L.V.D.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.D.C.
Largest movements
- Receivables within one year +€87,805
up €87,805 (+369%), from €23,812 to €111,617
of which Trade receivables: +€87,248
- Profit (loss) carried forward +€78,103
up €78,103 (+37.6%), from €207,602 to €285,705
- Financial income +€100,000
new in 2025: €100,000
of which Financial income: +€100,000
- Taxes +€25,969
up €25,969 (+435%), from €5,968 to €31,937
- Other operating charges +€6,866
up €6,866 (+93.9%), from €7,310 to €14,176
- Financial charges +€3,396
up €3,396 (+11.8%), from €28,693 to €32,089
- Gross operating margin -€2,699
down €2,699 (-2.7%), from €101,762 to €99,063
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 | €1,678,921 | €1,774,481 | +€95,560 | +5.7% |
| Fixed assets | 21/28 | €1,624,734 | €1,622,254 | -€2,481 | -0.2% |
| Tangible fixed assets | 22/27 | €1,624,296 | €1,621,815 | -€2,481 | -0.2% |
| Land and buildings | 22 | €1,494,694 | €1,501,283 | +€6,589 | +0.4% |
| Other tangible fixed assets | 26 | €129,602 | €120,532 | -€9,070 | -7.0% |
| Financial fixed assets | 28 | €439 | €439 | = | 0.0% |
| Current assets | 29/58 | €54,187 | €152,227 | +€98,041 | +181% |
| Amounts receivable within one year | 40/41 | €23,812 | €111,617 | +€87,805 | +369% |
| Trade receivables | 40 | €21,780 | €109,028 | +€87,248 | +401% |
| Other amounts receivable | 41 | €2,032 | €2,589 | +€557 | +27.4% |
| Cash at bank and in hand | 54/58 | €29,875 | €40,111 | +€10,236 | +34.3% |
| Deferred charges and accrued income | 490/1 | €500 | €500 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,678,921 | €1,774,481 | +€95,560 | +5.7% |
| Equity | 10/15 | €1,097,712 | €1,175,815 | +€78,103 | +7.1% |
| Contributions | 10/11 | €861,883 | €861,883 | = | 0.0% |
| Capital | 10 | €861,883 | €861,883 | = | 0.0% |
| Issued capital | 100 | €861,883 | €861,883 | = | 0.0% |
| Reserves | 13 | €28,228 | €28,228 | = | 0.0% |
| Non-distributable reserves | 130/1 | €28,228 | €28,228 | = | 0.0% |
| Legal reserve | 130 | €28,228 | €28,228 | = | 0.0% |
| Profit (loss) carried forward | 14 | €207,602 | €285,705 | +€78,103 | +37.6% |
| Amounts payable | 17/49 | €581,209 | €598,666 | +€17,457 | +3.0% |
| Amounts payable after more than one year | 17 | €350,000 | €350,000 | = | 0.0% |
| Financial debts | 170/4 | €350,000 | €350,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €210,622 | €229,621 | +€18,999 | +9.0% |
| Trade debts | 44 | €9,283 | €998 | -€8,285 | -89.2% |
| Suppliers | 440/4 | €9,283 | €998 | -€8,285 | -89.2% |
| Taxes, remuneration and social security | 45 | €7,510 | €24,493 | +€16,983 | +226% |
| Taxes | 450/3 | €7,510 | €24,493 | +€16,983 | +226% |
| Other amounts payable | 47/48 | €193,829 | €204,129 | +€10,300 | +5.3% |
| Accrued charges and deferred income | 492/3 | €20,587 | €19,045 | -€1,542 | -7.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,046 | €42,758 | +€712 | +1.7% |
| Other operating charges | 640/8 | €7,310 | €14,176 | +€6,866 | +93.9% |
| Gross operating margin | 9900 | €101,762 | €99,063 | -€2,699 | -2.7% |
| Operating profit (loss) | 9901 | €52,406 | €42,129 | -€10,277 | -19.6% |
| Financial income | 75/76B | - | €100,000 | +€100,000 | |
| Recurring financial income | 75 | - | €100,000 | +€100,000 | |
| Non-recurring financial income | 76B | - | €100,000 | +€100,000 | |
| Financial charges | 65/66B | €28,693 | €32,089 | +€3,396 | +11.8% |
| Recurring financial charges | 65 | €28,693 | €32,089 | +€3,396 | +11.8% |
| Profit (loss) for the period before taxes | 9903 | €23,713 | €110,040 | +€86,327 | +364% |
| Income taxes | 67/77 | €5,968 | €31,937 | +€25,969 | +435% |
| Profit (loss) for the period | 9904 | €17,745 | €78,103 | +€60,358 | +340% |
| Profit (loss) for the period to be appropriated | 9905 | €17,745 | €78,103 | +€60,358 | +340% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 22 October 2026 via checked.be.