LEVASSEUR NEWCO: 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.
LEVASSEUR NEWCO
Largest movements
- Cash -€109,913
down €109,913 (-54.7%), from €200,918 to €91,004
mainly Trade debts (-€113,986) and Current investments (-€97,200)
- Current investments +€97,200
up €97,200 (+94.6%), from €102,800 to €200,000
- Receivables within one year -€64,445
down €64,445 (-19.0%), from €339,056 to €274,612
of which Trade receivables: -€62,998
- Trade debts -€113,986
down €113,986 (-50.4%), from €226,245 to €112,260
- Profit (loss) carried forward +€49,336
up €49,336 (+16.0%), from €308,058 to €357,394
- Reserves -€30,000
down €30,000 (-42.9%), from €70,000 to €40,000
of which Distributable reserves: -€30,000
- Other debts +€21,481
up €21,481 (+76.7%), from €28,000 to €49,481
- Debts after one year -€15,584
down €15,584 (-77.8%), from €20,028 to €4,444
- Write-downs -€11,297
down €11,297 (-100%), from €11,297 to €0
- Staff costs +€10,871
up €10,871 (+8.5%), from €128,104 to €138,976
- Gross operating margin -€10,339
down €10,339 (-3.9%), from €266,180 to €255,841
- Financial income +€6,960
up €6,960 (+37.3%), from €18,667 to €25,627
- Depreciation +€2,908
up €2,908 (+12.4%), from €23,373 to €26,281
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 | €822,708 | €737,324 | -€85,384 | -10.4% |
| Fixed assets | 21/28 | €77,230 | €69,016 | -€8,213 | -10.6% |
| Intangible fixed assets | 21 | €3,927 | €2,413 | -€1,514 | -38.5% |
| Tangible fixed assets | 22/27 | €73,141 | €66,442 | -€6,700 | -9.2% |
| Land and buildings | 22 | - | €11,328 | +€11,328 | |
| Plant, machinery and equipment | 23 | €11,067 | €10,173 | -€895 | -8.1% |
| Furniture and vehicles | 24 | €60,681 | €43,731 | -€16,951 | -27.9% |
| Other tangible fixed assets | 26 | €1,393 | €1,210 | -€183 | -13.1% |
| Financial fixed assets | 28 | €161 | €161 | = | 0.0% |
| Current assets | 29/58 | €745,479 | €668,308 | -€77,171 | -10.4% |
| Stocks and contracts in progress | 3 | €95,007 | €93,534 | -€1,473 | -1.6% |
| Stocks | 30/36 | €95,007 | €93,534 | -€1,473 | -1.6% |
| Amounts receivable within one year | 40/41 | €339,056 | €274,612 | -€64,445 | -19.0% |
| Trade receivables | 40 | €334,980 | €271,982 | -€62,998 | -18.8% |
| Other amounts receivable | 41 | €4,076 | €2,630 | -€1,446 | -35.5% |
| Current investments | 50/53 | €102,800 | €200,000 | +€97,200 | +94.6% |
| Cash at bank and in hand | 54/58 | €200,918 | €91,004 | -€109,913 | -54.7% |
| Deferred charges and accrued income | 490/1 | €7,698 | €9,158 | +€1,460 | +19.0% |
| Total equity and liabilities | 10/49 | €822,708 | €737,324 | -€85,384 | -10.4% |
| Equity | 10/15 | €478,058 | €497,394 | +€19,336 | +4.0% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €70,000 | €40,000 | -€30,000 | -42.9% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €60,000 | €30,000 | -€30,000 | -50.0% |
| Profit (loss) carried forward | 14 | €308,058 | €357,394 | +€49,336 | +16.0% |
| Amounts payable | 17/49 | €344,650 | €239,930 | -€104,720 | -30.4% |
| Amounts payable after more than one year | 17 | €20,028 | €4,444 | -€15,584 | -77.8% |
| Financial debts | 170/4 | €20,028 | €4,444 | -€15,584 | -77.8% |
| Amounts payable within one year | 42/48 | €324,578 | €235,441 | -€89,138 | -27.5% |
| Current portion of amounts payable after more than one year | 42 | €16,949 | €15,584 | -€1,365 | -8.1% |
| Trade debts | 44 | €226,245 | €112,260 | -€113,986 | -50.4% |
| Suppliers | 440/4 | €226,245 | €112,260 | -€113,986 | -50.4% |
| Advances received on contracts in progress | 46 | €595 | €0 | -€595 | -100% |
| Taxes, remuneration and social security | 45 | €52,789 | €58,116 | +€5,327 | +10.1% |
| Taxes | 450/3 | €34,354 | €37,412 | +€3,058 | +8.9% |
| Remuneration and social security | 454/9 | €18,435 | €20,705 | +€2,270 | +12.3% |
| Other amounts payable | 47/48 | €28,000 | €49,481 | +€21,481 | +76.7% |
| Accrued charges and deferred income | 492/3 | €44 | €45 | +€1 | +2.9% |
| Remuneration, social security and pensions | 62 | €128,104 | €138,976 | +€10,871 | +8.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,373 | €26,281 | +€2,908 | +12.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,297 | €0 | -€11,297 | -100% |
| Other operating charges | 640/8 | €5,720 | €7,463 | +€1,743 | +30.5% |
| Non-recurring operating charges | 66A | €0 | €366 | +€366 | |
| Gross operating margin | 9900 | €266,180 | €255,841 | -€10,339 | -3.9% |
| Operating profit (loss) | 9901 | €97,686 | €82,756 | -€14,930 | -15.3% |
| Financial income | 75/76B | €18,667 | €25,627 | +€6,960 | +37.3% |
| Recurring financial income | 75 | €18,667 | €25,627 | +€6,960 | +37.3% |
| Financial charges | 65/66B | €3,830 | €5,357 | +€1,527 | +39.9% |
| Recurring financial charges | 65 | €3,830 | €5,357 | +€1,527 | +39.9% |
| Profit (loss) for the period before taxes | 9903 | €112,524 | €103,025 | -€9,498 | -8.4% |
| Income taxes | 67/77 | €26,134 | €23,689 | -€2,445 | -9.4% |
| Profit (loss) for the period | 9904 | €86,390 | €79,336 | -€7,054 | -8.2% |
| Transfer from tax-exempt reserves | 789 | - | €30,000 | +€30,000 | |
| Profit (loss) for the period to be appropriated | 9905 | €86,390 | €109,336 | +€22,946 | +26.6% |
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 23 October 2026 via checked.be.