LNV: 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.
LNV
Largest movements
- Tangible fixed assets -€92,051
down €92,051 (-25.9%), from €355,547 to €263,496
of which Plant, machinery and equipment: -€89,151
- Cash +€28,048
up €28,048 (+6.7%), from €420,893 to €448,940
mainly Net result for the year (+€181,606) and Depreciation (+€107,243)
- Deferred charges and accrued income +€16,195
up €16,195 (+138.8%), from €11,667 to €27,862
- Receivables within one year +€14,356
up €14,356 (+81.7%), from €17,572 to €31,928
of which Other amounts receivable: +€9,341
- Tax, wage and social debts -€243,700
down €243,700 (-87.1%), from €279,758 to €36,058
of which Remuneration and social security: -€206,531
- Reserves +€181,606
up €181,606 (+1524.8%), from €11,910 to €193,515
- Trade debts +€85,522
up €85,522 (+23.0%), from €371,404 to €456,926
- Debts after one year -€67,861
down €67,861 (-27.7%), from €244,622 to €176,761
- Gross operating margin -€68,495
down €68,495 (-10.1%), from €677,316 to €608,821
- Staff costs -€26,992
down €26,992 (-9.9%), from €271,554 to €244,562
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 | €1,056,523 | €1,013,374 | -€43,148 | -4.1% |
| Fixed assets | 21/28 | €355,547 | €263,496 | -€92,051 | -25.9% |
| Tangible fixed assets | 22/27 | €355,547 | €263,496 | -€92,051 | -25.9% |
| Plant, machinery and equipment | 23 | €342,838 | €253,687 | -€89,151 | -26.0% |
| Furniture and vehicles | 24 | €12,709 | €9,809 | -€2,900 | -22.8% |
| Current assets | 29/58 | €700,976 | €749,878 | +€48,902 | +7.0% |
| Stocks and contracts in progress | 3 | €250,844 | €241,148 | -€9,696 | -3.9% |
| Stocks | 30/36 | €250,844 | €241,148 | -€9,696 | -3.9% |
| Amounts receivable within one year | 40/41 | €17,572 | €31,928 | +€14,356 | +81.7% |
| Trade receivables | 40 | €1,464 | €6,479 | +€5,015 | +342.5% |
| Other amounts receivable | 41 | €16,108 | €25,449 | +€9,341 | +58.0% |
| Cash at bank and in hand | 54/58 | €420,893 | €448,940 | +€28,048 | +6.7% |
| Deferred charges and accrued income | 490/1 | €11,667 | €27,862 | +€16,195 | +138.8% |
| Total equity and liabilities | 10/49 | €1,056,523 | €1,013,374 | -€43,148 | -4.1% |
| Equity | 10/15 | €61,910 | €243,515 | +€181,606 | +293.3% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €11,910 | €193,515 | +€181,606 | +1524.8% |
| Distributable reserves | 133 | €11,910 | €193,515 | +€181,606 | +1524.8% |
| Amounts payable | 17/49 | €994,613 | €769,859 | -€224,754 | -22.6% |
| Amounts payable after more than one year | 17 | €244,622 | €176,761 | -€67,861 | -27.7% |
| Financial debts | 170/4 | €244,622 | €176,761 | -€67,861 | -27.7% |
| Amounts payable within one year | 42/48 | €749,991 | €593,098 | -€156,893 | -20.9% |
| Current portion of amounts payable after more than one year | 42 | €98,829 | €100,114 | +€1,285 | +1.3% |
| Trade debts | 44 | €371,404 | €456,926 | +€85,522 | +23.0% |
| Suppliers | 440/4 | €371,404 | €456,926 | +€85,522 | +23.0% |
| Taxes, remuneration and social security | 45 | €279,758 | €36,058 | -€243,700 | -87.1% |
| Taxes | 450/3 | €38,548 | €1,379 | -€37,169 | -96.4% |
| Remuneration and social security | 454/9 | €241,211 | €34,679 | -€206,531 | -85.6% |
| Remuneration, social security and pensions | 62 | €271,554 | €244,562 | -€26,992 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €101,741 | €107,243 | +€5,502 | +5.4% |
| Other operating charges | 640/8 | €2,134 | €2,122 | -€12 | -0.6% |
| Gross operating margin | 9900 | €677,316 | €608,821 | -€68,495 | -10.1% |
| Operating profit (loss) | 9901 | €301,887 | €254,895 | -€46,992 | -15.6% |
| Financial income | 75/76B | €3,665 | €2,112 | -€1,553 | -42.4% |
| Recurring financial income | 75 | €3,665 | €2,112 | -€1,553 | -42.4% |
| Financial charges | 65/66B | €19,372 | €20,314 | +€941 | +4.9% |
| Recurring financial charges | 65 | €19,372 | €20,314 | +€941 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €286,179 | €236,694 | -€49,486 | -17.3% |
| Income taxes | 67/77 | €56,773 | €55,088 | -€1,685 | -3.0% |
| Profit (loss) for the period | 9904 | €229,407 | €181,606 | -€47,801 | -20.8% |
| Profit (loss) for the period to be appropriated | 9905 | €229,407 | €181,606 | -€47,801 | -20.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.