LVdM: 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.
LVdM
Largest movements
- Receivables within one year -€18,318
down €18,318 (-39.5%), from €46,348 to €28,030
of which Trade receivables: -€16,541
- Stocks and contracts +€3,043
up €3,043 (+20.6%), from €14,780 to €17,823
- Tangible fixed assets -€1,186
down €1,186 (-7.5%), from €15,882 to €14,696
of which Land and buildings: -€1,788
- Profit (loss) carried forward -€27,659
down €27,659 (-142.3%), from -€19,441 to -€47,100
- Trade debts +€17,100
up €17,100 (+847.5%), from €2,018 to €19,118
- Accrued charges and deferred income -€4,718
down €4,718 (-42.6%), from €11,076 to €6,358
- Gross operating margin -€41,459
down €41,459, from €21,128 to -€20,331
- Depreciation +€2,850
up €2,850 (+217.3%), from €1,311 to €4,161
- Taxes -€1,557
down €1,557 (-85.0%), from €1,832 to €275
- Other operating charges -€795
down €795 (-26.1%), from €3,043 to €2,247
- Financial charges +€366
up €366 (+123.8%), from €295 to €661
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 | €79,708 | €63,126 | -€16,582 | -20.8% |
| Fixed assets | 21/28 | €15,882 | €14,696 | -€1,186 | -7.5% |
| Tangible fixed assets | 22/27 | €15,882 | €14,696 | -€1,186 | -7.5% |
| Land and buildings | 22 | €8,484 | €6,696 | -€1,788 | -21.1% |
| Plant, machinery and equipment | 23 | €7,398 | €8,000 | +€603 | +8.1% |
| Current assets | 29/58 | €63,826 | €48,430 | -€15,396 | -24.1% |
| Stocks and contracts in progress | 3 | €14,780 | €17,823 | +€3,043 | +20.6% |
| Stocks | 30/36 | €14,780 | €17,823 | +€3,043 | +20.6% |
| Amounts receivable within one year | 40/41 | €46,348 | €28,030 | -€18,318 | -39.5% |
| Trade receivables | 40 | €42,136 | €25,595 | -€16,541 | -39.3% |
| Other amounts receivable | 41 | €4,212 | €2,435 | -€1,777 | -42.2% |
| Cash at bank and in hand | 54/58 | €1,226 | €456 | -€770 | -62.8% |
| Deferred charges and accrued income | 490/1 | €1,472 | €2,120 | +€648 | +44.0% |
| Total equity and liabilities | 10/49 | €79,708 | €63,126 | -€16,582 | -20.8% |
| Equity | 10/15 | €29,496 | €1,837 | -€27,659 | -93.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €30,336 | €30,336 | = | 0.0% |
| Distributable reserves | 133 | €30,336 | €30,336 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,441 | -€47,100 | -€27,659 | -142.3% |
| Amounts payable | 17/49 | €50,212 | €61,289 | +€11,077 | +22.1% |
| Amounts payable within one year | 42/48 | €39,137 | €54,932 | +€15,795 | +40.4% |
| Financial debts | 43 | €1,056 | €686 | -€370 | -35.0% |
| Credit institutions | 430/8 | €1,056 | €686 | -€370 | -35.0% |
| Trade debts | 44 | €2,018 | €19,118 | +€17,100 | +847.5% |
| Suppliers | 440/4 | €2,018 | €19,118 | +€17,100 | +847.5% |
| Taxes, remuneration and social security | 45 | €4,203 | €3,947 | -€256 | -6.1% |
| Taxes | 450/3 | €2,094 | €2,107 | +€13 | +0.6% |
| Remuneration and social security | 454/9 | €2,109 | €1,840 | -€270 | -12.8% |
| Other amounts payable | 47/48 | €31,860 | €31,180 | -€680 | -2.1% |
| Accrued charges and deferred income | 492/3 | €11,076 | €6,358 | -€4,718 | -42.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,311 | €4,161 | +€2,850 | +217.3% |
| Other operating charges | 640/8 | €3,043 | €2,247 | -€795 | -26.1% |
| Gross operating margin | 9900 | €21,128 | -€20,331 | -€41,459 | |
| Operating profit (loss) | 9901 | €16,774 | -€26,739 | -€43,513 | |
| Financial income | 75/76B | €39 | €17 | -€22 | -57.2% |
| Recurring financial income | 75 | €39 | €17 | -€22 | -57.2% |
| Financial charges | 65/66B | €295 | €661 | +€366 | +123.8% |
| Recurring financial charges | 65 | €295 | €661 | +€366 | +123.8% |
| Profit (loss) for the period before taxes | 9903 | €16,517 | -€27,384 | -€43,901 | |
| Income taxes | 67/77 | €1,832 | €275 | -€1,557 | -85.0% |
| Profit (loss) for the period | 9904 | €14,685 | -€27,659 | -€42,344 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,685 | -€27,659 | -€42,344 |
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 9 October 2026 via checked.be.