LEVASAN: 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.
LEVASAN
Largest movements
- Cash +€374,260
up €374,260 (+566%), from €66,182 to €440,442
mainly Net result for the year (+€846,148) and Receivables within one year (+€134,403)
- Current investments +€200,005
up €200,005 (+25.0%), from €800,655 to €1.0m
- Receivables within one year -€134,403
down €134,403 (-14.7%), from €916,259 to €781,856
of which Trade receivables: -€154,010
- Reserves +€404,992
up €404,992 (+24.3%), from €1.7m to €2.1m
of which Distributable reserves: +€404,992
- Advances received +€80,825
new in 2025: €80,825
- Trade debts -€37,613
down €37,613 (-42.3%), from €88,921 to €51,308
- Tax, wage and social debts -€25,636
down €25,636 (-24.6%), from €104,176 to €78,541
of which Taxes: -€35,283
- Gross operating margin +€152,469
up €152,469 (+12.2%), from €1.2m to €1.4m
- Staff costs +€52,810
up €52,810 (+24.6%), from €214,605 to €267,415
- Taxes +€40,533
up €40,533 (+15.5%), from €261,709 to €302,242
- Financial income -€19,546
down €19,546 (-24.0%), from €81,574 to €62,027
- Financial charges -€16,589
down €16,589 (-57.6%), from €28,786 to €12,197
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 | €1,919,201 | €2,341,167 | +€421,967 | +22.0% |
| Fixed assets | 21/28 | €77,658 | €55,918 | -€21,740 | -28.0% |
| Tangible fixed assets | 22/27 | €77,658 | €55,918 | -€21,740 | -28.0% |
| Land and buildings | 22 | €13,337 | €11,808 | -€1,529 | -11.5% |
| Plant, machinery and equipment | 23 | €3,339 | €1,790 | -€1,549 | -46.4% |
| Furniture and vehicles | 24 | €30,969 | €16,731 | -€14,239 | -46.0% |
| Other tangible fixed assets | 26 | €30,013 | €25,590 | -€4,423 | -14.7% |
| Current assets | 29/58 | €1,841,543 | €2,285,249 | +€443,706 | +24.1% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Stocks and contracts in progress | 3 | €49,053 | €50,014 | +€961 | +2.0% |
| Stocks | 30/36 | €49,053 | €50,014 | +€961 | +2.0% |
| Amounts receivable within one year | 40/41 | €916,259 | €781,856 | -€134,403 | -14.7% |
| Trade receivables | 40 | €633,926 | €479,916 | -€154,010 | -24.3% |
| Other amounts receivable | 41 | €282,333 | €301,940 | +€19,607 | +6.9% |
| Current investments | 50/53 | €800,655 | €1,000,660 | +€200,005 | +25.0% |
| Cash at bank and in hand | 54/58 | €66,182 | €440,442 | +€374,260 | +566% |
| Deferred charges and accrued income | 490/1 | €9,394 | €12,278 | +€2,884 | +30.7% |
| Total equity and liabilities | 10/49 | €1,919,201 | €2,341,167 | +€421,967 | +22.0% |
| Equity | 10/15 | €1,725,502 | €2,130,494 | +€404,992 | +23.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €1,663,502 | €2,068,494 | +€404,992 | +24.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €1,657,302 | €2,062,294 | +€404,992 | +24.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €193,699 | €210,673 | +€16,974 | +8.8% |
| Amounts payable within one year | 42/48 | €193,183 | €210,673 | +€17,490 | +9.1% |
| Trade debts | 44 | €88,921 | €51,308 | -€37,613 | -42.3% |
| Suppliers | 440/4 | €88,921 | €51,308 | -€37,613 | -42.3% |
| Advances received on contracts in progress | 46 | - | €80,825 | +€80,825 | |
| Taxes, remuneration and social security | 45 | €104,176 | €78,541 | -€25,636 | -24.6% |
| Taxes | 450/3 | €60,300 | €25,017 | -€35,283 | -58.5% |
| Remuneration and social security | 454/9 | €43,876 | €53,524 | +€9,648 | +22.0% |
| Other amounts payable | 47/48 | €86 | €0 | -€86 | -100% |
| Accrued charges and deferred income | 492/3 | €516 | €0 | -€516 | -100.0% |
| Remuneration, social security and pensions | 62 | €214,605 | €267,415 | +€52,810 | +24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,365 | €21,740 | +€375 | +1.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €4,122 | €12,440 | +€8,318 | +202% |
| Non-recurring operating charges | 66A | €8,443 | €0 | -€8,443 | -100% |
| Gross operating margin | 9900 | €1,247,686 | €1,400,155 | +€152,469 | +12.2% |
| Operating profit (loss) | 9901 | €999,152 | €1,098,560 | +€99,408 | +9.9% |
| Financial income | 75/76B | €81,574 | €62,027 | -€19,546 | -24.0% |
| Recurring financial income | 75 | €81,574 | €62,027 | -€19,546 | -24.0% |
| Financial charges | 65/66B | €28,786 | €12,197 | -€16,589 | -57.6% |
| Recurring financial charges | 65 | €28,786 | €12,197 | -€16,589 | -57.6% |
| Profit (loss) for the period before taxes | 9903 | €1,051,940 | €1,148,390 | +€96,451 | +9.2% |
| Income taxes | 67/77 | €261,709 | €302,242 | +€40,533 | +15.5% |
| Profit (loss) for the period | 9904 | €790,231 | €846,148 | +€55,918 | +7.1% |
| Profit (loss) for the period to be appropriated | 9905 | €790,231 | €846,148 | +€55,918 | +7.1% |
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 26 October 2026 via checked.be.