LV-LAW: 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-LAW
Largest movements
- Receivables within one year -€21,853
down €21,853 (-19.9%), from €109,583 to €87,730
of which Trade receivables: -€19,113
- Cash +€19,640
up €19,640 (+14.9%), from €131,584 to €151,224
mainly Net result for the year (+€164,422) and Receivables within one year (+€21,853)
- Other debts -€5,294
down €5,294 (-2.9%), from €184,868 to €179,574
- Tax, wage and social debts +€3,239
up €3,239 (+12.8%), from €25,308 to €28,547
- Gross operating margin +€10,593
up €10,593 (+5.0%), from €213,943 to €224,536
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 | €241,167 | €238,955 | -€2,212 | -0.9% |
| Current assets | 29/58 | €241,167 | €238,955 | -€2,212 | -0.9% |
| Amounts receivable within one year | 40/41 | €109,583 | €87,730 | -€21,853 | -19.9% |
| Trade receivables | 40 | €106,843 | €87,730 | -€19,113 | -17.9% |
| Other amounts receivable | 41 | €2,740 | - | -€2,740 | |
| Cash at bank and in hand | 54/58 | €131,584 | €151,224 | +€19,640 | +14.9% |
| Total equity and liabilities | 10/49 | €241,167 | €238,955 | -€2,212 | -0.9% |
| Equity | 10/15 | €28,899 | €28,899 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €10,299 | €10,299 | = | 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% |
| Distributable reserves | 133 | €8,439 | €8,439 | = | 0.0% |
| Amounts payable | 17/49 | €212,269 | €210,056 | -€2,212 | -1.0% |
| Amounts payable within one year | 42/48 | €212,269 | €210,056 | -€2,212 | -1.0% |
| Trade debts | 44 | €2,092 | €1,935 | -€158 | -7.5% |
| Suppliers | 440/4 | €2,092 | €1,935 | -€158 | -7.5% |
| Taxes, remuneration and social security | 45 | €25,308 | €28,547 | +€3,239 | +12.8% |
| Taxes | 450/3 | €25,308 | €28,547 | +€3,239 | +12.8% |
| Other amounts payable | 47/48 | €184,868 | €179,574 | -€5,294 | -2.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €252 | - | -€252 | |
| Other operating charges | 640/8 | €906 | €973 | +€68 | +7.5% |
| Gross operating margin | 9900 | €213,943 | €224,536 | +€10,593 | +5.0% |
| Operating profit (loss) | 9901 | €212,785 | €223,563 | +€10,777 | +5.1% |
| Financial income | 75/76B | - | €40 | +€40 | |
| Recurring financial income | 75 | - | €40 | +€40 | |
| Financial charges | 65/66B | €1,883 | €1,751 | -€131 | -7.0% |
| Recurring financial charges | 65 | €1,883 | €1,751 | -€131 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €210,902 | €221,851 | +€10,949 | +5.2% |
| Income taxes | 67/77 | €55,260 | €57,429 | +€2,169 | +3.9% |
| Profit (loss) for the period | 9904 | €155,642 | €164,422 | +€8,780 | +5.6% |
| Profit (loss) for the period to be appropriated | 9905 | €155,642 | €164,422 | +€8,780 | +5.6% |
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.