LBVAST161: 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.
LBVAST161
Largest movements
- Tangible fixed assets -€51,844
down €51,844 (-4.4%), from €1.2m to €1.1m
- Receivables within one year +€49,314
up €49,314 (+145%), from €34,113 to €83,426
of which Trade receivables: +€39,314
- Tax, wage and social debts -€34,171
down €34,171 (-45.4%), from €75,207 to €41,035
of which Taxes: -€32,451
- Reserves +€32,819
up €32,819 (+9.5%), from €344,836 to €377,656
of which Distributable reserves: +€32,819
- Debts after one year -€28,444
down €28,444 (-3.3%), from €871,188 to €842,744
of which Financial debts: -€28,444
- Accrued charges and deferred income +€25,582
up €25,582 (+291%), from €8,785 to €34,367
- Other debts +€24,059
up €24,059 (+53.8%), from €44,741 to €68,800
- Financial charges +€45,995
up €45,995 (+167%), from €27,574 to €73,569
- Gross operating margin +€41,593
up €41,593 (+16.4%), from €253,040 to €294,632
- Staff costs +€13,834
up €13,834 (+21.1%), from €65,422 to €79,257
- Depreciation +€8,677
up €8,677 (+10.9%), from €79,516 to €88,192
- Taxes -€8,643
down €8,643 (-39.8%), from €21,725 to €13,082
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 | €1,411,768 | €1,418,622 | +€6,854 | +0.5% |
| Fixed assets | 21/28 | €1,206,947 | €1,159,143 | -€47,804 | -4.0% |
| Tangible fixed assets | 22/27 | €1,178,602 | €1,126,758 | -€51,844 | -4.4% |
| Land and buildings | 22 | €322,946 | €314,083 | -€8,863 | -2.7% |
| Plant, machinery and equipment | 23 | €154,329 | €128,892 | -€25,438 | -16.5% |
| Furniture and vehicles | 24 | €331 | - | -€331 | |
| Leasing and similar rights | 25 | €700,995 | €683,783 | -€17,212 | -2.5% |
| Financial fixed assets | 28 | €28,345 | €32,385 | +€4,040 | +14.3% |
| Current assets | 29/58 | €204,821 | €259,479 | +€54,659 | +26.7% |
| Amounts receivable within one year | 40/41 | €34,113 | €83,426 | +€49,314 | +145% |
| Trade receivables | 40 | €24,113 | €63,426 | +€39,314 | +163% |
| Other amounts receivable | 41 | €10,000 | €20,000 | +€10,000 | +100% |
| Cash at bank and in hand | 54/58 | €168,807 | €175,850 | +€7,043 | +4.2% |
| Deferred charges and accrued income | 490/1 | €1,901 | €203 | -€1,698 | -89.3% |
| Total equity and liabilities | 10/49 | €1,411,768 | €1,418,622 | +€6,854 | +0.5% |
| Equity | 10/15 | €357,236 | €390,056 | +€32,819 | +9.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €344,836 | €377,656 | +€32,819 | +9.5% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €342,976 | €375,796 | +€32,819 | +9.6% |
| Amounts payable | 17/49 | €1,054,531 | €1,028,567 | -€25,965 | -2.5% |
| Amounts payable after more than one year | 17 | €871,188 | €842,744 | -€28,444 | -3.3% |
| Financial debts | 170/4 | €870,260 | €841,815 | -€28,444 | -3.3% |
| Other amounts payable | 178/9 | €928 | €928 | = | 0.0% |
| Amounts payable within one year | 42/48 | €174,559 | €151,456 | -€23,103 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €25,118 | €28,444 | +€3,326 | +13.2% |
| Trade debts | 44 | €29,493 | €13,176 | -€16,316 | -55.3% |
| Suppliers | 440/4 | €29,493 | €13,176 | -€16,316 | -55.3% |
| Taxes, remuneration and social security | 45 | €75,207 | €41,035 | -€34,171 | -45.4% |
| Taxes | 450/3 | €67,258 | €34,807 | -€32,451 | -48.2% |
| Remuneration and social security | 454/9 | €7,949 | €6,229 | -€1,720 | -21.6% |
| Other amounts payable | 47/48 | €44,741 | €68,800 | +€24,059 | +53.8% |
| Accrued charges and deferred income | 492/3 | €8,785 | €34,367 | +€25,582 | +291% |
| Remuneration, social security and pensions | 62 | €65,422 | €79,257 | +€13,834 | +21.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,516 | €88,192 | +€8,677 | +10.9% |
| Other operating charges | 640/8 | €5,815 | €7,713 | +€1,898 | +32.6% |
| Gross operating margin | 9900 | €253,040 | €294,632 | +€41,593 | +16.4% |
| Operating profit (loss) | 9901 | €102,286 | €119,470 | +€17,184 | +16.8% |
| Financial charges | 65/66B | €27,574 | €73,569 | +€45,995 | +167% |
| Recurring financial charges | 65 | €27,574 | €73,569 | +€45,995 | +167% |
| Profit (loss) for the period before taxes | 9903 | €74,712 | €45,901 | -€28,811 | -38.6% |
| Income taxes | 67/77 | €21,725 | €13,082 | -€8,643 | -39.8% |
| Profit (loss) for the period | 9904 | €52,987 | €32,819 | -€20,168 | -38.1% |
| Profit (loss) for the period to be appropriated | 9905 | €52,987 | €32,819 | -€20,168 | -38.1% |
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 24 October 2026 via checked.be.