LVA Projects: 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 Projects
Largest movements
- Tangible fixed assets +€46,046
up €46,046 (+10.2%), from €452,601 to €498,646
of which Furniture and vehicles: +€59,602
- Deferred charges and accrued income -€7,928
down €7,928 (-75.5%), from €10,501 to €2,573
- Reserves +€28,084
up €28,084 (+19.9%), from €141,346 to €169,430
of which Distributable reserves: +€28,084
- Current portion of long-term debt +€12,867
up €12,867 (+49.4%), from €26,040 to €38,907
- Debts after one year +€12,028
up €12,028 (+4.2%), from €283,837 to €295,865
- Other debts -€10,438
down €10,438 (-70.3%), from €14,841 to €4,403
- Gross operating margin +€20,098
up €20,098 (+30.6%), from €65,718 to €85,816
- Depreciation +€12,628
up €12,628 (+62.2%), from €20,313 to €32,940
- Financial income +€4,509
up €4,509 (+6020.9%), from €75 to €4,584
- Taxes +€3,524
up €3,524 (+31.5%), from €11,175 to €14,698
- Other operating charges -€1,450
down €1,450 (-45.7%), from €3,170 to €1,720
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €515,384 | €554,466 | +€39,081 | +7.6% |
| Fixed assets | 21/28 | €454,660 | €500,705 | +€46,046 | +10.1% |
| Tangible fixed assets | 22/27 | €452,601 | €498,646 | +€46,046 | +10.2% |
| Land and buildings | 22 | €312,113 | €304,001 | -€8,112 | -2.6% |
| Furniture and vehicles | 24 | €46,809 | €106,411 | +€59,602 | +127.3% |
| Other tangible fixed assets | 26 | €93,678 | €88,234 | -€5,444 | -5.8% |
| Financial fixed assets | 28 | €2,059 | €2,059 | = | 0.0% |
| Current assets | 29/58 | €60,724 | €53,760 | -€6,964 | -11.5% |
| Amounts receivable within one year | 40/41 | €46,844 | €48,120 | +€1,277 | +2.7% |
| Trade receivables | 40 | €44,216 | €41,054 | -€3,162 | -7.2% |
| Other amounts receivable | 41 | €2,627 | €7,066 | +€4,439 | +169.0% |
| Current investments | 50/53 | €1,880 | €0 | -€1,880 | -100.0% |
| Cash at bank and in hand | 54/58 | €1,500 | €3,067 | +€1,567 | +104.5% |
| Deferred charges and accrued income | 490/1 | €10,501 | €2,573 | -€7,928 | -75.5% |
| Total equity and liabilities | 10/49 | €515,384 | €554,466 | +€39,081 | +7.6% |
| Equity | 10/15 | €159,946 | €188,030 | +€28,084 | +17.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €141,346 | €169,430 | +€28,084 | +19.9% |
| 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 | €139,486 | €167,570 | +€28,084 | +20.1% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €355,439 | €366,436 | +€10,997 | +3.1% |
| Amounts payable after more than one year | 17 | €283,837 | €295,865 | +€12,028 | +4.2% |
| Financial debts | 170/4 | €283,837 | €295,865 | +€12,028 | +4.2% |
| Amounts payable within one year | 42/48 | €71,602 | €70,571 | -€1,031 | -1.4% |
| Current portion of amounts payable after more than one year | 42 | €26,040 | €38,907 | +€12,867 | +49.4% |
| Trade debts | 44 | €12,459 | €7,814 | -€4,646 | -37.3% |
| Suppliers | 440/4 | €12,459 | €7,814 | -€4,646 | -37.3% |
| Taxes, remuneration and social security | 45 | €18,262 | €19,448 | +€1,186 | +6.5% |
| Taxes | 450/3 | €18,262 | €19,448 | +€1,186 | +6.5% |
| Other amounts payable | 47/48 | €14,841 | €4,403 | -€10,438 | -70.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Non-recurring operating income | 76A | - | €5,083 | +€5,083 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,313 | €32,940 | +€12,628 | +62.2% |
| Other operating charges | 640/8 | €3,170 | €1,720 | -€1,450 | -45.7% |
| Non-recurring operating charges | 66A | - | €765 | +€765 | |
| Gross operating margin | 9900 | €65,718 | €85,816 | +€20,098 | +30.6% |
| Operating profit (loss) | 9901 | €42,235 | €50,390 | +€8,155 | +19.3% |
| Financial income | 75/76B | €75 | €4,584 | +€4,509 | +6020.9% |
| Recurring financial income | 75 | €75 | €4,584 | +€4,509 | +6020.9% |
| Financial charges | 65/66B | €7,376 | €7,789 | +€412 | +5.6% |
| Recurring financial charges | 65 | €7,376 | €7,789 | +€412 | +5.6% |
| Profit (loss) for the period before taxes | 9903 | €34,934 | €47,186 | +€12,252 | +35.1% |
| Income taxes | 67/77 | €11,175 | €14,698 | +€3,524 | +31.5% |
| Profit (loss) for the period | 9904 | €23,759 | €32,487 | +€8,728 | +36.7% |
| Profit (loss) for the period to be appropriated | 9905 | €23,759 | €32,487 | +€8,728 | +36.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.