LDV Management: 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.
LDV Management
Largest movements
- Tangible fixed assets -€27,467
down €27,467 (-3.9%), from €710,204 to €682,738
of which Land and buildings: -€28,138
- Reserves -€17,437
down €17,437 (-5.3%), from €326,609 to €309,172
of which Tax-exempt reserves: -€17,437
- Profit (loss) carried forward -€13,366
down €13,366 (-11.2%), from €118,961 to €105,595
- Other debts +€13,202
up €13,202 (+18.3%), from €71,979 to €85,181
- Provisions -€9,389
down €9,389 (-5.4%), from €174,865 to €165,476
- Taxes +€6,200
new in 2025: €6,200
- Depreciation -€5,902
down €5,902 (-17.3%), from €34,159 to €28,257
- Gross operating margin +€4,797
up €4,797 (+59.5%), from -€8,056 to -€3,259
- Other operating charges -€729
down €729 (-22.9%), from €3,178 to €2,450
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 | €712,274 | €684,619 | -€27,655 | -3.9% |
| Fixed assets | 21/28 | €710,204 | €682,738 | -€27,467 | -3.9% |
| Tangible fixed assets | 22/27 | €710,204 | €682,738 | -€27,467 | -3.9% |
| Land and buildings | 22 | €710,204 | €682,066 | -€28,138 | -4.0% |
| Furniture and vehicles | 24 | - | €672 | +€672 | |
| Current assets | 29/58 | €2,070 | €1,882 | -€189 | -9.1% |
| Amounts receivable within one year | 40/41 | - | €876 | +€876 | |
| Other amounts receivable | 41 | - | €876 | +€876 | |
| Cash at bank and in hand | 54/58 | €2,070 | €1,005 | -€1,065 | -51.4% |
| Total equity and liabilities | 10/49 | €712,274 | €684,619 | -€27,655 | -3.9% |
| Equity | 10/15 | €464,162 | €433,359 | -€30,803 | -6.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €326,609 | €309,172 | -€17,437 | -5.3% |
| Tax-exempt reserves | 132 | €324,750 | €307,312 | -€17,437 | -5.4% |
| Distributable reserves | 133 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €118,961 | €105,595 | -€13,366 | -11.2% |
| Provisions and deferred taxes | 16 | €174,865 | €165,476 | -€9,389 | -5.4% |
| Deferred taxes | 168 | €174,865 | €165,476 | -€9,389 | -5.4% |
| Amounts payable | 17/49 | €73,247 | €85,785 | +€12,538 | +17.1% |
| Amounts payable within one year | 42/48 | €73,247 | €85,785 | +€12,538 | +17.1% |
| Trade debts | 44 | €1,268 | €603 | -€664 | -52.4% |
| Suppliers | 440/4 | €1,268 | €603 | -€664 | -52.4% |
| Other amounts payable | 47/48 | €71,979 | €85,181 | +€13,202 | +18.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,159 | €28,257 | -€5,902 | -17.3% |
| Other operating charges | 640/8 | €3,178 | €2,450 | -€729 | -22.9% |
| Gross operating margin | 9900 | -€8,056 | -€3,259 | +€4,797 | +59.5% |
| Operating profit (loss) | 9901 | -€45,393 | -€33,966 | +€11,428 | +25.2% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €29 | €38 | +€9 | +31.6% |
| Recurring financial charges | 65 | €29 | €38 | +€9 | +31.6% |
| Profit (loss) for the period before taxes | 9903 | -€45,422 | -€33,993 | +€11,429 | +25.2% |
| Transfer from deferred taxes | 780 | €9,389 | €9,389 | = | 0.0% |
| Income taxes | 67/77 | - | €6,200 | +€6,200 | |
| Profit (loss) for the period | 9904 | -€36,032 | -€30,803 | +€5,229 | +14.5% |
| Transfer from tax-exempt reserves | 789 | €17,437 | €17,437 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,595 | -€13,366 | +€5,229 | +28.1% |
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.