LVMJ: 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.
LVMJ
Largest movements
- Tangible fixed assets +€354,245
up €354,245 (+67041.0%), from €528 to €354,773
of which Land and buildings: +€354,089
- Cash +€69,309
up €69,309 (+28.3%), from €245,230 to €314,539
mainly Debts after one year (+€245,867) and Net result for the year (+€165,399)
- Receivables within one year +€58,890
up €58,890 (+201.0%), from €29,296 to €88,186
of which Trade receivables: +€33,871
- Financial fixed assets +€37,500
up €37,500 (+25000.0%), from €150 to €37,650
- Stocks and contracts +€27,141
up €27,141 (+59.3%), from €45,738 to €72,878
- Debts after one year +€245,867
up €245,867 (+619.3%), from €39,698 to €285,565
- Profit (loss) carried forward +€165,399
up €165,399 (+157.4%), from €105,070 to €270,469
- Trade debts +€58,101
up €58,101 (+137.7%), from €42,194 to €100,296
- Advances received +€31,518
up €31,518 (+168.8%), from €18,675 to €50,193
- Current portion of long-term debt +€14,825
up €14,825 (+143.8%), from €10,309 to €25,133
- Gross operating margin +€108,304
up €108,304 (+54.3%), from €199,364 to €307,668
- Staff costs +€18,045
up €18,045 (+34.0%), from €53,132 to €71,177
- Taxes +€10,836
up €10,836 (+37.4%), from €28,994 to €39,830
- Financial charges +€9,845
up €9,845 (+459.1%), from €2,144 to €11,990
- Other operating charges +€8,322
up €8,322 (+466.5%), from €1,784 to €10,107
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 | €322,155 | €868,069 | +€545,914 | +169.5% |
| Fixed assets | 21/28 | €678 | €392,423 | +€391,745 | +57745.4% |
| Tangible fixed assets | 22/27 | €528 | €354,773 | +€354,245 | +67041.0% |
| Land and buildings | 22 | - | €354,089 | +€354,089 | |
| Furniture and vehicles | 24 | €528 | €684 | +€155 | +29.4% |
| Financial fixed assets | 28 | €150 | €37,650 | +€37,500 | +25000.0% |
| Current assets | 29/58 | €321,476 | €475,646 | +€154,170 | +48.0% |
| Stocks and contracts in progress | 3 | €45,738 | €72,878 | +€27,141 | +59.3% |
| Stocks | 30/36 | €45,738 | €72,878 | +€27,141 | +59.3% |
| Amounts receivable within one year | 40/41 | €29,296 | €88,186 | +€58,890 | +201.0% |
| Trade receivables | 40 | €29,296 | €63,167 | +€33,871 | +115.6% |
| Other amounts receivable | 41 | - | €25,019 | +€25,019 | |
| Cash at bank and in hand | 54/58 | €245,230 | €314,539 | +€69,309 | +28.3% |
| Deferred charges and accrued income | 490/1 | €1,213 | €43 | -€1,170 | -96.5% |
| Total equity and liabilities | 10/49 | €322,155 | €868,069 | +€545,914 | +169.5% |
| Equity | 10/15 | €155,070 | €320,469 | +€165,399 | +106.7% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €105,070 | €270,469 | +€165,399 | +157.4% |
| Amounts payable | 17/49 | €167,085 | €547,600 | +€380,516 | +227.7% |
| Amounts payable after more than one year | 17 | €39,698 | €285,565 | +€245,867 | +619.3% |
| Financial debts | 170/4 | €39,698 | €285,565 | +€245,867 | +619.3% |
| Amounts payable within one year | 42/48 | €127,387 | €258,102 | +€130,715 | +102.6% |
| Current portion of amounts payable after more than one year | 42 | €10,309 | €25,133 | +€14,825 | +143.8% |
| Financial debts | 43 | - | €10,141 | +€10,141 | |
| Credit institutions | 430/8 | - | €10,141 | +€10,141 | |
| Trade debts | 44 | €42,194 | €100,296 | +€58,101 | +137.7% |
| Suppliers | 440/4 | €42,194 | €100,296 | +€58,101 | +137.7% |
| Advances received on contracts in progress | 46 | €18,675 | €50,193 | +€31,518 | +168.8% |
| Taxes, remuneration and social security | 45 | €53,993 | €68,124 | +€14,131 | +26.2% |
| Taxes | 450/3 | €43,675 | €56,114 | +€12,440 | +28.5% |
| Remuneration and social security | 454/9 | €10,318 | €12,009 | +€1,691 | +16.4% |
| Other amounts payable | 47/48 | €2,216 | €4,216 | +€2,000 | +90.2% |
| Accrued charges and deferred income | 492/3 | - | €3,934 | +€3,934 | |
| Remuneration, social security and pensions | 62 | €53,132 | €71,177 | +€18,045 | +34.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €171 | €6,239 | +€6,068 | +3556.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €9,797 | €7,353 | -€2,444 | -24.9% |
| Other operating charges | 640/8 | €1,784 | €10,107 | +€8,322 | +466.5% |
| Gross operating margin | 9900 | €199,364 | €307,668 | +€108,304 | +54.3% |
| Operating profit (loss) | 9901 | €134,480 | €212,792 | +€78,313 | +58.2% |
| Financial income | 75/76B | €1,728 | €4,426 | +€2,698 | +156.1% |
| Recurring financial income | 75 | €1,728 | €4,426 | +€2,698 | +156.1% |
| Financial charges | 65/66B | €2,144 | €11,990 | +€9,845 | +459.1% |
| Recurring financial charges | 65 | €2,144 | €11,990 | +€9,845 | +459.1% |
| Profit (loss) for the period before taxes | 9903 | €134,064 | €205,229 | +€71,165 | +53.1% |
| Income taxes | 67/77 | €28,994 | €39,830 | +€10,836 | +37.4% |
| Profit (loss) for the period | 9904 | €105,070 | €165,399 | +€60,329 | +57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €105,070 | €165,399 | +€60,329 | +57.4% |
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 6 October 2026 via checked.be.