LVE: what changed
Two fiscal 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.
LVE
Largest movements
- Receivables within one year +€45,692
up €45,692 (+23.0%), from €198,458 to €244,150
of which Trade receivables: +€32,793
- Receivables after one year +€16,223
up €16,223 (+5.5%), from €295,395 to €311,618
- Deferred charges and accrued income -€16,223
no longer reported in 2024 (was €16,223)
- Cash +€15,600
up €15,600 (+2733.7%), from €571 to €16,170
mainly Tax, wage and social debts (+€101,352) and Net result for the year (+€65,346)
- Tax, wage and social debts +€101,352
up €101,352 (+122.6%), from €82,658 to €184,010
of which Taxes: +€97,632
- Trade debts -€73,624
no longer reported in 2024 (was €73,624)
- Reserves +€65,346
up €65,346 (+15.0%), from €434,880 to €500,225
- Debts after one year -€29,018
down €29,018 (-7.9%), from €365,470 to €336,452
- Gross operating margin +€48,580
up €48,580 (+11.7%), from €416,817 to €465,397
- Staff costs +€22,872
up €22,872 (+8.0%), from €284,377 to €307,249
- Taxes +€13,301
up €13,301 (+55.2%), from €24,107 to €37,407
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,054,137 | €1,114,424 | +€60,287 | +5.7% |
| Fixed assets | 21/28 | €436,549 | €435,545 | -€1,004 | -0.2% |
| Tangible fixed assets | 22/27 | €436,049 | €435,045 | -€1,004 | -0.2% |
| Land and buildings | 22 | €435,654 | €410,133 | -€25,521 | -5.9% |
| Plant, machinery and equipment | 23 | €395 | €15,199 | +€14,805 | +3752.6% |
| Furniture and vehicles | 24 | - | €9,712 | +€9,712 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €617,588 | €678,880 | +€61,291 | +9.9% |
| Amounts receivable after more than one year | 29 | €295,395 | €311,618 | +€16,223 | +5.5% |
| Other amounts receivable | 291 | €295,395 | €311,618 | +€16,223 | +5.5% |
| Stocks and contracts in progress | 3 | €106,942 | €106,942 | = | 0.0% |
| Stocks | 30/36 | €106,942 | €106,942 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €198,458 | €244,150 | +€45,692 | +23.0% |
| Trade receivables | 40 | €191,493 | €224,286 | +€32,793 | +17.1% |
| Other amounts receivable | 41 | €6,965 | €19,864 | +€12,899 | +185.2% |
| Cash at bank and in hand | 54/58 | €571 | €16,170 | +€15,600 | +2733.7% |
| Deferred charges and accrued income | 490/1 | €16,223 | - | -€16,223 | |
| Total equity and liabilities | 10/49 | €1,054,137 | €1,114,424 | +€60,287 | +5.7% |
| Equity | 10/15 | €452,180 | €517,525 | +€65,346 | +14.5% |
| Contributions | 10/11 | €17,300 | €17,300 | = | 0.0% |
| Reserves | 13 | €434,880 | €500,225 | +€65,346 | +15.0% |
| Distributable reserves | 133 | €434,880 | €500,225 | +€65,346 | +15.0% |
| Amounts payable | 17/49 | €601,957 | €596,899 | -€5,058 | -0.8% |
| Amounts payable after more than one year | 17 | €365,470 | €336,452 | -€29,018 | -7.9% |
| Financial debts | 170/4 | €365,470 | €336,452 | -€29,018 | -7.9% |
| Amounts payable within one year | 42/48 | €236,487 | €260,447 | +€23,960 | +10.1% |
| Current portion of amounts payable after more than one year | 42 | €54,006 | €44,404 | -€9,602 | -17.8% |
| Financial debts | 43 | €26,198 | €24,235 | -€1,963 | -7.5% |
| Credit institutions | 430/8 | €26,198 | €24,235 | -€1,963 | -7.5% |
| Trade debts | 44 | €73,624 | - | -€73,624 | |
| Suppliers | 440/4 | €73,624 | - | -€73,624 | |
| Taxes, remuneration and social security | 45 | €82,658 | €184,010 | +€101,352 | +122.6% |
| Taxes | 450/3 | €69,138 | €166,771 | +€97,632 | +141.2% |
| Remuneration and social security | 454/9 | €13,520 | €17,239 | +€3,719 | +27.5% |
| Other amounts payable | 47/48 | - | €7,798 | +€7,798 | |
| Remuneration, social security and pensions | 62 | €284,377 | €307,249 | +€22,872 | +8.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,015 | €29,581 | +€567 | +2.0% |
| Other operating charges | 640/8 | €6,815 | €5,189 | -€1,627 | -23.9% |
| Gross operating margin | 9900 | €416,817 | €465,397 | +€48,580 | +11.7% |
| Operating profit (loss) | 9901 | €96,610 | €123,378 | +€26,768 | +27.7% |
| Financial income | 75/76B | €2,955 | €1,603 | -€1,352 | -45.8% |
| Recurring financial income | 75 | €2,955 | €1,603 | -€1,352 | -45.8% |
| Financial charges | 65/66B | €24,764 | €22,229 | -€2,536 | -10.2% |
| Recurring financial charges | 65 | €24,764 | €22,229 | -€2,536 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | €74,801 | €102,753 | +€27,952 | +37.4% |
| Income taxes | 67/77 | €24,107 | €37,407 | +€13,301 | +55.2% |
| Profit (loss) for the period | 9904 | €50,694 | €65,346 | +€14,651 | +28.9% |
| Profit (loss) for the period to be appropriated | 9905 | €50,694 | €65,346 | +€14,651 | +28.9% |
Source: filed annual accounts (NBB), fiscal years ended 30 November 2023 and 30 November 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.