LVH TRADING: 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.
LVH TRADING
Largest movements
- Financial fixed assets +€400,000
new in 2026: €400,000
- Cash -€246,632
down €246,632 (-60.0%), from €410,911 to €164,279
mainly Investment in fixed assets (net) (-€400,001) and Current portion of long-term debt (-€3,763)
- Receivables within one year -€45,292
down €45,292 (-68.0%), from €66,624 to €21,332
of which Other amounts receivable: -€46,572
- Tangible fixed assets -€29,295
down €29,295 (-7.7%), from €380,012 to €350,717
- Profit (loss) carried forward +€81,073
up €81,073 (+9.7%), from €834,935 to €916,008
- Gross operating margin +€24,634
up €24,634 (+26.5%), from €93,120 to €117,754
- Depreciation -€4,152
down €4,152 (-12.4%), from €33,448 to €29,296
- Taxes +€4,060
up €4,060 (+119%), from €3,421 to €7,481
- Financial income +€2,051
up €2,051 (+126%), from €1,634 to €3,685
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €857,547 | €936,328 | +€78,781 | +9.2% |
| Fixed assets | 21/28 | €380,012 | €750,717 | +€370,705 | +97.6% |
| Tangible fixed assets | 22/27 | €380,012 | €350,717 | -€29,295 | -7.7% |
| Land and buildings | 22 | €380,012 | €350,717 | -€29,295 | -7.7% |
| Financial fixed assets | 28 | - | €400,000 | +€400,000 | |
| Current assets | 29/58 | €477,535 | €185,611 | -€291,924 | -61.1% |
| Amounts receivable within one year | 40/41 | €66,624 | €21,332 | -€45,292 | -68.0% |
| Trade receivables | 40 | €18,661 | €19,941 | +€1,280 | +6.9% |
| Other amounts receivable | 41 | €47,963 | €1,391 | -€46,572 | -97.1% |
| Cash at bank and in hand | 54/58 | €410,911 | €164,279 | -€246,632 | -60.0% |
| Total equity and liabilities | 10/49 | €857,547 | €936,328 | +€78,781 | +9.2% |
| Equity | 10/15 | €845,461 | €926,534 | +€81,073 | +9.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €4,326 | €4,326 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,326 | €4,326 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Other | 1319 | €2,466 | €2,466 | = | 0.0% |
| Profit (loss) carried forward | 14 | €834,935 | €916,008 | +€81,073 | +9.7% |
| Amounts payable | 17/49 | €12,086 | €9,794 | -€2,292 | -19.0% |
| Amounts payable within one year | 42/48 | €12,086 | €9,794 | -€2,292 | -19.0% |
| Current portion of amounts payable after more than one year | 42 | €3,763 | - | -€3,763 | |
| Trade debts | 44 | - | €712 | +€712 | |
| Suppliers | 440/4 | - | €712 | +€712 | |
| Taxes, remuneration and social security | 45 | €8,323 | €9,082 | +€759 | +9.1% |
| Taxes | 450/3 | €8,323 | €9,082 | +€759 | +9.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,448 | €29,296 | -€4,152 | -12.4% |
| Other operating charges | 640/8 | €3,786 | €3,377 | -€409 | -10.8% |
| Gross operating margin | 9900 | €93,120 | €117,754 | +€24,634 | +26.5% |
| Operating profit (loss) | 9901 | €55,886 | €85,081 | +€29,195 | +52.2% |
| Financial income | 75/76B | €1,634 | €3,685 | +€2,051 | +126% |
| Recurring financial income | 75 | €1,634 | €3,685 | +€2,051 | +126% |
| Financial charges | 65/66B | €206 | €212 | +€6 | +2.9% |
| Recurring financial charges | 65 | €206 | €212 | +€6 | +2.9% |
| Profit (loss) for the period before taxes | 9903 | €57,314 | €88,554 | +€31,240 | +54.5% |
| Income taxes | 67/77 | €3,421 | €7,481 | +€4,060 | +119% |
| Profit (loss) for the period | 9904 | €53,893 | €81,073 | +€27,180 | +50.4% |
| Profit (loss) for the period to be appropriated | 9905 | €53,893 | €81,073 | +€27,180 | +50.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.