LVL GROUP: 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 GROUP
Largest movements
- Receivables within one year -€124,001
down €124,001 (-66.7%), from €185,772 to €61,771
of which Trade receivables: -€122,910
- Stocks and contracts -€63,218
down €63,218 (-28.2%), from €224,517 to €161,298
- Cash +€17,259
up €17,259 (+1921.2%), from €898 to €18,157
mainly Debts after one year (+€235,474) and Receivables within one year (+€124,001)
- Intangible fixed assets +€5,804
new in 2025: €5,804
- Profit (loss) carried forward -€409,924
down €409,924 (-597.7%), from -€68,584 to -€478,508
- Debts after one year +€235,474
up €235,474 (+436.9%), from €53,894 to €289,368
- Trade debts -€67,622
down €67,622 (-95.7%), from €70,677 to €3,055
- Current portion of long-term debt +€54,577
up €54,577 (+181.3%), from €30,109 to €84,685
- Contributions +€50,000
up €50,000 (+23.1%), from €216,550 to €266,550
- Gross operating margin -€414,902
down €414,902, from €35,054 to -€379,848
- Financial charges +€8,245
up €8,245 (+129.3%), from €6,378 to €14,622
- Depreciation -€4,084
down €4,084 (-23.2%), from €17,636 to €13,552
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.
Cash bridge derived
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 | €425,210 | €259,739 | -€165,471 | -38.9% |
| Fixed assets | 21/28 | €14,022 | €18,512 | +€4,490 | +32.0% |
| Intangible fixed assets | 21 | - | €5,804 | +€5,804 | |
| Tangible fixed assets | 22/27 | €14,022 | €12,708 | -€1,314 | -9.4% |
| Plant, machinery and equipment | 23 | €9,655 | €11,634 | +€1,978 | +20.5% |
| Furniture and vehicles | 24 | €4,367 | €1,075 | -€3,292 | -75.4% |
| Current assets | 29/58 | €411,187 | €241,227 | -€169,961 | -41.3% |
| Stocks and contracts in progress | 3 | €224,517 | €161,298 | -€63,218 | -28.2% |
| Stocks | 30/36 | €224,517 | €161,298 | -€63,218 | -28.2% |
| Amounts receivable within one year | 40/41 | €185,772 | €61,771 | -€124,001 | -66.7% |
| Trade receivables | 40 | €184,681 | €61,771 | -€122,910 | -66.6% |
| Other amounts receivable | 41 | €1,092 | - | -€1,092 | |
| Cash at bank and in hand | 54/58 | €898 | €18,157 | +€17,259 | +1921.2% |
| Total equity and liabilities | 10/49 | €425,210 | €259,739 | -€165,471 | -38.9% |
| Equity | 10/15 | €147,966 | -€211,958 | -€359,924 | |
| Contributions | 10/11 | €216,550 | €266,550 | +€50,000 | +23.1% |
| Profit (loss) carried forward | 14 | -€68,584 | -€478,508 | -€409,924 | -597.7% |
| Amounts payable | 17/49 | €277,244 | €471,697 | +€194,453 | +70.1% |
| Amounts payable after more than one year | 17 | €53,894 | €289,368 | +€235,474 | +436.9% |
| Financial debts | 170/4 | €53,894 | €289,368 | +€235,474 | +436.9% |
| Amounts payable within one year | 42/48 | €223,350 | €182,329 | -€41,021 | -18.4% |
| Current portion of amounts payable after more than one year | 42 | €30,109 | €84,685 | +€54,577 | +181.3% |
| Financial debts | 43 | €18,471 | - | -€18,471 | |
| Credit institutions | 430/8 | €18,471 | - | -€18,471 | |
| Trade debts | 44 | €70,677 | €3,055 | -€67,622 | -95.7% |
| Suppliers | 440/4 | €70,677 | €3,055 | -€67,622 | -95.7% |
| Taxes, remuneration and social security | 45 | €13,151 | €16,673 | +€3,522 | +26.8% |
| Taxes | 450/3 | €13,151 | €8,284 | -€4,867 | -37.0% |
| Remuneration and social security | 454/9 | - | €8,389 | +€8,389 | |
| Other amounts payable | 47/48 | €90,941 | €77,916 | -€13,025 | -14.3% |
| Remuneration, social security and pensions | 62 | - | €1,658 | +€1,658 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,636 | €13,552 | -€4,084 | -23.2% |
| Other operating charges | 640/8 | - | €496 | +€496 | |
| Gross operating margin | 9900 | €35,054 | -€379,848 | -€414,902 | |
| Operating profit (loss) | 9901 | €17,418 | -€395,554 | -€412,972 | |
| Financial income | 75/76B | - | €253 | +€253 | |
| Recurring financial income | 75 | - | €253 | +€253 | |
| Financial charges | 65/66B | €6,378 | €14,622 | +€8,245 | +129.3% |
| Recurring financial charges | 65 | €6,378 | €14,622 | +€8,245 | +129.3% |
| Profit (loss) for the period before taxes | 9903 | €11,040 | -€409,924 | -€420,964 | |
| Profit (loss) for the period | 9904 | €11,040 | -€409,924 | -€420,964 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,040 | -€409,924 | -€420,964 |
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 10 October 2026 via checked.be.