LV Development: what changed
Two fiscal 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 Development
Largest movements
- Receivables within one year +€337,298
up €337,298 (+18635.2%), from €1,810 to €339,108
of which Trade receivables: +€335,108
- Stocks and contracts -€196,339
down €196,339 (-35.3%), from €556,823 to €360,484
- Short-term financial debts +€227,500
up €227,500 (+113.8%), from €200,000 to €427,500
of which Credit institutions: +€202,500
- Other debts -€87,241
down €87,241 (-26.6%), from €327,656 to €240,415
- Trade debts +€17,238
up €17,238 (+382.6%), from €4,506 to €21,744
- Accrued charges and deferred income -€13,877
down €13,877 (-89.7%), from €15,468 to €1,590
- Profit (loss) carried forward -€9,217
down €9,217, from €712 to -€8,505
- Gross operating margin -€16,328
down €16,328 (-62.2%), from €26,242 to €9,913
- Financial charges -€6,049
down €6,049 (-31.0%), from €19,485 to €13,436
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 | €568,746 | €702,744 | +€133,998 | +23.6% |
| Fixed assets | 21/28 | €6,227 | €1,264 | -€4,963 | -79.7% |
| Tangible fixed assets | 22/27 | €6,227 | €1,264 | -€4,963 | -79.7% |
| Furniture and vehicles | 24 | €6,227 | €1,264 | -€4,963 | -79.7% |
| Current assets | 29/58 | €562,519 | €701,480 | +€138,961 | +24.7% |
| Stocks and contracts in progress | 3 | €556,823 | €360,484 | -€196,339 | -35.3% |
| Stocks | 30/36 | €556,823 | €360,484 | -€196,339 | -35.3% |
| Amounts receivable within one year | 40/41 | €1,810 | €339,108 | +€337,298 | +18635.2% |
| Trade receivables | 40 | - | €335,108 | +€335,108 | |
| Other amounts receivable | 41 | €1,810 | €4,000 | +€2,190 | +121.0% |
| Cash at bank and in hand | 54/58 | €3,886 | €457 | -€3,429 | -88.2% |
| Deferred charges and accrued income | 490/1 | - | €1,431 | +€1,431 | |
| Total equity and liabilities | 10/49 | €568,746 | €702,744 | +€133,998 | +23.6% |
| Equity | 10/15 | €20,712 | €11,495 | -€9,217 | -44.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €712 | -€8,505 | -€9,217 | |
| Amounts payable | 17/49 | €548,034 | €691,249 | +€143,216 | +26.1% |
| Amounts payable within one year | 42/48 | €532,566 | €689,659 | +€157,093 | +29.5% |
| Financial debts | 43 | €200,000 | €427,500 | +€227,500 | +113.8% |
| Credit institutions | 430/8 | - | €202,500 | +€202,500 | |
| Other loans | 439 | €200,000 | €225,000 | +€25,000 | +12.5% |
| Trade debts | 44 | €4,506 | €21,744 | +€17,238 | +382.6% |
| Suppliers | 440/4 | €4,506 | €21,744 | +€17,238 | +382.6% |
| Taxes, remuneration and social security | 45 | €404 | - | -€404 | |
| Taxes | 450/3 | €404 | - | -€404 | |
| Other amounts payable | 47/48 | €327,656 | €240,415 | -€87,241 | -26.6% |
| Accrued charges and deferred income | 492/3 | €15,468 | €1,590 | -€13,877 | -89.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,092 | €4,963 | -€130 | -2.5% |
| Other operating charges | 640/8 | €787 | €733 | -€54 | -6.9% |
| Gross operating margin | 9900 | €26,242 | €9,913 | -€16,328 | -62.2% |
| Operating profit (loss) | 9901 | €20,362 | €4,218 | -€16,145 | -79.3% |
| Financial charges | 65/66B | €19,485 | €13,436 | -€6,049 | -31.0% |
| Recurring financial charges | 65 | €19,485 | €13,436 | -€6,049 | -31.0% |
| Profit (loss) for the period before taxes | 9903 | €877 | -€9,218 | -€10,095 | |
| Income taxes | 67/77 | €187 | -€1 | -€188 | |
| Profit (loss) for the period | 9904 | €690 | -€9,217 | -€9,907 | |
| Profit (loss) for the period to be appropriated | 9905 | €690 | -€9,217 | -€9,907 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 September 2026 via checked.be.