LV3: 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.
LV3
Largest movements
- Receivables within one year -€13,013
down €13,013 (-99.0%), from €13,145 to €132
of which Trade receivables: -€9,868
- Tangible fixed assets +€9,856
up €9,856 (+2.8%), from €348,435 to €358,291
of which Assets under construction and advance payments: +€9,856
- Cash -€4,467
down €4,467 (-30.2%), from €14,790 to €10,322
mainly Net result for the year (-€10,757) and Investment in fixed assets (net) (-€9,856)
- Profit (loss) carried forward -€10,757
down €10,757 (-7.5%), from -€143,515 to -€154,272
- Gross operating margin +€7,188
up €7,188 (+43.1%), from -€16,682 to -€9,494
- Financial income -€1,333
down €1,333 (-100%), from €1,333 to €0
- Financial charges +€384
up €384 (+80.2%), from €479 to €863
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 | €376,369 | €368,745 | -€7,624 | -2.0% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €348,435 | €358,291 | +€9,856 | +2.8% |
| Tangible fixed assets | 22/27 | €348,435 | €358,291 | +€9,856 | +2.8% |
| Land and buildings | 22 | €281,000 | €281,000 | = | 0.0% |
| Assets under construction and advance payments | 27 | €67,435 | €77,291 | +€9,856 | +14.6% |
| Current assets | 29/58 | €27,935 | €10,455 | -€17,480 | -62.6% |
| Amounts receivable within one year | 40/41 | €13,145 | €132 | -€13,013 | -99.0% |
| Trade receivables | 40 | €10,000 | €132 | -€9,868 | -98.7% |
| Other amounts receivable | 41 | €3,145 | €0 | -€3,145 | -100% |
| Cash at bank and in hand | 54/58 | €14,790 | €10,322 | -€4,467 | -30.2% |
| Total equity and liabilities | 10/49 | €376,369 | €368,745 | -€7,624 | -2.0% |
| Equity | 10/15 | €106,485 | €95,728 | -€10,757 | -10.1% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€143,515 | -€154,272 | -€10,757 | -7.5% |
| Amounts payable | 17/49 | €269,884 | €273,017 | +€3,133 | +1.2% |
| Amounts payable after more than one year | 17 | €10,108 | €12,995 | +€2,888 | +28.6% |
| Other amounts payable | 178/9 | €10,108 | €12,995 | +€2,888 | +28.6% |
| Amounts payable within one year | 42/48 | €259,777 | €260,022 | +€245 | +0.1% |
| Financial debts | 43 | €256,000 | €256,000 | = | 0.0% |
| Credit institutions | 430/8 | €256,000 | €256,000 | = | 0.0% |
| Trade debts | 44 | €3,777 | €3,328 | -€449 | -11.9% |
| Suppliers | 440/4 | €3,777 | €3,328 | -€449 | -11.9% |
| Taxes, remuneration and social security | 45 | - | €694 | +€694 | |
| Taxes | 450/3 | - | €694 | +€694 | |
| Non-recurring operating income | 76A | - | €4,360 | +€4,360 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9 | €0 | -€9 | -100% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | -€16,682 | -€9,494 | +€7,188 | +43.1% |
| Operating profit (loss) | 9901 | -€17,078 | -€9,894 | +€7,184 | +42.1% |
| Financial income | 75/76B | €1,333 | €0 | -€1,333 | -100% |
| Recurring financial income | 75 | €1,333 | €0 | -€1,333 | -100% |
| Financial charges | 65/66B | €479 | €863 | +€384 | +80.2% |
| Recurring financial charges | 65 | €479 | €863 | +€384 | +80.2% |
| Profit (loss) for the period before taxes | 9903 | -€16,224 | -€10,757 | +€5,467 | +33.7% |
| Profit (loss) for the period | 9904 | -€16,224 | -€10,757 | +€5,467 | +33.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€16,224 | -€10,757 | +€5,467 | +33.7% |
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 18 October 2026 via checked.be.