Levey Kwok: 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.
Levey Kwok
Largest movements
- Cash +€98,899
up €98,899 (+118%), from €83,967 to €182,866
mainly Other debts (+€198,062) and Net result for the year (+€80,833)
- Receivables within one year +€45,773
up €45,773 (+68.9%), from €66,462 to €112,235
of which Trade receivables: +€75,645
- Tangible fixed assets -€13,188
down €13,188 (-13.6%), from €97,070 to €83,882
of which Other tangible fixed assets: -€8,328
- Other debts +€198,062
up €198,062 (+5,567%), from €3,558 to €201,619
- Reserves -€140,284
down €140,284 (-98.7%), from €142,144 to €1,860
of which Distributable reserves: -€140,284
- Trade debts +€54,863
up €54,863 (+143%), from €38,402 to €93,265
- Profit (loss) carried forward +€21,117
up €21,117 (+104%), from €20,269 to €41,386
- Tax, wage and social debts +€10,031
new in 2025: €10,031
- Gross operating margin +€79,373
up €79,373 (+155%), from €51,328 to €130,701
- Taxes +€21,339
up €21,339 (+243%), from €8,778 to €30,116
- Write-downs -€3,536
down €3,536 (-100%), from €3,536 to €0
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 | €271,130 | €404,189 | +€133,059 | +49.1% |
| Fixed assets | 21/28 | €97,070 | €83,882 | -€13,188 | -13.6% |
| Tangible fixed assets | 22/27 | €97,070 | €83,882 | -€13,188 | -13.6% |
| Plant, machinery and equipment | 23 | €11,483 | €6,165 | -€5,318 | -46.3% |
| Furniture and vehicles | 24 | €7,499 | €7,958 | +€459 | +6.1% |
| Other tangible fixed assets | 26 | €78,088 | €69,759 | -€8,328 | -10.7% |
| Current assets | 29/58 | €174,060 | €320,307 | +€146,247 | +84.0% |
| Stocks and contracts in progress | 3 | €21,661 | €21,661 | = | 0.0% |
| Stocks | 30/36 | €21,661 | €21,661 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €66,462 | €112,235 | +€45,773 | +68.9% |
| Trade receivables | 40 | €23,569 | €99,213 | +€75,645 | +321% |
| Other amounts receivable | 41 | €42,894 | €13,022 | -€29,872 | -69.6% |
| Cash at bank and in hand | 54/58 | €83,967 | €182,866 | +€98,899 | +118% |
| Deferred charges and accrued income | 490/1 | €1,970 | €3,545 | +€1,575 | +79.9% |
| Total equity and liabilities | 10/49 | €271,130 | €404,189 | +€133,059 | +49.1% |
| Equity | 10/15 | €181,014 | €61,846 | -€119,167 | -65.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €142,144 | €1,860 | -€140,284 | -98.7% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €140,284 | €0 | -€140,284 | -100% |
| Profit (loss) carried forward | 14 | €20,269 | €41,386 | +€21,117 | +104% |
| Amounts payable | 17/49 | €90,116 | €342,343 | +€252,227 | +280% |
| Amounts payable after more than one year | 17 | €17,378 | €10,020 | -€7,358 | -42.3% |
| Financial debts | 170/4 | €17,378 | €10,020 | -€7,358 | -42.3% |
| Amounts payable within one year | 42/48 | €63,751 | €324,077 | +€260,326 | +408% |
| Current portion of amounts payable after more than one year | 42 | €19,042 | €19,161 | +€120 | +0.6% |
| Trade debts | 44 | €38,402 | €93,265 | +€54,863 | +143% |
| Suppliers | 440/4 | €38,402 | €93,265 | +€54,863 | +143% |
| Advances received on contracts in progress | 46 | €2,750 | €0 | -€2,750 | -100% |
| Taxes, remuneration and social security | 45 | - | €10,031 | +€10,031 | |
| Taxes | 450/3 | - | €10,031 | +€10,031 | |
| Other amounts payable | 47/48 | €3,558 | €201,619 | +€198,062 | +5,567% |
| Accrued charges and deferred income | 492/3 | €8,987 | €8,245 | -€742 | -8.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,479 | €16,972 | +€492 | +3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,536 | €0 | -€3,536 | -100% |
| Other operating charges | 640/8 | - | €150 | +€150 | |
| Gross operating margin | 9900 | €51,328 | €130,701 | +€79,373 | +155% |
| Operating profit (loss) | 9901 | €31,312 | €113,579 | +€82,267 | +263% |
| Financial income | 75/76B | €327 | €427 | +€100 | +30.5% |
| Recurring financial income | 75 | €327 | €427 | +€100 | +30.5% |
| Financial charges | 65/66B | €2,593 | €3,058 | +€465 | +17.9% |
| Recurring financial charges | 65 | €2,593 | €3,058 | +€465 | +17.9% |
| Profit (loss) for the period before taxes | 9903 | €29,047 | €110,949 | +€81,902 | +282% |
| Income taxes | 67/77 | €8,778 | €30,116 | +€21,339 | +243% |
| Profit (loss) for the period | 9904 | €20,269 | €80,833 | +€60,564 | +299% |
| Profit (loss) for the period to be appropriated | 9905 | €20,269 | €80,833 | +€60,564 | +299% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.