LIVACO: 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.
What changed
LIVACO
NACE 68.310, Real estate agency activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€2.5m
2024 · €1.8m+€713,815
Equity
€16.2m
2024 · €15.7m+€470,952
Cash
€1.0m
2024 · €509,973+€535,947
Balance sheet total
€35.5m
2024 · €37.9m-€2.3m
Largest movements
Assets
- Receivables within one year -€9.8m
down €9.8m (-76.7%), from €12.7m to €3.0m
of which Other amounts receivable: -€10.2m
- Financial fixed assets +€5.2m
up €5.2m (+97.5%), from €5.4m to €10.6m
- Stocks and contracts +€1.7m
up €1.7m (+8.6%), from €19.3m to €20.9m
- Cash +€535,947
up €535,947 (+105%), from €509,973 to €1.0m
mainly Receivables within one year (+€9.8m) and Short-term financial debts (+€5.7m)
Equity and liabilities
- Other debts -€9.2m
down €9.2m (-60.2%), from €15.2m to €6.1m
- Short-term financial debts +€5.7m
up €5.7m (+90.3%), from €6.4m to €12.1m
- Profit (loss) carried forward +€470,952
up €470,952 (+3.2%), from €14.8m to €15.2m
Income statement
- Turnover +€1.8m
up €1.8m (+36.3%), from €5.0m to €6.8m
- Gross operating margin +€1.5m
up €1.5m (+84.7%), from €1.8m to €3.4m
- Financial income -€674,396
down €674,396 (-58.8%), from €1.1m to €473,046
- Taxes +€283,896
up €283,896 (+48.5%), from €585,889 to €869,784
- Purchases and services +€133,727
up €133,727 (+3.9%), from €3.4m to €3.6m
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.
Result 2024
€1.8m
Gross operating margin
+€1.5m
Staff costs
-€6,118
Depreciation
+€0
Write-downs
+€26,125
Other operating charges
+€422
Financial income
-€674,396
Financial charges
+€109,815
Taxes
-€283,896
Result 2025
€2.5m
raises the resultlowers the result
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.
From operations
+€1.8m
Investment
-€5.2m
Financing
+€3.9m
Cash 2024
€509,973
From operations (derived)
+€1.8m
Net result for the year
+€2.5m
Depreciation
+€437
Stocks and contracts
-€1.7m
Receivables within one year
+€9.8m
Deferred charges and accrued income
-€2
Trade debts
-€77,214
Tax, wage and social debts
+€284,087
Advances received
+€221,904
Other debts
-€9.2m
Investment (derived)
-€5.2m
Investment in fixed assets (net)
-€5.2m
Financing
+€3.9m
Debts after one year
+€188,250
Short-term financial debts
+€5.7m
Contributions, distributions and other
-€2.0m
Cash 2025
€1.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €37,869,880 | €35,529,894 | -€2.3m | -6.2% |
| Fixed assets | 21/28 | €5,363,219 | €10,591,969 | +€5.2m | +97.5% |
| Tangible fixed assets | 22/27 | €1,206 | €769 | -€437 | -36.3% |
| Plant, machinery and equipment | 23 | €1,206 | €769 | -€437 | -36.3% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €5,362,013 | €10,591,200 | +€5.2m | +97.5% |
| Current assets | 29/58 | €32,506,661 | €24,937,925 | -€7.6m | -23.3% |
| Stocks and contracts in progress | 3 | €19,272,306 | €20,929,092 | +€1.7m | +8.6% |
| Stocks | 30/36 | €19,272,306 | €20,929,092 | +€1.7m | +8.6% |
| Amounts receivable within one year | 40/41 | €12,724,298 | €2,962,826 | -€9.8m | -76.7% |
| Trade receivables | 40 | €500,635 | €904,403 | +€403,767 | +80.7% |
| Other amounts receivable | 41 | €12,223,662 | €2,058,424 | -€10.2m | -83.2% |
| Cash at bank and in hand | 54/58 | €509,973 | €1,045,921 | +€535,947 | +105% |
| Deferred charges and accrued income | 490/1 | €84 | €86 | +€2 | +2.0% |
| Total equity and liabilities | 10/49 | €37,869,880 | €35,529,894 | -€2.3m | -6.2% |
| Equity | 10/15 | €15,709,139 | €16,180,091 | +€470,952 | +3.0% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €889,150 | €889,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Tax-exempt reserves | 132 | €443,593 | €443,593 | = | 0.0% |
| Distributable reserves | 133 | €439,407 | €439,407 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,758,489 | €15,229,441 | +€470,952 | +3.2% |
| Provisions and deferred taxes | 16 | €147,864 | €147,864 | = | 0.0% |
| Deferred taxes | 168 | €147,864 | €147,864 | = | 0.0% |
| Amounts payable | 17/49 | €22,012,877 | €19,201,939 | -€2.8m | -12.8% |
| Amounts payable after more than one year | 17 | €90,780 | €279,029 | +€188,250 | +207% |
| Other amounts payable | 178/9 | €90,780 | €279,029 | +€188,250 | +207% |
| Amounts payable within one year | 42/48 | €21,922,097 | €18,922,909 | -€3.0m | -13.7% |
| Financial debts | 43 | €6,361,750 | €12,106,644 | +€5.7m | +90.3% |
| Credit institutions | 430/8 | €6,361,750 | €12,106,644 | +€5.7m | +90.3% |
| Trade debts | 44 | €209,192 | €131,978 | -€77,214 | -36.9% |
| Suppliers | 440/4 | €209,192 | €131,978 | -€77,214 | -36.9% |
| Advances received on contracts in progress | 46 | €0 | €221,904 | +€221,904 | |
| Taxes, remuneration and social security | 45 | €107,023 | €391,109 | +€284,087 | +265% |
| Taxes | 450/3 | €86,434 | €369,784 | +€283,351 | +328% |
| Remuneration and social security | 454/9 | €20,589 | €21,325 | +€736 | +3.6% |
| Other amounts payable | 47/48 | €15,244,132 | €6,071,273 | -€9.2m | -60.2% |
| Turnover | 70 | €4,981,996 | €6,788,679 | +€1.8m | +36.3% |
| Non-recurring operating income | 76A | €1,270 | €0 | -€1,270 | -100% |
| Goods, raw materials, services and sundry goods | 60/61 | €3,429,889 | €3,563,616 | +€133,727 | +3.9% |
| Remuneration, social security and pensions | 62 | €180,230 | €186,348 | +€6,118 | +3.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €437 | €437 | -€0 | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€26,125 | -€26,125 | |
| Other operating charges | 640/8 | €1,384 | €962 | -€422 | -30.5% |
| Gross operating margin | 9900 | €1,819,885 | €3,361,746 | +€1.5m | +84.7% |
| Operating profit (loss) | 9901 | €1,637,833 | €3,200,124 | +€1.6m | +95.4% |
| Financial income | 75/76B | €1,147,441 | €473,046 | -€674,396 | -58.8% |
| Recurring financial income | 75 | €1,147,441 | €473,046 | -€674,396 | -58.8% |
| Financial charges | 65/66B | €442,249 | €332,434 | -€109,815 | -24.8% |
| Recurring financial charges | 65 | €442,249 | €332,434 | -€109,815 | -24.8% |
| Profit (loss) for the period before taxes | 9903 | €2,343,026 | €3,340,736 | +€997,710 | +42.6% |
| Income taxes | 67/77 | €585,889 | €869,784 | +€283,896 | +48.5% |
| Profit (loss) for the period | 9904 | €1,757,137 | €2,470,952 | +€713,815 | +40.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,757,137 | €2,470,952 | +€713,815 | +40.6% |
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 26 October 2026 via checked.be.