LIVA: 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.
LIVA
Largest movements
- Tangible fixed assets -€129,771
down €129,771 (-33.0%), from €393,652 to €263,882
of which Furniture and vehicles: -€89,117
- Deferred charges and accrued income -€74,078
down €74,078 (-94.6%), from €78,316 to €4,238
- Cash +€47,571
up €47,571 (+4.1%), from €1.2m to €1.2m
mainly Net result for the year (+€231,864) and Depreciation (+€131,900)
- Receivables within one year -€29,304
down €29,304 (-7.4%), from €396,608 to €367,304
of which Trade receivables: -€26,018
- Trade debts -€244,133
down €244,133 (-73.6%), from €331,665 to €87,532
- Reserves +€133,860
up €133,860 (+12.1%), from €1.1m to €1.2m
of which Distributable reserves: +€133,860
- Debts after one year -€71,144
down €71,144 (-29.6%), from €240,373 to €169,228
- Staff costs -€501,154
down €501,154 (-19.8%), from €2.5m to €2.0m
- Gross operating margin -€425,201
down €425,201 (-14.5%), from €2.9m to €2.5m
- Taxes +€33,483
up €33,483 (+43.8%), from €76,421 to €109,905
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 | €2,043,867 | €1,858,606 | -€185,261 | -9.1% |
| Fixed assets | 21/28 | €393,652 | €263,882 | -€129,771 | -33.0% |
| Tangible fixed assets | 22/27 | €393,652 | €263,882 | -€129,771 | -33.0% |
| Land and buildings | 22 | €134,862 | €118,170 | -€16,692 | -12.4% |
| Plant, machinery and equipment | 23 | €92,083 | €68,121 | -€23,962 | -26.0% |
| Furniture and vehicles | 24 | €166,707 | €77,590 | -€89,117 | -53.5% |
| Current assets | 29/58 | €1,650,214 | €1,594,725 | -€55,490 | -3.4% |
| Stocks and contracts in progress | 3 | €7,598 | €7,918 | +€320 | +4.2% |
| Stocks | 30/36 | €7,598 | €7,918 | +€320 | +4.2% |
| Amounts receivable within one year | 40/41 | €396,608 | €367,304 | -€29,304 | -7.4% |
| Trade receivables | 40 | €376,123 | €350,104 | -€26,018 | -6.9% |
| Other amounts receivable | 41 | €20,485 | €17,200 | -€3,285 | -16.0% |
| Cash at bank and in hand | 54/58 | €1,167,693 | €1,215,264 | +€47,571 | +4.1% |
| Deferred charges and accrued income | 490/1 | €78,316 | €4,238 | -€74,078 | -94.6% |
| Total equity and liabilities | 10/49 | €2,043,867 | €1,858,606 | -€185,261 | -9.1% |
| Equity | 10/15 | €1,121,463 | €1,255,327 | +€133,864 | +11.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,105,410 | €1,239,270 | +€133,860 | +12.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €1,084,800 | €1,218,660 | +€133,860 | +12.3% |
| Profit (loss) carried forward | 14 | -€2,547 | -€2,543 | +€4 | +0.2% |
| Amounts payable | 17/49 | €922,404 | €603,279 | -€319,125 | -34.6% |
| Amounts payable after more than one year | 17 | €240,373 | €169,228 | -€71,144 | -29.6% |
| Financial debts | 170/4 | €240,373 | €169,228 | -€71,144 | -29.6% |
| Amounts payable within one year | 42/48 | €678,639 | €430,658 | -€247,981 | -36.5% |
| Current portion of amounts payable after more than one year | 42 | €74,898 | €71,144 | -€3,754 | -5.0% |
| Trade debts | 44 | €331,665 | €87,532 | -€244,133 | -73.6% |
| Suppliers | 440/4 | €331,665 | €87,532 | -€244,133 | -73.6% |
| Taxes, remuneration and social security | 45 | €272,076 | €271,982 | -€94 | 0.0% |
| Taxes | 450/3 | €19,286 | €75,559 | +€56,273 | +292% |
| Remuneration and social security | 454/9 | €252,790 | €196,423 | -€56,367 | -22.3% |
| Accrued charges and deferred income | 492/3 | €3,392 | €3,392 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €2,525,345 | €2,024,191 | -€501,154 | -19.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €145,358 | €131,900 | -€13,457 | -9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €11,108 | €0 | -€11,108 | -100% |
| Other operating charges | 640/8 | €16,284 | €16,693 | +€409 | +2.5% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €2,936,057 | €2,510,856 | -€425,201 | -14.5% |
| Operating profit (loss) | 9901 | €237,963 | €338,071 | +€100,108 | +42.1% |
| Financial income | 75/76B | €29,833 | €15,805 | -€14,028 | -47.0% |
| Recurring financial income | 75 | €29,833 | €15,805 | -€14,028 | -47.0% |
| Financial charges | 65/66B | €28,282 | €12,107 | -€16,175 | -57.2% |
| Recurring financial charges | 65 | €28,282 | €12,107 | -€16,175 | -57.2% |
| Profit (loss) for the period before taxes | 9903 | €239,514 | €341,769 | +€102,255 | +42.7% |
| Income taxes | 67/77 | €76,421 | €109,905 | +€33,483 | +43.8% |
| Profit (loss) for the period | 9904 | €163,093 | €231,864 | +€68,771 | +42.2% |
| Profit (loss) for the period to be appropriated | 9905 | €163,093 | €231,864 | +€68,771 | +42.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.