LVL: 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.
LVL
Largest movements
No asset line moved by more than 1% of the balance sheet total.
- Current portion of long-term debt -€13,898
down €13,898 (-73.1%), from €19,001 to €5,103
- Reserves +€12,280
up €12,280 (+16.2%), from €75,816 to €88,097
of which Distributable reserves: +€14,140
- Debts after one year -€5,103
down €5,103 (-38.7%), from €13,201 to €8,098
- Other debts +€3,216
up €3,216 (+2.2%), from €146,994 to €150,211
- Trade debts +€3,067
up €3,067 (+33.0%), from €9,294 to €12,361
- Gross operating margin +€6,449
up €6,449 (+40.1%), from €16,092 to €22,541
- Financial charges +€2,446
up €2,446 (+81.5%), from €3,000 to €5,447
- Taxes +€829
up €829 (+22.5%), from €3,681 to €4,510
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 | €295,904 | €294,841 | -€1,063 | -0.4% |
| Fixed assets | 21/28 | €294,355 | €294,355 | = | 0.0% |
| Financial fixed assets | 28 | €294,355 | €294,355 | = | 0.0% |
| Current assets | 29/58 | €1,549 | €486 | -€1,063 | -68.6% |
| Amounts receivable within one year | 40/41 | €1,542 | €0 | -€1,542 | -100% |
| Trade receivables | 40 | €1,542 | €0 | -€1,542 | -100% |
| Cash at bank and in hand | 54/58 | €7 | €486 | +€479 | +6,776% |
| Total equity and liabilities | 10/49 | €295,904 | €294,841 | -€1,063 | -0.4% |
| Equity | 10/15 | €94,416 | €106,697 | +€12,280 | +13.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €75,816 | €88,097 | +€12,280 | +16.2% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €73,956 | €88,097 | +€14,140 | +19.1% |
| Amounts payable | 17/49 | €201,487 | €188,144 | -€13,343 | -6.6% |
| Amounts payable after more than one year | 17 | €13,201 | €8,098 | -€5,103 | -38.7% |
| Financial debts | 170/4 | €13,201 | €8,098 | -€5,103 | -38.7% |
| Amounts payable within one year | 42/48 | €187,928 | €180,044 | -€7,884 | -4.2% |
| Current portion of amounts payable after more than one year | 42 | €19,001 | €5,103 | -€13,898 | -73.1% |
| Financial debts | 43 | €1,163 | €1,189 | +€26 | +2.2% |
| Credit institutions | 430/8 | €1,163 | €0 | -€1,163 | -100% |
| Other loans | 439 | - | €1,189 | +€1,189 | |
| Trade debts | 44 | €9,294 | €12,361 | +€3,067 | +33.0% |
| Suppliers | 440/4 | €9,294 | €12,361 | +€3,067 | +33.0% |
| Taxes, remuneration and social security | 45 | €11,476 | €11,180 | -€296 | -2.6% |
| Taxes | 450/3 | €11,476 | €11,180 | -€296 | -2.6% |
| Other amounts payable | 47/48 | €146,994 | €150,211 | +€3,216 | +2.2% |
| Accrued charges and deferred income | 492/3 | €359 | €2 | -€356 | -99.4% |
| Other operating charges | 640/8 | €461 | €304 | -€157 | -34.0% |
| Gross operating margin | 9900 | €16,092 | €22,541 | +€6,449 | +40.1% |
| Operating profit (loss) | 9901 | €15,632 | €22,237 | +€6,605 | +42.3% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €3,000 | €5,447 | +€2,446 | +81.5% |
| Recurring financial charges | 65 | €3,000 | €5,447 | +€2,446 | +81.5% |
| Profit (loss) for the period before taxes | 9903 | €12,631 | €16,790 | +€4,159 | +32.9% |
| Income taxes | 67/77 | €3,681 | €4,510 | +€829 | +22.5% |
| Profit (loss) for the period | 9904 | €8,951 | €12,280 | +€3,330 | +37.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,951 | €12,280 | +€3,330 | +37.2% |
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 16 October 2026 via checked.be.