L & V ASSOCIATES: 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 & V ASSOCIATES
Largest movements
- Cash -€119,977
down €119,977 (-92.0%), from €130,353 to €10,377
mainly Current investments (-€100,000) and Contributions, distributions and other (-€37,654)
- Current investments +€100,000
new in 2025: €100,000
- Receivables within one year +€30,135
up €30,135 (+144%), from €20,865 to €51,000
of which Trade receivables: +€28,690
- Intangible fixed assets -€10,626
down €10,626 (-100%), from €10,626 to €0
- Other debts +€2,515
up €2,515 (+7.2%), from €35,139 to €37,654
- Depreciation -€3,020
down €3,020 (-22.1%), from €13,646 to €10,626
- Taxes +€852
up €852 (+7.3%), from €11,713 to €12,565
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 | €161,845 | €161,377 | -€467 | -0.3% |
| Fixed assets | 21/28 | €10,626 | €0 | -€10,626 | -100% |
| Intangible fixed assets | 21 | €10,626 | €0 | -€10,626 | -100% |
| Current assets | 29/58 | €151,219 | €161,377 | +€10,158 | +6.7% |
| Amounts receivable within one year | 40/41 | €20,865 | €51,000 | +€30,135 | +144% |
| Trade receivables | 40 | €14,578 | €43,268 | +€28,690 | +197% |
| Other amounts receivable | 41 | €6,287 | €7,733 | +€1,445 | +23.0% |
| Current investments | 50/53 | - | €100,000 | +€100,000 | |
| Cash at bank and in hand | 54/58 | €130,353 | €10,377 | -€119,977 | -92.0% |
| Total equity and liabilities | 10/49 | €161,845 | €161,377 | -€467 | -0.3% |
| Equity | 10/15 | €100,188 | €100,188 | = | 0.0% |
| Contributions | 10/11 | €28,800 | €28,800 | = | 0.0% |
| Reserves | 13 | €32,347 | €32,347 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €32,347 | €32,347 | = | 0.0% |
| Profit (loss) carried forward | 14 | €39,041 | €39,041 | = | 0.0% |
| Amounts payable | 17/49 | €61,656 | €61,189 | -€467 | -0.8% |
| Amounts payable within one year | 42/48 | €44,443 | €45,367 | +€924 | +2.1% |
| Trade debts | 44 | €0 | €0 | = | |
| Suppliers | 440/4 | €0 | €0 | = | |
| Taxes, remuneration and social security | 45 | €9,305 | €7,713 | -€1,591 | -17.1% |
| Taxes | 450/3 | €9,305 | €7,713 | -€1,591 | -17.1% |
| Other amounts payable | 47/48 | €35,139 | €37,654 | +€2,515 | +7.2% |
| Accrued charges and deferred income | 492/3 | €17,213 | €15,822 | -€1,391 | -8.1% |
| Turnover | 70 | €0 | €0 | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,646 | €10,626 | -€3,020 | -22.1% |
| Other operating charges | 640/8 | €387 | €580 | +€193 | +49.7% |
| Gross operating margin | 9900 | €60,930 | €61,500 | +€570 | +0.9% |
| Operating profit (loss) | 9901 | €46,897 | €50,294 | +€3,397 | +7.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €46 | €76 | +€30 | +65.4% |
| Recurring financial charges | 65 | €46 | €76 | +€30 | +65.4% |
| Profit (loss) for the period before taxes | 9903 | €46,851 | €50,219 | +€3,367 | +7.2% |
| Income taxes | 67/77 | €11,713 | €12,565 | +€852 | +7.3% |
| Profit (loss) for the period | 9904 | €35,139 | €37,654 | +€2,515 | +7.2% |
| Profit (loss) for the period to be appropriated | 9905 | €35,139 | €37,654 | +€2,515 | +7.2% |
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 25 October 2026 via checked.be.