LVDW Consult: 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.
LVDW Consult
Largest movements
- Receivables within one year +€54,647
up €54,647 (+22.1%), from €247,630 to €302,276
of which Other amounts receivable: +€45,261
- Cash -€19,005
down €19,005 (-30.5%), from €62,290 to €43,286
mainly Receivables within one year (-€54,647) and Investment in fixed assets (net) (-€10,279)
- Tangible fixed assets +€6,854
up €6,854 (+57.0%), from €12,033 to €18,887
of which Other tangible fixed assets: +€8,244
- Reserves +€36,350
up €36,350 (+13.0%), from €280,271 to €316,620
- Gross operating margin +€11,020
up €11,020 (+23.1%), from €47,694 to €58,714
- Taxes +€3,368
up €3,368 (+22.7%), from €14,820 to €18,188
- Financial charges +€2,188
up €2,188 (+67.5%), from €3,243 to €5,431
- Financial income +€1,528
up €1,528 (+26.9%), from €5,690 to €7,218
- Depreciation +€743
up €743 (+27.7%), from €2,683 to €3,425
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 | €350,876 | €390,767 | +€39,891 | +11.4% |
| Fixed assets | 21/28 | €12,033 | €18,887 | +€6,854 | +57.0% |
| Tangible fixed assets | 22/27 | €12,033 | €18,887 | +€6,854 | +57.0% |
| Plant, machinery and equipment | 23 | €1,861 | €932 | -€930 | -49.9% |
| Furniture and vehicles | 24 | €3,665 | €3,204 | -€461 | -12.6% |
| Other tangible fixed assets | 26 | €6,507 | €14,751 | +€8,244 | +127% |
| Current assets | 29/58 | €338,843 | €371,880 | +€33,038 | +9.8% |
| Stocks and contracts in progress | 3 | €1,408 | €1,536 | +€128 | +9.1% |
| Stocks | 30/36 | €1,408 | €1,536 | +€128 | +9.1% |
| Amounts receivable within one year | 40/41 | €247,630 | €302,276 | +€54,647 | +22.1% |
| Trade receivables | 40 | €5,913 | €15,298 | +€9,385 | +159% |
| Other amounts receivable | 41 | €241,717 | €286,978 | +€45,261 | +18.7% |
| Cash at bank and in hand | 54/58 | €62,290 | €43,286 | -€19,005 | -30.5% |
| Deferred charges and accrued income | 490/1 | €27,514 | €24,783 | -€2,732 | -9.9% |
| Total equity and liabilities | 10/49 | €350,876 | €390,767 | +€39,891 | +11.4% |
| Equity | 10/15 | €300,271 | €336,620 | +€36,350 | +12.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €280,271 | €316,620 | +€36,350 | +13.0% |
| Distributable reserves | 133 | €280,271 | €316,620 | +€36,350 | +13.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €50,605 | €54,147 | +€3,542 | +7.0% |
| Amounts payable within one year | 42/48 | €47,105 | €51,151 | +€4,046 | +8.6% |
| Trade debts | 44 | €1,662 | €1,257 | -€405 | -24.4% |
| Suppliers | 440/4 | €1,662 | €1,257 | -€405 | -24.4% |
| Taxes, remuneration and social security | 45 | €2,955 | €6,795 | +€3,839 | +130% |
| Taxes | 450/3 | €1,755 | €6,795 | +€5,039 | +287% |
| Remuneration and social security | 454/9 | €1,200 | €0 | -€1,200 | -100% |
| Other amounts payable | 47/48 | €42,487 | €43,099 | +€612 | +1.4% |
| Accrued charges and deferred income | 492/3 | €3,500 | €2,996 | -€504 | -14.4% |
| Non-recurring operating income | 76A | €5,820 | €0 | -€5,820 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,683 | €3,425 | +€743 | +27.7% |
| Other operating charges | 640/8 | €499 | €872 | +€373 | +74.7% |
| Gross operating margin | 9900 | €47,694 | €58,714 | +€11,020 | +23.1% |
| Operating profit (loss) | 9901 | €44,512 | €54,417 | +€9,905 | +22.3% |
| Financial income | 75/76B | €5,690 | €7,218 | +€1,528 | +26.9% |
| Recurring financial income | 75 | €5,690 | €7,218 | +€1,528 | +26.9% |
| Financial charges | 65/66B | €3,243 | €5,431 | +€2,188 | +67.5% |
| Recurring financial charges | 65 | €3,243 | €5,431 | +€2,188 | +67.5% |
| Profit (loss) for the period before taxes | 9903 | €46,959 | €56,204 | +€9,245 | +19.7% |
| Income taxes | 67/77 | €14,820 | €18,188 | +€3,368 | +22.7% |
| Profit (loss) for the period | 9904 | €32,139 | €38,016 | +€5,877 | +18.3% |
| Profit (loss) for the period to be appropriated | 9905 | €32,139 | €38,016 | +€5,877 | +18.3% |
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 22 October 2026 via checked.be.