LVML: 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.
LVML
Largest movements
- Cash -€21,523
down €21,523 (-54.5%), from €39,508 to €17,986
mainly Contributions, distributions and other (-€24,000) and Debts after one year (-€12,822)
- Tangible fixed assets -€10,030
down €10,030 (-55.4%), from €18,110 to €8,080
of which Furniture and vehicles: -€6,729
- Receivables within one year -€2,716
down €2,716 (-12.1%), from €22,490 to €19,774
of which Trade receivables: -€2,681
- Debts after one year -€12,822
down €12,822 (-58.6%), from €21,886 to €9,064
- Reserves -€11,704
down €11,704 (-20.3%), from €57,605 to €45,901
- Tax, wage and social debts -€5,655
down €5,655 (-25.8%), from €21,911 to €16,255
- Current portion of long-term debt -€2,570
down €2,570 (-16.7%), from €15,393 to €12,822
- Gross operating margin -€17,933
down €17,933 (-34.3%), from €52,325 to €34,392
- Taxes -€1,614
down €1,614 (-14.5%), from €11,092 to €9,478
- Depreciation -€973
down €973 (-8.8%), from €11,063 to €10,090
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 | €146,215 | €112,978 | -€33,237 | -22.7% |
| Fixed assets | 21/28 | €83,252 | €73,162 | -€10,090 | -12.1% |
| Intangible fixed assets | 21 | €142 | €82 | -€60 | -42.4% |
| Tangible fixed assets | 22/27 | €18,110 | €8,080 | -€10,030 | -55.4% |
| Plant, machinery and equipment | 23 | €1,345 | €679 | -€665 | -49.5% |
| Furniture and vehicles | 24 | €10,324 | €3,595 | -€6,729 | -65.2% |
| Other tangible fixed assets | 26 | €6,442 | €3,806 | -€2,636 | -40.9% |
| Financial fixed assets | 28 | €65,000 | €65,000 | = | 0.0% |
| Current assets | 29/58 | €62,963 | €39,816 | -€23,147 | -36.8% |
| Amounts receivable within one year | 40/41 | €22,490 | €19,774 | -€2,716 | -12.1% |
| Trade receivables | 40 | €22,456 | €19,774 | -€2,681 | -11.9% |
| Other amounts receivable | 41 | €34 | €0 | -€34 | -100.0% |
| Cash at bank and in hand | 54/58 | €39,508 | €17,986 | -€21,523 | -54.5% |
| Deferred charges and accrued income | 490/1 | €965 | €2,056 | +€1,091 | +113.1% |
| Total equity and liabilities | 10/49 | €146,215 | €112,978 | -€33,237 | -22.7% |
| Equity | 10/15 | €71,605 | €59,901 | -€11,704 | -16.3% |
| Contributions | 10/11 | €14,000 | €14,000 | = | 0.0% |
| Reserves | 13 | €57,605 | €45,901 | -€11,704 | -20.3% |
| Distributable reserves | 133 | €57,605 | €45,901 | -€11,704 | -20.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €74,610 | €53,077 | -€21,533 | -28.9% |
| Amounts payable after more than one year | 17 | €21,886 | €9,064 | -€12,822 | -58.6% |
| Financial debts | 170/4 | €21,886 | €9,064 | -€12,822 | -58.6% |
| Amounts payable within one year | 42/48 | €52,724 | €43,507 | -€9,217 | -17.5% |
| Current portion of amounts payable after more than one year | 42 | €15,393 | €12,822 | -€2,570 | -16.7% |
| Trade debts | 44 | €4,524 | €3,508 | -€1,016 | -22.5% |
| Suppliers | 440/4 | €4,524 | €3,508 | -€1,016 | -22.5% |
| Taxes, remuneration and social security | 45 | €21,911 | €16,255 | -€5,655 | -25.8% |
| Taxes | 450/3 | €21,911 | €16,255 | -€5,655 | -25.8% |
| Other amounts payable | 47/48 | €10,897 | €10,921 | +€25 | +0.2% |
| Accrued charges and deferred income | 492/3 | €0 | €506 | +€506 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,063 | €10,090 | -€973 | -8.8% |
| Other operating charges | 640/8 | €1,474 | €1,430 | -€45 | -3.0% |
| Gross operating margin | 9900 | €52,325 | €34,392 | -€17,933 | -34.3% |
| Operating profit (loss) | 9901 | €39,787 | €22,872 | -€16,915 | -42.5% |
| Financial income | 75/76B | €0 | €5 | +€5 | +8266.7% |
| Recurring financial income | 75 | €0 | €5 | +€5 | +8266.7% |
| Financial charges | 65/66B | €970 | €1,103 | +€133 | +13.7% |
| Recurring financial charges | 65 | €970 | €1,103 | +€133 | +13.7% |
| Profit (loss) for the period before taxes | 9903 | €38,818 | €21,774 | -€17,043 | -43.9% |
| Income taxes | 67/77 | €11,092 | €9,478 | -€1,614 | -14.5% |
| Profit (loss) for the period | 9904 | €27,726 | €12,296 | -€15,430 | -55.7% |
| Profit (loss) for the period to be appropriated | 9905 | €27,726 | €12,296 | -€15,430 | -55.7% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.