853
down €12,853 (-5.7%), from €224,582 to €211,729
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 | €325,740 | €567,282 | +€241,542 | +74.2% |
| Fixed assets | 21/28 | €185,432 | €302,564 | +€117,132 | +63.2% |
| Tangible fixed assets | 22/27 | €185,027 | €302,159 | +€117,132 | +63.3% |
| Land and buildings | 22 | €112,500 | €231,240 | +€118,740 | +106% |
| Plant, machinery and equipment | 23 | €445 | €1,640 | +€1,195 | +269% |
| Furniture and vehicles | 24 | €72,082 | €69,279 | -€2,803 | -3.9% |
| Financial fixed assets | 28 | €405 | €405 | = | 0.0% |
| Current assets | 29/58 | €140,308 | €264,719 | +€124,410 | +88.7% |
| Amounts receivable within one year | 40/41 | €124,684 | €252,342 | +€127,658 | +102% |
| Trade receivables | 40 | €116,626 | €212,158 | +€95,533 | +81.9% |
| Other amounts receivable | 41 | €8,058 | €40,184 | +€32,125 | +399% |
| Cash at bank and in hand | 54/58 | €13,990 | €4,823 | -€9,168 | -65.5% |
| Deferred charges and accrued income | 490/1 | €1,634 | €7,554 | +€5,920 | +362% |
| Total equity and liabilities | 10/49 | €325,740 | €567,282 | +€241,542 | +74.2% |
| Equity | 10/15 | €56,578 | €59,370 | +€2,792 | +4.9% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €66,312 | €66,312 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €64,452 | €64,452 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,325 | -€25,534 | +€2,792 | +9.9% |
| Amounts payable | 17/49 | €269,162 | €507,912 | +€238,750 | +88.7% |
| Amounts payable after more than one year | 17 | €76,898 | €158,548 | +€81,651 | +106% |
| Financial debts | 170/4 | €76,898 | €158,548 | +€81,651 | +106% |
| Amounts payable within one year | 42/48 | €192,264 | €349,364 | +€157,100 | +81.7% |
| Current portion of amounts payable after more than one year | 42 | €21,265 | €147,186 | +€125,921 | +592% |
| Financial debts | 43 | - | €19,088 | +€19,088 | |
| Credit institutions | 430/8 | - | €19,088 | +€19,088 | |
| Trade debts | 44 | €24,765 | €54,431 | +€29,666 | +120% |
| Suppliers | 440/4 | €24,765 | €54,431 | +€29,666 | +120% |
| Taxes, remuneration and social security | 45 | €31,191 | €13,616 | -€17,576 | -56.3% |
| Taxes | 450/3 | €2,205 | €277 | -€1,928 | -87.5% |
| Remuneration and social security | 454/9 | €28,987 | €13,339 | -€15,647 | -54.0% |
| Other amounts payable | 47/48 | €115,042 | €115,042 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €189,293 | €189,462 | +€169 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,521 | €9,020 | +€499 | +5.9% |
| Other operating charges | 640/8 | €1,792 | €3,484 | +€1,692 | +94.4% |
| Gross operating margin | 9900 | €224,582 | €211,729 | -€12,853 | -5.7% |
| Operating profit (loss) | 9901 | €24,976 | €9,764 | -€15,213 | -60.9% |
| Financial charges | 65/66B | €7,368 | €6,801 | -€566 | -7.7% |
| Recurring financial charges | 65 | €7,368 | €6,801 | -€566 | -7.7% |
| Profit (loss) for the period before taxes | 9903 | €17,609 | €2,962 | -€14,646 | -83.2% |
| Income taxes | 67/77 | - | €171 | +€171 | |
| Profit (loss) for the period | 9904 | €17,609 | €2,792 | -€14,817 | -84.1% |
| Profit (loss) for the period to be appropriated | 9905 | €17,609 | €2,792 | -€14,817 | -84.1% |
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 21 October 2026 via checked.be.