LPV: 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.
What changed
LPV
NACE 81.300, Landscape service activities
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€19,503
2024 · €144,633-€164,135
Equity
€328,453
2024 · €347,955-€19,503
Cash
€72,194
2024 · €118,876-€46,682
Balance sheet total
€1.3m
2024 · €846,055+€449,863
Largest movements
Assets
- Stocks and contracts +€464,818
up €464,818 (+320%), from €145,056 to €609,875
- Tangible fixed assets +€75,154
up €75,154 (+18.1%), from €415,475 to €490,629
of which Land and buildings: +€91,485
- Cash -€46,682
down €46,682 (-39.3%), from €118,876 to €72,194
mainly Stocks and contracts (-€464,818) and Trade debts (-€121,448)
- Receivables within one year -€43,544
down €43,544 (-26.2%), from €165,953 to €122,408
of which Other amounts receivable: -€64,223
Equity and liabilities
- Short-term financial debts +€627,845
new in 2025: €627,845
- Trade debts -€121,448
down €121,448 (-60.8%), from €199,907 to €78,460
- Debts after one year -€23,198
down €23,198 (-10.7%), from €216,215 to €193,016
- Current portion of long-term debt -€14,579
down €14,579 (-38.6%), from €37,777 to €23,198
Income statement
- Gross operating margin -€194,491
down €194,491 (-84.9%), from €229,146 to €34,655
- Financial charges +€12,957
up €12,957 (+130%), from €9,940 to €22,897
- Depreciation -€3,447
down €3,447 (-11.1%), from €30,972 to €27,526
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.
Result 2024
€144,633
Gross operating margin
-€194,491
Depreciation
+€3,447
Other operating charges
-€826
Other operating items
+€680
Financial income
+€41
Financial charges
-€12,957
Taxes
+€244
Deferred taxes and other
+€39,728
Result 2025
-€19,503
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
-€534,070
Investment
-€102,680
Financing
+€590,068
Cash 2024
€118,876
From operations (derived)
-€534,070
Net result for the year
-€19,503
Depreciation
+€27,526
Stocks and contracts
-€464,818
Receivables within one year
+€43,544
Deferred charges and accrued income
-€117
Provisions
-€2,049
Trade debts
-€121,448
Tax, wage and social debts
-€4,264
Advances received
+€7,058
Investment (derived)
-€102,680
Investment in fixed assets (net)
-€102,680
Financing
+€590,068
Debts after one year
-€23,198
Current portion of long-term debt
-€14,579
Short-term financial debts
+€627,845
Cash 2025
€72,194
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €846,055 | €1,295,918 | +€449,863 | +53.2% |
| Fixed assets | 21/28 | €415,475 | €490,629 | +€75,154 | +18.1% |
| Tangible fixed assets | 22/27 | €415,475 | €490,629 | +€75,154 | +18.1% |
| Land and buildings | 22 | €366,219 | €457,704 | +€91,485 | +25.0% |
| Plant, machinery and equipment | 23 | €23,873 | €14,048 | -€9,825 | -41.2% |
| Furniture and vehicles | 24 | €19,745 | €16,603 | -€3,142 | -15.9% |
| Other tangible fixed assets | 26 | €5,638 | €2,275 | -€3,363 | -59.6% |
| Current assets | 29/58 | €430,580 | €805,289 | +€374,709 | +87.0% |
| Stocks and contracts in progress | 3 | €145,056 | €609,875 | +€464,818 | +320% |
| Stocks | 30/36 | €145,056 | €609,875 | +€464,818 | +320% |
| Amounts receivable within one year | 40/41 | €165,953 | €122,408 | -€43,544 | -26.2% |
| Trade receivables | 40 | €44,621 | €65,299 | +€20,678 | +46.3% |
| Other amounts receivable | 41 | €121,332 | €57,109 | -€64,223 | -52.9% |
| Cash at bank and in hand | 54/58 | €118,876 | €72,194 | -€46,682 | -39.3% |
| Deferred charges and accrued income | 490/1 | €695 | €812 | +€117 | +16.8% |
| Total equity and liabilities | 10/49 | €846,055 | €1,295,918 | +€449,863 | +53.2% |
| Equity | 10/15 | €347,955 | €328,453 | -€19,503 | -5.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €279,498 | €271,301 | -€8,197 | -2.9% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €150,716 | €142,519 | -€8,197 | -5.4% |
| Distributable reserves | 133 | €128,782 | €128,782 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,857 | €38,552 | -€11,305 | -22.7% |
| Provisions and deferred taxes | 16 | €37,679 | €35,630 | -€2,049 | -5.4% |
| Deferred taxes | 168 | €37,679 | €35,630 | -€2,049 | -5.4% |
| Amounts payable | 17/49 | €460,421 | €931,836 | +€471,415 | +102% |
| Amounts payable after more than one year | 17 | €216,215 | €193,016 | -€23,198 | -10.7% |
| Financial debts | 170/4 | €216,215 | €193,016 | -€23,198 | -10.7% |
| Amounts payable within one year | 42/48 | €244,206 | €738,820 | +€494,614 | +203% |
| Current portion of amounts payable after more than one year | 42 | €37,777 | €23,198 | -€14,579 | -38.6% |
| Financial debts | 43 | - | €627,845 | +€627,845 | |
| Credit institutions | 430/8 | - | €627,845 | +€627,845 | |
| Trade debts | 44 | €199,907 | €78,460 | -€121,448 | -60.8% |
| Suppliers | 440/4 | €199,907 | €78,460 | -€121,448 | -60.8% |
| Advances received on contracts in progress | 46 | €1,451 | €8,509 | +€7,058 | +486% |
| Taxes, remuneration and social security | 45 | €5,071 | €807 | -€4,264 | -84.1% |
| Taxes | 450/3 | €571 | €807 | +€236 | +41.4% |
| Remuneration and social security | 454/9 | €4,500 | €0 | -€4,500 | -100% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Non-recurring operating income | 76A | €208,497 | €15,000 | -€193,497 | -92.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,972 | €27,526 | -€3,447 | -11.1% |
| Other operating charges | 640/8 | €4,522 | €5,349 | +€826 | +18.3% |
| Non-recurring operating charges | 66A | €680 | €0 | -€680 | -100% |
| Gross operating margin | 9900 | €229,146 | €34,655 | -€194,491 | -84.9% |
| Operating profit (loss) | 9901 | €192,972 | €1,781 | -€191,191 | -99.1% |
| Financial income | 75/76B | €1 | €42 | +€41 | +3,674% |
| Recurring financial income | 75 | €1 | €42 | +€41 | +3,674% |
| Financial charges | 65/66B | €9,940 | €22,897 | +€12,957 | +130% |
| Recurring financial charges | 65 | €9,940 | €22,897 | +€12,957 | +130% |
| Profit (loss) for the period before taxes | 9903 | €183,033 | -€21,075 | -€204,108 | |
| Transfer from deferred taxes | 780 | €3,721 | €2,049 | -€1,672 | -44.9% |
| Transfer to deferred taxes | 680 | €41,400 | €0 | -€41,400 | -100% |
| Income taxes | 67/77 | €722 | €477 | -€244 | -33.8% |
| Profit (loss) for the period | 9904 | €144,633 | -€19,503 | -€164,135 | |
| Transfer from tax-exempt reserves | 789 | €14,884 | €8,197 | -€6,686 | -44.9% |
| Transfer to tax-exempt reserves | 689 | €165,600 | €0 | -€165,600 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,084 | -€11,305 | -€5,221 | -85.8% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 31 October 2026 via checked.be.