LVMC: what changed
Two fiscal 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.
LVMC
Largest movements
- Cash -€29,167
down €29,167 (-32.8%), from €89,021 to €59,855
mainly Contributions, distributions and other (-€79,132) and Trade debts (-€11,392)
- Tangible fixed assets -€5,238
down €5,238 (-12.5%), from €41,748 to €36,510
of which Other tangible fixed assets: -€4,202
- Receivables within one year +€3,361
up €3,361 (+35.4%), from €9,496 to €12,857
of which Other amounts receivable: +€2,836
- Reserves -€49,288
down €49,288 (-39.5%), from €124,902 to €75,615
- Other debts +€29,689
up €29,689 (+2802.8%), from €1,059 to €30,748
- Trade debts -€11,392
down €11,392 (-71.3%), from €15,984 to €4,592
- Gross operating margin -€19,650
down €19,650 (-29.7%), from €66,165 to €46,515
- Taxes -€3,977
down €3,977 (-31.7%), from €12,556 to €8,579
- Depreciation +€2,011
up €2,011 (+62.3%), from €3,227 to €5,238
- Financial charges +€1,986
up €1,986 (+391.2%), from €508 to €2,494
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 | €142,946 | €111,455 | -€31,490 | -22.0% |
| Fixed assets | 21/28 | €41,748 | €36,510 | -€5,238 | -12.5% |
| Tangible fixed assets | 22/27 | €41,748 | €36,510 | -€5,238 | -12.5% |
| Furniture and vehicles | 24 | €1,747 | €711 | -€1,036 | -59.3% |
| Other tangible fixed assets | 26 | €40,001 | €35,799 | -€4,202 | -10.5% |
| Current assets | 29/58 | €101,198 | €74,945 | -€26,253 | -25.9% |
| Amounts receivable within one year | 40/41 | €9,496 | €12,857 | +€3,361 | +35.4% |
| Trade receivables | 40 | €8,775 | €9,300 | +€525 | +6.0% |
| Other amounts receivable | 41 | €721 | €3,557 | +€2,836 | +393.3% |
| Cash at bank and in hand | 54/58 | €89,021 | €59,855 | -€29,167 | -32.8% |
| Deferred charges and accrued income | 490/1 | €2,681 | €2,234 | -€447 | -16.7% |
| Total equity and liabilities | 10/49 | €142,946 | €111,455 | -€31,490 | -22.0% |
| Equity | 10/15 | €125,402 | €76,115 | -€49,288 | -39.3% |
| Contributions | 10/11 | €500 | €500 | = | 0.0% |
| Reserves | 13 | €124,902 | €75,615 | -€49,288 | -39.5% |
| Distributable reserves | 133 | €124,902 | €75,615 | -€49,288 | -39.5% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €17,544 | €35,341 | +€17,797 | +101.4% |
| Amounts payable within one year | 42/48 | €17,544 | €35,341 | +€17,797 | +101.4% |
| Trade debts | 44 | €15,984 | €4,592 | -€11,392 | -71.3% |
| Suppliers | 440/4 | €15,984 | €4,592 | -€11,392 | -71.3% |
| Taxes, remuneration and social security | 45 | €500 | €0 | -€500 | -100.0% |
| Taxes | 450/3 | €500 | €0 | -€500 | -100.0% |
| Other amounts payable | 47/48 | €1,059 | €30,748 | +€29,689 | +2802.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,227 | €5,238 | +€2,011 | +62.3% |
| Other operating charges | 640/8 | €842 | €960 | +€118 | +14.0% |
| Gross operating margin | 9900 | €66,165 | €46,515 | -€19,650 | -29.7% |
| Operating profit (loss) | 9901 | €62,097 | €40,318 | -€21,779 | -35.1% |
| Financial income | 75/76B | €254 | €598 | +€344 | +135.5% |
| Recurring financial income | 75 | €254 | €598 | +€344 | +135.5% |
| Financial charges | 65/66B | €508 | €2,494 | +€1,986 | +391.2% |
| Recurring financial charges | 65 | €508 | €2,494 | +€1,986 | +391.2% |
| Profit (loss) for the period before taxes | 9903 | €61,843 | €38,423 | -€23,420 | -37.9% |
| Income taxes | 67/77 | €12,556 | €8,579 | -€3,977 | -31.7% |
| Profit (loss) for the period | 9904 | €49,288 | €29,844 | -€19,444 | -39.4% |
| Profit (loss) for the period to be appropriated | 9905 | €49,288 | €29,844 | -€19,444 | -39.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.