LSVB: 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.
LSVB
Largest movements
- Receivables within one year +€17,642
up €17,642 (+304.8%), from €5,788 to €23,430
of which Other amounts receivable: +€14,066
- Cash +€10,082
up €10,082 (+114.7%), from €8,790 to €18,872
mainly Net result for the year (+€17,196) and Trade debts (+€11,100)
- Tangible fixed assets +€6,149
up €6,149 (+140.2%), from €4,386 to €10,535
- Profit (loss) carried forward +€17,196
up €17,196 (+90.5%), from -€19,007 to -€1,811
- Trade debts +€11,100
up €11,100 (+197.3%), from €5,627 to €16,727
- Debts after one year +€5,879
new in 2025: €5,879
- Tax, wage and social debts +€2,968
up €2,968 (+1789.1%), from €166 to €3,134
- Other debts -€2,574
down €2,574 (-53.7%), from €4,793 to €2,219
- Gross operating margin +€23,275
up €23,275 (+629.8%), from €3,696 to €26,971
- Depreciation -€3,156
down €3,156 (-38.7%), from €8,163 to €5,007
- Taxes +€2,807
up €2,807 (+1692.2%), from €166 to €2,973
- Financial charges -€660
down €660 (-60.0%), from €1,099 to €439
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 | €19,646 | €53,653 | +€34,007 | +173.1% |
| Fixed assets | 21/28 | €4,386 | €10,535 | +€6,149 | +140.2% |
| Tangible fixed assets | 22/27 | €4,386 | €10,535 | +€6,149 | +140.2% |
| Furniture and vehicles | 24 | €4,386 | €10,535 | +€6,149 | +140.2% |
| Current assets | 29/58 | €15,261 | €43,118 | +€27,857 | +182.5% |
| Amounts receivable within one year | 40/41 | €5,788 | €23,430 | +€17,642 | +304.8% |
| Trade receivables | 40 | €967 | €4,543 | +€3,576 | +369.9% |
| Other amounts receivable | 41 | €4,821 | €18,887 | +€14,066 | +291.7% |
| Cash at bank and in hand | 54/58 | €8,790 | €18,872 | +€10,082 | +114.7% |
| Deferred charges and accrued income | 490/1 | €683 | €816 | +€133 | +19.5% |
| Total equity and liabilities | 10/49 | €19,646 | €53,653 | +€34,007 | +173.1% |
| Equity | 10/15 | €5,590 | €22,786 | +€17,196 | +307.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €18,397 | €18,397 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €16,537 | €16,537 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,007 | -€1,811 | +€17,196 | +90.5% |
| Amounts payable | 17/49 | €14,057 | €30,867 | +€16,810 | +119.6% |
| Amounts payable after more than one year | 17 | - | €5,879 | +€5,879 | |
| Financial debts | 170/4 | - | €5,879 | +€5,879 | |
| Amounts payable within one year | 42/48 | €14,039 | €24,966 | +€10,927 | +77.8% |
| Current portion of amounts payable after more than one year | 42 | €3,453 | €2,886 | -€567 | -16.4% |
| Trade debts | 44 | €5,627 | €16,727 | +€11,100 | +197.3% |
| Suppliers | 440/4 | €5,627 | €16,727 | +€11,100 | +197.3% |
| Taxes, remuneration and social security | 45 | €166 | €3,134 | +€2,968 | +1789.1% |
| Taxes | 450/3 | €166 | €3,134 | +€2,968 | +1789.1% |
| Other amounts payable | 47/48 | €4,793 | €2,219 | -€2,574 | -53.7% |
| Accrued charges and deferred income | 492/3 | €18 | €22 | +€5 | +26.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,163 | €5,007 | -€3,156 | -38.7% |
| Other operating charges | 640/8 | €1,033 | €1,171 | +€138 | +13.4% |
| Non-recurring operating charges | 66A | €174 | €184 | +€10 | +6.0% |
| Gross operating margin | 9900 | €3,696 | €26,971 | +€23,275 | +629.8% |
| Operating profit (loss) | 9901 | -€5,673 | €20,609 | +€26,282 | |
| Financial income | 75/76B | €3 | €0 | -€3 | -99.3% |
| Recurring financial income | 75 | €3 | €0 | -€3 | -99.3% |
| Financial charges | 65/66B | €1,099 | €439 | -€660 | -60.0% |
| Recurring financial charges | 65 | €1,099 | €439 | -€660 | -60.0% |
| Profit (loss) for the period before taxes | 9903 | -€6,770 | €20,169 | +€26,939 | |
| Income taxes | 67/77 | €166 | €2,973 | +€2,807 | +1692.2% |
| Profit (loss) for the period | 9904 | -€6,936 | €17,196 | +€24,132 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,936 | €17,196 | +€24,132 |
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 10 October 2026 via checked.be.