LV AVOCAT: 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.
LV AVOCAT
Largest movements
- Receivables after one year -€148,377
no longer reported in 2025 (was €148,377)
- Receivables within one year +€117,014
up €117,014 (+586%), from €19,971 to €136,986
of which Trade receivables: +€118,204
- Tangible fixed assets -€19,572
down €19,572 (-40.0%), from €48,889 to €29,316
of which Leasing and similar rights: -€17,788
- Cash +€7,156
up €7,156 (+164%), from €4,352 to €11,509
mainly Net result for the year (+€157,926) and Receivables after one year (+€148,377)
- Deferred charges and accrued income -€6,233
down €6,233 (-77.2%), from €8,076 to €1,843
- Profit (loss) carried forward -€61,462
down €61,462 (-33.5%), from €183,267 to €121,805
- Tax, wage and social debts +€27,479
up €27,479 (+185%), from €14,888 to €42,368
of which Taxes: +€29,820
- Debts after one year -€12,580
down €12,580 (-97.6%), from €12,889 to €309
- Current portion of long-term debt -€2,564
down €2,564 (-17.0%), from €15,108 to €12,545
- Turnover +€150,839
up €150,839 (+61.2%), from €246,559 to €397,399
- Gross operating margin +€108,542
up €108,542 (+74.1%), from €146,438 to €254,981
- Purchases and services +€60,755
up €60,755 (+47.2%), from €128,754 to €189,509
- Staff costs +€19,884
up €19,884 (+85.8%), from €23,183 to €43,068
- Taxes +€15,288
up €15,288 (+102%), from €15,000 to €30,288
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 | €229,665 | €179,653 | -€50,011 | -21.8% |
| Fixed assets | 21/28 | €48,889 | €29,316 | -€19,572 | -40.0% |
| Tangible fixed assets | 22/27 | €48,889 | €29,316 | -€19,572 | -40.0% |
| Land and buildings | 22 | €7,451 | €6,288 | -€1,163 | -15.6% |
| Plant, machinery and equipment | 23 | €340 | €132 | -€209 | -61.2% |
| Furniture and vehicles | 24 | €7,275 | €6,863 | -€412 | -5.7% |
| Leasing and similar rights | 25 | €33,822 | €16,034 | -€17,788 | -52.6% |
| Current assets | 29/58 | €180,776 | €150,337 | -€30,439 | -16.8% |
| Amounts receivable after more than one year | 29 | €148,377 | - | -€148,377 | |
| Other amounts receivable | 291 | €148,377 | - | -€148,377 | |
| Amounts receivable within one year | 40/41 | €19,971 | €136,986 | +€117,014 | +586% |
| Trade receivables | 40 | €18,782 | €136,986 | +€118,204 | +629% |
| Other amounts receivable | 41 | €1,189 | - | -€1,189 | |
| Cash at bank and in hand | 54/58 | €4,352 | €11,509 | +€7,156 | +164% |
| Deferred charges and accrued income | 490/1 | €8,076 | €1,843 | -€6,233 | -77.2% |
| Total equity and liabilities | 10/49 | €229,665 | €179,653 | -€50,011 | -21.8% |
| Equity | 10/15 | €185,767 | €124,305 | -€61,462 | -33.1% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €183,267 | €121,805 | -€61,462 | -33.5% |
| Amounts payable | 17/49 | €43,898 | €55,349 | +€11,451 | +26.1% |
| Amounts payable after more than one year | 17 | €12,889 | €309 | -€12,580 | -97.6% |
| Financial debts | 170/4 | €12,889 | €309 | -€12,580 | -97.6% |
| Amounts payable within one year | 42/48 | €31,009 | €55,039 | +€24,030 | +77.5% |
| Current portion of amounts payable after more than one year | 42 | €15,108 | €12,545 | -€2,564 | -17.0% |
| Trade debts | 44 | €953 | - | -€953 | |
| Suppliers | 440/4 | €953 | - | -€953 | |
| Taxes, remuneration and social security | 45 | €14,888 | €42,368 | +€27,479 | +185% |
| Taxes | 450/3 | €11,453 | €41,273 | +€29,820 | +260% |
| Remuneration and social security | 454/9 | €3,435 | €1,095 | -€2,340 | -68.1% |
| Other amounts payable | 47/48 | €60 | €127 | +€67 | +112% |
| Turnover | 70 | €246,559 | €397,399 | +€150,839 | +61.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €128,754 | €189,509 | +€60,755 | +47.2% |
| Remuneration, social security and pensions | 62 | €23,183 | €43,068 | +€19,884 | +85.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,926 | €20,926 | = | 0.0% |
| Other operating charges | 640/8 | €2,054 | €2,701 | +€647 | +31.5% |
| Gross operating margin | 9900 | €146,438 | €254,981 | +€108,542 | +74.1% |
| Operating profit (loss) | 9901 | €100,275 | €188,286 | +€88,011 | +87.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €3,506 | €72 | -€3,435 | -98.0% |
| Recurring financial charges | 65 | €3,506 | €72 | -€3,435 | -98.0% |
| Profit (loss) for the period before taxes | 9903 | €96,769 | €188,214 | +€91,446 | +94.5% |
| Income taxes | 67/77 | €15,000 | €30,288 | +€15,288 | +102% |
| Profit (loss) for the period | 9904 | €81,769 | €157,926 | +€76,157 | +93.1% |
| Profit (loss) for the period to be appropriated | 9905 | €81,769 | €157,926 | +€76,157 | +93.1% |
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 26 October 2026 via checked.be.