LEVIAT: 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.
What changed
LEVIAT
NACE 25.402, Manufacture of fabricated metal products, except machinery and equipment
fiscal year 31-12-2024 against 31-12-2025filed annual accounts (NBB)
Net result for the year
€9.6m
31-12-2024 · -€29.1m+€38.6m
Equity
€54.2m
31-12-2024 · €54.6m-€446,200
Cash
€35,036
31-12-2024 · -+€35,036
Balance sheet total
€69.7m
31-12-2024 · €63.2m+€6.4m
Largest movements
Assets
- Receivables within one year +€25.1m
up €25.1m (+139.7%), from €18.0m to €43.1m
of which Other amounts receivable: +€25.0m
- Financial fixed assets -€16.4m
down €16.4m (-48.9%), from €33.7m to €17.2m
of which Affiliated companies: -€16.4m
- Tangible fixed assets -€2.0m
down €2.0m (-39.3%), from €5.0m to €3.0m
of which Land and buildings: -€3.1m
- Stocks and contracts -€753,730
down €753,730 (-11.6%), from €6.5m to €5.7m
of which Stocks: -€769,917
Equity and liabilities
- Other debts +€10.0m
new in 2025: €10.0m
- Trade debts -€3.0m
down €3.0m (-45.5%), from €6.7m to €3.6m
Income statement
- Financial charges -€17.3m
down €17.3m (-51.1%), from €33.9m to €16.6m
of which Non-recurring financial charges: -€17.4m
- Financial income +€7.9m
up €7.9m (+133.1%), from €5.9m to €13.8m
of which Financial income: +€7.9m
- Taxes +€3.6m
up €3.6m (+15039.0%), from €23,793 to €3.6m
- Turnover -€3.2m
down €3.2m (-9.0%), from €36.0m to €32.8m
- Services and other goods -€2.4m
down €2.4m (-25.3%), from €9.6m to €7.2m
From the 31-12-2024 result to the 31-12-2025 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.
Result 31-12-2024
-€29.1m
Turnover
-€3.2m
Other operating income
-€279,047
Goods and materials
+€2.3m
Services and other goods
+€2.4m
Staff costs
+€199,661
Depreciation
+€792
Write-downs
-€44,633
Provisions
-€511,372
Other operating charges
-€106,735
Other operating items
+€16.2m
Financial income
+€7.9m
Financial charges
+€17.3m
Taxes
-€3.6m
Result 31-12-2025
€9.6m
Cash bridge derived
Derived from the 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
-€7.7m
Investment
+€17.7m
Financing
-€10.0m
Cash 31-12-2024
€0
From operations (derived)
-€7.7m
Net result for the year
+€9.6m
Depreciation
+€651,656
Stocks and contracts
+€753,730
Receivables within one year
-€25.1m
Deferred charges and accrued income
-€424,974
Provisions
-€381,015
Trade debts
-€3.0m
Tax, wage and social debts
+€282,734
Other debts
+€10.0m
Investment (derived)
+€17.7m
Investment in fixed assets (net)
+€17.7m
Financing
-€10.0m
Short-term financial debts
+€1,138
Contributions, distributions and other
-€10.0m
Cash 31-12-2025
€35,036
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €63,223,119 | €69,660,803 | +€6.4m | +10.2% |
| Fixed assets | 21/28 | €38,678,114 | €20,277,867 | -€18.4m | -47.6% |
| Intangible fixed assets | 21 | €395 | €17,990 | +€17,595 | +4454.4% |
| Tangible fixed assets | 22/27 | €5,013,970 | €3,043,556 | -€2.0m | -39.3% |
| Land and buildings | 22 | €3,077,735 | - | -€3.1m | |
| Plant, machinery and equipment | 23 | €1,366,089 | €1,304,487 | -€61,602 | -4.5% |
| Furniture and vehicles | 24 | €393,607 | €324,543 | -€69,064 | -17.5% |
| Assets under construction and advance payments | 27 | €176,539 | €1,414,526 | +€1.2m | +701.3% |
| Financial fixed assets | 28 | €33,663,749 | €17,216,321 | -€16.4m | -48.9% |
| Affiliated companies | 280/1 | €33,663,249 | €17,215,821 | -€16.4m | -48.9% |
| Participating interests | 280 | €33,663,249 | €17,215,821 | -€16.4m | -48.9% |
| Other financial fixed assets | 284/8 | €500 | €500 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €24,545,005 | €49,382,936 | +€24.8m | +101.2% |
| Stocks and contracts in progress | 3 | €6,490,708 | €5,736,978 | -€753,730 | -11.6% |
| Stocks | 30/36 | €6,482,365 | €5,712,448 | -€769,917 | -11.9% |
| Raw materials and consumables | 30/31 | €2,327,188 | €2,011,804 | -€315,384 | -13.6% |
| Work in progress | 32 | €546,170 | €579,663 | +€33,493 | +6.1% |
| Finished goods | 33 | €854,574 | €763,366 | -€91,208 | -10.7% |
| Goods purchased for resale | 34 | €2,754,433 | €2,357,615 | -€396,818 | -14.4% |
| Contracts in progress | 37 | €8,343 | €24,530 | +€16,187 | +194.0% |
| Amounts receivable within one year | 40/41 | €17,990,969 | €43,122,620 | +€25.1m | +139.7% |
| Trade receivables | 40 | €6,246,840 | €6,372,274 | +€125,434 | +2.0% |
| Other amounts receivable | 41 | €11,744,129 | €36,750,346 | +€25.0m | +212.9% |
| Cash at bank and in hand | 54/58 | - | €35,036 | +€35,036 | |
| Deferred charges and accrued income | 490/1 | €63,328 | €488,302 | +€424,974 | +671.1% |
| Total equity and liabilities | 10/49 | €63,223,119 | €69,660,803 | +€6.4m | +10.2% |
| Equity | 10/15 | €54,641,214 | €54,195,014 | -€446,200 | -0.8% |
| Contributions | 10/11 | €49,000,000 | €49,000,000 | = | 0.0% |
| Capital | 10 | €49,000,000 | €49,000,000 | = | 0.0% |
| Issued capital | 100 | €49,000,000 | €49,000,000 | = | 0.0% |
| Reserves | 13 | €4,948,936 | €4,948,936 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,900,000 | €4,900,000 | = | 0.0% |
| Legal reserve | 130 | €4,900,000 | €4,900,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €48,936 | €48,936 | = | 0.0% |
| Profit (loss) carried forward | 14 | €692,278 | €246,078 | -€446,200 | -64.5% |
| Provisions and deferred taxes | 16 | €381,015 | - | -€381,015 | |
| Provisions for liabilities and charges | 160/5 | €381,015 | - | -€381,015 | |
| Pensions and similar obligations | 160 | €337,182 | - | -€337,182 | |
| Other liabilities and charges | 164/5 | €43,833 | - | -€43,833 | |
| Amounts payable | 17/49 | €8,200,890 | €15,465,789 | +€7.3m | +88.6% |
| Amounts payable within one year | 42/48 | €8,200,890 | €15,465,789 | +€7.3m | +88.6% |
| Financial debts | 43 | - | €1,138 | +€1,138 | |
| Credit institutions | 430/8 | - | €1,138 | +€1,138 | |
| Trade debts | 44 | €6,678,392 | €3,638,770 | -€3.0m | -45.5% |
| Suppliers | 440/4 | €6,678,392 | €3,638,770 | -€3.0m | -45.5% |
| Taxes, remuneration and social security | 45 | €1,522,498 | €1,805,232 | +€282,734 | +18.6% |
| Taxes | 450/3 | €28,963 | €428,827 | +€399,864 | +1380.6% |
| Remuneration and social security | 454/9 | €1,493,535 | €1,376,405 | -€117,130 | -7.8% |
| Other amounts payable | 47/48 | - | €10,020,649 | +€10.0m | |
| Operating income | 70/76A | €37,734,557 | €50,415,016 | +€12.7m | +33.6% |
| Turnover | 70 | €35,992,772 | €32,763,109 | -€3.2m | -9.0% |
| Other operating income | 74 | €1,727,485 | €1,448,438 | -€279,047 | -16.2% |
| Non-recurring operating income | 76A | €14,300 | €16,203,469 | +€16.2m | +113211.0% |
| Operating charges | 60/66A | €38,791,298 | €34,503,821 | -€4.3m | -11.1% |
| Goods for resale, raw materials and consumables | 60 | €17,731,819 | €15,416,025 | -€2.3m | -13.1% |
| Purchases | 600/8 | €17,084,669 | €14,684,717 | -€2.4m | -14.0% |
| Change in stocks: decrease (increase) | 609 | €647,150 | €731,308 | +€84,158 | +13.0% |
| Services and other goods | 61 | €9,630,395 | €7,196,425 | -€2.4m | -25.3% |
| Remuneration, social security and pensions | 62 | €11,475,685 | €11,276,024 | -€199,661 | -1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €652,448 | €651,656 | -€792 | -0.1% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€27,400 | €17,233 | +€44,633 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€892,386 | -€381,014 | +€511,372 | +57.3% |
| Other operating charges | 640/8 | €220,737 | €327,472 | +€106,735 | +48.4% |
| Operating profit (loss) | 9901 | -€1,056,741 | €15,911,195 | +€17.0m | |
| Financial income | 75/76B | €5,926,343 | €13,816,877 | +€7.9m | +133.1% |
| Recurring financial income | 75 | €5,926,274 | €13,816,151 | +€7.9m | +133.1% |
| Income from financial fixed assets | 750 | €5,000,000 | €13,500,000 | +€8.5m | +170.0% |
| Other financial income | 752/9 | €926,274 | €316,151 | -€610,123 | -65.9% |
| Non-recurring financial income | 76B | €69 | €726 | +€657 | +952.2% |
| Financial charges | 65/66B | €33,901,322 | €16,572,259 | -€17.3m | -51.1% |
| Recurring financial charges | 65 | €101,322 | €124,931 | +€23,609 | +23.3% |
| Debt charges | 650 | €39,486 | €58,077 | +€18,591 | +47.1% |
| Other financial charges | 652/9 | €61,836 | €66,854 | +€5,018 | +8.1% |
| Non-recurring financial charges | 66B | €33,800,000 | €16,447,328 | -€17.4m | -51.3% |
| Profit (loss) for the period before taxes | 9903 | -€29,031,720 | €13,155,813 | +€42.2m | |
| Income taxes | 67/77 | €23,793 | €3,602,013 | +€3.6m | +15039.0% |
| Taxes | 670/3 | €23,793 | €3,602,013 | +€3.6m | +15039.0% |
| Profit (loss) for the period | 9904 | -€29,055,513 | €9,553,800 | +€38.6m | |
| Profit (loss) for the period to be appropriated | 9905 | -€29,055,513 | €9,553,800 | +€38.6m |
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 2 October 2026 via checked.be.