LVC 14RZ: what changed
LVC 14RZ
Largest movements
- Receivables within one year +€18,704
up €18,704 (+793%), from €2,357 to €21,061
of which Other amounts receivable: +€10,091
- Deferred charges and accrued income -€15,646
down €15,646 (-35.3%), from €44,377 to €28,731
- Cash -€4,775
down €4,775 (-14.0%), from €34,184 to €29,409
mainly Contributions, distributions and other (-€275,207) and Receivables within one year (-€18,704)
- Other debts +€232,625
up €232,625 (+1,221%), from €19,052 to €251,677
- Reserves -€231,308
no longer reported in 2025 (was €231,308)
- Current portion of long-term debt -€3,732
down €3,732 (-74.6%), from €5,000 to €1,268
- Financial income -€6,067
down €6,067 (-14.1%), from €43,078 to €37,011
- Gross operating margin -€6,006
down €6,006 (-32.6%), from €18,450 to €12,444
- Taxes -€1,055
down €1,055 (-31.3%), from €3,370 to €2,315
- Financial charges -€559
down €559 (-20.7%), from €2,707 to €2,148
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €283,514 | €281,296 | -€2,218 | -0.8% |
| Fixed assets | 21/28 | €202,597 | €202,096 | -€501 | -0.2% |
| Tangible fixed assets | 22/27 | €4,497 | €3,996 | -€501 | -11.1% |
| Other tangible fixed assets | 26 | €4,497 | €3,996 | -€501 | -11.1% |
| Financial fixed assets | 28 | €198,100 | €198,100 | = | 0.0% |
| Current assets | 29/58 | €80,918 | €79,201 | -€1,717 | -2.1% |
| Amounts receivable within one year | 40/41 | €2,357 | €21,061 | +€18,704 | +793% |
| Trade receivables | 40 | €614 | €9,227 | +€8,613 | +1,402% |
| Other amounts receivable | 41 | €1,743 | €11,834 | +€10,091 | +579% |
| Cash at bank and in hand | 54/58 | €34,184 | €29,409 | -€4,775 | -14.0% |
| Deferred charges and accrued income | 490/1 | €44,377 | €28,731 | -€15,646 | -35.3% |
| Total equity and liabilities | 10/49 | €283,514 | €281,296 | -€2,218 | -0.8% |
| Equity | 10/15 | €251,768 | €20,460 | -€231,308 | -91.9% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €231,308 | - | -€231,308 | |
| Distributable reserves | 133 | €231,308 | - | -€231,308 | |
| Amounts payable | 17/49 | €31,746 | €260,836 | +€229,090 | +722% |
| Amounts payable within one year | 42/48 | €31,555 | €260,644 | +€229,089 | +726% |
| Current portion of amounts payable after more than one year | 42 | €5,000 | €1,268 | -€3,732 | -74.6% |
| Trade debts | 44 | €2,173 | €2,309 | +€136 | +6.3% |
| Suppliers | 440/4 | €2,173 | €2,309 | +€136 | +6.3% |
| Taxes, remuneration and social security | 45 | €5,330 | €5,390 | +€60 | +1.1% |
| Taxes | 450/3 | €5,330 | €5,390 | +€60 | +1.1% |
| Other amounts payable | 47/48 | €19,052 | €251,677 | +€232,625 | +1,221% |
| Accrued charges and deferred income | 492/3 | €191 | €192 | +€1 | +0.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €397 | €501 | +€105 | +26.3% |
| Other operating charges | 640/8 | €717 | €593 | -€124 | -17.4% |
| Gross operating margin | 9900 | €18,450 | €12,444 | -€6,006 | -32.6% |
| Operating profit (loss) | 9901 | €17,336 | €11,350 | -€5,986 | -34.5% |
| Financial income | 75/76B | €43,078 | €37,011 | -€6,067 | -14.1% |
| Recurring financial income | 75 | €43,078 | €37,011 | -€6,067 | -14.1% |
| Financial charges | 65/66B | €2,707 | €2,148 | -€559 | -20.7% |
| Recurring financial charges | 65 | €2,707 | €2,148 | -€559 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €57,707 | €46,214 | -€11,493 | -19.9% |
| Income taxes | 67/77 | €3,370 | €2,315 | -€1,055 | -31.3% |
| Profit (loss) for the period | 9904 | €54,337 | €43,898 | -€10,439 | -19.2% |
| Profit (loss) for the period to be appropriated | 9905 | €54,337 | €43,898 | -€10,439 | -19.2% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.