LVDM Holdco: 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 Holdco
Largest movements
- Receivables after one year +€146,593
new in 2025: €146,593
- Financial fixed assets -€55,268
down €55,268 (-93.5%), from €59,140 to €3,873
- Receivables within one year +€7,577
up €7,577 (+57.5%), from €13,169 to €20,745
of which Trade receivables: +€6,946
- Tangible fixed assets +€7,191
up €7,191 (+252%), from €2,856 to €10,047
- Deferred charges and accrued income +€3,450
up €3,450 (+53,902%), from €6 to €3,456
- Reserves +€77,650
up €77,650 (+93.0%), from €83,459 to €161,109
- Tax, wage and social debts +€29,927
up €29,927 (+74.5%), from €40,157 to €70,085
- Gross operating margin -€11,173
down €11,173 (-9.3%), from €120,667 to €109,495
- Taxes -€3,181
down €3,181 (-9.1%), from €34,859 to €31,677
- Financial income +€2,470
up €2,470 (+24,533%), from €10 to €2,481
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 | €133,035 | €241,894 | +€108,860 | +81.8% |
| Fixed assets | 21/28 | €61,996 | €13,920 | -€48,076 | -77.5% |
| Tangible fixed assets | 22/27 | €2,856 | €10,047 | +€7,191 | +252% |
| Furniture and vehicles | 24 | €2,856 | €10,047 | +€7,191 | +252% |
| Financial fixed assets | 28 | €59,140 | €3,873 | -€55,268 | -93.5% |
| Current assets | 29/58 | €71,039 | €227,974 | +€156,936 | +221% |
| Amounts receivable after more than one year | 29 | - | €146,593 | +€146,593 | |
| Other amounts receivable | 291 | - | €146,593 | +€146,593 | |
| Amounts receivable within one year | 40/41 | €13,169 | €20,745 | +€7,577 | +57.5% |
| Trade receivables | 40 | €13,154 | €20,100 | +€6,946 | +52.8% |
| Other amounts receivable | 41 | €14 | €645 | +€631 | +4,415% |
| Cash at bank and in hand | 54/58 | €57,864 | €57,180 | -€683 | -1.2% |
| Deferred charges and accrued income | 490/1 | €6 | €3,456 | +€3,450 | +53,902% |
| Total equity and liabilities | 10/49 | €133,035 | €241,894 | +€108,860 | +81.8% |
| Equity | 10/15 | €86,459 | €164,109 | +€77,650 | +89.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €83,459 | €161,109 | +€77,650 | +93.0% |
| Distributable reserves | 133 | €83,459 | €161,109 | +€77,650 | +93.0% |
| Amounts payable | 17/49 | €46,575 | €77,785 | +€31,209 | +67.0% |
| Amounts payable within one year | 42/48 | €46,575 | €77,785 | +€31,209 | +67.0% |
| Trade debts | 44 | €6,418 | €7,700 | +€1,282 | +20.0% |
| Suppliers | 440/4 | €6,418 | €7,700 | +€1,282 | +20.0% |
| Taxes, remuneration and social security | 45 | €40,157 | €70,085 | +€29,927 | +74.5% |
| Taxes | 450/3 | €40,157 | €70,085 | +€29,927 | +74.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €773 | €1,160 | +€387 | +50.1% |
| Other operating charges | 640/8 | €1,521 | €1,395 | -€126 | -8.3% |
| Gross operating margin | 9900 | €120,667 | €109,495 | -€11,173 | -9.3% |
| Operating profit (loss) | 9901 | €118,374 | €106,940 | -€11,434 | -9.7% |
| Financial income | 75/76B | €10 | €2,481 | +€2,470 | +24,533% |
| Recurring financial income | 75 | €10 | €2,481 | +€2,470 | +24,533% |
| Financial charges | 65/66B | €66 | €93 | +€27 | +40.5% |
| Recurring financial charges | 65 | €66 | €93 | +€27 | +40.5% |
| Profit (loss) for the period before taxes | 9903 | €118,318 | €109,327 | -€8,991 | -7.6% |
| Income taxes | 67/77 | €34,859 | €31,677 | -€3,181 | -9.1% |
| Profit (loss) for the period | 9904 | €83,459 | €77,650 | -€5,809 | -7.0% |
| Profit (loss) for the period to be appropriated | 9905 | €83,459 | €77,650 | -€5,809 | -7.0% |
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 18 October 2026 via checked.be.