LEPIVITS: 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.
LEPIVITS
Largest movements
- Tangible fixed assets +€1.7m
up €1.7m (+1,459%), from €115,778 to €1.8m
of which Assets under construction and advance payments: +€1.6m
- Receivables within one year +€642,921
up €642,921 (+158%), from €407,977 to €1.1m
of which Trade receivables: +€637,934
- Cash +€506,997
up €506,997 (+413%), from €122,791 to €629,788
mainly Debts after one year (+€1.7m) and Contributions, distributions and other (+€900,000)
- Intangible fixed assets +€105,563
up €105,563 (+129%), from €82,081 to €187,644
- Stocks and contracts +€80,573
up €80,573 (+27.4%), from €294,591 to €375,164
- Debts after one year +€1.7m
up €1.7m (+607%), from €282,640 to €2.0m
of which Financial debts: +€1.8m
- Contributions +€938,434
up €938,434 (+1,524%), from €61,566 to €1.0m
- Profit (loss) carried forward +€168,504
up €168,504 (+1,363%), from €12,366 to €180,870
- Reserves +€116,613
up €116,613 (+42.7%), from €273,157 to €389,769
of which Distributable reserves: +€100,000
- Tax, wage and social debts +€75,368
up €75,368 (+198%), from €37,997 to €113,365
of which Remuneration and social security: +€69,544
- Gross operating margin +€370,459
up €370,459 (+62.0%), from €597,741 to €968,200
- Staff costs +€141,402
up €141,402 (+47.2%), from €299,607 to €441,009
- Financial charges -€42,886
down €42,886 (-46.9%), from €91,400 to €48,514
of which Financial charges: -€45,705
- Taxes +€38,716
up €38,716 (+81.1%), from €47,747 to €86,463
- Depreciation +€14,523
up €14,523 (+30.5%), from €47,581 to €62,104
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 | €1,039,660 | €4,073,339 | +€3.0m | +292% |
| Formation expenses | 20 | - | €5,411 | +€5,411 | |
| Fixed assets | 21/28 | €201,884 | €1,996,934 | +€1.8m | +889% |
| Intangible fixed assets | 21 | €82,081 | €187,644 | +€105,563 | +129% |
| Tangible fixed assets | 22/27 | €115,778 | €1,805,265 | +€1.7m | +1,459% |
| Plant, machinery and equipment | 23 | €320 | €0 | -€320 | -100% |
| Furniture and vehicles | 24 | €3,711 | €6,135 | +€2,424 | +65.3% |
| Leasing and similar rights | 25 | €68,075 | €128,687 | +€60,612 | +89.0% |
| Other tangible fixed assets | 26 | €43,673 | €35,639 | -€8,034 | -18.4% |
| Assets under construction and advance payments | 27 | - | €1,634,804 | +€1.6m | |
| Financial fixed assets | 28 | €4,025 | €4,025 | = | 0.0% |
| Current assets | 29/58 | €837,776 | €2,070,993 | +€1.2m | +147% |
| Stocks and contracts in progress | 3 | €294,591 | €375,164 | +€80,573 | +27.4% |
| Stocks | 30/36 | €294,591 | €375,164 | +€80,573 | +27.4% |
| Amounts receivable within one year | 40/41 | €407,977 | €1,050,898 | +€642,921 | +158% |
| Trade receivables | 40 | €403,051 | €1,040,985 | +€637,934 | +158% |
| Other amounts receivable | 41 | €4,926 | €9,913 | +€4,987 | +101% |
| Cash at bank and in hand | 54/58 | €122,791 | €629,788 | +€506,997 | +413% |
| Deferred charges and accrued income | 490/1 | €12,418 | €15,144 | +€2,726 | +21.9% |
| Total equity and liabilities | 10/49 | €1,039,660 | €4,073,339 | +€3.0m | +292% |
| Equity | 10/15 | €347,089 | €1,570,640 | +€1.2m | +353% |
| Contributions | 10/11 | €61,566 | €1,000,000 | +€938,434 | +1,524% |
| Capital | 10 | €61,566 | €1,000,000 | +€938,434 | +1,524% |
| Issued capital | 100 | €61,566 | €1,000,000 | +€938,434 | +1,524% |
| Reserves | 13 | €273,157 | €389,769 | +€116,613 | +42.7% |
| Non-distributable reserves | 130/1 | €6,157 | €22,769 | +€16,613 | +270% |
| Legal reserve | 130 | €6,157 | €22,769 | +€16,613 | +270% |
| Distributable reserves | 133 | €267,000 | €367,000 | +€100,000 | +37.5% |
| Profit (loss) carried forward | 14 | €12,366 | €180,870 | +€168,504 | +1,363% |
| Amounts payable | 17/49 | €692,572 | €2,502,699 | +€1.8m | +261% |
| Amounts payable after more than one year | 17 | €282,640 | €1,997,711 | +€1.7m | +607% |
| Financial debts | 170/4 | €42,865 | €1,882,167 | +€1.8m | +4,291% |
| Other amounts payable | 178/9 | €239,775 | €115,544 | -€124,231 | -51.8% |
| Amounts payable within one year | 42/48 | €405,552 | €497,452 | +€91,900 | +22.7% |
| Current portion of amounts payable after more than one year | 42 | €108,706 | €124,008 | +€15,302 | +14.1% |
| Financial debts | 43 | €30,779 | €56,360 | +€25,580 | +83.1% |
| Credit institutions | 430/8 | €30,779 | €56,360 | +€25,580 | +83.1% |
| Trade debts | 44 | €199,814 | €199,638 | -€176 | -0.1% |
| Suppliers | 440/4 | €199,814 | €199,638 | -€176 | -0.1% |
| Taxes, remuneration and social security | 45 | €37,997 | €113,365 | +€75,368 | +198% |
| Taxes | 450/3 | €3,727 | €9,551 | +€5,824 | +156% |
| Remuneration and social security | 454/9 | €34,270 | €103,814 | +€69,544 | +203% |
| Other amounts payable | 47/48 | €28,256 | €4,081 | -€24,175 | -85.6% |
| Accrued charges and deferred income | 492/3 | €4,379 | €7,536 | +€3,157 | +72.1% |
| Non-recurring operating income | 76A | €252 | €5,484 | +€5,233 | +2,077% |
| Remuneration, social security and pensions | 62 | €299,607 | €441,009 | +€141,402 | +47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,581 | €62,104 | +€14,523 | +30.5% |
| Other operating charges | 640/8 | €6,015 | €6,894 | +€879 | +14.6% |
| Non-recurring operating charges | 66A | €116 | €0 | -€116 | -100% |
| Gross operating margin | 9900 | €597,741 | €968,200 | +€370,459 | +62.0% |
| Operating profit (loss) | 9901 | €244,421 | €458,193 | +€213,771 | +87.5% |
| Financial income | 75/76B | €2,479 | €335 | -€2,144 | -86.5% |
| Recurring financial income | 75 | €2,479 | €335 | -€2,144 | -86.5% |
| Non-recurring financial income | 76B | €2,479 | €0 | -€2,479 | -100% |
| Financial charges | 65/66B | €91,400 | €48,514 | -€42,886 | -46.9% |
| Recurring financial charges | 65 | €88,371 | €42,666 | -€45,705 | -51.7% |
| Non-recurring financial charges | 66B | €3,028 | €5,848 | +€2,820 | +93.1% |
| Profit (loss) for the period before taxes | 9903 | €155,501 | €410,014 | +€254,513 | +164% |
| Income taxes | 67/77 | €47,747 | €86,463 | +€38,716 | +81.1% |
| Profit (loss) for the period | 9904 | €107,754 | €323,551 | +€215,797 | +200% |
| Profit (loss) for the period to be appropriated | 9905 | €107,754 | €323,551 | +€215,797 | +200% |
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 18 October 2026 via checked.be.