LVF MANAGEMENT: 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.
LVF MANAGEMENT
Largest movements
- Receivables within one year +€9,720
up €9,720 (+1,033%), from €941 to €10,661
of which Trade receivables: +€10,625
- Cash -€7,576
down €7,576 (-16.8%), from €45,100 to €37,524
mainly Net result for the year (-€45,654) and Receivables within one year (-€9,720)
- Tangible fixed assets -€6,225
down €6,225 (-25.7%), from €24,196 to €17,972
of which Leasing and similar rights: -€7,884
- Profit (loss) carried forward -€45,654
down €45,654 (-87.5%), from €52,205 to €6,550
- Debts after one year +€41,724
up €41,724 (+10.3%), from €405,626 to €447,350
of which Other amounts payable: +€49,236
- Financial charges +€22,159
up €22,159 (+43.3%), from €51,156 to €73,315
- Gross operating margin -€6,509
down €6,509 (-14.7%), from €44,181 to €37,672
- Other operating charges -€638
down €638 (-41.7%), from €1,529 to €891
- Depreciation -€560
down €560 (-6.1%), from €9,117 to €8,557
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 | €520,237 | €516,156 | -€4,081 | -0.8% |
| Fixed assets | 21/28 | €474,196 | €467,972 | -€6,225 | -1.3% |
| Tangible fixed assets | 22/27 | €24,196 | €17,972 | -€6,225 | -25.7% |
| Plant, machinery and equipment | 23 | - | €2,312 | +€2,312 | |
| Furniture and vehicles | 24 | €652 | €0 | -€652 | -100% |
| Leasing and similar rights | 25 | €23,544 | €15,660 | -€7,884 | -33.5% |
| Financial fixed assets | 28 | €450,000 | €450,000 | = | 0.0% |
| Current assets | 29/58 | €46,040 | €48,185 | +€2,144 | +4.7% |
| Amounts receivable within one year | 40/41 | €941 | €10,661 | +€9,720 | +1,033% |
| Trade receivables | 40 | €0 | €10,625 | +€10,625 | |
| Other amounts receivable | 41 | €941 | €36 | -€905 | -96.2% |
| Cash at bank and in hand | 54/58 | €45,100 | €37,524 | -€7,576 | -16.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €520,237 | €516,156 | -€4,081 | -0.8% |
| Equity | 10/15 | €62,205 | €16,550 | -€45,654 | -73.4% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €52,205 | €6,550 | -€45,654 | -87.5% |
| Amounts payable | 17/49 | €458,032 | €499,606 | +€41,574 | +9.1% |
| Amounts payable after more than one year | 17 | €405,626 | €447,350 | +€41,724 | +10.3% |
| Financial debts | 170/4 | €14,682 | €7,169 | -€7,512 | -51.2% |
| Other amounts payable | 178/9 | €390,944 | €440,181 | +€49,236 | +12.6% |
| Amounts payable within one year | 42/48 | €52,406 | €52,256 | -€150 | -0.3% |
| Current portion of amounts payable after more than one year | 42 | €7,203 | €7,512 | +€309 | +4.3% |
| Trade debts | 44 | €803 | €344 | -€459 | -57.2% |
| Suppliers | 440/4 | €803 | €344 | -€459 | -57.2% |
| Other amounts payable | 47/48 | €44,400 | €44,400 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,117 | €8,557 | -€560 | -6.1% |
| Other operating charges | 640/8 | €1,529 | €891 | -€638 | -41.7% |
| Gross operating margin | 9900 | €44,181 | €37,672 | -€6,509 | -14.7% |
| Operating profit (loss) | 9901 | €33,535 | €28,224 | -€5,311 | -15.8% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €51,156 | €73,315 | +€22,159 | +43.3% |
| Recurring financial charges | 65 | €51,156 | €73,315 | +€22,159 | +43.3% |
| Profit (loss) for the period before taxes | 9903 | -€17,621 | -€45,090 | -€27,470 | -156% |
| Income taxes | 67/77 | €559 | €564 | +€5 | +0.8% |
| Profit (loss) for the period | 9904 | -€18,180 | -€45,654 | -€27,474 | -151% |
| Profit (loss) for the period to be appropriated | 9905 | -€18,180 | -€45,654 | -€27,474 | -151% |
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 28 October 2026 via checked.be.