L.V. ELEC: 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. ELEC
Largest movements
- Cash -€61,742
down €61,742 (-77.0%), from €80,141 to €18,399
mainly Other debts (-€51,194) and Receivables within one year (-€44,758)
- Receivables within one year +€44,758
up €44,758 (+27.7%), from €161,401 to €206,159
of which Trade receivables: +€50,948
- Stocks and contracts -€14,695
down €14,695 (-34.6%), from €42,491 to €27,796
of which Contracts in progress: -€17,250
- Deferred charges and accrued income +€3,900
up €3,900 (+505%), from €772 to €4,673
- Other debts -€51,194
down €51,194 (-15.2%), from €336,804 to €285,610
- Profit (loss) carried forward +€21,787
up €21,787 (+4.3%), from -€511,547 to -€489,760
- Reserves +€20,000
up €20,000 (+35.8%), from €55,860 to €75,860
of which Distributable reserves: +€20,000
- Current portion of long-term debt -€10,960
down €10,960 (-7.7%), from €142,889 to €131,929
- Trade debts -€9,773
down €9,773 (-15.5%), from €62,885 to €53,113
- Staff costs +€34,744
up €34,744 (+19.0%), from €182,418 to €217,162
- Financial charges -€11,720
down €11,720 (-65.2%), from €17,967 to €6,247
- Gross operating margin +€11,686
up €11,686 (+4.5%), from €257,998 to €269,683
- Taxes +€3,046
up €3,046, from -€1,046 to €2,000
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 | €290,981 | €261,617 | -€29,364 | -10.1% |
| Fixed assets | 21/28 | €6,176 | €4,591 | -€1,585 | -25.7% |
| Intangible fixed assets | 21 | €693 | €112 | -€580 | -83.8% |
| Tangible fixed assets | 22/27 | €4,394 | €4,478 | +€85 | +1.9% |
| Plant, machinery and equipment | 23 | €2,965 | €3,557 | +€592 | +20.0% |
| Furniture and vehicles | 24 | €1,428 | €921 | -€507 | -35.5% |
| Financial fixed assets | 28 | €1,089 | - | -€1,089 | |
| Current assets | 29/58 | €284,805 | €257,026 | -€27,779 | -9.8% |
| Stocks and contracts in progress | 3 | €42,491 | €27,796 | -€14,695 | -34.6% |
| Stocks | 30/36 | €20,491 | €23,046 | +€2,555 | +12.5% |
| Contracts in progress | 37 | €22,000 | €4,750 | -€17,250 | -78.4% |
| Amounts receivable within one year | 40/41 | €161,401 | €206,159 | +€44,758 | +27.7% |
| Trade receivables | 40 | €140,074 | €191,021 | +€50,948 | +36.4% |
| Other amounts receivable | 41 | €21,327 | €15,137 | -€6,190 | -29.0% |
| Cash at bank and in hand | 54/58 | €80,141 | €18,399 | -€61,742 | -77.0% |
| Deferred charges and accrued income | 490/1 | €772 | €4,673 | +€3,900 | +505% |
| Total equity and liabilities | 10/49 | €290,981 | €261,617 | -€29,364 | -10.1% |
| Equity | 10/15 | -€277,087 | -€235,300 | +€41,787 | +15.1% |
| Contributions | 10/11 | €178,600 | €178,600 | = | 0.0% |
| Reserves | 13 | €55,860 | €75,860 | +€20,000 | +35.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €54,000 | €74,000 | +€20,000 | +37.0% |
| Profit (loss) carried forward | 14 | -€511,547 | -€489,760 | +€21,787 | +4.3% |
| Amounts payable | 17/49 | €568,068 | €496,917 | -€71,151 | -12.5% |
| Amounts payable after more than one year | 17 | €4,825 | - | -€4,825 | |
| Financial debts | 170/4 | €4,825 | - | -€4,825 | |
| Amounts payable within one year | 42/48 | €563,088 | €496,820 | -€66,268 | -11.8% |
| Current portion of amounts payable after more than one year | 42 | €142,889 | €131,929 | -€10,960 | -7.7% |
| Trade debts | 44 | €62,885 | €53,113 | -€9,773 | -15.5% |
| Suppliers | 440/4 | €62,885 | €53,113 | -€9,773 | -15.5% |
| Taxes, remuneration and social security | 45 | €20,510 | €26,169 | +€5,658 | +27.6% |
| Taxes | 450/3 | €885 | €2,885 | +€2,000 | +226% |
| Remuneration and social security | 454/9 | €19,625 | €23,283 | +€3,658 | +18.6% |
| Other amounts payable | 47/48 | €336,804 | €285,610 | -€51,194 | -15.2% |
| Accrued charges and deferred income | 492/3 | €154 | €97 | -€57 | -37.1% |
| Remuneration, social security and pensions | 62 | €182,418 | €217,162 | +€34,744 | +19.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,960 | €2,085 | +€125 | +6.4% |
| Other operating charges | 640/8 | €1,285 | €481 | -€804 | -62.6% |
| Gross operating margin | 9900 | €257,998 | €269,683 | +€11,686 | +4.5% |
| Operating profit (loss) | 9901 | €72,334 | €49,956 | -€22,378 | -30.9% |
| Financial income | 75/76B | €1 | €78 | +€77 | +8,414% |
| Recurring financial income | 75 | €1 | €78 | +€77 | +8,414% |
| Financial charges | 65/66B | €17,967 | €6,247 | -€11,720 | -65.2% |
| Recurring financial charges | 65 | €17,967 | €6,247 | -€11,720 | -65.2% |
| Profit (loss) for the period before taxes | 9903 | €54,368 | €43,787 | -€10,581 | -19.5% |
| Income taxes | 67/77 | -€1,046 | €2,000 | +€3,046 | |
| Profit (loss) for the period | 9904 | €55,414 | €41,787 | -€13,627 | -24.6% |
| Profit (loss) for the period to be appropriated | 9905 | €55,414 | €41,787 | -€13,627 | -24.6% |
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.