LIVINUS: 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.
LIVINUS
Largest movements
- Current investments +€3.2m
up €3.2m (+32.2%), from €9.8m to €13.0m
- Receivables within one year -€2.6m
down €2.6m (-42.4%), from €6.2m to €3.6m
of which Other amounts receivable: -€2.6m
- Reserves +€640,406
up €640,406 (+4.2%), from €15.3m to €15.9m
of which Distributable reserves: +€556,206
- Financial income -€6.2m
down €6.2m (-91.9%), from €6.8m to €550,749
of which Non-recurring financial income: -€6.1m
- Taxes -€538,821
down €538,821 (-76.4%), from €705,231 to €166,410
- Financial charges -€420,171
down €420,171, from €223,289 to -€196,882
- Gross operating margin +€10,827
up €10,827 (+6.4%), from €169,218 to €180,045
- Depreciation +€7,108
up €7,108 (+239%), from €2,971 to €10,079
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 | €16,069,316 | €16,641,893 | +€572,577 | +3.6% |
| Fixed assets | 21/28 | €47,437 | €37,358 | -€10,079 | -21.2% |
| Tangible fixed assets | 22/27 | €47,437 | €37,358 | -€10,079 | -21.2% |
| Furniture and vehicles | 24 | €47,437 | €37,358 | -€10,079 | -21.2% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €16,021,879 | €16,604,535 | +€582,656 | +3.6% |
| Amounts receivable within one year | 40/41 | €6,202,674 | €3,571,527 | -€2.6m | -42.4% |
| Trade receivables | 40 | €20,307 | €30,157 | +€9,850 | +48.5% |
| Other amounts receivable | 41 | €6,182,367 | €3,541,370 | -€2.6m | -42.7% |
| Current investments | 50/53 | €9,804,070 | €12,959,135 | +€3.2m | +32.2% |
| Cash at bank and in hand | 54/58 | €5,548 | €27,435 | +€21,887 | +395% |
| Deferred charges and accrued income | 490/1 | €9,587 | €46,438 | +€36,851 | +384% |
| Total equity and liabilities | 10/49 | €16,069,316 | €16,641,893 | +€572,577 | +3.6% |
| Equity | 10/15 | €15,310,003 | €15,950,409 | +€640,406 | +4.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €15,291,403 | €15,931,809 | +€640,406 | +4.2% |
| Tax-exempt reserves | 132 | - | €84,200 | +€84,200 | |
| Distributable reserves | 133 | €15,291,403 | €15,847,609 | +€556,206 | +3.6% |
| Amounts payable | 17/49 | €759,313 | €691,484 | -€67,829 | -8.9% |
| Amounts payable within one year | 42/48 | €754,873 | €690,334 | -€64,539 | -8.5% |
| Trade debts | 44 | €708 | €2,768 | +€2,060 | +291% |
| Suppliers | 440/4 | €708 | €2,768 | +€2,060 | +291% |
| Taxes, remuneration and social security | 45 | €754,165 | €667,566 | -€86,599 | -11.5% |
| Taxes | 450/3 | €729,122 | €648,204 | -€80,918 | -11.1% |
| Remuneration and social security | 454/9 | €25,043 | €19,362 | -€5,681 | -22.7% |
| Other amounts payable | 47/48 | - | €20,000 | +€20,000 | |
| Accrued charges and deferred income | 492/3 | €4,440 | €1,150 | -€3,290 | -74.1% |
| Remuneration, social security and pensions | 62 | €107,507 | €109,350 | +€1,843 | +1.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,971 | €10,079 | +€7,108 | +239% |
| Other operating charges | 640/8 | €1,791 | €1,431 | -€360 | -20.1% |
| Gross operating margin | 9900 | €169,218 | €180,045 | +€10,827 | +6.4% |
| Operating profit (loss) | 9901 | €56,949 | €59,185 | +€2,236 | +3.9% |
| Financial income | 75/76B | €6,757,664 | €550,749 | -€6.2m | -91.9% |
| Recurring financial income | 75 | €595,624 | €464,258 | -€131,366 | -22.1% |
| Non-recurring financial income | 76B | €6,162,040 | €86,491 | -€6.1m | -98.6% |
| Financial charges | 65/66B | €223,289 | -€196,882 | -€420,171 | |
| Recurring financial charges | 65 | €223,289 | -€196,882 | -€420,171 | |
| Profit (loss) for the period before taxes | 9903 | €6,591,324 | €806,816 | -€5.8m | -87.8% |
| Income taxes | 67/77 | €705,231 | €166,410 | -€538,821 | -76.4% |
| Profit (loss) for the period | 9904 | €5,886,093 | €640,406 | -€5.2m | -89.1% |
| Transfer to tax-exempt reserves | 689 | - | €84,200 | +€84,200 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,886,093 | €556,206 | -€5.3m | -90.6% |
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 24 October 2026 via checked.be.