LVA Concept: 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 Concept
Largest movements
- Tangible fixed assets +€38,579
up €38,579 (+279.9%), from €13,781 to €52,360
of which Furniture and vehicles: +€40,634
- Cash -€12,194
down €12,194 (-59.0%), from €20,668 to €8,475
mainly Investment in fixed assets (net) (-€54,983) and Stocks and contracts (-€7,979)
- Stocks and contracts +€7,979
new in 2025: €7,979
- Deferred charges and accrued income +€1,647
new in 2025: €1,647
- Debts after one year +€27,301
new in 2025: €27,301
- Current portion of long-term debt +€8,444
up €8,444 (+211.1%), from €4,000 to €12,444
- Trade debts -€1,973
down €1,973 (-84.6%), from €2,333 to €360
- Reserves +€1,437
up €1,437 (+2.5%), from €58,234 to €59,671
- Depreciation +€12,756
up €12,756 (+349.7%), from €3,648 to €16,404
- Taxes -€3,137
down €3,137 (-66.8%), from €4,699 to €1,562
- Gross operating margin +€3,024
up €3,024 (+16.2%), from €18,615 to €21,639
- Financial charges +€903
up €903 (+114.4%), from €790 to €1,693
- Other operating charges +€465
up €465 (+220.4%), from €211 to €675
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 | €74,478 | €109,826 | +€35,348 | +47.5% |
| Fixed assets | 21/28 | €13,781 | €52,360 | +€38,579 | +279.9% |
| Tangible fixed assets | 22/27 | €13,781 | €52,360 | +€38,579 | +279.9% |
| Land and buildings | 22 | €3,958 | €3,682 | -€276 | -7.0% |
| Plant, machinery and equipment | 23 | €9,823 | €8,044 | -€1,779 | -18.1% |
| Furniture and vehicles | 24 | - | €40,634 | +€40,634 | |
| Current assets | 29/58 | €60,696 | €57,466 | -€3,230 | -5.3% |
| Stocks and contracts in progress | 3 | - | €7,979 | +€7,979 | |
| Stocks | 30/36 | - | €7,979 | +€7,979 | |
| Amounts receivable within one year | 40/41 | €40,028 | €39,365 | -€663 | -1.7% |
| Trade receivables | 40 | €40,028 | €39,365 | -€663 | -1.7% |
| Cash at bank and in hand | 54/58 | €20,668 | €8,475 | -€12,194 | -59.0% |
| Deferred charges and accrued income | 490/1 | - | €1,647 | +€1,647 | |
| Total equity and liabilities | 10/49 | €74,478 | €109,826 | +€35,348 | +47.5% |
| Equity | 10/15 | €60,234 | €61,671 | +€1,437 | +2.4% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €58,234 | €59,671 | +€1,437 | +2.5% |
| Distributable reserves | 133 | €58,234 | €59,671 | +€1,437 | +2.5% |
| Amounts payable | 17/49 | €14,244 | €48,155 | +€33,911 | +238.1% |
| Amounts payable after more than one year | 17 | - | €27,301 | +€27,301 | |
| Financial debts | 170/4 | - | €27,301 | +€27,301 | |
| Amounts payable within one year | 42/48 | €14,244 | €20,854 | +€6,611 | +46.4% |
| Current portion of amounts payable after more than one year | 42 | €4,000 | €12,444 | +€8,444 | +211.1% |
| Trade debts | 44 | €2,333 | €360 | -€1,973 | -84.6% |
| Suppliers | 440/4 | €2,333 | €360 | -€1,973 | -84.6% |
| Taxes, remuneration and social security | 45 | €6,797 | €6,635 | -€162 | -2.4% |
| Taxes | 450/3 | €6,797 | €6,635 | -€162 | -2.4% |
| Other amounts payable | 47/48 | €1,113 | €1,415 | +€302 | +27.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,648 | €16,404 | +€12,756 | +349.7% |
| Other operating charges | 640/8 | €211 | €675 | +€465 | +220.4% |
| Gross operating margin | 9900 | €18,615 | €21,639 | +€3,024 | +16.2% |
| Operating profit (loss) | 9901 | €14,756 | €4,560 | -€10,196 | -69.1% |
| Financial income | 75/76B | €91 | €132 | +€41 | +44.7% |
| Recurring financial income | 75 | €91 | €132 | +€41 | +44.7% |
| Financial charges | 65/66B | €790 | €1,693 | +€903 | +114.4% |
| Recurring financial charges | 65 | €790 | €1,693 | +€903 | +114.4% |
| Profit (loss) for the period before taxes | 9903 | €14,058 | €2,999 | -€11,059 | -78.7% |
| Income taxes | 67/77 | €4,699 | €1,562 | -€3,137 | -66.8% |
| Profit (loss) for the period | 9904 | €9,359 | €1,437 | -€7,922 | -84.6% |
| Profit (loss) for the period to be appropriated | 9905 | €9,359 | €1,437 | -€7,922 | -84.6% |
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 2 October 2026 via checked.be.