LVBT: 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.
LVBT
Largest movements
- Cash +€71,994
up €71,994 (+222.7%), from €32,330 to €104,324
mainly Net result for the year (+€67,291) and Receivables within one year (+€2,465)
- Receivables within one year -€2,465
down €2,465 (-12.0%), from €20,510 to €18,045
of which Trade receivables: -€5,292
- Reserves +€110,913
new in 2025: €110,913
- Profit (loss) carried forward -€43,622
no longer reported in 2025 (was €43,622)
- Tax, wage and social debts +€2,000
up €2,000 (+29.5%), from €6,783 to €8,783
- Gross operating margin +€30,054
up €30,054 (+54.6%), from €54,994 to €85,048
- Taxes +€6,098
up €6,098 (+54.4%), from €11,219 to €17,317
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 | €53,409 | €122,709 | +€69,300 | +129.8% |
| Fixed assets | 21/28 | €570 | €339 | -€231 | -40.6% |
| Tangible fixed assets | 22/27 | €570 | €339 | -€231 | -40.6% |
| Plant, machinery and equipment | 23 | €570 | €339 | -€231 | -40.6% |
| Current assets | 29/58 | €52,840 | €122,371 | +€69,531 | +131.6% |
| Amounts receivable within one year | 40/41 | €20,510 | €18,045 | -€2,465 | -12.0% |
| Trade receivables | 40 | €20,510 | €15,217 | -€5,292 | -25.8% |
| Other amounts receivable | 41 | - | €2,827 | +€2,827 | |
| Cash at bank and in hand | 54/58 | €32,330 | €104,324 | +€71,994 | +222.7% |
| Deferred charges and accrued income | 490/1 | - | €2 | +€2 | |
| Total equity and liabilities | 10/49 | €53,409 | €122,709 | +€69,300 | +129.8% |
| Equity | 10/15 | €46,122 | €113,413 | +€67,291 | +145.9% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | - | €110,913 | +€110,913 | |
| Distributable reserves | 133 | - | €110,913 | +€110,913 | |
| Profit (loss) carried forward | 14 | €43,622 | - | -€43,622 | |
| Amounts payable | 17/49 | €7,287 | €9,296 | +€2,009 | +27.6% |
| Amounts payable within one year | 42/48 | €7,287 | €9,296 | +€2,009 | +27.6% |
| Trade debts | 44 | €504 | €514 | +€9 | +1.8% |
| Suppliers | 440/4 | €504 | €514 | +€9 | +1.8% |
| Taxes, remuneration and social security | 45 | €6,783 | €8,783 | +€2,000 | +29.5% |
| Taxes | 450/3 | €6,783 | €8,783 | +€2,000 | +29.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123 | €231 | +€108 | +87.2% |
| Other operating charges | 640/8 | - | €120 | +€120 | |
| Gross operating margin | 9900 | €54,994 | €85,048 | +€30,054 | +54.6% |
| Operating profit (loss) | 9901 | €54,871 | €84,697 | +€29,826 | +54.4% |
| Financial charges | 65/66B | €30 | €89 | +€59 | +197.0% |
| Recurring financial charges | 65 | €30 | €89 | +€59 | +197.0% |
| Profit (loss) for the period before taxes | 9903 | €54,841 | €84,608 | +€29,767 | +54.3% |
| Income taxes | 67/77 | €11,219 | €17,317 | +€6,098 | +54.4% |
| Profit (loss) for the period | 9904 | €43,622 | €67,291 | +€23,669 | +54.3% |
| Profit (loss) for the period to be appropriated | 9905 | €43,622 | €67,291 | +€23,669 | +54.3% |
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.