LORIVAN: 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.
LORIVAN
Largest movements
- Cash -€217,667
down €217,667 (-67.0%), from €324,696 to €107,028
mainly Other debts (-€251,130) and Receivables within one year (-€190,851)
- Current investments -€200,000
down €200,000 (-50.0%), from €400,000 to €200,000
- Receivables within one year +€190,851
up €190,851 (+77.9%), from €245,131 to €435,982
of which Trade receivables: +€118,294
- Stocks and contracts -€107,018
down €107,018 (-26.3%), from €407,235 to €300,217
- Intangible fixed assets +€69,249
up €69,249, from €0 to €69,249
- Other debts -€251,130
down €251,130 (-61.3%), from €410,000 to €158,870
- Reserves +€19,374
up €19,374 (+2.7%), from €713,360 to €732,734
of which Distributable reserves: +€19,374
- Debts after one year -€17,880
down €17,880 (-45.4%), from €39,414 to €21,534
- Gross operating margin -€467,190
down €467,190 (-43.3%), from €1.1m to €611,291
- Taxes -€108,993
down €108,993 (-66.0%), from €165,120 to €56,127
- Staff costs -€42,865
down €42,865 (-11.2%), from €384,420 to €341,555
- Depreciation +€11,899
up €11,899 (+45.2%), from €26,317 to €38,216
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 | €1,495,226 | €1,225,581 | -€269,645 | -18.0% |
| Fixed assets | 21/28 | €113,047 | €179,763 | +€66,716 | +59.0% |
| Intangible fixed assets | 21 | €0 | €69,249 | +€69,249 | |
| Tangible fixed assets | 22/27 | €113,047 | €110,514 | -€2,533 | -2.2% |
| Plant, machinery and equipment | 23 | €112,682 | €109,527 | -€3,155 | -2.8% |
| Furniture and vehicles | 24 | €365 | €987 | +€622 | +170% |
| Current assets | 29/58 | €1,382,179 | €1,045,818 | -€336,361 | -24.3% |
| Stocks and contracts in progress | 3 | €407,235 | €300,217 | -€107,018 | -26.3% |
| Stocks | 30/36 | €407,235 | €300,217 | -€107,018 | -26.3% |
| Amounts receivable within one year | 40/41 | €245,131 | €435,982 | +€190,851 | +77.9% |
| Trade receivables | 40 | €210,131 | €328,424 | +€118,294 | +56.3% |
| Other amounts receivable | 41 | €35,000 | €107,558 | +€72,558 | +207% |
| Current investments | 50/53 | €400,000 | €200,000 | -€200,000 | -50.0% |
| Cash at bank and in hand | 54/58 | €324,696 | €107,028 | -€217,667 | -67.0% |
| Deferred charges and accrued income | 490/1 | €5,117 | €2,590 | -€2,527 | -49.4% |
| Total equity and liabilities | 10/49 | €1,495,226 | €1,225,581 | -€269,645 | -18.0% |
| Equity | 10/15 | €774,860 | €794,234 | +€19,374 | +2.5% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €713,360 | €732,734 | +€19,374 | +2.7% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Distributable reserves | 133 | €707,210 | €726,584 | +€19,374 | +2.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €720,366 | €431,347 | -€289,019 | -40.1% |
| Amounts payable after more than one year | 17 | €39,414 | €21,534 | -€17,880 | -45.4% |
| Financial debts | 170/4 | €39,414 | €21,534 | -€17,880 | -45.4% |
| Amounts payable within one year | 42/48 | €680,952 | €409,813 | -€271,138 | -39.8% |
| Current portion of amounts payable after more than one year | 42 | €17,164 | €17,880 | +€716 | +4.2% |
| Trade debts | 44 | €142,204 | €142,065 | -€139 | -0.1% |
| Suppliers | 440/4 | €142,204 | €142,065 | -€139 | -0.1% |
| Advances received on contracts in progress | 46 | €71,694 | €61,284 | -€10,410 | -14.5% |
| Taxes, remuneration and social security | 45 | €39,891 | €29,714 | -€10,176 | -25.5% |
| Taxes | 450/3 | €7,434 | €5,910 | -€1,524 | -20.5% |
| Remuneration and social security | 454/9 | €32,457 | €23,805 | -€8,652 | -26.7% |
| Other amounts payable | 47/48 | €410,000 | €158,870 | -€251,130 | -61.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €384,420 | €341,555 | -€42,865 | -11.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,317 | €38,216 | +€11,899 | +45.2% |
| Other operating charges | 640/8 | €1,299 | €1,465 | +€166 | +12.8% |
| Non-recurring operating charges | 66A | €8,568 | €365 | -€8,203 | -95.7% |
| Gross operating margin | 9900 | €1,078,481 | €611,291 | -€467,190 | -43.3% |
| Operating profit (loss) | 9901 | €657,878 | €229,691 | -€428,187 | -65.1% |
| Financial income | 75/76B | €4,361 | €6,982 | +€2,621 | +60.1% |
| Recurring financial income | 75 | €4,361 | €6,982 | +€2,621 | +60.1% |
| Financial charges | 65/66B | €4,696 | €3,172 | -€1,524 | -32.5% |
| Recurring financial charges | 65 | €4,696 | €3,172 | -€1,524 | -32.5% |
| Profit (loss) for the period before taxes | 9903 | €657,542 | €233,501 | -€424,041 | -64.5% |
| Income taxes | 67/77 | €165,120 | €56,127 | -€108,993 | -66.0% |
| Profit (loss) for the period | 9904 | €492,422 | €177,374 | -€315,048 | -64.0% |
| Profit (loss) for the period to be appropriated | 9905 | €492,422 | €177,374 | -€315,048 | -64.0% |
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 15 October 2026 via checked.be.