LEVEL ART: 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.
LEVEL ART
Largest movements
- Receivables within one year +€87,236
up €87,236 (+932.1%), from €9,359 to €96,595
of which Trade receivables: +€88,352
- Tangible fixed assets +€41,472
up €41,472 (+520.5%), from €7,967 to €49,439
of which Furniture and vehicles: +€41,691
- Cash -€4,404
down €4,404 (-16.2%), from €27,232 to €22,828
mainly Receivables within one year (-€87,236) and Investment in fixed assets (net) (-€61,890)
- Trade debts +€47,066
up €47,066 (+227.3%), from €20,709 to €67,774
of which Bills of exchange payable: +€33,379
- Profit (loss) carried forward +€28,670
up €28,670 (+222.0%), from €12,913 to €41,583
- Debts after one year +€23,556
new in 2025: €23,556
- Current portion of long-term debt +€14,095
new in 2025: €14,095
- Tax, wage and social debts +€9,847
up €9,847 (+154.0%), from €6,396 to €16,243
of which Remuneration and social security: +€7,000
- Turnover +€448,434
up €448,434 (+275.4%), from €162,810 to €611,244
- Purchases and services +€411,440
up €411,440 (+287.7%), from €143,026 to €554,467
- Gross operating margin +€36,994
up €36,994 (+187.0%), from €19,784 to €56,777
- Depreciation +€19,554
up €19,554 (+2264.5%), from €864 to €20,418
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.
Cash bridge derived
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 | €44,558 | €168,863 | +€124,304 | +279.0% |
| Fixed assets | 21/28 | €7,967 | €49,439 | +€41,472 | +520.5% |
| Tangible fixed assets | 22/27 | €7,967 | €49,439 | +€41,472 | +520.5% |
| Plant, machinery and equipment | 23 | €876 | €657 | -€219 | -25.0% |
| Furniture and vehicles | 24 | €7,092 | €48,783 | +€41,691 | +587.9% |
| Current assets | 29/58 | €36,591 | €119,423 | +€82,832 | +226.4% |
| Amounts receivable within one year | 40/41 | €9,359 | €96,595 | +€87,236 | +932.1% |
| Trade receivables | 40 | €3,343 | €91,695 | +€88,352 | +2643.0% |
| Other amounts receivable | 41 | €6,016 | €4,900 | -€1,116 | -18.5% |
| Cash at bank and in hand | 54/58 | €27,232 | €22,828 | -€4,404 | -16.2% |
| Total equity and liabilities | 10/49 | €44,558 | €168,863 | +€124,304 | +279.0% |
| Equity | 10/15 | €16,913 | €45,583 | +€28,670 | +169.5% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,913 | €41,583 | +€28,670 | +222.0% |
| Amounts payable | 17/49 | €27,645 | €123,280 | +€95,635 | +345.9% |
| Amounts payable after more than one year | 17 | - | €23,556 | +€23,556 | |
| Financial debts | 170/4 | - | €23,556 | +€23,556 | |
| Amounts payable within one year | 42/48 | €27,645 | €99,724 | +€72,078 | +260.7% |
| Current portion of amounts payable after more than one year | 42 | - | €14,095 | +€14,095 | |
| Trade debts | 44 | €20,709 | €67,774 | +€47,066 | +227.3% |
| Suppliers | 440/4 | - | €13,687 | +€13,687 | |
| Bills of exchange payable | 441 | €20,709 | €54,088 | +€33,379 | +161.2% |
| Taxes, remuneration and social security | 45 | €6,396 | €16,243 | +€9,847 | +154.0% |
| Taxes | 450/3 | €4,396 | €7,243 | +€2,847 | +64.8% |
| Remuneration and social security | 454/9 | €2,000 | €9,000 | +€7,000 | +350.0% |
| Other amounts payable | 47/48 | €541 | €1,612 | +€1,071 | +198.1% |
| Turnover | 70 | €162,810 | €611,244 | +€448,434 | +275.4% |
| Goods, raw materials, services and sundry goods | 60/61 | €143,026 | €554,467 | +€411,440 | +287.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €864 | €20,418 | +€19,554 | +2264.5% |
| Other operating charges | 640/8 | €522 | €128 | -€395 | -75.6% |
| Gross operating margin | 9900 | €19,784 | €56,777 | +€36,994 | +187.0% |
| Operating profit (loss) | 9901 | €18,398 | €36,232 | +€17,834 | +96.9% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €1,089 | €321 | -€768 | -70.6% |
| Recurring financial charges | 65 | €1,089 | €321 | -€768 | -70.6% |
| Profit (loss) for the period before taxes | 9903 | €17,309 | €35,912 | +€18,603 | +107.5% |
| Income taxes | 67/77 | €4,396 | €7,243 | +€2,847 | +64.8% |
| Profit (loss) for the period | 9904 | €12,913 | €28,670 | +€15,756 | +122.0% |
| Profit (loss) for the period to be appropriated | 9905 | €12,913 | €28,670 | +€15,756 | +122.0% |
Source: filed annual accounts (NBB), financial years ended 31 May 2024 and 31 May 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.