LVLM RETAIL: 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.
LVLM RETAIL
Largest movements
- Stocks and contracts -€52,014
down €52,014 (-9.6%), from €542,705 to €490,690
- Intangible fixed assets -€27,500
no longer reported in 2026 (was €27,500)
- Cash +€13,457
up €13,457 (+75.7%), from €17,768 to €31,226
mainly Trade debts (+€67,411) and Stocks and contracts (+€52,014)
- Tangible fixed assets -€12,313
down €12,313 (-31.1%), from €39,577 to €27,263
- Profit (loss) carried forward -€105,470
down €105,470 (-57.7%), from -€182,650 to -€288,120
- Trade debts +€67,411
up €67,411 (+15.8%), from €425,444 to €492,855
- Current portion of long-term debt -€44,007
down €44,007 (-91.6%), from €48,039 to €4,032
- Other debts +€30,174
up €30,174 (+15.4%), from €196,531 to €226,706
- Tax, wage and social debts -€18,571
down €18,571 (-49.8%), from €37,276 to €18,705
of which Remuneration and social security: -€21,080
- Staff costs -€30,171
down €30,171 (-11.6%), from €260,142 to €229,971
- Other operating charges -€9,823
no longer reported in 2026 (was €9,823)
- Financial charges -€7,845
down €7,845 (-73.7%), from €10,640 to €2,795
- Write-downs -€4,212
down €4,212 (-30.0%), from €14,061 to €9,849
- Depreciation -€3,169
down €3,169 (-7.4%), from €42,983 to €39,813
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.
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.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €703,387 | €632,925 | -€70,462 | -10.0% |
| Fixed assets | 21/28 | €67,077 | €27,263 | -€39,813 | -59.4% |
| Intangible fixed assets | 21 | €27,500 | - | -€27,500 | |
| Tangible fixed assets | 22/27 | €39,577 | €27,263 | -€12,313 | -31.1% |
| Land and buildings | 22 | €28,194 | €22,564 | -€5,630 | -20.0% |
| Plant, machinery and equipment | 23 | €4,309 | €3,289 | -€1,020 | -23.7% |
| Furniture and vehicles | 24 | €7,073 | €1,410 | -€5,663 | -80.1% |
| Current assets | 29/58 | €636,310 | €605,661 | -€30,649 | -4.8% |
| Stocks and contracts in progress | 3 | €542,705 | €490,690 | -€52,014 | -9.6% |
| Stocks | 30/36 | €542,705 | €490,690 | -€52,014 | -9.6% |
| Amounts receivable within one year | 40/41 | €73,002 | €78,067 | +€5,065 | +6.9% |
| Trade receivables | 40 | €68,260 | €73,325 | +€5,065 | +7.4% |
| Other amounts receivable | 41 | €4,742 | €4,742 | = | 0.0% |
| Current investments | 50/53 | €1 | €3,004 | +€3,004 | +589,010% |
| Cash at bank and in hand | 54/58 | €17,768 | €31,226 | +€13,457 | +75.7% |
| Deferred charges and accrued income | 490/1 | €2,835 | €2,674 | -€161 | -5.7% |
| Total equity and liabilities | 10/49 | €703,387 | €632,925 | -€70,462 | -10.0% |
| Equity | 10/15 | -€129,341 | -€234,811 | -€105,470 | -81.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Contributions outside capital | 11 | €50,000 | €50,000 | = | 0.0% |
| Share premium | 1100/10 | €50,000 | €50,000 | = | 0.0% |
| Reserves | 13 | €3,309 | €3,309 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,309 | €3,309 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,309 | €3,309 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€182,650 | -€288,120 | -€105,470 | -57.7% |
| Amounts payable | 17/49 | €832,728 | €867,736 | +€35,008 | +4.2% |
| Amounts payable after more than one year | 17 | €125,438 | €125,438 | = | 0.0% |
| Financial debts | 170/4 | €125,438 | €125,438 | = | 0.0% |
| Amounts payable within one year | 42/48 | €707,290 | €742,298 | +€35,008 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €48,039 | €4,032 | -€44,007 | -91.6% |
| Trade debts | 44 | €425,444 | €492,855 | +€67,411 | +15.8% |
| Suppliers | 440/4 | €425,444 | €492,855 | +€67,411 | +15.8% |
| Taxes, remuneration and social security | 45 | €37,276 | €18,705 | -€18,571 | -49.8% |
| Taxes | 450/3 | €8,119 | €10,629 | +€2,510 | +30.9% |
| Remuneration and social security | 454/9 | €29,157 | €8,076 | -€21,080 | -72.3% |
| Other amounts payable | 47/48 | €196,531 | €226,706 | +€30,174 | +15.4% |
| Remuneration, social security and pensions | 62 | €260,142 | €229,971 | -€30,171 | -11.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,983 | €39,813 | -€3,169 | -7.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €14,061 | €9,849 | -€4,212 | -30.0% |
| Other operating charges | 640/8 | €9,823 | - | -€9,823 | |
| Gross operating margin | 9900 | €174,811 | €177,090 | +€2,279 | +1.3% |
| Operating profit (loss) | 9901 | -€152,197 | -€102,544 | +€49,653 | +32.6% |
| Financial income | 75/76B | - | €10 | +€10 | |
| Recurring financial income | 75 | - | €10 | +€10 | |
| Financial charges | 65/66B | €10,640 | €2,795 | -€7,845 | -73.7% |
| Recurring financial charges | 65 | €10,640 | €2,795 | -€7,845 | -73.7% |
| Profit (loss) for the period before taxes | 9903 | -€162,837 | -€105,329 | +€57,508 | +35.3% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€162,977 | -€105,470 | +€57,507 | +35.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€162,977 | -€105,470 | +€57,507 | +35.3% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.