LEVECO: 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.
LEVECO
Largest movements
- Current investments +€7.0m
up €7.0m (+25.0%), from €28.0m to €35.0m
- Cash -€3.0m
down €3.0m (-93.1%), from €3.2m to €222,810
mainly Current investments (-€7.0m) and Contributions, distributions and other (-€1.5m)
- Reserves +€5.1m
up €5.1m (+12.8%), from €39.4m to €44.4m
of which Distributable reserves: +€5.1m
- Other debts -€1.0m
down €1.0m (-28.6%), from €3.5m to €2.5m
- Financial income -€2.6m
down €2.6m (-29.2%), from €8.8m to €6.2m
- Taxes +€144,883
up €144,883 (+34.4%), from €421,391 to €566,274
- Staff costs -€64,345
down €64,345 (-8.3%), from €770,900 to €706,556
- Gross operating margin -€53,097
down €53,097 (-3.1%), from €1.7m to €1.7m
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 | €53,752,937 | €57,763,159 | +€4.0m | +7.5% |
| Fixed assets | 21/28 | €21,882,072 | €21,704,547 | -€177,525 | -0.8% |
| Tangible fixed assets | 22/27 | €1,921,744 | €1,994,218 | +€72,475 | +3.8% |
| Land and buildings | 22 | €1,808,224 | €1,808,224 | = | 0.0% |
| Furniture and vehicles | 24 | €113,520 | €185,994 | +€72,475 | +63.8% |
| Financial fixed assets | 28 | €19,960,328 | €19,710,328 | -€250,000 | -1.3% |
| Current assets | 29/58 | €31,870,865 | €36,058,613 | +€4.2m | +13.1% |
| Amounts receivable within one year | 40/41 | €607,901 | €707,106 | +€99,205 | +16.3% |
| Trade receivables | 40 | €363,114 | €272,157 | -€90,957 | -25.0% |
| Other amounts receivable | 41 | €244,788 | €434,949 | +€190,162 | +77.7% |
| Current investments | 50/53 | €28,000,000 | €35,000,000 | +€7.0m | +25.0% |
| Cash at bank and in hand | 54/58 | €3,233,737 | €222,810 | -€3.0m | -93.1% |
| Deferred charges and accrued income | 490/1 | €29,227 | €128,697 | +€99,470 | +340% |
| Total equity and liabilities | 10/49 | €53,752,937 | €57,763,159 | +€4.0m | +7.5% |
| Equity | 10/15 | €50,106,207 | €55,157,283 | +€5.1m | +10.1% |
| Contributions | 10/11 | €6,742,072 | €6,742,072 | = | 0.0% |
| Revaluation surpluses | 12 | €3,987,919 | €3,987,919 | = | 0.0% |
| Reserves | 13 | €39,376,216 | €44,427,292 | +€5.1m | +12.8% |
| Non-distributable reserves | 130/1 | €741,830 | €741,830 | = | 0.0% |
| Reserves not available under the articles | 1311 | €741,830 | €741,830 | = | 0.0% |
| Distributable reserves | 133 | €38,634,386 | €43,685,463 | +€5.1m | +13.1% |
| Amounts payable | 17/49 | €3,646,730 | €2,605,876 | -€1.0m | -28.5% |
| Amounts payable within one year | 42/48 | €3,646,730 | €2,605,876 | -€1.0m | -28.5% |
| Trade debts | 44 | - | €694 | +€694 | |
| Suppliers | 440/4 | - | €694 | +€694 | |
| Taxes, remuneration and social security | 45 | €146,730 | €105,182 | -€41,547 | -28.3% |
| Taxes | 450/3 | €60,666 | €49,481 | -€11,184 | -18.4% |
| Remuneration and social security | 454/9 | €86,064 | €55,701 | -€30,363 | -35.3% |
| Other amounts payable | 47/48 | €3,500,000 | €2,500,000 | -€1.0m | -28.6% |
| Non-recurring operating income | 76A | - | €25,678 | +€25,678 | |
| Remuneration, social security and pensions | 62 | €770,900 | €706,556 | -€64,345 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,424 | €50,910 | +€5,486 | +12.1% |
| Other operating charges | 640/8 | €8,647 | €9,117 | +€470 | +5.4% |
| Gross operating margin | 9900 | €1,737,552 | €1,684,455 | -€53,097 | -3.1% |
| Operating profit (loss) | 9901 | €912,581 | €917,872 | +€5,291 | +0.6% |
| Financial income | 75/76B | €8,764,751 | €6,201,217 | -€2.6m | -29.2% |
| Recurring financial income | 75 | €8,764,751 | €6,201,217 | -€2.6m | -29.2% |
| Financial charges | 65/66B | €1,567 | €1,739 | +€172 | +11.0% |
| Recurring financial charges | 65 | €1,567 | €1,739 | +€172 | +11.0% |
| Profit (loss) for the period before taxes | 9903 | €9,675,764 | €7,117,350 | -€2.6m | -26.4% |
| Income taxes | 67/77 | €421,391 | €566,274 | +€144,883 | +34.4% |
| Profit (loss) for the period | 9904 | €9,254,373 | €6,551,076 | -€2.7m | -29.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,254,373 | €6,551,076 | -€2.7m | -29.2% |
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 25 October 2026 via checked.be.