LVM holdco: 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.
LVM holdco
Largest movements
- Cash +€160,936
up €160,936 (+2,609%), from €6,169 to €167,106
mainly Current investments (+€120,000) and Net result for the year (+€34,706)
- Current investments -€120,000
down €120,000 (-100%), from €120,000 to €0
- Tangible fixed assets +€7,107
new in 2025: €7,107
- Reserves +€21,956
up €21,956 (+21.0%), from €104,553 to €126,509
- Tax, wage and social debts +€15,762
up €15,762 (+78.8%), from €20,010 to €35,772
- Other debts +€10,200
new in 2025: €10,200
- Gross operating margin +€5,931
up €5,931 (+14.9%), from €39,755 to €45,685
- Financial income -€1,885
down €1,885 (-70.5%), from €2,672 to €787
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 | €126,760 | €174,213 | +€47,453 | +37.4% |
| Fixed assets | 21/28 | - | €7,107 | +€7,107 | |
| Tangible fixed assets | 22/27 | - | €7,107 | +€7,107 | |
| Furniture and vehicles | 24 | - | €7,107 | +€7,107 | |
| Current assets | 29/58 | €126,760 | €167,106 | +€40,346 | +31.8% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €120,000 | €0 | -€120,000 | -100% |
| Cash at bank and in hand | 54/58 | €6,169 | €167,106 | +€160,936 | +2,609% |
| Deferred charges and accrued income | 490/1 | €590 | €0 | -€590 | -100% |
| Total equity and liabilities | 10/49 | €126,760 | €174,213 | +€47,453 | +37.4% |
| Equity | 10/15 | €105,553 | €127,509 | +€21,956 | +20.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €104,553 | €126,509 | +€21,956 | +21.0% |
| Distributable reserves | 133 | €104,553 | €126,509 | +€21,956 | +21.0% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €21,206 | €46,704 | +€25,498 | +120% |
| Amounts payable within one year | 42/48 | €21,206 | €46,704 | +€25,498 | +120% |
| Trade debts | 44 | €1,196 | €732 | -€464 | -38.8% |
| Suppliers | 440/4 | €1,196 | €732 | -€464 | -38.8% |
| Taxes, remuneration and social security | 45 | €20,010 | €35,772 | +€15,762 | +78.8% |
| Taxes | 450/3 | €20,010 | €35,772 | +€15,762 | +78.8% |
| Other amounts payable | 47/48 | - | €10,200 | +€10,200 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €296 | +€296 | |
| Other operating charges | 640/8 | €1,487 | €1,212 | -€275 | -18.5% |
| Gross operating margin | 9900 | €39,755 | €45,685 | +€5,931 | +14.9% |
| Operating profit (loss) | 9901 | €38,268 | €44,177 | +€5,909 | +15.4% |
| Financial income | 75/76B | €2,672 | €787 | -€1,885 | -70.5% |
| Recurring financial income | 75 | €2,672 | €787 | -€1,885 | -70.5% |
| Financial charges | 65/66B | €75 | €202 | +€126 | +167% |
| Recurring financial charges | 65 | €75 | €202 | +€126 | +167% |
| Profit (loss) for the period before taxes | 9903 | €40,864 | €44,762 | +€3,898 | +9.5% |
| Income taxes | 67/77 | €9,825 | €10,057 | +€232 | +2.4% |
| Profit (loss) for the period | 9904 | €31,039 | €34,706 | +€3,667 | +11.8% |
| Profit (loss) for the period to be appropriated | 9905 | €31,039 | €34,706 | +€3,667 | +11.8% |
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 27 October 2026 via checked.be.