LVB: 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.
LVB
Largest movements
- Tangible fixed assets +€293,260
up €293,260 (+317.5%), from €92,373 to €385,633
of which Leasing and similar rights: +€303,641
- Cash -€59,461
down €59,461 (-76.9%), from €77,372 to €17,911
mainly Investment in fixed assets (net) (-€377,773) and Trade debts (-€40,779)
- Deferred charges and accrued income -€27,882
down €27,882 (-94.3%), from €29,554 to €1,672
- Debts after one year +€194,266
up €194,266 (+768.6%), from €25,276 to €219,543
- Current portion of long-term debt +€40,863
up €40,863 (+155.7%), from €26,243 to €67,106
- Trade debts -€40,779
down €40,779 (-97.6%), from €41,779 to €1,000
- Other debts +€10,437
up €10,437 (+44.7%), from €23,338 to €33,774
- Reserves +€9,000
up €9,000 (+10.7%), from €84,000 to €93,000
- Depreciation +€61,620
up €61,620 (+269.2%), from €22,894 to €84,513
- Gross operating margin +€16,728
up €16,728 (+18.8%), from €88,812 to €105,540
- Taxes -€9,304
down €9,304 (-98.3%), from €9,468 to €164
- Financial charges +€3,382
up €3,382 (+44.7%), from €7,564 to €10,946
- Other operating charges -€2,552
down €2,552 (-64.8%), from €3,936 to €1,384
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 | €213,127 | €419,564 | +€206,436 | +96.9% |
| Fixed assets | 21/28 | €92,373 | €385,633 | +€293,260 | +317.5% |
| Tangible fixed assets | 22/27 | €92,373 | €385,633 | +€293,260 | +317.5% |
| Land and buildings | 22 | - | €35,289 | +€35,289 | |
| Plant, machinery and equipment | 23 | €3,667 | €15,824 | +€12,158 | +331.6% |
| Furniture and vehicles | 24 | €46,475 | €30,879 | -€15,597 | -33.6% |
| Leasing and similar rights | 25 | - | €303,641 | +€303,641 | |
| Other tangible fixed assets | 26 | €42,231 | - | -€42,231 | |
| Current assets | 29/58 | €120,754 | €33,931 | -€86,823 | -71.9% |
| Amounts receivable within one year | 40/41 | €13,829 | €14,349 | +€520 | +3.8% |
| Trade receivables | 40 | €13,829 | €10,991 | -€2,838 | -20.5% |
| Other amounts receivable | 41 | - | €3,358 | +€3,358 | |
| Cash at bank and in hand | 54/58 | €77,372 | €17,911 | -€59,461 | -76.9% |
| Deferred charges and accrued income | 490/1 | €29,554 | €1,672 | -€27,882 | -94.3% |
| Total equity and liabilities | 10/49 | €213,127 | €419,564 | +€206,436 | +96.9% |
| Equity | 10/15 | €88,971 | €97,505 | +€8,534 | +9.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €84,000 | €93,000 | +€9,000 | +10.7% |
| Distributable reserves | 133 | €84,000 | €93,000 | +€9,000 | +10.7% |
| Profit (loss) carried forward | 14 | €2,971 | €2,505 | -€466 | -15.7% |
| Amounts payable | 17/49 | €124,156 | €322,058 | +€197,902 | +159.4% |
| Amounts payable after more than one year | 17 | €25,276 | €219,543 | +€194,266 | +768.6% |
| Financial debts | 170/4 | €25,276 | €219,543 | +€194,266 | +768.6% |
| Amounts payable within one year | 42/48 | €98,880 | €102,516 | +€3,636 | +3.7% |
| Current portion of amounts payable after more than one year | 42 | €26,243 | €67,106 | +€40,863 | +155.7% |
| Trade debts | 44 | €41,779 | €1,000 | -€40,779 | -97.6% |
| Suppliers | 440/4 | €41,779 | €1,000 | -€40,779 | -97.6% |
| Taxes, remuneration and social security | 45 | €7,521 | €636 | -€6,885 | -91.5% |
| Taxes | 450/3 | €7,521 | €636 | -€6,885 | -91.5% |
| Other amounts payable | 47/48 | €23,338 | €33,774 | +€10,437 | +44.7% |
| Non-recurring operating income | 76A | €4,250 | - | -€4,250 | |
| Remuneration, social security and pensions | 62 | €1,515 | - | -€1,515 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,894 | €84,513 | +€61,620 | +269.2% |
| Other operating charges | 640/8 | €3,936 | €1,384 | -€2,552 | -64.8% |
| Non-recurring operating charges | 66A | €8,750 | - | -€8,750 | |
| Gross operating margin | 9900 | €88,812 | €105,540 | +€16,728 | +18.8% |
| Operating profit (loss) | 9901 | €51,717 | €19,642 | -€32,075 | -62.0% |
| Financial income | 75/76B | - | €3 | +€3 | |
| Recurring financial income | 75 | - | €3 | +€3 | |
| Financial charges | 65/66B | €7,564 | €10,946 | +€3,382 | +44.7% |
| Recurring financial charges | 65 | €7,564 | €10,946 | +€3,382 | +44.7% |
| Profit (loss) for the period before taxes | 9903 | €44,152 | €8,699 | -€35,454 | -80.3% |
| Income taxes | 67/77 | €9,468 | €164 | -€9,304 | -98.3% |
| Profit (loss) for the period | 9904 | €34,684 | €8,534 | -€26,150 | -75.4% |
| Profit (loss) for the period to be appropriated | 9905 | €34,684 | €8,534 | -€26,150 | -75.4% |
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 8 October 2026 via checked.be.