L.V.C.: 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.C.
Largest movements
- Cash +€16,743
up €16,743 (+14.4%), from €116,666 to €133,409
mainly Net result for the year (+€33,457) and Depreciation (+€11,735)
- Tangible fixed assets -€4,014
down €4,014 (-2.8%), from €140,861 to €136,846
- Reserves +€33,457
up €33,457 (+25.1%), from €133,510 to €166,967
- Debts after one year -€21,175
down €21,175 (-55.9%), from €37,878 to €16,702
- Tax, wage and social debts -€2,720
down €2,720 (-41.7%), from €6,517 to €3,798
- Depreciation +€9,079
up €9,079 (+342%), from €2,656 to €11,735
- Gross operating margin +€3,077
up €3,077 (+6.1%), from €50,110 to €53,187
- Financial charges -€1,127
down €1,127 (-27.4%), from €4,117 to €2,990
- Other operating charges +€999
up €999 (+86.4%), from €1,155 to €2,154
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 | €260,472 | €271,061 | +€10,589 | +4.1% |
| Fixed assets | 21/28 | €141,012 | €136,998 | -€4,014 | -2.8% |
| Tangible fixed assets | 22/27 | €140,861 | €136,846 | -€4,014 | -2.8% |
| Land and buildings | 22 | €140,861 | €136,846 | -€4,014 | -2.8% |
| Financial fixed assets | 28 | €151 | €151 | = | 0.0% |
| Current assets | 29/58 | €119,460 | €134,063 | +€14,603 | +12.2% |
| Amounts receivable within one year | 40/41 | €2,795 | €654 | -€2,140 | -76.6% |
| Other amounts receivable | 41 | €2,795 | €654 | -€2,140 | -76.6% |
| Cash at bank and in hand | 54/58 | €116,666 | €133,409 | +€16,743 | +14.4% |
| Total equity and liabilities | 10/49 | €260,472 | €271,061 | +€10,589 | +4.1% |
| Equity | 10/15 | €195,510 | €228,967 | +€33,457 | +17.1% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €133,510 | €166,967 | +€33,457 | +25.1% |
| Distributable reserves | 133 | €133,510 | €166,967 | +€33,457 | +25.1% |
| Amounts payable | 17/49 | €64,963 | €42,094 | -€22,869 | -35.2% |
| Amounts payable after more than one year | 17 | €37,878 | €16,702 | -€21,175 | -55.9% |
| Financial debts | 170/4 | €37,878 | €16,702 | -€21,175 | -55.9% |
| Amounts payable within one year | 42/48 | €27,085 | €25,391 | -€1,693 | -6.3% |
| Current portion of amounts payable after more than one year | 42 | €19,989 | €21,175 | +€1,186 | +5.9% |
| Trade debts | 44 | €362 | €0 | -€362 | -100% |
| Suppliers | 440/4 | €362 | €0 | -€362 | -100% |
| Taxes, remuneration and social security | 45 | €6,517 | €3,798 | -€2,720 | -41.7% |
| Taxes | 450/3 | €6,517 | €3,798 | -€2,720 | -41.7% |
| Other amounts payable | 47/48 | €217 | €418 | +€202 | +93.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,656 | €11,735 | +€9,079 | +342% |
| Other operating charges | 640/8 | €1,155 | €2,154 | +€999 | +86.4% |
| Non-recurring operating charges | 66A | €2,720 | €0 | -€2,720 | -100% |
| Gross operating margin | 9900 | €50,110 | €53,187 | +€3,077 | +6.1% |
| Operating profit (loss) | 9901 | €43,578 | €39,298 | -€4,280 | -9.8% |
| Financial income | 75/76B | €596 | €707 | +€112 | +18.7% |
| Recurring financial income | 75 | €596 | €707 | +€112 | +18.7% |
| Financial charges | 65/66B | €4,117 | €2,990 | -€1,127 | -27.4% |
| Recurring financial charges | 65 | €4,117 | €2,990 | -€1,127 | -27.4% |
| Profit (loss) for the period before taxes | 9903 | €40,057 | €37,015 | -€3,042 | -7.6% |
| Income taxes | 67/77 | €3,804 | €3,558 | -€246 | -6.5% |
| Profit (loss) for the period | 9904 | €36,253 | €33,457 | -€2,796 | -7.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,253 | €33,457 | -€2,796 | -7.7% |
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 23 October 2026 via checked.be.