LIVA: 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.
LIVA
Largest movements
- Tangible fixed assets +€104,879
up €104,879 (+150.3%), from €69,791 to €174,670
of which Other tangible fixed assets: +€102,908
- Financial fixed assets +€33,901
up €33,901 (+113.0%), from €30,000 to €63,901
- Receivables within one year +€32,016
up €32,016 (+180.1%), from €17,776 to €49,792
of which Other amounts receivable: +€20,859
- Cash -€13,992
down €13,992 (-26.7%), from €52,465 to €38,474
mainly Investment in fixed assets (net) (-€162,466) and Receivables within one year (-€32,016)
- Other debts +€126,736
up €126,736 (+2033.2%), from €6,233 to €132,970
- Trade debts +€15,735
up €15,735 (+49.4%), from €31,862 to €47,597
- Tax, wage and social debts +€11,292
up €11,292 (+27.9%), from €40,528 to €51,820
of which Remuneration and social security: +€9,485
- Profit (loss) carried forward +€3,946
new in 2025: €3,946
- Gross operating margin -€60,300
down €60,300 (-35.5%), from €169,942 to €109,642
- Staff costs +€38,349
up €38,349 (+89.4%), from €42,913 to €81,262
- Taxes -€38,033
no longer reported in 2025 (was €38,033)
- Depreciation +€12,127
up €12,127 (+104.9%), from €11,559 to €23,686
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 | €172,914 | €330,623 | +€157,709 | +91.2% |
| Fixed assets | 21/28 | €99,791 | €238,571 | +€138,780 | +139.1% |
| Tangible fixed assets | 22/27 | €69,791 | €174,670 | +€104,879 | +150.3% |
| Plant, machinery and equipment | 23 | - | €1,971 | +€1,971 | |
| Other tangible fixed assets | 26 | €69,791 | €172,699 | +€102,908 | +147.5% |
| Financial fixed assets | 28 | €30,000 | €63,901 | +€33,901 | +113.0% |
| Current assets | 29/58 | €73,123 | €92,052 | +€18,929 | +25.9% |
| Stocks and contracts in progress | 3 | €1,282 | €3,787 | +€2,505 | +195.4% |
| Stocks | 30/36 | €1,282 | €3,787 | +€2,505 | +195.4% |
| Amounts receivable within one year | 40/41 | €17,776 | €49,792 | +€32,016 | +180.1% |
| Trade receivables | 40 | €3,525 | €14,681 | +€11,156 | +316.5% |
| Other amounts receivable | 41 | €14,251 | €35,110 | +€20,859 | +146.4% |
| Cash at bank and in hand | 54/58 | €52,465 | €38,474 | -€13,992 | -26.7% |
| Deferred charges and accrued income | 490/1 | €1,600 | - | -€1,600 | |
| Total equity and liabilities | 10/49 | €172,914 | €330,623 | +€157,709 | +91.2% |
| Equity | 10/15 | €94,291 | €98,236 | +€3,946 | +4.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,691 | €75,691 | = | 0.0% |
| Distributable reserves | 133 | €75,691 | €75,691 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €3,946 | +€3,946 | |
| Amounts payable | 17/49 | €78,624 | €232,387 | +€153,763 | +195.6% |
| Amounts payable within one year | 42/48 | €78,624 | €232,387 | +€153,763 | +195.6% |
| Trade debts | 44 | €31,862 | €47,597 | +€15,735 | +49.4% |
| Suppliers | 440/4 | €31,862 | €47,597 | +€15,735 | +49.4% |
| Taxes, remuneration and social security | 45 | €40,528 | €51,820 | +€11,292 | +27.9% |
| Taxes | 450/3 | €40,528 | €42,335 | +€1,807 | +4.5% |
| Remuneration and social security | 454/9 | - | €9,485 | +€9,485 | |
| Other amounts payable | 47/48 | €6,233 | €132,970 | +€126,736 | +2033.2% |
| Remuneration, social security and pensions | 62 | €42,913 | €81,262 | +€38,349 | +89.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,559 | €23,686 | +€12,127 | +104.9% |
| Other operating charges | 640/8 | €564 | €679 | +€115 | +20.3% |
| Gross operating margin | 9900 | €169,942 | €109,642 | -€60,300 | -35.5% |
| Operating profit (loss) | 9901 | €114,907 | €4,016 | -€110,891 | -96.5% |
| Financial charges | 65/66B | €209 | €71 | -€139 | -66.3% |
| Recurring financial charges | 65 | €209 | €71 | -€139 | -66.3% |
| Profit (loss) for the period before taxes | 9903 | €114,698 | €3,946 | -€110,752 | -96.6% |
| Income taxes | 67/77 | €38,033 | - | -€38,033 | |
| Profit (loss) for the period | 9904 | €76,665 | €3,946 | -€72,719 | -94.9% |
| Profit (loss) for the period to be appropriated | 9905 | €76,665 | €3,946 | -€72,719 | -94.9% |
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 6 October 2026 via checked.be.