LVM²: 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.
LVM²
Largest movements
- Cash +€45,736
up €45,736 (+17.5%), from €261,782 to €307,519
mainly Net result for the year (+€51,213) and Depreciation (+€12,435)
- Tangible fixed assets -€11,418
down €11,418 (-51.3%), from €22,245 to €10,826
of which Furniture and vehicles: -€10,769
- Receivables within one year +€6,110
up €6,110 (+34.2%), from €17,891 to €24,001
of which Trade receivables: +€6,496
- Reserves +€51,213
up €51,213 (+23.1%), from €221,688 to €272,901
- Profit (loss) carried forward -€14,286
down €14,286 (-21.4%), from €66,621 to €52,335
- Gross operating margin +€13,759
up €13,759 (+18.9%), from €72,879 to €86,638
- Taxes +€3,385
up €3,385 (+19.2%), from €17,614 to €20,999
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 | €305,146 | €344,619 | +€39,472 | +12.9% |
| Fixed assets | 21/28 | €22,245 | €10,826 | -€11,418 | -51.3% |
| Tangible fixed assets | 22/27 | €22,245 | €10,826 | -€11,418 | -51.3% |
| Plant, machinery and equipment | 23 | €2,005 | €1,356 | -€649 | -32.4% |
| Furniture and vehicles | 24 | €19,329 | €8,560 | -€10,769 | -55.7% |
| Other tangible fixed assets | 26 | €911 | €911 | = | 0.0% |
| Current assets | 29/58 | €282,902 | €333,792 | +€50,891 | +18.0% |
| Amounts receivable within one year | 40/41 | €17,891 | €24,001 | +€6,110 | +34.2% |
| Trade receivables | 40 | €17,505 | €24,001 | +€6,496 | +37.1% |
| Other amounts receivable | 41 | €386 | - | -€386 | |
| Cash at bank and in hand | 54/58 | €261,782 | €307,519 | +€45,736 | +17.5% |
| Deferred charges and accrued income | 490/1 | €3,229 | €2,273 | -€956 | -29.6% |
| Total equity and liabilities | 10/49 | €305,146 | €344,619 | +€39,472 | +12.9% |
| Equity | 10/15 | €294,509 | €331,435 | +€36,927 | +12.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €221,688 | €272,901 | +€51,213 | +23.1% |
| Distributable reserves | 133 | €221,688 | €272,901 | +€51,213 | +23.1% |
| Profit (loss) carried forward | 14 | €66,621 | €52,335 | -€14,286 | -21.4% |
| Amounts payable | 17/49 | €10,638 | €13,183 | +€2,545 | +23.9% |
| Amounts payable within one year | 42/48 | €10,638 | €13,183 | +€2,545 | +23.9% |
| Trade debts | 44 | €6,701 | €6,819 | +€118 | +1.8% |
| Suppliers | 440/4 | €6,701 | €6,819 | +€118 | +1.8% |
| Taxes, remuneration and social security | 45 | €871 | €3,290 | +€2,419 | +277.6% |
| Taxes | 450/3 | €871 | €3,290 | +€2,419 | +277.6% |
| Other amounts payable | 47/48 | €3,066 | €3,074 | +€8 | +0.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,615 | €12,435 | +€820 | +7.1% |
| Other operating charges | 640/8 | €208 | €492 | +€284 | +136.6% |
| Gross operating margin | 9900 | €72,879 | €86,638 | +€13,759 | +18.9% |
| Operating profit (loss) | 9901 | €61,057 | €73,711 | +€12,654 | +20.7% |
| Financial income | 75/76B | €0 | €0 | -€0 | -90.9% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -90.9% |
| Financial charges | 65/66B | €1,633 | €1,499 | -€133 | -8.2% |
| Recurring financial charges | 65 | €1,633 | €1,499 | -€133 | -8.2% |
| Profit (loss) for the period before taxes | 9903 | €59,424 | €72,212 | +€12,788 | +21.5% |
| Income taxes | 67/77 | €17,614 | €20,999 | +€3,385 | +19.2% |
| Profit (loss) for the period | 9904 | €41,810 | €51,213 | +€9,403 | +22.5% |
| Profit (loss) for the period to be appropriated | 9905 | €41,810 | €51,213 | +€9,403 | +22.5% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.