LV CONSULT: 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 CONSULT
Largest movements
- Intangible fixed assets +€204,726
up €204,726 (+127%), from €160,683 to €365,409
- Current investments -€109,564
down €109,564 (-30.9%), from €354,799 to €245,236
- Cash -€40,206
down €40,206 (-42.4%), from €94,787 to €54,582
mainly Investment in fixed assets (net) (-€257,190) and Contributions, distributions and other (-€70,787)
- Deferred charges and accrued income -€15,775
down €15,775 (-36.8%), from €42,919 to €27,144
- Tangible fixed assets -€9,854
down €9,854 (-24.6%), from €39,987 to €30,133
of which Furniture and vehicles: -€8,825
- Other debts +€72,323
up €72,323, from €0 to €72,323
- Reserves -€29,982
down €29,982 (-4.5%), from €662,056 to €632,075
of which Distributable reserves: -€29,982
- Gross operating margin -€36,627
down €36,627 (-22.7%), from €161,327 to €124,700
- Depreciation +€15,004
up €15,004 (+31.7%), from €47,314 to €62,318
- Taxes -€12,791
down €12,791 (-41.5%), from €30,799 to €18,008
- Financial income +€2,864
up €2,864 (+50.8%), from €5,634 to €8,498
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 | €694,363 | €732,498 | +€38,135 | +5.5% |
| Fixed assets | 21/28 | €200,670 | €395,542 | +€194,872 | +97.1% |
| Intangible fixed assets | 21 | €160,683 | €365,409 | +€204,726 | +127% |
| Tangible fixed assets | 22/27 | €39,987 | €30,133 | -€9,854 | -24.6% |
| Plant, machinery and equipment | 23 | €2,183 | €1,949 | -€234 | -10.7% |
| Furniture and vehicles | 24 | €31,525 | €22,701 | -€8,825 | -28.0% |
| Other tangible fixed assets | 26 | €6,279 | €5,484 | -€795 | -12.7% |
| Current assets | 29/58 | €493,693 | €336,956 | -€156,737 | -31.7% |
| Amounts receivable within one year | 40/41 | €1,187 | €9,994 | +€8,807 | +742% |
| Other amounts receivable | 41 | €1,187 | €9,994 | +€8,807 | +742% |
| Current investments | 50/53 | €354,799 | €245,236 | -€109,564 | -30.9% |
| Cash at bank and in hand | 54/58 | €94,787 | €54,582 | -€40,206 | -42.4% |
| Deferred charges and accrued income | 490/1 | €42,919 | €27,144 | -€15,775 | -36.8% |
| Total equity and liabilities | 10/49 | €694,363 | €732,498 | +€38,135 | +5.5% |
| Equity | 10/15 | €680,656 | €650,675 | -€29,982 | -4.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €662,056 | €632,075 | -€29,982 | -4.5% |
| Tax-exempt reserves | 132 | €18,945 | €18,945 | = | 0.0% |
| Distributable reserves | 133 | €643,111 | €613,130 | -€29,982 | -4.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €13,707 | €81,823 | +€68,116 | +497% |
| Amounts payable within one year | 42/48 | €10,004 | €78,737 | +€68,734 | +687% |
| Trade debts | 44 | €3,238 | €2,334 | -€904 | -27.9% |
| Suppliers | 440/4 | €3,238 | €2,334 | -€904 | -27.9% |
| Taxes, remuneration and social security | 45 | €6,766 | €4,081 | -€2,685 | -39.7% |
| Taxes | 450/3 | €6,766 | €4,081 | -€2,685 | -39.7% |
| Other amounts payable | 47/48 | €0 | €72,323 | +€72,323 | |
| Accrued charges and deferred income | 492/3 | €3,703 | €3,086 | -€617 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €47,314 | €62,318 | +€15,004 | +31.7% |
| Other operating charges | 640/8 | €2,070 | €2,935 | +€865 | +41.8% |
| Non-recurring operating charges | 66A | - | €7,362 | +€7,362 | |
| Gross operating margin | 9900 | €161,327 | €124,700 | -€36,627 | -22.7% |
| Operating profit (loss) | 9901 | €111,942 | €52,084 | -€59,858 | -53.5% |
| Financial income | 75/76B | €5,634 | €8,498 | +€2,864 | +50.8% |
| Recurring financial income | 75 | €5,634 | €8,498 | +€2,864 | +50.8% |
| Financial charges | 65/66B | €173 | €1,769 | +€1,596 | +922% |
| Recurring financial charges | 65 | €173 | €1,769 | +€1,596 | +922% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €117,403 | €58,814 | -€58,589 | -49.9% |
| Income taxes | 67/77 | €30,799 | €18,008 | -€12,791 | -41.5% |
| Profit (loss) for the period | 9904 | €86,604 | €40,806 | -€45,798 | -52.9% |
| Transfer from tax-exempt reserves | 789 | €0 | - | = | |
| Transfer to tax-exempt reserves | 689 | €18,945 | €0 | -€18,945 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €67,659 | €40,806 | -€26,853 | -39.7% |
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 17 October 2026 via checked.be.