LV CONSEIL MANAGEMENT: 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.
LV CONSEIL MANAGEMENT
Largest movements
- Tangible fixed assets +€460,413
up €460,413 (+375%), from €122,744 to €583,156
of which Land and buildings: +€483,890
- Cash -€37,333
down €37,333 (-21.8%), from €170,881 to €133,548
mainly Investment in fixed assets (net) (-€492,763) and Other debts (-€4,204)
- Debts after one year +€360,248
up €360,248 (+432%), from €83,308 to €443,557
- Current portion of long-term debt +€40,912
up €40,912 (+203%), from €20,112 to €61,024
- Reserves +€20,000
up €20,000 (+12.4%), from €161,000 to €181,000
- Trade debts +€8,715
up €8,715 (+10,968%), from €79 to €8,795
- Depreciation +€8,486
up €8,486 (+35.6%), from €23,864 to €32,350
- Financial charges +€6,413
up €6,413 (+165%), from €3,887 to €10,300
- Taxes -€3,717
down €3,717 (-29.8%), from €12,475 to €8,758
- Gross operating margin +€2,770
up €2,770 (+3.8%), from €73,268 to €76,038
- Other operating charges +€2,376
up €2,376 (+157%), from €1,510 to €3,886
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 | €310,180 | €736,199 | +€426,018 | +137% |
| Fixed assets | 21/28 | €124,644 | €585,056 | +€460,413 | +369% |
| Tangible fixed assets | 22/27 | €122,744 | €583,156 | +€460,413 | +375% |
| Land and buildings | 22 | €87,443 | €571,333 | +€483,890 | +553% |
| Plant, machinery and equipment | 23 | €383 | - | -€383 | |
| Furniture and vehicles | 24 | €32,994 | €10,541 | -€22,453 | -68.1% |
| Other tangible fixed assets | 26 | €1,925 | €1,283 | -€642 | -33.3% |
| Financial fixed assets | 28 | €1,900 | €1,900 | = | 0.0% |
| Current assets | 29/58 | €185,537 | €151,142 | -€34,394 | -18.5% |
| Amounts receivable within one year | 40/41 | €14,656 | €17,594 | +€2,939 | +20.1% |
| Trade receivables | 40 | €14,656 | €17,001 | +€2,345 | +16.0% |
| Other amounts receivable | 41 | - | €594 | +€594 | |
| Cash at bank and in hand | 54/58 | €170,881 | €133,548 | -€37,333 | -21.8% |
| Total equity and liabilities | 10/49 | €310,180 | €736,199 | +€426,018 | +137% |
| Equity | 10/15 | €174,438 | €195,094 | +€20,656 | +11.8% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €161,000 | €181,000 | +€20,000 | +12.4% |
| Non-distributable reserves | 130/1 | €161,000 | €181,000 | +€20,000 | +12.4% |
| Reserves not available under the articles | 1311 | €161,000 | €181,000 | +€20,000 | +12.4% |
| Profit (loss) carried forward | 14 | €5,378 | €6,034 | +€656 | +12.2% |
| Amounts payable | 17/49 | €135,742 | €541,105 | +€405,363 | +299% |
| Amounts payable after more than one year | 17 | €83,308 | €443,557 | +€360,248 | +432% |
| Financial debts | 170/4 | €83,308 | €443,557 | +€360,248 | +432% |
| Amounts payable within one year | 42/48 | €52,434 | €97,078 | +€44,644 | +85.1% |
| Current portion of amounts payable after more than one year | 42 | €20,112 | €61,024 | +€40,912 | +203% |
| Trade debts | 44 | €79 | €8,795 | +€8,715 | +10,968% |
| Suppliers | 440/4 | €79 | €8,795 | +€8,715 | +10,968% |
| Advances received on contracts in progress | 46 | €2,500 | €3,750 | +€1,250 | +50.0% |
| Taxes, remuneration and social security | 45 | €19,179 | €17,150 | -€2,029 | -10.6% |
| Taxes | 450/3 | €19,179 | €17,150 | -€2,029 | -10.6% |
| Other amounts payable | 47/48 | €10,563 | €6,359 | -€4,204 | -39.8% |
| Accrued charges and deferred income | 492/3 | - | €470 | +€470 | |
| Non-recurring operating income | 76A | €1,329 | - | -€1,329 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,864 | €32,350 | +€8,486 | +35.6% |
| Other operating charges | 640/8 | €1,510 | €3,886 | +€2,376 | +157% |
| Non-recurring operating charges | 66A | €105 | €127 | +€21 | +20.4% |
| Gross operating margin | 9900 | €73,268 | €76,038 | +€2,770 | +3.8% |
| Operating profit (loss) | 9901 | €47,789 | €39,677 | -€8,113 | -17.0% |
| Financial income | 75/76B | €1,010 | €37 | -€973 | -96.4% |
| Recurring financial income | 75 | €1,010 | €37 | -€973 | -96.4% |
| Financial charges | 65/66B | €3,887 | €10,300 | +€6,413 | +165% |
| Recurring financial charges | 65 | €3,887 | €10,300 | +€6,413 | +165% |
| Profit (loss) for the period before taxes | 9903 | €44,912 | €29,413 | -€15,498 | -34.5% |
| Income taxes | 67/77 | €12,475 | €8,758 | -€3,717 | -29.8% |
| Profit (loss) for the period | 9904 | €32,437 | €20,656 | -€11,781 | -36.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,437 | €20,656 | -€11,781 | -36.3% |
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 28 October 2026 via checked.be.