LIVANTO: 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.
LIVANTO
Largest movements
- Tangible fixed assets -€163,082
down €163,082 (-24.5%), from €664,510 to €501,429
of which Other tangible fixed assets: -€203,547
- Current investments +€83,852
up €83,852 (+31.6%), from €265,000 to €348,852
- Receivables within one year +€25,832
up €25,832 (+88.1%), from €29,329 to €55,162
of which Other amounts receivable: +€25,242
- Cash -€10,897
down €10,897 (-35.0%), from €31,092 to €20,194
mainly Debts after one year (-€96,757) and Current investments (-€83,852)
- Debts after one year -€96,757
down €96,757 (-64.8%), from €149,294 to €52,536
- Reserves +€63,873
up €63,873 (+15.2%), from €419,581 to €483,454
of which Tax-exempt reserves: +€49,167
- Provisions +€19,895
up €19,895 (+189%), from €10,518 to €30,413
- Accrued charges and deferred income -€16,897
down €16,897 (-78.5%), from €21,511 to €4,615
- Other debts -€16,863
down €16,863 (-8.8%), from €192,716 to €175,853
- Financial income -€26,446
down €26,446 (-88.8%), from €29,795 to €3,349
- Gross operating margin +€20,095
up €20,095 (+10.3%), from €194,305 to €214,400
- Taxes -€13,159
down €13,159 (-30.0%), from €43,847 to €30,688
- Depreciation -€5,041
down €5,041 (-12.3%), from €41,119 to €36,078
- Financial charges -€2,153
down €2,153 (-8.3%), from €25,852 to €23,699
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 | €990,058 | €925,636 | -€64,421 | -6.5% |
| Fixed assets | 21/28 | €664,510 | €501,429 | -€163,082 | -24.5% |
| Tangible fixed assets | 22/27 | €664,510 | €501,429 | -€163,082 | -24.5% |
| Land and buildings | 22 | €144,572 | €137,748 | -€6,824 | -4.7% |
| Plant, machinery and equipment | 23 | €18,600 | €51,838 | +€33,238 | +179% |
| Furniture and vehicles | 24 | €22,295 | €15,471 | -€6,824 | -30.6% |
| Other tangible fixed assets | 26 | €479,044 | €275,497 | -€203,547 | -42.5% |
| Assets under construction and advance payments | 27 | - | €20,875 | +€20,875 | |
| Current assets | 29/58 | €325,547 | €424,207 | +€98,660 | +30.3% |
| Amounts receivable within one year | 40/41 | €29,329 | €55,162 | +€25,832 | +88.1% |
| Trade receivables | 40 | €29,329 | €29,920 | +€591 | +2.0% |
| Other amounts receivable | 41 | €0 | €25,242 | +€25,242 | |
| Current investments | 50/53 | €265,000 | €348,852 | +€83,852 | +31.6% |
| Cash at bank and in hand | 54/58 | €31,092 | €20,194 | -€10,897 | -35.0% |
| Deferred charges and accrued income | 490/1 | €126 | €0 | -€126 | -100% |
| Total equity and liabilities | 10/49 | €990,058 | €925,636 | -€64,421 | -6.5% |
| Equity | 10/15 | €478,822 | €540,835 | +€62,013 | +13.0% |
| Contributions | 10/11 | €20,460 | €18,600 | -€1,860 | -9.1% |
| Reserves | 13 | €419,581 | €483,454 | +€63,873 | +15.2% |
| Tax-exempt reserves | 132 | €75,823 | €124,990 | +€49,167 | +64.8% |
| Distributable reserves | 133 | €343,758 | €358,464 | +€14,706 | +4.3% |
| Profit (loss) carried forward | 14 | €38,781 | €38,781 | = | 0.0% |
| Provisions and deferred taxes | 16 | €10,518 | €30,413 | +€19,895 | +189% |
| Deferred taxes | 168 | €10,518 | €30,413 | +€19,895 | +189% |
| Amounts payable | 17/49 | €500,718 | €354,389 | -€146,329 | -29.2% |
| Amounts payable after more than one year | 17 | €149,294 | €52,536 | -€96,757 | -64.8% |
| Financial debts | 170/4 | €149,294 | €52,536 | -€96,757 | -64.8% |
| Amounts payable within one year | 42/48 | €329,913 | €297,238 | -€32,675 | -9.9% |
| Current portion of amounts payable after more than one year | 42 | €91,461 | €96,757 | +€5,296 | +5.8% |
| Financial debts | 43 | €5,107 | €5,048 | -€59 | -1.2% |
| Credit institutions | 430/8 | €5,107 | €5,048 | -€59 | -1.2% |
| Trade debts | 44 | €18,468 | €8,194 | -€10,274 | -55.6% |
| Suppliers | 440/4 | €18,468 | €8,194 | -€10,274 | -55.6% |
| Taxes, remuneration and social security | 45 | €22,160 | €11,385 | -€10,775 | -48.6% |
| Taxes | 450/3 | €22,160 | €11,385 | -€10,775 | -48.6% |
| Other amounts payable | 47/48 | €192,716 | €175,853 | -€16,863 | -8.8% |
| Accrued charges and deferred income | 492/3 | €21,511 | €4,615 | -€16,897 | -78.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,119 | €36,078 | -€5,041 | -12.3% |
| Other operating charges | 640/8 | €2,124 | €3,309 | +€1,185 | +55.8% |
| Gross operating margin | 9900 | €194,305 | €214,400 | +€20,095 | +10.3% |
| Operating profit (loss) | 9901 | €151,062 | €175,013 | +€23,951 | +15.9% |
| Financial income | 75/76B | €29,795 | €3,349 | -€26,446 | -88.8% |
| Recurring financial income | 75 | €29,795 | €3,349 | -€26,446 | -88.8% |
| Financial charges | 65/66B | €25,852 | €23,699 | -€2,153 | -8.3% |
| Recurring financial charges | 65 | €25,852 | €23,699 | -€2,153 | -8.3% |
| Profit (loss) for the period before taxes | 9903 | €155,005 | €154,663 | -€342 | -0.2% |
| Transfer from deferred taxes | 780 | €520 | €10,518 | +€9,998 | +1,922% |
| Transfer to deferred taxes | 680 | - | €30,413 | +€30,413 | |
| Income taxes | 67/77 | €43,847 | €30,688 | -€13,159 | -30.0% |
| Profit (loss) for the period | 9904 | €111,678 | €104,079 | -€7,599 | -6.8% |
| Transfer from tax-exempt reserves | 789 | €2,081 | €42,071 | +€39,990 | +1,922% |
| Transfer to tax-exempt reserves | 689 | - | €91,238 | +€91,238 | |
| Profit (loss) for the period to be appropriated | 9905 | €113,759 | €54,912 | -€58,846 | -51.7% |
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 19 October 2026 via checked.be.