LIVAR: 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.
LIVAR
Largest movements
- Cash -€12,508
down €12,508 (-52.8%), from €23,670 to €11,162
mainly Tax, wage and social debts (-€9,503) and Trade debts (-€8,176)
- Receivables within one year -€9,209
down €9,209 (-18.8%), from €49,030 to €39,821
of which Trade receivables: -€6,824
- Tangible fixed assets -€6,087
down €6,087 (-27.1%), from €22,476 to €16,388
of which Furniture and vehicles: -€3,627
- Deferred charges and accrued income +€1,281
new in 2025: €1,281
- Tax, wage and social debts -€9,503
down €9,503 (-68.2%), from €13,943 to €4,439
- Trade debts -€8,176
down €8,176 (-69.4%), from €11,784 to €3,608
- Debts after one year -€6,927
down €6,927 (-85.4%), from €8,113 to €1,186
- Profit (loss) carried forward -€2,233
down €2,233 (-4.8%), from €46,664 to €44,431
- Gross operating margin +€36,425
up €36,425, from -€23,732 to €12,693
- Depreciation -€7,546
down €7,546 (-49.1%), from €15,358 to €7,812
- Other operating charges -€1,636
down €1,636 (-37.5%), from €4,366 to €2,730
- Taxes +€1,603
up €1,603 (+81.7%), from €1,961 to €3,564
- Financial charges -€819
down €819 (-49.9%), from €1,640 to €822
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 | €95,175 | €68,652 | -€26,523 | -27.9% |
| Fixed assets | 21/28 | €22,476 | €16,388 | -€6,087 | -27.1% |
| Tangible fixed assets | 22/27 | €22,476 | €16,388 | -€6,087 | -27.1% |
| Plant, machinery and equipment | 23 | €2,812 | €351 | -€2,461 | -87.5% |
| Furniture and vehicles | 24 | €19,664 | €16,037 | -€3,627 | -18.4% |
| Current assets | 29/58 | €72,699 | €52,263 | -€20,436 | -28.1% |
| Amounts receivable within one year | 40/41 | €49,030 | €39,821 | -€9,209 | -18.8% |
| Trade receivables | 40 | €25,009 | €18,185 | -€6,824 | -27.3% |
| Other amounts receivable | 41 | €24,020 | €21,636 | -€2,385 | -9.9% |
| Cash at bank and in hand | 54/58 | €23,670 | €11,162 | -€12,508 | -52.8% |
| Deferred charges and accrued income | 490/1 | - | €1,281 | +€1,281 | |
| Total equity and liabilities | 10/49 | €95,175 | €68,652 | -€26,523 | -27.9% |
| Equity | 10/15 | €54,724 | €52,491 | -€2,233 | -4.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,664 | €44,431 | -€2,233 | -4.8% |
| Amounts payable | 17/49 | €40,450 | €16,161 | -€24,290 | -60.0% |
| Amounts payable after more than one year | 17 | €8,113 | €1,186 | -€6,927 | -85.4% |
| Financial debts | 170/4 | €8,113 | €1,186 | -€6,927 | -85.4% |
| Amounts payable within one year | 42/48 | €32,337 | €14,974 | -€17,363 | -53.7% |
| Current portion of amounts payable after more than one year | 42 | €6,610 | €6,927 | +€317 | +4.8% |
| Trade debts | 44 | €11,784 | €3,608 | -€8,176 | -69.4% |
| Suppliers | 440/4 | €11,784 | €3,608 | -€8,176 | -69.4% |
| Taxes, remuneration and social security | 45 | €13,943 | €4,439 | -€9,503 | -68.2% |
| Taxes | 450/3 | €13,943 | €4,439 | -€9,503 | -68.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,358 | €7,812 | -€7,546 | -49.1% |
| Other operating charges | 640/8 | €4,366 | €2,730 | -€1,636 | -37.5% |
| Gross operating margin | 9900 | -€23,732 | €12,693 | +€36,425 | |
| Operating profit (loss) | 9901 | -€43,456 | €2,151 | +€45,607 | |
| Financial income | 75/76B | €4 | €1 | -€3 | -73.2% |
| Recurring financial income | 75 | €4 | €1 | -€3 | -73.2% |
| Financial charges | 65/66B | €1,640 | €822 | -€819 | -49.9% |
| Recurring financial charges | 65 | €1,640 | €822 | -€819 | -49.9% |
| Profit (loss) for the period before taxes | 9903 | -€45,092 | €1,330 | +€46,423 | |
| Income taxes | 67/77 | €1,961 | €3,564 | +€1,603 | +81.7% |
| Profit (loss) for the period | 9904 | -€47,053 | -€2,233 | +€44,820 | +95.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€47,053 | -€2,233 | +€44,820 | +95.3% |
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 25 October 2026 via checked.be.