LVDV-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.
LVDV-PROJECTS
Largest movements
- Receivables after one year +€130,130
new in 2025: €130,130
- Receivables within one year -€110,157
down €110,157 (-87.4%), from €126,031 to €15,873
of which Other amounts receivable: -€126,031
- Cash -€3,464
down €3,464 (-55.8%), from €6,206 to €2,742
mainly Receivables after one year (-€130,130) and Investment in fixed assets (net) (-€2,449)
- Reserves +€10,630
up €10,630 (+18.6%), from €57,234 to €67,863
- Trade debts +€5,455
up €5,455 (+1,272%), from €429 to €5,884
- Financial income -€4,694
down €4,694 (-54.7%), from €8,579 to €3,885
- Other operating charges -€4,449
down €4,449 (-96.2%), from €4,625 to €177
- Depreciation +€486
up €486 (+71.7%), from €678 to €1,164
- Gross operating margin -€464
down €464 (-3.1%), from €14,767 to €14,303
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 | €135,019 | €152,575 | +€17,555 | +13.0% |
| Fixed assets | 21/28 | €2,041 | €3,326 | +€1,285 | +63.0% |
| Tangible fixed assets | 22/27 | €1,541 | €2,826 | +€1,285 | +83.4% |
| Plant, machinery and equipment | 23 | - | €1,963 | +€1,963 | |
| Furniture and vehicles | 24 | €1,541 | €863 | -€678 | -44.0% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €132,978 | €149,248 | +€16,270 | +12.2% |
| Amounts receivable after more than one year | 29 | - | €130,130 | +€130,130 | |
| Other amounts receivable | 291 | - | €130,130 | +€130,130 | |
| Amounts receivable within one year | 40/41 | €126,031 | €15,873 | -€110,157 | -87.4% |
| Trade receivables | 40 | €0 | €15,873 | +€15,873 | |
| Other amounts receivable | 41 | €126,031 | €0 | -€126,031 | -100% |
| Cash at bank and in hand | 54/58 | €6,206 | €2,742 | -€3,464 | -55.8% |
| Deferred charges and accrued income | 490/1 | €742 | €504 | -€239 | -32.2% |
| Total equity and liabilities | 10/49 | €135,019 | €152,575 | +€17,555 | +13.0% |
| Equity | 10/15 | €120,466 | €131,096 | +€10,630 | +8.8% |
| Contributions | 10/11 | €7,195 | €7,195 | = | 0.0% |
| Reserves | 13 | €57,234 | €67,863 | +€10,630 | +18.6% |
| Distributable reserves | 133 | €57,234 | €67,863 | +€10,630 | +18.6% |
| Profit (loss) carried forward | 14 | €56,037 | €56,037 | = | 0.0% |
| Amounts payable | 17/49 | €14,554 | €21,479 | +€6,925 | +47.6% |
| Amounts payable within one year | 42/48 | €14,554 | €21,479 | +€6,925 | +47.6% |
| Trade debts | 44 | €429 | €5,884 | +€5,455 | +1,272% |
| Suppliers | 440/4 | €429 | €5,884 | +€5,455 | +1,272% |
| Taxes, remuneration and social security | 45 | €14,125 | €15,595 | +€1,470 | +10.4% |
| Taxes | 450/3 | €14,125 | €15,595 | +€1,470 | +10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €678 | €1,164 | +€486 | +71.7% |
| Other operating charges | 640/8 | €4,625 | €177 | -€4,449 | -96.2% |
| Gross operating margin | 9900 | €14,767 | €14,303 | -€464 | -3.1% |
| Operating profit (loss) | 9901 | €9,464 | €12,962 | +€3,499 | +37.0% |
| Financial income | 75/76B | €8,579 | €3,885 | -€4,694 | -54.7% |
| Recurring financial income | 75 | €8,579 | €3,885 | -€4,694 | -54.7% |
| Financial charges | 65/66B | €923 | €1,026 | +€103 | +11.1% |
| Recurring financial charges | 65 | €923 | €1,026 | +€103 | +11.1% |
| Profit (loss) for the period before taxes | 9903 | €17,120 | €15,821 | -€1,299 | -7.6% |
| Income taxes | 67/77 | €5,217 | €5,191 | -€26 | -0.5% |
| Profit (loss) for the period | 9904 | €11,903 | €10,630 | -€1,273 | -10.7% |
| Profit (loss) for the period to be appropriated | 9905 | €11,903 | €10,630 | -€1,273 | -10.7% |
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 13 October 2026 via checked.be.