LVER: 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.
LVER
Largest movements
- Receivables within one year +€67,919
up €67,919 (+33.3%), from €204,196 to €272,115
of which Other amounts receivable: +€66,104
- Cash +€11,679
up €11,679, from €0 to €11,679
mainly Net result for the year (+€61,710) and Short-term financial debts (+€18,692)
- Tangible fixed assets -€9,375
down €9,375 (-29.8%), from €31,417 to €22,043
- Reserves +€61,710
up €61,710 (+34.2%), from €180,332 to €242,042
- Short-term financial debts +€18,692
up €18,692 (+1429.4%), from €1,308 to €20,000
- Tax, wage and social debts -€12,119
down €12,119 (-23.3%), from €52,008 to €39,889
of which Taxes: -€12,119
- Gross operating margin -€62,707
down €62,707 (-44.1%), from €142,099 to €79,392
- Taxes -€11,784
down €11,784 (-39.6%), from €29,773 to €17,989
- Financial income +€4,881
up €4,881 (+77.5%), from €6,296 to €11,178
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 | €236,563 | €306,846 | +€70,283 | +29.7% |
| Fixed assets | 21/28 | €31,417 | €22,043 | -€9,375 | -29.8% |
| Tangible fixed assets | 22/27 | €31,417 | €22,043 | -€9,375 | -29.8% |
| Furniture and vehicles | 24 | €31,417 | €22,043 | -€9,375 | -29.8% |
| Current assets | 29/58 | €205,145 | €284,803 | +€79,658 | +38.8% |
| Amounts receivable within one year | 40/41 | €204,196 | €272,115 | +€67,919 | +33.3% |
| Trade receivables | 40 | €23,232 | €25,047 | +€1,815 | +7.8% |
| Other amounts receivable | 41 | €180,964 | €247,068 | +€66,104 | +36.5% |
| Cash at bank and in hand | 54/58 | €0 | €11,679 | +€11,679 | |
| Deferred charges and accrued income | 490/1 | €950 | €1,010 | +€60 | +6.3% |
| Total equity and liabilities | 10/49 | €236,563 | €306,846 | +€70,283 | +29.7% |
| Equity | 10/15 | €182,832 | €244,542 | +€61,710 | +33.8% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €180,332 | €242,042 | +€61,710 | +34.2% |
| Distributable reserves | 133 | €180,332 | €242,042 | +€61,710 | +34.2% |
| Amounts payable | 17/49 | €53,731 | €62,304 | +€8,574 | +16.0% |
| Amounts payable within one year | 42/48 | €53,731 | €62,304 | +€8,574 | +16.0% |
| Financial debts | 43 | €1,308 | €20,000 | +€18,692 | +1429.4% |
| Credit institutions | 430/8 | €1,308 | €20,000 | +€18,692 | +1429.4% |
| Trade debts | 44 | €415 | €2,415 | +€2,000 | +482.4% |
| Suppliers | 440/4 | €415 | €2,415 | +€2,000 | +482.4% |
| Taxes, remuneration and social security | 45 | €52,008 | €39,889 | -€12,119 | -23.3% |
| Taxes | 450/3 | €52,008 | €39,889 | -€12,119 | -23.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | - | €250 | +€250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,375 | €9,375 | = | 0.0% |
| Other operating charges | 640/8 | €648 | €306 | -€341 | -52.7% |
| Gross operating margin | 9900 | €142,099 | €79,392 | -€62,707 | -44.1% |
| Operating profit (loss) | 9901 | €132,077 | €69,462 | -€62,615 | -47.4% |
| Financial income | 75/76B | €6,296 | €11,178 | +€4,881 | +77.5% |
| Recurring financial income | 75 | €6,296 | €11,178 | +€4,881 | +77.5% |
| Financial charges | 65/66B | €828 | €940 | +€112 | +13.5% |
| Recurring financial charges | 65 | €828 | €940 | +€112 | +13.5% |
| Profit (loss) for the period before taxes | 9903 | €137,545 | €79,699 | -€57,846 | -42.1% |
| Income taxes | 67/77 | €29,773 | €17,989 | -€11,784 | -39.6% |
| Profit (loss) for the period | 9904 | €107,772 | €61,710 | -€46,062 | -42.7% |
| Profit (loss) for the period to be appropriated | 9905 | €107,772 | €61,710 | -€46,062 | -42.7% |
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 12 October 2026 via checked.be.