LEVELL CONCEPT: what changed
Two fiscal 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.
LEVELL CONCEPT
Largest movements
- Cash -€293,872
down €293,872 (-76.0%), from €386,489 to €92,617
mainly Receivables within one year (-€278,382) and Advances received (-€32,384)
- Receivables within one year +€278,382
up €278,382 (+756.5%), from €36,797 to €315,179
of which Trade receivables: +€272,921
- Deferred charges and accrued income +€6,859
up €6,859 (+105.8%), from €6,481 to €13,340
- Advances received -€32,384
down €32,384 (-100.0%), from €32,384 to €0
- Reserves +€30,337
up €30,337 (+10.1%), from €299,293 to €329,630
of which Distributable reserves: +€30,337
- Tax, wage and social debts +€20,955
up €20,955 (+483.0%), from €4,339 to €25,294
of which Taxes: +€21,386
- Provisions -€15,000
down €15,000 (-100.0%), from €15,000 to €0
- Other debts -€8,759
down €8,759 (-97.3%), from €9,000 to €241
- Provisions -€15,000
new in 2025: -€15,000
- Write-downs +€14,923
new in 2025: €14,923
- Gross operating margin -€12,128
down €12,128 (-9.8%), from €124,191 to €112,063
- Staff costs -€6,664
down €6,664 (-11.0%), from €60,387 to €53,723
- Financial income +€5,682
up €5,682 (+649.7%), from €875 to €6,557
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 | €457,481 | €444,787 | -€12,694 | -2.8% |
| Fixed assets | 21/28 | €27,714 | €23,651 | -€4,063 | -14.7% |
| Tangible fixed assets | 22/27 | €27,714 | €23,651 | -€4,063 | -14.7% |
| Land and buildings | 22 | €0 | - | = | |
| Furniture and vehicles | 24 | €27,714 | €23,651 | -€4,063 | -14.7% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €429,767 | €421,136 | -€8,631 | -2.0% |
| Amounts receivable within one year | 40/41 | €36,797 | €315,179 | +€278,382 | +756.5% |
| Trade receivables | 40 | €31,160 | €304,081 | +€272,921 | +875.9% |
| Other amounts receivable | 41 | €5,637 | €11,098 | +€5,461 | +96.9% |
| Cash at bank and in hand | 54/58 | €386,489 | €92,617 | -€293,872 | -76.0% |
| Deferred charges and accrued income | 490/1 | €6,481 | €13,340 | +€6,859 | +105.8% |
| Total equity and liabilities | 10/49 | €457,481 | €444,787 | -€12,694 | -2.8% |
| Equity | 10/15 | €362,293 | €392,630 | +€30,337 | +8.4% |
| Contributions | 10/11 | €63,000 | €63,000 | = | 0.0% |
| Capital | 10 | €63,000 | €63,000 | = | 0.0% |
| Issued capital | 100 | €63,000 | €63,000 | = | 0.0% |
| Reserves | 13 | €299,293 | €329,630 | +€30,337 | +10.1% |
| Non-distributable reserves | 130/1 | €6,300 | €6,300 | = | 0.0% |
| Legal reserve | 130 | €6,300 | €6,300 | = | 0.0% |
| Distributable reserves | 133 | €292,993 | €323,330 | +€30,337 | +10.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Provisions and deferred taxes | 16 | €15,000 | €0 | -€15,000 | -100.0% |
| Provisions for liabilities and charges | 160/5 | €15,000 | €0 | -€15,000 | -100.0% |
| Other liabilities and charges | 164/5 | €15,000 | €0 | -€15,000 | -100.0% |
| Amounts payable | 17/49 | €80,188 | €52,156 | -€28,032 | -35.0% |
| Amounts payable within one year | 42/48 | €80,188 | €52,156 | -€28,032 | -35.0% |
| Trade debts | 44 | €34,465 | €26,621 | -€7,843 | -22.8% |
| Suppliers | 440/4 | €34,465 | €26,621 | -€7,843 | -22.8% |
| Advances received on contracts in progress | 46 | €32,384 | €0 | -€32,384 | -100.0% |
| Taxes, remuneration and social security | 45 | €4,339 | €25,294 | +€20,955 | +483.0% |
| Taxes | 450/3 | €261 | €21,647 | +€21,386 | +8208.7% |
| Remuneration and social security | 454/9 | €4,078 | €3,647 | -€431 | -10.6% |
| Other amounts payable | 47/48 | €9,000 | €241 | -€8,759 | -97.3% |
| Non-recurring operating income | 76A | €386,694 | €0 | -€386,694 | -100.0% |
| Remuneration, social security and pensions | 62 | €60,387 | €53,723 | -€6,664 | -11.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,098 | €10,409 | +€311 | +3.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €14,923 | +€14,923 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€15,000 | -€15,000 | |
| Other operating charges | 640/8 | €9,798 | €5,853 | -€3,945 | -40.3% |
| Gross operating margin | 9900 | €124,191 | €112,063 | -€12,128 | -9.8% |
| Operating profit (loss) | 9901 | €43,907 | €42,155 | -€1,752 | -4.0% |
| Financial income | 75/76B | €875 | €6,557 | +€5,682 | +649.7% |
| Recurring financial income | 75 | €875 | €6,557 | +€5,682 | +649.7% |
| Financial charges | 65/66B | €5,200 | €3,868 | -€1,331 | -25.6% |
| Recurring financial charges | 65 | €5,200 | €3,868 | -€1,331 | -25.6% |
| Profit (loss) for the period before taxes | 9903 | €39,582 | €44,844 | +€5,262 | +13.3% |
| Income taxes | 67/77 | €10,121 | €14,506 | +€4,386 | +43.3% |
| Profit (loss) for the period | 9904 | €29,462 | €30,337 | +€876 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €29,462 | €30,337 | +€876 | +3.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.