LVHT: 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.
LVHT
Largest movements
- Tangible fixed assets +€21,609
up €21,609 (+4.9%), from €443,279 to €464,888
of which Land and buildings: +€42,162
- Receivables within one year +€10,419
up €10,419 (+65.8%), from €15,837 to €26,257
of which Trade receivables: +€10,419
- Debts after one year +€52,630
up €52,630 (+14.3%), from €368,332 to €420,962
- Current portion of long-term debt +€25,335
up €25,335 (+281%), from €9,016 to €34,351
- Trade debts -€23,079
down €23,079 (-52.6%), from €43,879 to €20,800
- Profit (loss) carried forward -€11,409
down €11,409 (-38.5%), from -€29,652 to -€41,061
- Tax, wage and social debts -€7,935
down €7,935 (-61.3%), from €12,937 to €5,002
- Depreciation -€32,382
down €32,382 (-52.9%), from €61,193 to €28,811
- Financial charges +€13,885
up €13,885 (+480%), from €2,894 to €16,779
- Purchases and services -€7,217
down €7,217 (-11.3%), from €63,879 to €56,663
- Turnover -€5,513
down €5,513 (-5.7%), from €96,570 to €91,057
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 | €462,913 | €496,639 | +€33,726 | +7.3% |
| Fixed assets | 21/28 | €443,279 | €464,888 | +€21,609 | +4.9% |
| Tangible fixed assets | 22/27 | €443,279 | €464,888 | +€21,609 | +4.9% |
| Land and buildings | 22 | €403,232 | €445,395 | +€42,162 | +10.5% |
| Furniture and vehicles | 24 | €40,046 | €19,493 | -€20,553 | -51.3% |
| Current assets | 29/58 | €19,634 | €31,751 | +€12,117 | +61.7% |
| Amounts receivable within one year | 40/41 | €15,837 | €26,257 | +€10,419 | +65.8% |
| Trade receivables | 40 | €9,737 | €20,157 | +€10,419 | +107% |
| Other amounts receivable | 41 | €6,100 | €6,100 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €3,797 | €5,494 | +€1,698 | +44.7% |
| Total equity and liabilities | 10/49 | €462,913 | €496,639 | +€33,726 | +7.3% |
| Equity | 10/15 | €6,302 | -€5,107 | -€11,409 | |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €15,954 | €15,954 | = | 0.0% |
| Distributable reserves | 133 | €15,954 | €15,954 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€29,652 | -€41,061 | -€11,409 | -38.5% |
| Amounts payable | 17/49 | €456,611 | €501,745 | +€45,135 | +9.9% |
| Amounts payable after more than one year | 17 | €368,332 | €420,962 | +€52,630 | +14.3% |
| Financial debts | 170/4 | €368,332 | €420,962 | +€52,630 | +14.3% |
| Amounts payable within one year | 42/48 | €87,961 | €80,358 | -€7,603 | -8.6% |
| Current portion of amounts payable after more than one year | 42 | €9,016 | €34,351 | +€25,335 | +281% |
| Trade debts | 44 | €43,879 | €20,800 | -€23,079 | -52.6% |
| Suppliers | 440/4 | €43,879 | €20,800 | -€23,079 | -52.6% |
| Taxes, remuneration and social security | 45 | €12,937 | €5,002 | -€7,935 | -61.3% |
| Taxes | 450/3 | €12,937 | €5,002 | -€7,935 | -61.3% |
| Other amounts payable | 47/48 | €22,130 | €20,205 | -€1,924 | -8.7% |
| Accrued charges and deferred income | 492/3 | €318 | €426 | +€108 | +33.8% |
| Turnover | 70 | €96,570 | €91,057 | -€5,513 | -5.7% |
| Goods, raw materials, services and sundry goods | 60/61 | €63,879 | €56,663 | -€7,217 | -11.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €61,193 | €28,811 | -€32,382 | -52.9% |
| Other operating charges | 640/8 | €1,356 | €1,893 | +€536 | +39.5% |
| Gross operating margin | 9900 | €35,937 | €36,210 | +€273 | +0.8% |
| Operating profit (loss) | 9901 | -€26,613 | €5,507 | +€32,120 | |
| Financial charges | 65/66B | €2,894 | €16,779 | +€13,885 | +480% |
| Recurring financial charges | 65 | €2,894 | €16,779 | +€13,885 | +480% |
| Profit (loss) for the period before taxes | 9903 | -€29,507 | -€11,272 | +€18,235 | +61.8% |
| Income taxes | 67/77 | €145 | €137 | -€9 | -6.0% |
| Profit (loss) for the period | 9904 | -€29,652 | -€11,409 | +€18,243 | +61.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€29,652 | -€11,409 | +€18,243 | +61.5% |
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 25 October 2026 via checked.be.