LV: what changed
LV
Largest movements
- Cash -€10,285
down €10,285 (-99.2%), from €10,364 to €79
mainly Trade debts (-€23,694) and Other debts (-€15,333)
- Receivables within one year -€4,240
down €4,240 (-17.1%), from €24,724 to €20,484
of which Trade receivables: -€8,376
- Tangible fixed assets -€2,294
down €2,294 (-3.6%), from €62,895 to €60,601
of which Land and buildings: -€4,607
- Stocks and contracts +€2,044
new in 2025: €2,044
- Deferred charges and accrued income +€1,691
up €1,691 (+1,568%), from €108 to €1,799
- Trade debts -€23,694
down €23,694 (-79.7%), from €29,744 to €6,050
- Other debts -€15,333
no longer reported in 2025 (was €15,333)
- Advances received +€10,722
new in 2025: €10,722
- Tax, wage and social debts +€9,381
up €9,381 (+119%), from €7,889 to €17,270
of which Taxes: +€8,310
- Profit (loss) carried forward +€5,869
up €5,869 (+43.7%), from -€13,436 to -€7,567
- Gross operating margin +€12,462
up €12,462 (+27.3%), from €45,726 to €58,188
- Staff costs +€5,751
up €5,751 (+19.2%), from €30,017 to €35,768
- Depreciation +€3,000
up €3,000 (+56.5%), from €5,311 to €8,310
- Other operating charges -€1,042
down €1,042 (-34.8%), from €2,993 to €1,951
- Financial charges +€979
up €979 (+21.6%), from €4,522 to €5,501
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €98,336 | €85,251 | -€13,085 | -13.3% |
| Fixed assets | 21/28 | €63,139 | €60,845 | -€2,294 | -3.6% |
| Tangible fixed assets | 22/27 | €62,895 | €60,601 | -€2,294 | -3.6% |
| Land and buildings | 22 | €42,623 | €38,016 | -€4,607 | -10.8% |
| Plant, machinery and equipment | 23 | €15,328 | €13,710 | -€1,617 | -10.6% |
| Furniture and vehicles | 24 | €4,945 | €8,874 | +€3,929 | +79.5% |
| Financial fixed assets | 28 | €244 | €244 | = | 0.0% |
| Current assets | 29/58 | €35,197 | €24,406 | -€10,791 | -30.7% |
| Stocks and contracts in progress | 3 | - | €2,044 | +€2,044 | |
| Stocks | 30/36 | - | €2,044 | +€2,044 | |
| Amounts receivable within one year | 40/41 | €24,724 | €20,484 | -€4,240 | -17.1% |
| Trade receivables | 40 | €24,542 | €16,166 | -€8,376 | -34.1% |
| Other amounts receivable | 41 | €183 | €4,318 | +€4,135 | +2,264% |
| Cash at bank and in hand | 54/58 | €10,364 | €79 | -€10,285 | -99.2% |
| Deferred charges and accrued income | 490/1 | €108 | €1,799 | +€1,691 | +1,568% |
| Total equity and liabilities | 10/49 | €98,336 | €85,251 | -€13,085 | -13.3% |
| Equity | 10/15 | -€10,436 | -€4,567 | +€5,869 | +56.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,436 | -€7,567 | +€5,869 | +43.7% |
| Amounts payable | 17/49 | €108,772 | €89,818 | -€18,954 | -17.4% |
| Amounts payable after more than one year | 17 | €50,975 | €48,602 | -€2,373 | -4.7% |
| Financial debts | 170/4 | €50,975 | €48,602 | -€2,373 | -4.7% |
| Amounts payable within one year | 42/48 | €57,797 | €41,215 | -€16,581 | -28.7% |
| Current portion of amounts payable after more than one year | 42 | €4,831 | €6,509 | +€1,678 | +34.7% |
| Financial debts | 43 | - | €664 | +€664 | |
| Credit institutions | 430/8 | - | €664 | +€664 | |
| Trade debts | 44 | €29,744 | €6,050 | -€23,694 | -79.7% |
| Suppliers | 440/4 | €29,744 | €6,050 | -€23,694 | -79.7% |
| Advances received on contracts in progress | 46 | - | €10,722 | +€10,722 | |
| Taxes, remuneration and social security | 45 | €7,889 | €17,270 | +€9,381 | +119% |
| Taxes | 450/3 | €4,260 | €12,570 | +€8,310 | +195% |
| Remuneration and social security | 454/9 | €3,629 | €4,700 | +€1,071 | +29.5% |
| Other amounts payable | 47/48 | €15,333 | - | -€15,333 | |
| Remuneration, social security and pensions | 62 | €30,017 | €35,768 | +€5,751 | +19.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,311 | €8,310 | +€3,000 | +56.5% |
| Other operating charges | 640/8 | €2,993 | €1,951 | -€1,042 | -34.8% |
| Gross operating margin | 9900 | €45,726 | €58,188 | +€12,462 | +27.3% |
| Operating profit (loss) | 9901 | €7,405 | €12,158 | +€4,753 | +64.2% |
| Financial income | 75/76B | €61 | €335 | +€274 | +448% |
| Recurring financial income | 75 | €61 | €335 | +€274 | +448% |
| Financial charges | 65/66B | €4,522 | €5,501 | +€979 | +21.6% |
| Recurring financial charges | 65 | €4,522 | €5,501 | +€979 | +21.6% |
| Profit (loss) for the period before taxes | 9903 | €2,945 | €6,993 | +€4,049 | +137% |
| Income taxes | 67/77 | €159 | €1,124 | +€965 | +605% |
| Profit (loss) for the period | 9904 | €2,785 | €5,869 | +€3,084 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €2,785 | €5,869 | +€3,084 | +111% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.