LVB Financials: 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.
LVB Financials
Largest movements
- Tangible fixed assets +€721,497
up €721,497 (+604%), from €119,368 to €840,865
of which Land and buildings: +€745,713
- Receivables within one year -€225,337
down €225,337 (-95.5%), from €235,907 to €10,570
of which Other amounts receivable: -€191,337
- Cash -€67,798
down €67,798 (-61.7%), from €109,924 to €42,126
mainly Investment in fixed assets (net) (-€754,823) and Contributions, distributions and other (-€336,968)
- Current investments -€53,217
down €53,217 (-24.0%), from €221,331 to €168,114
- Receivables after one year +€40,000
new in 2025: €40,000
- Debts after one year +€579,184
up €579,184 (+1,696%), from €34,146 to €613,330
- Reserves -€246,553
down €246,553 (-39.5%), from €624,436 to €377,884
- Other debts +€49,774
up €49,774, from €0 to €49,774
- Current portion of long-term debt +€32,511
up €32,511 (+203%), from €16,033 to €48,543
- Financial income -€85,733
down €85,733 (-98.9%), from €86,685 to €951
- Depreciation +€11,870
up €11,870 (+55.3%), from €21,455 to €33,326
- Taxes -€10,939
down €10,939 (-29.0%), from €37,722 to €26,783
- Gross operating margin -€8,590
down €8,590 (-5.2%), from €163,973 to €155,383
- Financial charges +€2,586
up €2,586 (+134%), from €1,927 to €4,512
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €690,030 | €1,105,175 | +€415,145 | +60.2% |
| Fixed assets | 21/28 | €122,868 | €844,365 | +€721,497 | +587% |
| Tangible fixed assets | 22/27 | €119,368 | €840,865 | +€721,497 | +604% |
| Land and buildings | 22 | - | €745,713 | +€745,713 | |
| Furniture and vehicles | 24 | €87,616 | €63,731 | -€23,885 | -27.3% |
| Other tangible fixed assets | 26 | €31,752 | €31,421 | -€331 | -1.0% |
| Financial fixed assets | 28 | €3,500 | €3,500 | = | 0.0% |
| Current assets | 29/58 | €567,162 | €260,810 | -€306,352 | -54.0% |
| Amounts receivable after more than one year | 29 | - | €40,000 | +€40,000 | |
| Other amounts receivable | 291 | - | €40,000 | +€40,000 | |
| Amounts receivable within one year | 40/41 | €235,907 | €10,570 | -€225,337 | -95.5% |
| Trade receivables | 40 | €40,000 | €6,000 | -€34,000 | -85.0% |
| Other amounts receivable | 41 | €195,907 | €4,570 | -€191,337 | -97.7% |
| Current investments | 50/53 | €221,331 | €168,114 | -€53,217 | -24.0% |
| Cash at bank and in hand | 54/58 | €109,924 | €42,126 | -€67,798 | -61.7% |
| Total equity and liabilities | 10/49 | €690,030 | €1,105,175 | +€415,145 | +60.2% |
| Equity | 10/15 | €629,436 | €382,884 | -€246,553 | -39.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €624,436 | €377,884 | -€246,553 | -39.5% |
| Distributable reserves | 133 | €624,436 | €377,884 | -€246,553 | -39.5% |
| Amounts payable | 17/49 | €60,593 | €722,291 | +€661,698 | +1,092% |
| Amounts payable after more than one year | 17 | €34,146 | €613,330 | +€579,184 | +1,696% |
| Financial debts | 170/4 | €34,146 | €613,330 | +€579,184 | +1,696% |
| Amounts payable within one year | 42/48 | €26,447 | €108,961 | +€82,514 | +312% |
| Current portion of amounts payable after more than one year | 42 | €16,033 | €48,543 | +€32,511 | +203% |
| Trade debts | 44 | €264 | €77 | -€187 | -70.9% |
| Suppliers | 440/4 | €264 | €77 | -€187 | -70.9% |
| Taxes, remuneration and social security | 45 | €10,151 | €10,567 | +€416 | +4.1% |
| Taxes | 450/3 | €7,151 | €7,567 | +€416 | +5.8% |
| Remuneration and social security | 454/9 | €3,000 | €3,000 | = | 0.0% |
| Other amounts payable | 47/48 | €0 | €49,774 | +€49,774 | |
| Non-recurring operating income | 76A | €6,712 | - | -€6,712 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,455 | €33,326 | +€11,870 | +55.3% |
| Other operating charges | 640/8 | €1,831 | €1,298 | -€534 | -29.1% |
| Gross operating margin | 9900 | €163,973 | €155,383 | -€8,590 | -5.2% |
| Operating profit (loss) | 9901 | €140,686 | €120,760 | -€19,926 | -14.2% |
| Financial income | 75/76B | €86,685 | €951 | -€85,733 | -98.9% |
| Recurring financial income | 75 | €86,685 | €951 | -€85,733 | -98.9% |
| Financial charges | 65/66B | €1,927 | €4,512 | +€2,586 | +134% |
| Recurring financial charges | 65 | €1,927 | €4,512 | +€2,586 | +134% |
| Profit (loss) for the period before taxes | 9903 | €225,444 | €117,199 | -€108,246 | -48.0% |
| Income taxes | 67/77 | €37,722 | €26,783 | -€10,939 | -29.0% |
| Profit (loss) for the period | 9904 | €187,722 | €90,416 | -€97,307 | -51.8% |
| Profit (loss) for the period to be appropriated | 9905 | €187,722 | €90,416 | -€97,307 | -51.8% |
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 25 October 2026 via checked.be.