LCVS: what changed
Two fiscal 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.
LCVS
Largest movements
- Cash +€22,449
up €22,449 (+379.6%), from €5,913 to €28,362
mainly Receivables within one year (+€20,331) and Stocks and contracts (+€8,009)
- Receivables within one year -€20,331
down €20,331 (-41.1%), from €49,440 to €29,109
of which Trade receivables: -€15,970
- Stocks and contracts -€8,009
down €8,009 (-9.4%), from €85,184 to €77,175
- Debts after one year -€10,183
down €10,183 (-56.8%), from €17,919 to €7,736
- Reserves +€7,211
up €7,211 (+23.0%), from €31,300 to €38,511
- Tax, wage and social debts -€6,131
down €6,131 (-58.9%), from €10,411 to €4,280
- Trade debts +€1,844
up €1,844 (+198.9%), from €927 to €2,771
- Gross operating margin +€7,186
up €7,186 (+114.2%), from €6,292 to €13,478
- Write-downs +€2,517
new in 2025: €2,517
- Taxes +€1,843
up €1,843 (+235.4%), from €783 to €2,625
- Financial income +€1,133
up €1,133 (+127.6%), from €888 to €2,020
- Financial charges -€136
down €136 (-5.8%), from €2,335 to €2,199
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.
Cash bridge derived
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 | €141,015 | €134,696 | -€6,318 | -4.5% |
| Fixed assets | 21/28 | €477 | €50 | -€427 | -89.5% |
| Tangible fixed assets | 22/27 | €477 | €50 | -€427 | -89.5% |
| Plant, machinery and equipment | 23 | €477 | €50 | -€427 | -89.5% |
| Current assets | 29/58 | €140,538 | €134,646 | -€5,892 | -4.2% |
| Stocks and contracts in progress | 3 | €85,184 | €77,175 | -€8,009 | -9.4% |
| Stocks | 30/36 | €85,184 | €77,175 | -€8,009 | -9.4% |
| Amounts receivable within one year | 40/41 | €49,440 | €29,109 | -€20,331 | -41.1% |
| Trade receivables | 40 | €28,585 | €12,615 | -€15,970 | -55.9% |
| Other amounts receivable | 41 | €20,855 | €16,494 | -€4,362 | -20.9% |
| Cash at bank and in hand | 54/58 | €5,913 | €28,362 | +€22,449 | +379.6% |
| Total equity and liabilities | 10/49 | €141,015 | €134,696 | -€6,318 | -4.5% |
| Equity | 10/15 | €51,300 | €58,511 | +€7,211 | +14.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €31,300 | €38,511 | +€7,211 | +23.0% |
| Distributable reserves | 133 | €31,300 | €38,511 | +€7,211 | +23.0% |
| Amounts payable | 17/49 | €89,715 | €76,185 | -€13,530 | -15.1% |
| Amounts payable after more than one year | 17 | €17,919 | €7,736 | -€10,183 | -56.8% |
| Financial debts | 170/4 | €17,919 | €7,736 | -€10,183 | -56.8% |
| Amounts payable within one year | 42/48 | €71,796 | €68,449 | -€3,347 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €10,035 | €10,183 | +€149 | +1.5% |
| Trade debts | 44 | €927 | €2,771 | +€1,844 | +198.9% |
| Suppliers | 440/4 | €927 | €2,771 | +€1,844 | +198.9% |
| Taxes, remuneration and social security | 45 | €10,411 | €4,280 | -€6,131 | -58.9% |
| Taxes | 450/3 | €10,411 | €4,280 | -€6,131 | -58.9% |
| Other amounts payable | 47/48 | €50,423 | €51,215 | +€792 | +1.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €427 | €427 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,517 | +€2,517 | |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €6,292 | €13,478 | +€7,186 | +114.2% |
| Operating profit (loss) | 9901 | €5,360 | €10,015 | +€4,655 | +86.8% |
| Financial income | 75/76B | €888 | €2,020 | +€1,133 | +127.6% |
| Recurring financial income | 75 | €888 | €2,020 | +€1,133 | +127.6% |
| Financial charges | 65/66B | €2,335 | €2,199 | -€136 | -5.8% |
| Recurring financial charges | 65 | €2,335 | €2,199 | -€136 | -5.8% |
| Profit (loss) for the period before taxes | 9903 | €3,913 | €9,837 | +€5,924 | +151.4% |
| Income taxes | 67/77 | €783 | €2,625 | +€1,843 | +235.4% |
| Profit (loss) for the period | 9904 | €3,130 | €7,211 | +€4,081 | +130.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,130 | €7,211 | +€4,081 | +130.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.