LNAVEGA: 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.
LNAVEGA
Largest movements
- Cash +€91,022
up €91,022 (+51.9%), from €175,269 to €266,291
mainly Receivables within one year (+€70,276) and Trade debts (+€28,262)
- Receivables within one year -€70,276
down €70,276 (-23.0%), from €306,197 to €235,921
of which Trade receivables: -€64,700
- Tangible fixed assets -€5,713
down €5,713 (-24.0%), from €23,806 to €18,093
- Tax, wage and social debts -€35,404
down €35,404 (-72.2%), from €49,053 to €13,649
- Trade debts +€28,262
up €28,262 (+21.1%), from €133,745 to €162,007
- Reserves +€20,572
up €20,572 (+5.4%), from €379,318 to €399,890
of which Distributable reserves: +€20,572
- Write-downs -€100,736
down €100,736 (-83.9%), from €120,000 to €19,264
- Gross operating margin -€72,455
down €72,455 (-55.0%), from €131,789 to €59,335
- Taxes -€22,236
down €22,236 (-63.5%), from €35,000 to €12,764
- Other operating charges -€6,604
down €6,604 (-62.5%), from €10,573 to €3,969
- Financial income +€3,801
new in 2024: €3,801
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €546,051 | €561,084 | +€15,033 | +2.8% |
| Fixed assets | 21/28 | €23,806 | €18,093 | -€5,713 | -24.0% |
| Tangible fixed assets | 22/27 | €23,806 | €18,093 | -€5,713 | -24.0% |
| Furniture and vehicles | 24 | €23,806 | €18,093 | -€5,713 | -24.0% |
| Current assets | 29/58 | €522,245 | €542,991 | +€20,746 | +4.0% |
| Amounts receivable after more than one year | 29 | €40,000 | €40,000 | = | 0.0% |
| Other amounts receivable | 291 | €40,000 | €40,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €306,197 | €235,921 | -€70,276 | -23.0% |
| Trade receivables | 40 | €266,504 | €201,804 | -€64,700 | -24.3% |
| Other amounts receivable | 41 | €39,693 | €34,117 | -€5,576 | -14.0% |
| Cash at bank and in hand | 54/58 | €175,269 | €266,291 | +€91,022 | +51.9% |
| Deferred charges and accrued income | 490/1 | €780 | €780 | = | 0.0% |
| Total equity and liabilities | 10/49 | €546,051 | €561,084 | +€15,033 | +2.8% |
| Equity | 10/15 | €359,349 | €379,921 | +€20,572 | +5.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €379,318 | €399,890 | +€20,572 | +5.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €377,458 | €398,030 | +€20,572 | +5.5% |
| Profit (loss) carried forward | 14 | -€38,569 | -€38,569 | = | 0.0% |
| Amounts payable | 17/49 | €186,702 | €181,163 | -€5,539 | -3.0% |
| Amounts payable within one year | 42/48 | €186,702 | €181,163 | -€5,539 | -3.0% |
| Trade debts | 44 | €133,745 | €162,007 | +€28,262 | +21.1% |
| Suppliers | 440/4 | €133,745 | €162,007 | +€28,262 | +21.1% |
| Taxes, remuneration and social security | 45 | €49,053 | €13,649 | -€35,404 | -72.2% |
| Taxes | 450/3 | €49,053 | €13,649 | -€35,404 | -72.2% |
| Other amounts payable | 47/48 | €3,904 | €5,507 | +€1,603 | +41.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,761 | €5,713 | +€952 | +20.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €120,000 | €19,264 | -€100,736 | -83.9% |
| Other operating charges | 640/8 | €10,573 | €3,969 | -€6,604 | -62.5% |
| Gross operating margin | 9900 | €131,789 | €59,335 | -€72,455 | -55.0% |
| Operating profit (loss) | 9901 | -€3,544 | €30,389 | +€33,933 | |
| Financial income | 75/76B | - | €3,801 | +€3,801 | |
| Recurring financial income | 75 | - | €3,801 | +€3,801 | |
| Financial charges | 65/66B | €25 | €44 | +€19 | +74.0% |
| Recurring financial charges | 65 | €25 | €44 | +€19 | +74.0% |
| Profit (loss) for the period before taxes | 9903 | -€3,569 | €34,146 | +€37,715 | |
| Income taxes | 67/77 | €35,000 | €12,764 | -€22,236 | -63.5% |
| Profit (loss) for the period | 9904 | -€38,569 | €21,382 | +€59,951 | |
| Profit (loss) for the period to be appropriated | 9905 | -€38,569 | €21,382 | +€59,951 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.