LVincere: 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.
What changed
LVincere
NACE 70.200, Business and other management consultancy
financial year 2026 compared with 2025filed annual accounts (NBB)
Net result for the year
€5,521
2025 · -€26,810+€32,331
Equity
€483,887
2025 · €480,032+€3,855
Cash
€15,856
2025 · €7,997+€7,859
Balance sheet total
€929,592
2025 · €931,211-€1,619
Largest movements
Assets
- Tangible fixed assets -€12,796
down €12,796 (-25.9%), from €49,360 to €36,564
of which Leasing and similar rights: -€9,578
Equity and liabilities
- Debts after one year -€25,443
down €25,443 (-7.5%), from €337,171 to €311,728
of which Financial debts: -€24,443
- Tax, wage and social debts +€10,085
up €10,085 (+37.0%), from €27,282 to €37,366
of which Taxes: +€5,439
Income statement
- Gross operating margin +€33,533
up €33,533 (+28.6%), from €117,088 to €150,621
- Depreciation +€2,283
up €2,283 (+21.7%), from €10,513 to €12,796
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.
Result 2025
-€26,810
Gross operating margin
+€33,533
Staff costs
+€559
Depreciation
-€2,283
Other operating charges
-€15
Financial income
-€0
Financial charges
+€1,086
Taxes
-€550
Result 2026
€5,521
raises the resultlowers the result
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.
From operations
+€33,932
Investment
€0
Financing
-€26,072
Cash 2025
€7,997
From operations (derived)
+€33,932
Net result for the year
+€5,521
Depreciation
+€12,796
Receivables within one year
-€3,609
Deferred charges and accrued income
+€290
Trade debts
+€4,432
Tax, wage and social debts
+€10,085
Other debts
+€4,416
Financing
-€26,072
Debts after one year
-€25,443
Current portion of long-term debt
+€1,037
Contributions, distributions and other
-€1,666
Cash 2026
€15,856
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €931,211 | €929,592 | -€1,619 | -0.2% |
| Fixed assets | 21/28 | €886,480 | €873,684 | -€12,796 | -1.4% |
| Tangible fixed assets | 22/27 | €49,360 | €36,564 | -€12,796 | -25.9% |
| Plant, machinery and equipment | 23 | €7,359 | €5,512 | -€1,847 | -25.1% |
| Furniture and vehicles | 24 | €1,404 | €34 | -€1,371 | -97.6% |
| Leasing and similar rights | 25 | €40,597 | €31,019 | -€9,578 | -23.6% |
| Financial fixed assets | 28 | €837,120 | €837,120 | = | 0.0% |
| Current assets | 29/58 | €44,730 | €55,908 | +€11,178 | +25.0% |
| Amounts receivable within one year | 40/41 | €32,782 | €36,390 | +€3,609 | +11.0% |
| Trade receivables | 40 | €21,021 | €25,236 | +€4,215 | +20.1% |
| Other amounts receivable | 41 | €11,760 | €11,154 | -€606 | -5.2% |
| Cash at bank and in hand | 54/58 | €7,997 | €15,856 | +€7,859 | +98.3% |
| Deferred charges and accrued income | 490/1 | €3,952 | €3,662 | -€290 | -7.3% |
| Total equity and liabilities | 10/49 | €931,211 | €929,592 | -€1,619 | -0.2% |
| Equity | 10/15 | €480,032 | €483,887 | +€3,855 | +0.8% |
| Contributions | 10/11 | €6,446 | €6,446 | = | 0.0% |
| Reserves | 13 | €473,586 | €477,441 | +€3,855 | +0.8% |
| Tax-exempt reserves | 132 | €3,875 | €3,875 | = | 0.0% |
| Distributable reserves | 133 | €469,711 | €473,566 | +€3,855 | +0.8% |
| Amounts payable | 17/49 | €451,179 | €445,705 | -€5,473 | -1.2% |
| Amounts payable after more than one year | 17 | €337,171 | €311,728 | -€25,443 | -7.5% |
| Financial debts | 170/4 | €256,271 | €231,828 | -€24,443 | -9.5% |
| Other amounts payable | 178/9 | €80,900 | €79,900 | -€1,000 | -1.2% |
| Amounts payable within one year | 42/48 | €114,007 | €133,977 | +€19,970 | +17.5% |
| Current portion of amounts payable after more than one year | 42 | €23,406 | €24,443 | +€1,037 | +4.4% |
| Trade debts | 44 | €3,939 | €8,371 | +€4,432 | +113% |
| Suppliers | 440/4 | €3,939 | €8,371 | +€4,432 | +113% |
| Taxes, remuneration and social security | 45 | €27,282 | €37,366 | +€10,085 | +37.0% |
| Taxes | 450/3 | €7,413 | €12,851 | +€5,439 | +73.4% |
| Remuneration and social security | 454/9 | €19,869 | €24,515 | +€4,646 | +23.4% |
| Other amounts payable | 47/48 | €59,381 | €63,797 | +€4,416 | +7.4% |
| Remuneration, social security and pensions | 62 | €121,771 | €121,212 | -€559 | -0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,513 | €12,796 | +€2,283 | +21.7% |
| Other operating charges | 640/8 | €576 | €591 | +€15 | +2.6% |
| Gross operating margin | 9900 | €117,088 | €150,621 | +€33,533 | +28.6% |
| Operating profit (loss) | 9901 | -€15,773 | €16,022 | +€31,795 | |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €10,612 | €9,526 | -€1,086 | -10.2% |
| Recurring financial charges | 65 | €10,612 | €9,526 | -€1,086 | -10.2% |
| Profit (loss) for the period before taxes | 9903 | -€26,385 | €6,496 | +€32,881 | |
| Income taxes | 67/77 | €425 | €975 | +€550 | +130% |
| Profit (loss) for the period | 9904 | -€26,810 | €5,521 | +€32,331 | |
| Profit (loss) for the period to be appropriated | 9905 | -€26,810 | €5,521 | +€32,331 |
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 21 October 2026 via checked.be.