LVDL: 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.
LVDL
Largest movements
- Cash -€145,744
down €145,744 (-72.2%), from €201,933 to €56,189
mainly Contributions, distributions and other (-€128,098) and Receivables after one year (-€72,532)
- Receivables after one year +€72,532
up €72,532 (+163%), from €44,496 to €117,028
- Receivables within one year -€24,316
down €24,316 (-23.7%), from €102,478 to €78,163
of which Trade receivables: -€28,173
- Reserves -€91,451
down €91,451 (-27.0%), from €338,468 to €247,017
- Tax, wage and social debts -€8,278
down €8,278 (-86.0%), from €9,628 to €1,350
- Other debts +€5,804
up €5,804 (+162%), from €3,589 to €9,393
- Gross operating margin -€36,444
down €36,444 (-40.6%), from €89,820 to €53,376
- Taxes -€10,242
down €10,242 (-38.4%), from €26,696 to €16,453
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 | €354,328 | €260,113 | -€94,215 | -26.6% |
| Fixed assets | 21/28 | €4,101 | €7,383 | +€3,282 | +80.0% |
| Tangible fixed assets | 22/27 | €4,101 | €7,383 | +€3,282 | +80.0% |
| Furniture and vehicles | 24 | €0 | €3,704 | +€3,704 | |
| Other tangible fixed assets | 26 | €4,101 | €3,679 | -€423 | -10.3% |
| Current assets | 29/58 | €350,226 | €252,729 | -€97,497 | -27.8% |
| Amounts receivable after more than one year | 29 | €44,496 | €117,028 | +€72,532 | +163% |
| Other amounts receivable | 291 | €44,496 | €117,028 | +€72,532 | +163% |
| Amounts receivable within one year | 40/41 | €102,478 | €78,163 | -€24,316 | -23.7% |
| Trade receivables | 40 | €97,155 | €68,982 | -€28,173 | -29.0% |
| Other amounts receivable | 41 | €5,323 | €9,181 | +€3,858 | +72.5% |
| Cash at bank and in hand | 54/58 | €201,933 | €56,189 | -€145,744 | -72.2% |
| Deferred charges and accrued income | 490/1 | €1,319 | €1,349 | +€30 | +2.3% |
| Total equity and liabilities | 10/49 | €354,328 | €260,113 | -€94,215 | -26.6% |
| Equity | 10/15 | €338,468 | €247,017 | -€91,451 | -27.0% |
| Reserves | 13 | €338,468 | €247,017 | -€91,451 | -27.0% |
| Distributable reserves | 133 | €338,468 | €247,017 | -€91,451 | -27.0% |
| Amounts payable | 17/49 | €15,860 | €13,096 | -€2,764 | -17.4% |
| Amounts payable within one year | 42/48 | €15,360 | €12,596 | -€2,764 | -18.0% |
| Trade debts | 44 | €2,142 | €1,853 | -€290 | -13.5% |
| Suppliers | 440/4 | €2,142 | €1,853 | -€290 | -13.5% |
| Taxes, remuneration and social security | 45 | €9,628 | €1,350 | -€8,278 | -86.0% |
| Taxes | 450/3 | €9,628 | €1,350 | -€8,278 | -86.0% |
| Other amounts payable | 47/48 | €3,589 | €9,393 | +€5,804 | +162% |
| Accrued charges and deferred income | 492/3 | €500 | €500 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,359 | €1,018 | -€341 | -25.1% |
| Other operating charges | 640/8 | €1,526 | €1,033 | -€494 | -32.3% |
| Gross operating margin | 9900 | €89,820 | €53,376 | -€36,444 | -40.6% |
| Operating profit (loss) | 9901 | €86,935 | €51,325 | -€35,609 | -41.0% |
| Financial income | 75/76B | €2,217 | €1,899 | -€318 | -14.3% |
| Recurring financial income | 75 | €2,217 | €1,899 | -€318 | -14.3% |
| Financial charges | 65/66B | €128 | €125 | -€4 | -3.0% |
| Recurring financial charges | 65 | €128 | €125 | -€4 | -3.0% |
| Profit (loss) for the period before taxes | 9903 | €89,023 | €53,100 | -€35,923 | -40.4% |
| Income taxes | 67/77 | €26,696 | €16,453 | -€10,242 | -38.4% |
| Profit (loss) for the period | 9904 | €62,328 | €36,647 | -€25,681 | -41.2% |
| Profit (loss) for the period to be appropriated | 9905 | €62,328 | €36,647 | -€25,681 | -41.2% |
Source: filed annual accounts (NBB), financial years ended 31 August 2024 and 31 August 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.