L.M.V. MANAGEMENT: 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.
L.M.V. MANAGEMENT
Largest movements
- Receivables after one year +€127,503
new in 2025: €127,503
- Receivables within one year -€121,578
down €121,578 (-76.8%), from €158,303 to €36,725
of which Trade receivables: -€78,807
- Other debts +€12,996
up €12,996 (+2,229%), from €583 to €13,579
- Profit (loss) carried forward +€10,679
up €10,679 (+12.2%), from €87,299 to €97,979
- Tax, wage and social debts -€8,503
down €8,503 (-66.4%), from €12,804 to €4,301
- Trade debts -€7,856
down €7,856 (-32.9%), from €23,849 to €15,993
- Current portion of long-term debt -€1,806
no longer reported in 2025 (was €1,806)
- Gross operating margin +€22,624
up €22,624 (+83.4%), from €27,127 to €49,751
- Other operating charges +€20,065
up €20,065 (+162%), from €12,360 to €32,425
- Financial income -€1,945
no longer reported in 2025 (was €1,945)
- Financial charges +€969
up €969 (+65.8%), from €1,474 to €2,443
- Taxes +€692
up €692 (+20.6%), from €3,358 to €4,051
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €160,829 | €165,842 | +€5,014 | +3.1% |
| Fixed assets | 21/28 | €333 | €180 | -€153 | -46.0% |
| Tangible fixed assets | 22/27 | €153 | - | -€153 | |
| Furniture and vehicles | 24 | €153 | - | -€153 | |
| Financial fixed assets | 28 | €180 | €180 | = | 0.0% |
| Current assets | 29/58 | €160,495 | €165,662 | +€5,167 | +3.2% |
| Amounts receivable after more than one year | 29 | - | €127,503 | +€127,503 | |
| Trade receivables | 290 | - | €127,503 | +€127,503 | |
| Amounts receivable within one year | 40/41 | €158,303 | €36,725 | -€121,578 | -76.8% |
| Trade receivables | 40 | €114,408 | €35,601 | -€78,807 | -68.9% |
| Other amounts receivable | 41 | €43,895 | €1,124 | -€42,771 | -97.4% |
| Deferred charges and accrued income | 490/1 | €2,192 | €1,434 | -€758 | -34.6% |
| Total equity and liabilities | 10/49 | €160,829 | €165,842 | +€5,014 | +3.1% |
| Equity | 10/15 | €91,299 | €101,979 | +€10,679 | +11.7% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €87,299 | €97,979 | +€10,679 | +12.2% |
| Amounts payable | 17/49 | €69,530 | €63,864 | -€5,666 | -8.1% |
| Amounts payable within one year | 42/48 | €68,487 | €63,693 | -€4,793 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €1,806 | - | -€1,806 | |
| Financial debts | 43 | €29,445 | €29,820 | +€375 | +1.3% |
| Credit institutions | 430/8 | €29,445 | €29,820 | +€375 | +1.3% |
| Trade debts | 44 | €23,849 | €15,993 | -€7,856 | -32.9% |
| Suppliers | 440/4 | €23,849 | €15,993 | -€7,856 | -32.9% |
| Taxes, remuneration and social security | 45 | €12,804 | €4,301 | -€8,503 | -66.4% |
| Taxes | 450/3 | €12,804 | €4,301 | -€8,503 | -66.4% |
| Other amounts payable | 47/48 | €583 | €13,579 | +€12,996 | +2,229% |
| Accrued charges and deferred income | 492/3 | €1,043 | €170 | -€872 | -83.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €268 | €153 | -€115 | -42.8% |
| Other operating charges | 640/8 | €12,360 | €32,425 | +€20,065 | +162% |
| Gross operating margin | 9900 | €27,127 | €49,751 | +€22,624 | +83.4% |
| Operating profit (loss) | 9901 | €14,500 | €17,173 | +€2,674 | +18.4% |
| Financial income | 75/76B | €1,945 | - | -€1,945 | |
| Recurring financial income | 75 | €1,945 | - | -€1,945 | |
| Financial charges | 65/66B | €1,474 | €2,443 | +€969 | +65.8% |
| Recurring financial charges | 65 | €1,474 | €2,443 | +€969 | +65.8% |
| Profit (loss) for the period before taxes | 9903 | €14,970 | €14,730 | -€240 | -1.6% |
| Income taxes | 67/77 | €3,358 | €4,051 | +€692 | +20.6% |
| Profit (loss) for the period | 9904 | €11,612 | €10,679 | -€933 | -8.0% |
| Profit (loss) for the period to be appropriated | 9905 | €11,612 | €10,679 | -€933 | -8.0% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.