LVHW: 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.
LVHW
Largest movements
- Cash +€4,385
up €4,385 (+7.7%), from €57,274 to €61,659
mainly Net result for the year (+€37,062) and Trade debts (+€3,254)
- Deferred charges and accrued income +€4,067
up €4,067 (+193%), from €2,107 to €6,174
- Tangible fixed assets -€2,203
down €2,203 (-20.0%), from €11,017 to €8,814
of which Furniture and vehicles: -€1,518
- Receivables within one year -€2,180
down €2,180 (-67.5%), from €3,231 to €1,050
of which Other amounts receivable: -€2,093
- Trade debts +€3,254
up €3,254 (+9,083%), from €36 to €3,290
- Other debts +€1,582
up €1,582 (+4.5%), from €35,481 to €37,062
- Taxes -€1,302
down €1,302 (-11.4%), from €11,393 to €10,091
- Other operating charges -€659
down €659 (-40.6%), from €1,622 to €963
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 | €73,629 | €77,697 | +€4,068 | +5.5% |
| Fixed assets | 21/28 | €11,017 | €8,814 | -€2,203 | -20.0% |
| Tangible fixed assets | 22/27 | €11,017 | €8,814 | -€2,203 | -20.0% |
| Furniture and vehicles | 24 | €5,532 | €4,014 | -€1,518 | -27.4% |
| Other tangible fixed assets | 26 | €5,485 | €4,800 | -€686 | -12.5% |
| Current assets | 29/58 | €62,612 | €68,883 | +€6,271 | +10.0% |
| Amounts receivable within one year | 40/41 | €3,231 | €1,050 | -€2,180 | -67.5% |
| Trade receivables | 40 | €123 | €37 | -€87 | -70.4% |
| Other amounts receivable | 41 | €3,107 | €1,014 | -€2,093 | -67.4% |
| Cash at bank and in hand | 54/58 | €57,274 | €61,659 | +€4,385 | +7.7% |
| Deferred charges and accrued income | 490/1 | €2,107 | €6,174 | +€4,067 | +193% |
| Total equity and liabilities | 10/49 | €73,629 | €77,697 | +€4,068 | +5.5% |
| Equity | 10/15 | €35,227 | €35,227 | = | 0.0% |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Reserves | 13 | €33,727 | €33,727 | = | 0.0% |
| Distributable reserves | 133 | €33,727 | €33,727 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €38,402 | €42,470 | +€4,068 | +10.6% |
| Amounts payable within one year | 42/48 | €38,402 | €42,470 | +€4,068 | +10.6% |
| Trade debts | 44 | €36 | €3,290 | +€3,254 | +9,083% |
| Suppliers | 440/4 | €36 | €3,290 | +€3,254 | +9,083% |
| Taxes, remuneration and social security | 45 | €2,886 | €2,118 | -€768 | -26.6% |
| Taxes | 450/3 | €2,886 | €2,118 | -€768 | -26.6% |
| Other amounts payable | 47/48 | €35,481 | €37,062 | +€1,582 | +4.5% |
| Non-recurring operating income | 76A | - | €5,965 | +€5,965 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,203 | €2,203 | = | 0.0% |
| Other operating charges | 640/8 | €1,622 | €963 | -€659 | -40.6% |
| Gross operating margin | 9900 | €50,554 | €50,366 | -€187 | -0.4% |
| Operating profit (loss) | 9901 | €46,729 | €47,200 | +€472 | +1.0% |
| Financial income | 75/76B | €0 | €8 | +€8 | |
| Recurring financial income | 75 | €0 | €8 | +€8 | |
| Financial charges | 65/66B | €61 | €55 | -€6 | -9.4% |
| Recurring financial charges | 65 | €61 | €55 | -€6 | -9.4% |
| Profit (loss) for the period before taxes | 9903 | €46,667 | €47,153 | +€485 | +1.0% |
| Income taxes | 67/77 | €11,393 | €10,091 | -€1,302 | -11.4% |
| Profit (loss) for the period | 9904 | €35,275 | €37,062 | +€1,788 | +5.1% |
| Profit (loss) for the period to be appropriated | 9905 | €35,275 | €37,062 | +€1,788 | +5.1% |
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 21 October 2026 via checked.be.