LV1: what changed
Two fiscal 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.
LV1
Largest movements
- Receivables within one year -€881,422
down €881,422 (-49.8%), from €1.8m to €889,025
of which Other amounts receivable: -€981,422
- Cash -€84,074
down €84,074 (-93.7%), from €89,710 to €5,636
mainly Other debts (-€991,279) and Current investments (-€70,000)
- Current investments +€70,000
new in 2025: €70,000
- Other debts -€991,279
down €991,279 (-63.5%), from €1.6m to €570,912
- Reserves +€99,827
up €99,827 (+32.5%), from €306,714 to €406,541
- Gross operating margin -€70,190
down €70,190 (-50.8%), from €138,128 to €67,938
- Financial income +€37,732
up €37,732 (+86.7%), from €43,541 to €81,273
- Taxes -€9,478
down €9,478 (-21.7%), from €43,619 to €34,141
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.
Cash bridge derived
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 | €1,915,956 | €1,006,670 | -€909,286 | -47.5% |
| Fixed assets | 21/28 | €54,239 | €40,341 | -€13,898 | -25.6% |
| Tangible fixed assets | 22/27 | €44,189 | €30,291 | -€13,898 | -31.5% |
| Furniture and vehicles | 24 | €44,189 | €30,291 | -€13,898 | -31.5% |
| Financial fixed assets | 28 | €10,050 | €10,050 | = | 0.0% |
| Current assets | 29/58 | €1,861,717 | €966,329 | -€895,388 | -48.1% |
| Amounts receivable within one year | 40/41 | €1,770,447 | €889,025 | -€881,422 | -49.8% |
| Trade receivables | 40 | - | €100,000 | +€100,000 | |
| Other amounts receivable | 41 | €1,770,447 | €789,025 | -€981,422 | -55.4% |
| Current investments | 50/53 | - | €70,000 | +€70,000 | |
| Cash at bank and in hand | 54/58 | €89,710 | €5,636 | -€84,074 | -93.7% |
| Deferred charges and accrued income | 490/1 | €1,560 | €1,668 | +€108 | +6.9% |
| Total equity and liabilities | 10/49 | €1,915,956 | €1,006,670 | -€909,286 | -47.5% |
| Equity | 10/15 | €325,314 | €425,141 | +€99,827 | +30.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €306,714 | €406,541 | +€99,827 | +32.5% |
| Distributable reserves | 133 | €306,714 | €406,541 | +€99,827 | +32.5% |
| Amounts payable | 17/49 | €1,590,643 | €581,529 | -€1.0m | -63.4% |
| Amounts payable within one year | 42/48 | €1,590,643 | €581,529 | -€1.0m | -63.4% |
| Trade debts | 44 | €1,059 | €971 | -€88 | -8.3% |
| Suppliers | 440/4 | €1,059 | €971 | -€88 | -8.3% |
| Taxes, remuneration and social security | 45 | €27,392 | €9,646 | -€17,746 | -64.8% |
| Taxes | 450/3 | €27,392 | €9,646 | -€17,746 | -64.8% |
| Other amounts payable | 47/48 | €1,562,191 | €570,912 | -€991,279 | -63.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,886 | €13,898 | +€12 | +0.1% |
| Other operating charges | 640/8 | €1,692 | €1,293 | -€399 | -23.6% |
| Gross operating margin | 9900 | €138,128 | €67,938 | -€70,190 | -50.8% |
| Operating profit (loss) | 9901 | €122,549 | €52,747 | -€69,803 | -57.0% |
| Financial income | 75/76B | €43,541 | €81,273 | +€37,732 | +86.7% |
| Recurring financial income | 75 | €43,541 | €81,273 | +€37,732 | +86.7% |
| Financial charges | 65/66B | €51 | €51 | = | 0.0% |
| Recurring financial charges | 65 | €51 | €51 | = | 0.0% |
| Profit (loss) for the period before taxes | 9903 | €166,039 | €133,968 | -€32,070 | -19.3% |
| Income taxes | 67/77 | €43,619 | €34,141 | -€9,478 | -21.7% |
| Profit (loss) for the period | 9904 | €122,419 | €99,827 | -€22,592 | -18.5% |
| Profit (loss) for the period to be appropriated | 9905 | €122,419 | €99,827 | -€22,592 | -18.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.