LORVE: 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.
LORVE
Largest movements
- Cash +€18,497
up €18,497 (+68.5%), from €26,994 to €45,491
mainly Depreciation (+€15,495) and Net result for the year (+€13,643)
- Tangible fixed assets -€9,536
down €9,536 (-22.4%), from €42,581 to €33,045
of which Furniture and vehicles: -€11,372
- Receivables within one year -€1,944
down €1,944 (-6.2%), from €31,586 to €29,642
of which Trade receivables: -€1,918
- Debts after one year -€9,009
down €9,009 (-18.3%), from €49,252 to €40,243
of which Financial debts: -€5,009
- Reserves +€8,399
up €8,399 (+104%), from €8,086 to €16,485
of which Distributable reserves: +€10,000
- Tax, wage and social debts +€7,392
up €7,392 (+307%), from €2,408 to €9,800
of which Taxes: +€7,382
- Profit (loss) carried forward +€5,244
up €5,244 (+63.1%), from -€8,316 to -€3,072
- Current portion of long-term debt -€5,016
down €5,016 (-50.0%), from €10,025 to €5,009
- Gross operating margin +€20,361
up €20,361 (+105%), from €19,450 to €39,811
- Taxes +€7,252
up €7,252 (+1,319%), from €550 to €7,802
- Depreciation -€2,977
down €2,977 (-16.1%), from €18,472 to €15,495
- Financial charges +€1,068
up €1,068 (+74.0%), from €1,443 to €2,511
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 | €185,368 | €191,765 | +€6,397 | +3.5% |
| Fixed assets | 21/28 | €42,671 | €33,135 | -€9,536 | -22.3% |
| Tangible fixed assets | 22/27 | €42,581 | €33,045 | -€9,536 | -22.4% |
| Plant, machinery and equipment | 23 | €2,160 | €3,996 | +€1,836 | +85.0% |
| Furniture and vehicles | 24 | €40,421 | €29,049 | -€11,372 | -28.1% |
| Financial fixed assets | 28 | €90 | €90 | = | 0.0% |
| Current assets | 29/58 | €142,697 | €158,630 | +€15,933 | +11.2% |
| Stocks and contracts in progress | 3 | €82,500 | €82,500 | = | 0.0% |
| Stocks | 30/36 | €82,500 | €82,500 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €31,586 | €29,642 | -€1,944 | -6.2% |
| Trade receivables | 40 | €31,501 | €29,583 | -€1,918 | -6.1% |
| Other amounts receivable | 41 | €85 | €59 | -€26 | -30.6% |
| Cash at bank and in hand | 54/58 | €26,994 | €45,491 | +€18,497 | +68.5% |
| Deferred charges and accrued income | 490/1 | €1,617 | €997 | -€620 | -38.3% |
| Total equity and liabilities | 10/49 | €185,368 | €191,765 | +€6,397 | +3.5% |
| Equity | 10/15 | €18,320 | €31,963 | +€13,643 | +74.5% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €8,086 | €16,485 | +€8,399 | +104% |
| Tax-exempt reserves | 132 | €6,231 | €4,630 | -€1,601 | -25.7% |
| Distributable reserves | 133 | €1,855 | €11,855 | +€10,000 | +539% |
| Profit (loss) carried forward | 14 | -€8,316 | -€3,072 | +€5,244 | +63.1% |
| Provisions and deferred taxes | 16 | €1,558 | €1,157 | -€401 | -25.7% |
| Deferred taxes | 168 | €1,558 | €1,157 | -€401 | -25.7% |
| Amounts payable | 17/49 | €165,490 | €158,645 | -€6,845 | -4.1% |
| Amounts payable after more than one year | 17 | €49,252 | €40,243 | -€9,009 | -18.3% |
| Financial debts | 170/4 | €15,252 | €10,243 | -€5,009 | -32.8% |
| Other amounts payable | 178/9 | €34,000 | €30,000 | -€4,000 | -11.8% |
| Amounts payable within one year | 42/48 | €114,171 | €116,722 | +€2,551 | +2.2% |
| Current portion of amounts payable after more than one year | 42 | €10,025 | €5,009 | -€5,016 | -50.0% |
| Trade debts | 44 | €85,058 | €85,101 | +€43 | +0.1% |
| Suppliers | 440/4 | €85,058 | €85,101 | +€43 | +0.1% |
| Taxes, remuneration and social security | 45 | €2,408 | €9,800 | +€7,392 | +307% |
| Taxes | 450/3 | €831 | €8,213 | +€7,382 | +888% |
| Remuneration and social security | 454/9 | €1,577 | €1,587 | +€10 | +0.6% |
| Other amounts payable | 47/48 | €16,680 | €16,812 | +€132 | +0.8% |
| Accrued charges and deferred income | 492/3 | €2,067 | €1,680 | -€387 | -18.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,472 | €15,495 | -€2,977 | -16.1% |
| Other operating charges | 640/8 | €915 | €776 | -€139 | -15.2% |
| Gross operating margin | 9900 | €19,450 | €39,811 | +€20,361 | +105% |
| Operating profit (loss) | 9901 | €63 | €23,540 | +€23,477 | +37,265% |
| Financial income | 75/76B | - | €15 | +€15 | |
| Recurring financial income | 75 | - | €15 | +€15 | |
| Financial charges | 65/66B | €1,443 | €2,511 | +€1,068 | +74.0% |
| Recurring financial charges | 65 | €1,443 | €2,511 | +€1,068 | +74.0% |
| Profit (loss) for the period before taxes | 9903 | -€1,380 | €21,044 | +€22,424 | |
| Transfer from deferred taxes | 780 | €400 | €401 | +€1 | +0.3% |
| Income taxes | 67/77 | €550 | €7,802 | +€7,252 | +1,319% |
| Profit (loss) for the period | 9904 | -€1,530 | €13,643 | +€15,173 | |
| Transfer from tax-exempt reserves | 789 | €1,602 | €1,601 | -€1 | -0.1% |
| Profit (loss) for the period to be appropriated | 9905 | €72 | €15,244 | +€15,172 | +21,072% |
Source: filed annual accounts (NBB), financial years ended 31 October 2024 and 31 October 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.