LV: what changed
What changed
LV
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€225,778
2024 · €329,666-€103,888
Equity
€20,460
2024 · €20,460
Cash
€158,296
2024 · €269,717-€111,421
Balance sheet total
€281,824
2024 · €399,589-€117,765
Largest movements
Assets
- Cash -€111,421
down €111,421 (-41.3%), from €269,717 to €158,296
mainly Contributions, distributions and other (-€225,778) and Other debts (-€88,725)
- Tangible fixed assets -€23,432
down €23,432 (-28.5%), from €82,353 to €58,921
- Deferred charges and accrued income +€19,711
up €19,711 (+2,500%), from €789 to €20,500
Equity and liabilities
- Other debts -€88,725
down €88,725 (-30.5%), from €290,801 to €202,077
- Debts after one year -€15,298
down €15,298 (-92.3%), from €16,580 to €1,282
- Tax, wage and social debts -€13,968
down €13,968 (-24.8%), from €56,297 to €42,329
Income statement
- Gross operating margin -€140,901
down €140,901 (-29.9%), from €471,235 to €330,334
- Taxes -€33,013
down €33,013 (-29.9%), from €110,352 to €77,339
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€329,666
Gross operating margin
-€140,901
Depreciation
+€2,169
Other operating charges
-€328
Financial income
+€2,004
Financial charges
+€156
Taxes
+€33,013
Result 2025
€225,778
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€133,828
Investment
-€4,331
Financing
-€240,919
Cash 2024
€269,717
From operations (derived)
+€133,828
Net result for the year
+€225,778
Depreciation
+€27,763
Receivables within one year
+€2,623
Deferred charges and accrued income
-€19,711
Trade debts
+€69
Tax, wage and social debts
-€13,968
Other debts
-€88,725
Investment (derived)
-€4,331
Investment in fixed assets (net)
-€4,331
Financing
-€240,919
Debts after one year
-€15,298
Current portion of long-term debt
+€157
Contributions, distributions and other
-€225,778
Cash 2025
€158,296
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €399,589 | €281,824 | -€117,765 | -29.5% |
| Fixed assets | 21/28 | €82,353 | €58,921 | -€23,432 | -28.5% |
| Tangible fixed assets | 22/27 | €82,353 | €58,921 | -€23,432 | -28.5% |
| Furniture and vehicles | 24 | €82,353 | €58,921 | -€23,432 | -28.5% |
| Current assets | 29/58 | €317,236 | €222,903 | -€94,333 | -29.7% |
| Amounts receivable within one year | 40/41 | €46,730 | €44,107 | -€2,623 | -5.6% |
| Trade receivables | 40 | €41,703 | €40,459 | -€1,243 | -3.0% |
| Other amounts receivable | 41 | €5,027 | €3,648 | -€1,379 | -27.4% |
| Cash at bank and in hand | 54/58 | €269,717 | €158,296 | -€111,421 | -41.3% |
| Deferred charges and accrued income | 490/1 | €789 | €20,500 | +€19,711 | +2,500% |
| Total equity and liabilities | 10/49 | €399,589 | €281,824 | -€117,765 | -29.5% |
| Equity | 10/15 | €20,460 | €20,460 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Amounts payable | 17/49 | €379,129 | €261,364 | -€117,765 | -31.1% |
| Amounts payable after more than one year | 17 | €16,580 | €1,282 | -€15,298 | -92.3% |
| Financial debts | 170/4 | €16,580 | €1,282 | -€15,298 | -92.3% |
| Amounts payable within one year | 42/48 | €362,549 | €260,082 | -€102,466 | -28.3% |
| Current portion of amounts payable after more than one year | 42 | €15,141 | €15,298 | +€157 | +1.0% |
| Trade debts | 44 | €309 | €378 | +€69 | +22.4% |
| Suppliers | 440/4 | €309 | €378 | +€69 | +22.4% |
| Taxes, remuneration and social security | 45 | €56,297 | €42,329 | -€13,968 | -24.8% |
| Taxes | 450/3 | €56,297 | €42,329 | -€13,968 | -24.8% |
| Other amounts payable | 47/48 | €290,801 | €202,077 | -€88,725 | -30.5% |
| Non-recurring operating income | 76A | €1,500 | - | -€1,500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,932 | €27,763 | -€2,169 | -7.2% |
| Other operating charges | 640/8 | €2,118 | €2,446 | +€328 | +15.5% |
| Gross operating margin | 9900 | €471,235 | €330,334 | -€140,901 | -29.9% |
| Operating profit (loss) | 9901 | €439,186 | €300,125 | -€139,060 | -31.7% |
| Financial income | 75/76B | €1,286 | €3,291 | +€2,004 | +156% |
| Recurring financial income | 75 | €1,286 | €3,291 | +€2,004 | +156% |
| Financial charges | 65/66B | €455 | €299 | -€156 | -34.2% |
| Recurring financial charges | 65 | €455 | €299 | -€156 | -34.2% |
| Profit (loss) for the period before taxes | 9903 | €440,017 | €303,117 | -€136,901 | -31.1% |
| Income taxes | 67/77 | €110,352 | €77,339 | -€33,013 | -29.9% |
| Profit (loss) for the period | 9904 | €329,666 | €225,778 | -€103,888 | -31.5% |
| Profit (loss) for the period to be appropriated | 9905 | €329,666 | €225,778 | -€103,888 | -31.5% |
Next steps
Work out how much credit to give this customer and on what payment terms.Credit check Check what to know before you do business with this company.Supplier due diligence Check whether you can accept this company as a client under the anti-money-laundering law.AML client file Compare this company with its sector.Sector benchmark
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.