LVMI: 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.
LVMI
Largest movements
- Cash +€51,324
up €51,324 (+45.1%), from €113,855 to €165,179
mainly Net result for the year (+€203,274) and Current portion of long-term debt (+€25,649)
- Receivables within one year +€18,963
up €18,963 (+102.4%), from €18,520 to €37,483
- Tangible fixed assets +€17,140
up €17,140 (+47.1%), from €36,385 to €53,524
of which Furniture and vehicles: +€20,887
- Profit (loss) carried forward +€38,274
up €38,274 (+197.6%), from €19,374 to €57,647
- Current portion of long-term debt +€25,649
up €25,649 (+409.9%), from €6,257 to €31,906
- Tax, wage and social debts +€13,023
up €13,023 (+18.0%), from €72,472 to €85,494
- Debts after one year +€10,394
up €10,394 (+56.0%), from €18,569 to €28,963
- Gross operating margin +€36,656
up €36,656 (+14.7%), from €249,170 to €285,827
- Taxes +€8,692
up €8,692 (+15.4%), from €56,492 to €65,183
- Other operating charges -€6,125
down €6,125 (-65.4%), from €9,371 to €3,246
- Depreciation +€3,675
up €3,675 (+65.9%), from €5,577 to €9,252
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 | €171,318 | €259,001 | +€87,682 | +51.2% |
| Fixed assets | 21/28 | €36,428 | €53,568 | +€17,140 | +47.1% |
| Tangible fixed assets | 22/27 | €36,385 | €53,524 | +€17,140 | +47.1% |
| Plant, machinery and equipment | 23 | €32,498 | €28,750 | -€3,747 | -11.5% |
| Furniture and vehicles | 24 | €3,887 | €24,774 | +€20,887 | +537.4% |
| Financial fixed assets | 28 | €43 | €43 | = | 0.0% |
| Current assets | 29/58 | €134,890 | €205,433 | +€70,542 | +52.3% |
| Amounts receivable within one year | 40/41 | €18,520 | €37,483 | +€18,963 | +102.4% |
| Trade receivables | 40 | €18,520 | €37,483 | +€18,963 | +102.4% |
| Cash at bank and in hand | 54/58 | €113,855 | €165,179 | +€51,324 | +45.1% |
| Deferred charges and accrued income | 490/1 | €2,516 | €2,771 | +€255 | +10.1% |
| Total equity and liabilities | 10/49 | €171,318 | €259,001 | +€87,682 | +51.2% |
| Equity | 10/15 | €39,834 | €78,107 | +€38,274 | +96.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,374 | €57,647 | +€38,274 | +197.6% |
| Amounts payable | 17/49 | €131,485 | €180,893 | +€49,409 | +37.6% |
| Amounts payable after more than one year | 17 | €18,569 | €28,963 | +€10,394 | +56.0% |
| Financial debts | 170/4 | €18,569 | €28,963 | +€10,394 | +56.0% |
| Amounts payable within one year | 42/48 | €112,723 | €151,931 | +€39,207 | +34.8% |
| Current portion of amounts payable after more than one year | 42 | €6,257 | €31,906 | +€25,649 | +409.9% |
| Trade debts | 44 | €6,988 | €7,385 | +€397 | +5.7% |
| Suppliers | 440/4 | €6,988 | €7,385 | +€397 | +5.7% |
| Taxes, remuneration and social security | 45 | €72,472 | €85,494 | +€13,023 | +18.0% |
| Taxes | 450/3 | €72,472 | €85,494 | +€13,023 | +18.0% |
| Other amounts payable | 47/48 | €27,007 | €27,145 | +€138 | +0.5% |
| Accrued charges and deferred income | 492/3 | €193 | - | -€193 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,577 | €9,252 | +€3,675 | +65.9% |
| Other operating charges | 640/8 | €9,371 | €3,246 | -€6,125 | -65.4% |
| Gross operating margin | 9900 | €249,170 | €285,827 | +€36,656 | +14.7% |
| Operating profit (loss) | 9901 | €234,222 | €273,329 | +€39,106 | +16.7% |
| Financial income | 75/76B | - | €5 | +€5 | |
| Recurring financial income | 75 | - | €5 | +€5 | |
| Financial charges | 65/66B | €4,781 | €4,876 | +€96 | +2.0% |
| Recurring financial charges | 65 | €4,781 | €4,876 | +€96 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €229,442 | €268,457 | +€39,015 | +17.0% |
| Income taxes | 67/77 | €56,492 | €65,183 | +€8,692 | +15.4% |
| Profit (loss) for the period | 9904 | €172,950 | €203,274 | +€30,324 | +17.5% |
| Profit (loss) for the period to be appropriated | 9905 | €172,950 | €203,274 | +€30,324 | +17.5% |
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 2 October 2026 via checked.be.