LHVK: 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.
LHVK
Largest movements
- Receivables within one year +€23,098
up €23,098 (+249%), from €9,258 to €32,356
of which Trade receivables: +€17,301
- Tangible fixed assets -€20,027
down €20,027 (-46.2%), from €43,353 to €23,326
of which Furniture and vehicles: -€16,977
- Intangible fixed assets -€20,000
down €20,000 (-44.4%), from €45,000 to €25,000
- Cash -€18,822
down €18,822 (-9.1%), from €207,243 to €188,421
mainly Contributions, distributions and other (-€75,000) and Other debts (-€71,279)
- Other debts -€71,279
down €71,279 (-55.8%), from €127,773 to €56,494
- Profit (loss) carried forward +€28,199
up €28,199 (+23.1%), from €122,226 to €150,425
- Trade debts +€12,559
up €12,559 (+494%), from €2,541 to €15,100
- Debts after one year -€10,103
down €10,103 (-79.9%), from €12,638 to €2,535
- Tax, wage and social debts +€4,594
up €4,594 (+27.2%), from €16,894 to €21,488
of which Taxes: +€4,451
- Gross operating margin -€23,845
down €23,845 (-10.2%), from €234,108 to €210,264
- Taxes -€5,568
down €5,568 (-13.1%), from €42,513 to €36,945
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 | €310,666 | €274,695 | -€35,971 | -11.6% |
| Fixed assets | 21/28 | €93,107 | €53,080 | -€40,027 | -43.0% |
| Intangible fixed assets | 21 | €45,000 | €25,000 | -€20,000 | -44.4% |
| Tangible fixed assets | 22/27 | €43,353 | €23,326 | -€20,027 | -46.2% |
| Furniture and vehicles | 24 | €39,286 | €22,309 | -€16,977 | -43.2% |
| Other tangible fixed assets | 26 | €4,067 | €1,017 | -€3,050 | -75.0% |
| Financial fixed assets | 28 | €4,754 | €4,754 | = | 0.0% |
| Current assets | 29/58 | €217,559 | €221,614 | +€4,055 | +1.9% |
| Amounts receivable within one year | 40/41 | €9,258 | €32,356 | +€23,098 | +249% |
| Trade receivables | 40 | €0 | €17,301 | +€17,301 | +173,007,400% |
| Other amounts receivable | 41 | €9,258 | €15,055 | +€5,797 | +62.6% |
| Cash at bank and in hand | 54/58 | €207,243 | €188,421 | -€18,822 | -9.1% |
| Deferred charges and accrued income | 490/1 | €1,058 | €838 | -€220 | -20.8% |
| Total equity and liabilities | 10/49 | €310,666 | €274,695 | -€35,971 | -11.6% |
| Equity | 10/15 | €140,776 | €168,975 | +€28,199 | +20.0% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | €122,226 | €150,425 | +€28,199 | +23.1% |
| Amounts payable | 17/49 | €169,890 | €105,720 | -€64,171 | -37.8% |
| Amounts payable after more than one year | 17 | €12,638 | €2,535 | -€10,103 | -79.9% |
| Financial debts | 170/4 | €12,638 | €2,535 | -€10,103 | -79.9% |
| Amounts payable within one year | 42/48 | €157,253 | €103,185 | -€54,067 | -34.4% |
| Current portion of amounts payable after more than one year | 42 | €10,044 | €10,103 | +€59 | +0.6% |
| Trade debts | 44 | €2,541 | €15,100 | +€12,559 | +494% |
| Suppliers | 440/4 | €2,541 | €15,100 | +€12,559 | +494% |
| Taxes, remuneration and social security | 45 | €16,894 | €21,488 | +€4,594 | +27.2% |
| Taxes | 450/3 | €12,911 | €17,362 | +€4,451 | +34.5% |
| Remuneration and social security | 454/9 | €3,984 | €4,126 | +€143 | +3.6% |
| Other amounts payable | 47/48 | €127,773 | €56,494 | -€71,279 | -55.8% |
| Remuneration, social security and pensions | 62 | €26,630 | €27,840 | +€1,210 | +4.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,343 | €40,027 | +€683 | +1.7% |
| Other operating charges | 640/8 | €1,308 | €1,466 | +€158 | +12.1% |
| Gross operating margin | 9900 | €234,108 | €210,264 | -€23,845 | -10.2% |
| Operating profit (loss) | 9901 | €166,827 | €140,931 | -€25,896 | -15.5% |
| Financial income | 75/76B | - | €46 | +€46 | |
| Recurring financial income | 75 | - | €46 | +€46 | |
| Financial charges | 65/66B | €2,538 | €832 | -€1,706 | -67.2% |
| Recurring financial charges | 65 | €2,538 | €832 | -€1,706 | -67.2% |
| Profit (loss) for the period before taxes | 9903 | €164,289 | €140,145 | -€24,144 | -14.7% |
| Income taxes | 67/77 | €42,513 | €36,945 | -€5,568 | -13.1% |
| Profit (loss) for the period | 9904 | €121,775 | €103,199 | -€18,576 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €121,775 | €103,199 | -€18,576 | -15.3% |
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 18 October 2026 via checked.be.