LEVELFOUR Belgique: 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.
LEVELFOUR Belgique
Largest movements
- Stocks and contracts +€119,203
up €119,203 (+33.8%), from €352,676 to €471,879
- Cash +€52,203
up €52,203 (+89.8%), from €58,112 to €110,316
mainly Other debts (+€241,322) and Current portion of long-term debt (+€150,000)
- Receivables within one year -€47,698
down €47,698 (-14.4%), from €332,153 to €284,455
- Deferred charges and accrued income +€47,099
up €47,099 (+437%), from €10,775 to €57,875
- Tangible fixed assets +€17,488
up €17,488 (+99.7%), from €17,544 to €35,031
of which Furniture and vehicles: +€12,871
- Other debts +€241,322
up €241,322 (+760%), from €31,759 to €273,081
- Current portion of long-term debt +€150,000
up €150,000 (+150%), from €100,000 to €250,000
- Short-term financial debts -€120,000
no longer reported in 2025 (was €120,000)
- Trade debts -€97,533
down €97,533 (-54.3%), from €179,577 to €82,044
- Debts after one year +€21,002
new in 2025: €21,002
- Gross operating margin +€38,986
up €38,986 (+63.9%), from €61,054 to €100,040
- Staff costs +€32,587
up €32,587 (+711%), from €4,581 to €37,168
- Financial charges +€12,846
up €12,846 (+42.1%), from €30,548 to €43,395
- Depreciation +€7,005
up €7,005 (+118%), from €5,915 to €12,919
- Taxes -€5,084
down €5,084 (-40.7%), from €12,505 to €7,421
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 | €771,335 | €959,631 | +€188,296 | +24.4% |
| Fixed assets | 21/28 | €17,618 | €35,106 | +€17,488 | +99.3% |
| Tangible fixed assets | 22/27 | €17,544 | €35,031 | +€17,488 | +99.7% |
| Plant, machinery and equipment | 23 | €11,828 | €16,445 | +€4,617 | +39.0% |
| Furniture and vehicles | 24 | €5,715 | €18,586 | +€12,871 | +225% |
| Financial fixed assets | 28 | €75 | €75 | = | 0.0% |
| Current assets | 29/58 | €753,717 | €924,525 | +€170,808 | +22.7% |
| Stocks and contracts in progress | 3 | €352,676 | €471,879 | +€119,203 | +33.8% |
| Stocks | 30/36 | €352,676 | €471,879 | +€119,203 | +33.8% |
| Amounts receivable within one year | 40/41 | €332,153 | €284,455 | -€47,698 | -14.4% |
| Trade receivables | 40 | €332,153 | €284,455 | -€47,698 | -14.4% |
| Cash at bank and in hand | 54/58 | €58,112 | €110,316 | +€52,203 | +89.8% |
| Deferred charges and accrued income | 490/1 | €10,775 | €57,875 | +€47,099 | +437% |
| Total equity and liabilities | 10/49 | €771,335 | €959,631 | +€188,296 | +24.4% |
| Equity | 10/15 | €242,491 | €237,930 | -€4,561 | -1.9% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,000 | €2,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,000 | €2,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €220,491 | €215,930 | -€4,561 | -2.1% |
| Amounts payable | 17/49 | €528,845 | €721,701 | +€192,857 | +36.5% |
| Amounts payable after more than one year | 17 | - | €21,002 | +€21,002 | |
| Financial debts | 170/4 | - | €21,002 | +€21,002 | |
| Amounts payable within one year | 42/48 | €528,845 | €700,699 | +€171,854 | +32.5% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €250,000 | +€150,000 | +150% |
| Financial debts | 43 | €120,000 | - | -€120,000 | |
| Credit institutions | 430/8 | €120,000 | - | -€120,000 | |
| Trade debts | 44 | €179,577 | €82,044 | -€97,533 | -54.3% |
| Suppliers | 440/4 | €179,577 | €82,044 | -€97,533 | -54.3% |
| Taxes, remuneration and social security | 45 | €97,509 | €95,574 | -€1,935 | -2.0% |
| Taxes | 450/3 | €97,142 | €85,139 | -€12,003 | -12.4% |
| Remuneration and social security | 454/9 | €367 | €10,435 | +€10,068 | +2,744% |
| Other amounts payable | 47/48 | €31,759 | €273,081 | +€241,322 | +760% |
| Remuneration, social security and pensions | 62 | €4,581 | €37,168 | +€32,587 | +711% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,915 | €12,919 | +€7,005 | +118% |
| Other operating charges | 640/8 | €5,791 | €4,119 | -€1,672 | -28.9% |
| Gross operating margin | 9900 | €61,054 | €100,040 | +€38,986 | +63.9% |
| Operating profit (loss) | 9901 | €44,767 | €45,834 | +€1,067 | +2.4% |
| Financial income | 75/76B | €1,055 | €420 | -€635 | -60.2% |
| Recurring financial income | 75 | €1,055 | €420 | -€635 | -60.2% |
| Financial charges | 65/66B | €30,548 | €43,395 | +€12,846 | +42.1% |
| Recurring financial charges | 65 | €30,548 | €43,395 | +€12,846 | +42.1% |
| Profit (loss) for the period before taxes | 9903 | €15,274 | €2,859 | -€12,414 | -81.3% |
| Income taxes | 67/77 | €12,505 | €7,421 | -€5,084 | -40.7% |
| Profit (loss) for the period | 9904 | €2,769 | -€4,561 | -€7,330 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,769 | -€4,561 | -€7,330 |
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.