[scala] What does a lazy val do?

I understand that the answer is given but I wrote a simple example to make it easy to understand for beginners like me:

var x = { println("x"); 15 }
lazy val y = { println("y"); x + 1 }
println("-----")
x = 17
println("y is: " + y)

Output of above code is:

x
-----
y
y is: 18

As it can be seen, x is printed when it's initialized, but y is not printed when it's initialized in same way (I have taken x as var intentionally here - to explain when y gets initialized). Next when y is called, it's initialized as well as value of last 'x' is taken into consideration but not the old one.

Hope this helps.