LVC Projects: 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.
LVC Projects
Largest movements
- Tangible fixed assets +€90,446
up €90,446 (+243%), from €37,193 to €127,639
of which Other tangible fixed assets: +€47,161
- Cash -€60,155
down €60,155 (-77.3%), from €77,820 to €17,665
mainly Investment in fixed assets (net) (-€124,327) and Net result for the year (-€26,408)
- Current investments -€28,880
down €28,880 (-100%), from €28,880 to €0
- Receivables within one year -€8,751
down €8,751 (-22.9%), from €38,216 to €29,466
of which Trade receivables: -€8,390
- Deferred charges and accrued income -€2,262
down €2,262 (-48.1%), from €4,700 to €2,439
- Profit (loss) carried forward -€26,408
down €26,408 (-1,092%), from -€2,418 to -€28,826
- Debts after one year +€21,835
up €21,835 (+82.3%), from €26,545 to €48,380
- Trade debts -€9,878
down €9,878 (-86.7%), from €11,388 to €1,510
- Depreciation +€14,546
up €14,546 (+75.2%), from €19,334 to €33,880
- Gross operating margin -€13,082
down €13,082 (-64.5%), from €20,281 to €7,198
- Financial income +€2,607
up €2,607 (+381%), from €685 to €3,292
- Financial charges +€1,368
up €1,368 (+227%), from €602 to €1,969
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 | €186,809 | €177,208 | -€9,600 | -5.1% |
| Fixed assets | 21/28 | €37,193 | €127,639 | +€90,446 | +243% |
| Tangible fixed assets | 22/27 | €37,193 | €127,639 | +€90,446 | +243% |
| Plant, machinery and equipment | 23 | €2,238 | €6,296 | +€4,058 | +181% |
| Furniture and vehicles | 24 | €34,955 | €74,182 | +€39,228 | +112% |
| Other tangible fixed assets | 26 | - | €47,161 | +€47,161 | |
| Current assets | 29/58 | €149,616 | €49,570 | -€100,047 | -66.9% |
| Amounts receivable within one year | 40/41 | €38,216 | €29,466 | -€8,751 | -22.9% |
| Trade receivables | 40 | €36,514 | €28,124 | -€8,390 | -23.0% |
| Other amounts receivable | 41 | €1,702 | €1,342 | -€360 | -21.2% |
| Current investments | 50/53 | €28,880 | €0 | -€28,880 | -100% |
| Cash at bank and in hand | 54/58 | €77,820 | €17,665 | -€60,155 | -77.3% |
| Deferred charges and accrued income | 490/1 | €4,700 | €2,439 | -€2,262 | -48.1% |
| Total equity and liabilities | 10/49 | €186,809 | €177,208 | -€9,600 | -5.1% |
| Equity | 10/15 | €119,613 | €93,205 | -€26,408 | -22.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €103,431 | €103,431 | = | 0.0% |
| Distributable reserves | 133 | €103,431 | €103,431 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,418 | -€28,826 | -€26,408 | -1,092% |
| Amounts payable | 17/49 | €67,196 | €84,003 | +€16,807 | +25.0% |
| Amounts payable after more than one year | 17 | €26,545 | €48,380 | +€21,835 | +82.3% |
| Financial debts | 170/4 | €26,545 | €48,380 | +€21,835 | +82.3% |
| Amounts payable within one year | 42/48 | €40,363 | €35,151 | -€5,212 | -12.9% |
| Current portion of amounts payable after more than one year | 42 | €23,734 | €25,461 | +€1,727 | +7.3% |
| Trade debts | 44 | €11,388 | €1,510 | -€9,878 | -86.7% |
| Suppliers | 440/4 | €11,388 | €1,510 | -€9,878 | -86.7% |
| Taxes, remuneration and social security | 45 | €1,537 | €2,960 | +€1,422 | +92.5% |
| Taxes | 450/3 | €1,537 | €2,960 | +€1,422 | +92.5% |
| Other amounts payable | 47/48 | €3,703 | €5,221 | +€1,518 | +41.0% |
| Accrued charges and deferred income | 492/3 | €288 | €472 | +€184 | +63.8% |
| Non-recurring operating income | 76A | - | €300 | +€300 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €19,334 | €33,880 | +€14,546 | +75.2% |
| Other operating charges | 640/8 | €569 | €694 | +€125 | +22.0% |
| Non-recurring operating charges | 66A | €5,567 | €0 | -€5,567 | -100% |
| Gross operating margin | 9900 | €20,281 | €7,198 | -€13,082 | -64.5% |
| Operating profit (loss) | 9901 | -€5,189 | -€27,376 | -€22,187 | -428% |
| Financial income | 75/76B | €685 | €3,292 | +€2,607 | +381% |
| Recurring financial income | 75 | €685 | €3,292 | +€2,607 | +381% |
| Financial charges | 65/66B | €602 | €1,969 | +€1,368 | +227% |
| Recurring financial charges | 65 | €602 | €1,969 | +€1,368 | +227% |
| Profit (loss) for the period before taxes | 9903 | -€5,106 | -€26,054 | -€20,948 | -410% |
| Income taxes | 67/77 | €501 | €354 | -€147 | -29.4% |
| Profit (loss) for the period | 9904 | -€5,607 | -€26,408 | -€20,801 | -371% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,607 | -€26,408 | -€20,801 | -371% |
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 17 October 2026 via checked.be.