LVb Concepts: 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.
What changed
LVb Concepts
NACE 68.121, Development of residential building projects
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€23,519
2024 · €28,152-€4,633
Equity
€343,793
2024 · €320,274+€23,519
Cash
€13,945
2024 · €7,343+€6,602
Balance sheet total
€1.4m
2024 · €1.4m-€35,430
Largest movements
Assets
- Tangible fixed assets -€47,426
down €47,426 (-3.9%), from €1.2m to €1.2m
of which Land and buildings: -€40,047
Equity and liabilities
- Debts after one year -€44,114
down €44,114 (-19.4%), from €227,521 to €183,406
- Reserves +€20,000
up €20,000 (+6.8%), from €293,571 to €313,571
of which Distributable reserves: +€20,000
Income statement
- Depreciation +€20,827
up €20,827 (+78.3%), from €26,599 to €47,426
- Gross operating margin +€17,370
up €17,370 (+21.4%), from €81,313 to €98,683
- Financial income -€1,816
down €1,816 (-99.9%), from €1,817 to €1
- Other operating charges -€1,705
down €1,705 (-14.4%), from €11,866 to €10,161
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.
Result 2024
€28,152
Gross operating margin
+€17,370
Depreciation
-€20,827
Other operating charges
+€1,705
Financial income
-€1,816
Financial charges
-€714
Taxes
-€352
Result 2025
€23,519
raises the resultlowers the result
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.
From operations
+€48,340
Investment
€0
Financing
-€41,739
Cash 2024
€7,343
From operations (derived)
+€48,340
Net result for the year
+€23,519
Depreciation
+€47,426
Receivables within one year
-€5,386
Deferred charges and accrued income
-€8
Trade debts
-€4,981
Tax, wage and social debts
+€818
Other debts
-€12,880
Accrued charges and deferred income
-€168
Financing
-€41,739
Debts after one year
-€44,114
Current portion of long-term debt
+€2,376
Cash 2025
€13,945
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,414,816 | €1,379,385 | -€35,430 | -2.5% |
| Fixed assets | 21/28 | €1,229,651 | €1,182,225 | -€47,426 | -3.9% |
| Tangible fixed assets | 22/27 | €1,229,651 | €1,182,225 | -€47,426 | -3.9% |
| Land and buildings | 22 | €1,207,767 | €1,167,720 | -€40,047 | -3.3% |
| Plant, machinery and equipment | 23 | €0 | - | = | |
| Furniture and vehicles | 24 | €21,884 | €14,505 | -€7,379 | -33.7% |
| Current assets | 29/58 | €185,164 | €197,160 | +€11,996 | +6.5% |
| Stocks and contracts in progress | 3 | €171,598 | €171,598 | = | 0.0% |
| Stocks | 30/36 | €171,598 | €171,598 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €5,285 | €10,671 | +€5,386 | +102% |
| Trade receivables | 40 | €5,285 | €10,285 | +€5,000 | +94.6% |
| Other amounts receivable | 41 | €0 | €386 | +€386 | |
| Cash at bank and in hand | 54/58 | €7,343 | €13,945 | +€6,602 | +89.9% |
| Deferred charges and accrued income | 490/1 | €938 | €946 | +€8 | +0.9% |
| Total equity and liabilities | 10/49 | €1,414,816 | €1,379,385 | -€35,430 | -2.5% |
| Equity | 10/15 | €320,274 | €343,793 | +€23,519 | +7.3% |
| Contributions | 10/11 | €25,236 | €25,236 | = | 0.0% |
| Reserves | 13 | €293,571 | €313,571 | +€20,000 | +6.8% |
| Non-distributable reserves | 130/1 | €3,571 | €3,571 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,571 | €3,571 | = | 0.0% |
| Distributable reserves | 133 | €290,000 | €310,000 | +€20,000 | +6.9% |
| Profit (loss) carried forward | 14 | €1,468 | €4,986 | +€3,519 | +240% |
| Amounts payable | 17/49 | €1,094,542 | €1,035,593 | -€58,949 | -5.4% |
| Amounts payable after more than one year | 17 | €227,521 | €183,406 | -€44,114 | -19.4% |
| Financial debts | 170/4 | €227,521 | €183,406 | -€44,114 | -19.4% |
| Amounts payable within one year | 42/48 | €866,421 | €851,754 | -€14,667 | -1.7% |
| Current portion of amounts payable after more than one year | 42 | €41,739 | €44,114 | +€2,376 | +5.7% |
| Trade debts | 44 | €7,119 | €2,139 | -€4,981 | -70.0% |
| Suppliers | 440/4 | €7,119 | €2,139 | -€4,981 | -70.0% |
| Taxes, remuneration and social security | 45 | €6,885 | €7,703 | +€818 | +11.9% |
| Taxes | 450/3 | €6,885 | €7,703 | +€818 | +11.9% |
| Other amounts payable | 47/48 | €810,678 | €797,798 | -€12,880 | -1.6% |
| Accrued charges and deferred income | 492/3 | €600 | €432 | -€168 | -28.0% |
| Non-recurring operating income | 76A | €400 | €0 | -€400 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,599 | €47,426 | +€20,827 | +78.3% |
| Other operating charges | 640/8 | €11,866 | €10,161 | -€1,705 | -14.4% |
| Non-recurring operating charges | 66A | €0 | €0 | -€0 | -100% |
| Gross operating margin | 9900 | €81,313 | €98,683 | +€17,370 | +21.4% |
| Operating profit (loss) | 9901 | €42,848 | €41,096 | -€1,751 | -4.1% |
| Financial income | 75/76B | €1,817 | €1 | -€1,816 | -99.9% |
| Recurring financial income | 75 | €1,817 | €1 | -€1,816 | -99.9% |
| Financial charges | 65/66B | €16,513 | €17,226 | +€714 | +4.3% |
| Recurring financial charges | 65 | €16,513 | €17,226 | +€714 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | €28,152 | €23,871 | -€4,281 | -15.2% |
| Income taxes | 67/77 | - | €352 | +€352 | |
| Profit (loss) for the period | 9904 | €28,152 | €23,519 | -€4,633 | -16.5% |
| Profit (loss) for the period to be appropriated | 9905 | €28,152 | €23,519 | -€4,633 | -16.5% |
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 21 October 2026 via checked.be.