LEVHEL: what changed
LEVHEL
Largest movements
- Tangible fixed assets -€19,249
down €19,249 (-16.4%), from €117,637 to €98,388
of which Other tangible fixed assets: -€16,987
- Receivables within one year +€7,345
up €7,345 (+19.0%), from €38,665 to €46,011
of which Trade receivables: +€4,797
- Cash +€6,217
up €6,217 (+118%), from €5,280 to €11,496
mainly Depreciation (+€21,799) and Tax, wage and social debts (+€6,997)
- Debts after one year -€15,294
down €15,294 (-18.2%), from €83,903 to €68,609
- Tax, wage and social debts +€6,997
up €6,997 (+166%), from €4,218 to €11,215
- Short-term financial debts +€3,990
up €3,990 (+68.8%), from €5,797 to €9,787
- Current portion of long-term debt -€3,831
down €3,831 (-25.0%), from €15,306 to €11,475
- Gross operating margin -€3,275
down €3,275 (-13.0%), from €25,244 to €21,968
- Financial income +€2,283
up €2,283 (+50.8%), from €4,496 to €6,779
- Depreciation +€1,050
up €1,050 (+5.1%), from €20,749 to €21,799
- Taxes -€581
down €581 (-22.1%), from €2,634 to €2,053
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €248,894 | €242,282 | -€6,613 | -2.7% |
| Fixed assets | 21/28 | €117,637 | €98,388 | -€19,249 | -16.4% |
| Tangible fixed assets | 22/27 | €117,637 | €98,388 | -€19,249 | -16.4% |
| Plant, machinery and equipment | 23 | €15,265 | €13,537 | -€1,729 | -11.3% |
| Furniture and vehicles | 24 | €734 | €200 | -€534 | -72.7% |
| Other tangible fixed assets | 26 | €101,638 | €84,651 | -€16,987 | -16.7% |
| Current assets | 29/58 | €131,258 | €143,894 | +€12,636 | +9.6% |
| Amounts receivable after more than one year | 29 | €76,500 | €76,500 | = | 0.0% |
| Other amounts receivable | 291 | €76,500 | €76,500 | = | 0.0% |
| Stocks and contracts in progress | 3 | €9,912 | €8,910 | -€1,002 | -10.1% |
| Stocks | 30/36 | €9,912 | €8,910 | -€1,002 | -10.1% |
| Amounts receivable within one year | 40/41 | €38,665 | €46,011 | +€7,345 | +19.0% |
| Trade receivables | 40 | €31,026 | €35,823 | +€4,797 | +15.5% |
| Other amounts receivable | 41 | €7,639 | €10,188 | +€2,549 | +33.4% |
| Cash at bank and in hand | 54/58 | €5,280 | €11,496 | +€6,217 | +118% |
| Deferred charges and accrued income | 490/1 | €900 | €977 | +€76 | +8.5% |
| Total equity and liabilities | 10/49 | €248,894 | €242,282 | -€6,613 | -2.7% |
| Equity | 10/15 | €113,806 | €113,642 | -€164 | -0.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €56,296 | €56,296 | = | 0.0% |
| Distributable reserves | 133 | €56,296 | €56,296 | = | 0.0% |
| Profit (loss) carried forward | 14 | €38,910 | €38,746 | -€164 | -0.4% |
| Amounts payable | 17/49 | €135,089 | €128,640 | -€6,449 | -4.8% |
| Amounts payable after more than one year | 17 | €83,903 | €68,609 | -€15,294 | -18.2% |
| Financial debts | 170/4 | €83,903 | €68,609 | -€15,294 | -18.2% |
| Amounts payable within one year | 42/48 | €51,186 | €60,031 | +€8,846 | +17.3% |
| Current portion of amounts payable after more than one year | 42 | €15,306 | €11,475 | -€3,831 | -25.0% |
| Financial debts | 43 | €5,797 | €9,787 | +€3,990 | +68.8% |
| Credit institutions | 430/8 | €5,797 | €9,787 | +€3,990 | +68.8% |
| Trade debts | 44 | €14,613 | €16,303 | +€1,690 | +11.6% |
| Suppliers | 440/4 | €14,613 | €16,303 | +€1,690 | +11.6% |
| Advances received on contracts in progress | 46 | €11,251 | €11,251 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €4,218 | €11,215 | +€6,997 | +166% |
| Taxes | 450/3 | €4,218 | €11,215 | +€6,997 | +166% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,749 | €21,799 | +€1,050 | +5.1% |
| Other operating charges | 640/8 | €638 | €841 | +€202 | +31.7% |
| Gross operating margin | 9900 | €25,244 | €21,968 | -€3,275 | -13.0% |
| Operating profit (loss) | 9901 | €3,856 | -€672 | -€4,528 | |
| Financial income | 75/76B | €4,496 | €6,779 | +€2,283 | +50.8% |
| Recurring financial income | 75 | €4,496 | €6,779 | +€2,283 | +50.8% |
| Financial charges | 65/66B | €4,287 | €4,218 | -€68 | -1.6% |
| Recurring financial charges | 65 | €4,287 | €4,218 | -€68 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €4,066 | €1,889 | -€2,177 | -53.5% |
| Income taxes | 67/77 | €2,634 | €2,053 | -€581 | -22.1% |
| Profit (loss) for the period | 9904 | €1,432 | -€164 | -€1,596 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,432 | -€164 | -€1,596 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.