LIVAM: 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.
LIVAM
Largest movements
- Tangible fixed assets +€30,964
up €30,964 (+22.1%), from €139,994 to €170,958
of which Leasing and similar rights: +€56,234
- Trade debts +€37,503
up €37,503 (+134%), from €27,913 to €65,415
- Debts after one year -€33,562
down €33,562 (-40.7%), from €82,521 to €48,959
of which Other amounts payable: -€60,000
- Other debts +€15,809
up €15,809 (+9.5%), from €165,851 to €181,660
- Reserves +€5,700
up €5,700 (+156%), from €3,647 to €9,346
- Current portion of long-term debt +€4,492
up €4,492 (+39.2%), from €11,450 to €15,942
- Taxes -€2,713
down €2,713 (-26.4%), from €10,269 to €7,557
- Gross operating margin -€1,229
down €1,229 (-2.1%), from €58,750 to €57,521
- Financial income -€636
down €636 (-14.1%), from €4,502 to €3,866
- Depreciation -€632
down €632 (-1.8%), from €36,091 to €35,459
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 | €316,236 | €351,931 | +€35,695 | +11.3% |
| Fixed assets | 21/28 | €140,224 | €171,188 | +€30,964 | +22.1% |
| Tangible fixed assets | 22/27 | €139,994 | €170,958 | +€30,964 | +22.1% |
| Plant, machinery and equipment | 23 | €36,201 | €34,276 | -€1,925 | -5.3% |
| Furniture and vehicles | 24 | €95,923 | €72,844 | -€23,078 | -24.1% |
| Leasing and similar rights | 25 | €5,380 | €61,614 | +€56,234 | +1,045% |
| Other tangible fixed assets | 26 | €2,491 | €2,224 | -€267 | -10.7% |
| Financial fixed assets | 28 | €230 | €230 | = | 0.0% |
| Current assets | 29/58 | €176,012 | €180,743 | +€4,731 | +2.7% |
| Amounts receivable within one year | 40/41 | €173,908 | €176,410 | +€2,502 | +1.4% |
| Trade receivables | 40 | €85,132 | €116,707 | +€31,575 | +37.1% |
| Other amounts receivable | 41 | €88,776 | €59,703 | -€29,073 | -32.7% |
| Cash at bank and in hand | 54/58 | €0 | - | = | |
| Deferred charges and accrued income | 490/1 | €2,104 | €4,333 | +€2,229 | +106% |
| Total equity and liabilities | 10/49 | €316,236 | €351,931 | +€35,695 | +11.3% |
| Equity | 10/15 | €9,847 | €15,546 | +€5,700 | +57.9% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €3,647 | €9,346 | +€5,700 | +156% |
| Distributable reserves | 133 | €3,647 | €9,346 | +€5,700 | +156% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €306,390 | €336,385 | +€29,995 | +9.8% |
| Amounts payable after more than one year | 17 | €82,521 | €48,959 | -€33,562 | -40.7% |
| Financial debts | 170/4 | €22,521 | €48,959 | +€26,438 | +117% |
| Other amounts payable | 178/9 | €60,000 | €0 | -€60,000 | -100% |
| Amounts payable within one year | 42/48 | €223,868 | €287,426 | +€63,558 | +28.4% |
| Current portion of amounts payable after more than one year | 42 | €11,450 | €15,942 | +€4,492 | +39.2% |
| Financial debts | 43 | €1,493 | €658 | -€835 | -55.9% |
| Credit institutions | 430/8 | €1,493 | €658 | -€835 | -55.9% |
| Trade debts | 44 | €27,913 | €65,415 | +€37,503 | +134% |
| Suppliers | 440/4 | €27,913 | €65,415 | +€37,503 | +134% |
| Advances received on contracts in progress | 46 | €185 | €3,885 | +€3,700 | +2,001% |
| Taxes, remuneration and social security | 45 | €16,977 | €19,865 | +€2,888 | +17.0% |
| Taxes | 450/3 | €16,977 | €19,865 | +€2,888 | +17.0% |
| Other amounts payable | 47/48 | €165,851 | €181,660 | +€15,809 | +9.5% |
| Non-recurring operating income | 76A | €0 | €10,156 | +€10,156 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,091 | €35,459 | -€632 | -1.8% |
| Other operating charges | 640/8 | €1,760 | €1,927 | +€167 | +9.5% |
| Gross operating margin | 9900 | €58,750 | €57,521 | -€1,229 | -2.1% |
| Operating profit (loss) | 9901 | €20,899 | €20,135 | -€764 | -3.7% |
| Financial income | 75/76B | €4,502 | €3,866 | -€636 | -14.1% |
| Recurring financial income | 75 | €4,502 | €3,866 | -€636 | -14.1% |
| Financial charges | 65/66B | €10,918 | €10,744 | -€174 | -1.6% |
| Recurring financial charges | 65 | €10,918 | €10,744 | -€174 | -1.6% |
| Profit (loss) for the period before taxes | 9903 | €14,483 | €13,257 | -€1,226 | -8.5% |
| Income taxes | 67/77 | €10,269 | €7,557 | -€2,713 | -26.4% |
| Profit (loss) for the period | 9904 | €4,213 | €5,700 | +€1,487 | +35.3% |
| Profit (loss) for the period to be appropriated | 9905 | €4,213 | €5,700 | +€1,487 | +35.3% |
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 29 October 2026 via checked.be.