LKV: 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.
LKV
Largest movements
- Cash -€791,613
down €791,613 (-58.1%), from €1.4m to €570,209
mainly Current investments (-€684,946) and Receivables within one year (-€185,540)
- Current investments +€684,946
new in 2025: €684,946
- Receivables within one year +€185,540
up €185,540 (+454.6%), from €40,818 to €226,359
of which Trade receivables: +€187,541
- Tangible fixed assets +€53,099
up €53,099 (+6.7%), from €794,082 to €847,181
of which Leasing and similar rights: +€155,736
- Profit (loss) carried forward +€406,499
up €406,499 (+64.5%), from €630,471 to €1.0m
- Trade debts -€175,749
down €175,749 (-43.0%), from €409,088 to €233,339
- Tax, wage and social debts -€74,363
down €74,363 (-97.7%), from €76,103 to €1,740
of which Taxes: -€75,803
- Gross operating margin +€33,865
up €33,865 (+5.2%), from €654,142 to €688,008
- Taxes -€15,952
down €15,952 (-12.0%), from €133,423 to €117,471
- Staff costs +€9,751
up €9,751 (+49.7%), from €19,622 to €29,373
- Depreciation +€9,239
up €9,239 (+7.6%), from €121,252 to €130,491
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 | €2,261,468 | €2,414,497 | +€153,030 | +6.8% |
| Fixed assets | 21/28 | €794,112 | €847,181 | +€53,069 | +6.7% |
| Tangible fixed assets | 22/27 | €794,082 | €847,181 | +€53,099 | +6.7% |
| Land and buildings | 22 | €568,637 | €514,175 | -€54,462 | -9.6% |
| Plant, machinery and equipment | 23 | €87,518 | €66,710 | -€20,807 | -23.8% |
| Furniture and vehicles | 24 | €77,016 | €49,648 | -€27,368 | -35.5% |
| Leasing and similar rights | 25 | €60,911 | €216,647 | +€155,736 | +255.7% |
| Financial fixed assets | 28 | €30 | €0 | -€30 | -100.0% |
| Current assets | 29/58 | €1,467,356 | €1,567,317 | +€99,960 | +6.8% |
| Stocks and contracts in progress | 3 | €24,731 | €24,731 | = | 0.0% |
| Stocks | 30/36 | €24,731 | €24,731 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,818 | €226,359 | +€185,540 | +454.6% |
| Trade receivables | 40 | €242 | €187,783 | +€187,541 | +77397.1% |
| Other amounts receivable | 41 | €40,576 | €38,575 | -€2,001 | -4.9% |
| Current investments | 50/53 | - | €684,946 | +€684,946 | |
| Cash at bank and in hand | 54/58 | €1,361,823 | €570,209 | -€791,613 | -58.1% |
| Deferred charges and accrued income | 490/1 | €39,984 | €61,071 | +€21,087 | +52.7% |
| Total equity and liabilities | 10/49 | €2,261,468 | €2,414,497 | +€153,030 | +6.8% |
| Equity | 10/15 | €1,016,481 | €1,422,981 | +€406,499 | +40.0% |
| Contributions | 10/11 | €288,700 | €288,700 | = | 0.0% |
| Reserves | 13 | €97,311 | €97,311 | = | 0.0% |
| Distributable reserves | 133 | €97,311 | €97,311 | = | 0.0% |
| Profit (loss) carried forward | 14 | €630,471 | €1,036,970 | +€406,499 | +64.5% |
| Provisions and deferred taxes | 16 | €150,000 | €150,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €150,000 | €150,000 | = | 0.0% |
| Other liabilities and charges | 164/5 | €150,000 | €150,000 | = | 0.0% |
| Amounts payable | 17/49 | €1,094,986 | €841,517 | -€253,470 | -23.1% |
| Amounts payable after more than one year | 17 | €586,612 | €582,803 | -€3,809 | -0.6% |
| Financial debts | 170/4 | €17,684 | €0 | -€17,684 | -100.0% |
| Other amounts payable | 178/9 | €568,929 | €582,803 | +€13,875 | +2.4% |
| Amounts payable within one year | 42/48 | €506,686 | €255,594 | -€251,091 | -49.6% |
| Current portion of amounts payable after more than one year | 42 | €20,256 | €19,266 | -€990 | -4.9% |
| Financial debts | 43 | €68 | €79 | +€12 | +17.1% |
| Credit institutions | 430/8 | €68 | €79 | +€12 | +17.1% |
| Trade debts | 44 | €409,088 | €233,339 | -€175,749 | -43.0% |
| Suppliers | 440/4 | €409,088 | €233,339 | -€175,749 | -43.0% |
| Taxes, remuneration and social security | 45 | €76,103 | €1,740 | -€74,363 | -97.7% |
| Taxes | 450/3 | €76,103 | €300 | -€75,803 | -99.6% |
| Remuneration and social security | 454/9 | - | €1,440 | +€1,440 | |
| Other amounts payable | 47/48 | €1,170 | €1,170 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €1,689 | €3,119 | +€1,430 | +84.7% |
| Remuneration, social security and pensions | 62 | €19,622 | €29,373 | +€9,751 | +49.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €121,252 | €130,491 | +€9,239 | +7.6% |
| Other operating charges | 640/8 | €11,776 | €8,391 | -€3,385 | -28.7% |
| Non-recurring operating charges | 66A | €5,463 | €51 | -€5,412 | -99.1% |
| Gross operating margin | 9900 | €654,142 | €688,008 | +€33,865 | +5.2% |
| Operating profit (loss) | 9901 | €496,030 | €519,702 | +€23,673 | +4.8% |
| Financial income | 75/76B | €6,799 | €10,579 | +€3,780 | +55.6% |
| Recurring financial income | 75 | €6,799 | €10,579 | +€3,780 | +55.6% |
| Financial charges | 65/66B | €5,462 | €6,311 | +€849 | +15.6% |
| Recurring financial charges | 65 | €5,462 | €6,311 | +€849 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €497,367 | €523,970 | +€26,603 | +5.3% |
| Income taxes | 67/77 | €133,423 | €117,471 | -€15,952 | -12.0% |
| Profit (loss) for the period | 9904 | €363,944 | €406,499 | +€42,555 | +11.7% |
| Profit (loss) for the period to be appropriated | 9905 | €363,944 | €406,499 | +€42,555 | +11.7% |
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 10 October 2026 via checked.be.