LVA: 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.
LVA
Largest movements
- Receivables after one year -€12,000
no longer reported in 2025 (was €12,000)
- Tangible fixed assets -€4,044
down €4,044 (-11.7%), from €34,558 to €30,514
of which Plant, machinery and equipment: -€2,279
- Cash +€2,790
up €2,790 (+15.3%), from €18,175 to €20,965
mainly Other debts (+€30,000) and Depreciation (+€12,294)
- Receivables within one year +€2,711
up €2,711 (+39.3%), from €6,898 to €9,609
of which Trade receivables: +€7,213
- Deferred charges and accrued income -€1,564
down €1,564 (-70.4%), from €2,223 to €659
- Reserves -€47,827
down €47,827 (-72.0%), from €66,397 to €18,569
- Other debts +€30,000
new in 2025: €30,000
- Accrued charges and deferred income +€5,491
up €5,491 (+1022.6%), from €537 to €6,028
- Tax, wage and social debts +€2,150
new in 2025: €2,150
- Trade debts -€1,920
no longer reported in 2025 (was €1,920)
- Gross operating margin -€16,253
down €16,253 (-50.5%), from €32,176 to €15,922
- Taxes -€3,144
down €3,144 (-78.6%), from €3,997 to €854
- Depreciation +€2,264
up €2,264 (+22.6%), from €10,030 to €12,294
- Write-downs -€1,975
no longer reported in 2025 (was €1,975)
- Other operating charges -€342
down €342 (-28.9%), from €1,180 to €838
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 | €73,854 | €61,747 | -€12,107 | -16.4% |
| Fixed assets | 21/28 | €34,558 | €30,514 | -€4,044 | -11.7% |
| Tangible fixed assets | 22/27 | €34,558 | €30,514 | -€4,044 | -11.7% |
| Plant, machinery and equipment | 23 | €27,722 | €25,443 | -€2,279 | -8.2% |
| Furniture and vehicles | 24 | €6,836 | €5,071 | -€1,765 | -25.8% |
| Current assets | 29/58 | €39,295 | €31,233 | -€8,062 | -20.5% |
| Amounts receivable after more than one year | 29 | €12,000 | - | -€12,000 | |
| Other amounts receivable | 291 | €12,000 | - | -€12,000 | |
| Amounts receivable within one year | 40/41 | €6,898 | €9,609 | +€2,711 | +39.3% |
| Trade receivables | 40 | €1,897 | €9,110 | +€7,213 | +380.2% |
| Other amounts receivable | 41 | €5,001 | €499 | -€4,502 | -90.0% |
| Cash at bank and in hand | 54/58 | €18,175 | €20,965 | +€2,790 | +15.3% |
| Deferred charges and accrued income | 490/1 | €2,223 | €659 | -€1,564 | -70.4% |
| Total equity and liabilities | 10/49 | €73,854 | €61,747 | -€12,107 | -16.4% |
| Equity | 10/15 | €71,397 | €23,569 | -€47,827 | -67.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €66,397 | €18,569 | -€47,827 | -72.0% |
| Distributable reserves | 133 | €66,397 | €18,569 | -€47,827 | -72.0% |
| Amounts payable | 17/49 | €2,457 | €38,178 | +€35,721 | +1454.0% |
| Amounts payable within one year | 42/48 | €1,920 | €32,150 | +€30,230 | +1574.6% |
| Trade debts | 44 | €1,920 | - | -€1,920 | |
| Suppliers | 440/4 | €1,920 | - | -€1,920 | |
| Taxes, remuneration and social security | 45 | - | €2,150 | +€2,150 | |
| Taxes | 450/3 | - | €2,150 | +€2,150 | |
| Other amounts payable | 47/48 | - | €30,000 | +€30,000 | |
| Accrued charges and deferred income | 492/3 | €537 | €6,028 | +€5,491 | +1022.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,030 | €12,294 | +€2,264 | +22.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,975 | - | -€1,975 | |
| Other operating charges | 640/8 | €1,180 | €838 | -€342 | -28.9% |
| Gross operating margin | 9900 | €32,176 | €15,922 | -€16,253 | -50.5% |
| Operating profit (loss) | 9901 | €18,991 | €2,790 | -€16,201 | -85.3% |
| Financial income | 75/76B | €557 | €437 | -€120 | -21.6% |
| Recurring financial income | 75 | €557 | €437 | -€120 | -21.6% |
| Financial charges | 65/66B | €138 | €200 | +€62 | +45.0% |
| Recurring financial charges | 65 | €138 | €200 | +€62 | +45.0% |
| Profit (loss) for the period before taxes | 9903 | €19,410 | €3,026 | -€16,383 | -84.4% |
| Income taxes | 67/77 | €3,997 | €854 | -€3,144 | -78.6% |
| Profit (loss) for the period | 9904 | €15,412 | €2,173 | -€13,240 | -85.9% |
| Profit (loss) for the period to be appropriated | 9905 | €15,412 | €2,173 | -€13,240 | -85.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.