LVR Management: 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.
LVR Management
Largest movements
- Receivables within one year +€2,616
up €2,616 (+1,189%), from €220 to €2,836
of which Trade receivables: +€2,784
- Cash -€1,156
down €1,156 (-36.6%), from €3,156 to €2,000
mainly Net result for the year (-€10,621) and Receivables within one year (-€2,616)
- Tangible fixed assets -€777
down €777 (-21.3%), from €3,645 to €2,867
- Other debts +€11,055
up €11,055 (+41.1%), from €26,868 to €37,923
- Profit (loss) carried forward -€10,621
down €10,621 (-24.5%), from -€43,374 to -€53,995
- Tax, wage and social debts +€2,301
new in 2025: €2,301
- Trade debts -€1,501
down €1,501 (-59.7%), from €2,515 to €1,013
- Accrued charges and deferred income -€552
no longer reported in 2025 (was €552)
- Gross operating margin +€10,569
up €10,569 (+54.2%), from -€19,488 to -€8,919
- Depreciation +€535
up €535 (+221%), from €242 to €777
- Staff costs +€398
no longer reported in 2025 (was -€398)
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €7,020 | €7,703 | +€682 | +9.7% |
| Fixed assets | 21/28 | €3,645 | €2,867 | -€777 | -21.3% |
| Tangible fixed assets | 22/27 | €3,645 | €2,867 | -€777 | -21.3% |
| Other tangible fixed assets | 26 | €3,645 | €2,867 | -€777 | -21.3% |
| Current assets | 29/58 | €3,376 | €4,835 | +€1,459 | +43.2% |
| Amounts receivable within one year | 40/41 | €220 | €2,836 | +€2,616 | +1,189% |
| Trade receivables | 40 | €51 | €2,836 | +€2,784 | +5,425% |
| Other amounts receivable | 41 | €169 | - | -€169 | |
| Cash at bank and in hand | 54/58 | €3,156 | €2,000 | -€1,156 | -36.6% |
| Total equity and liabilities | 10/49 | €7,020 | €7,703 | +€682 | +9.7% |
| Equity | 10/15 | -€22,914 | -€33,535 | -€10,621 | -46.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€43,374 | -€53,995 | -€10,621 | -24.5% |
| Amounts payable | 17/49 | €29,934 | €41,238 | +€11,304 | +37.8% |
| Amounts payable within one year | 42/48 | €29,383 | €41,238 | +€11,855 | +40.3% |
| Trade debts | 44 | €2,515 | €1,013 | -€1,501 | -59.7% |
| Suppliers | 440/4 | €2,515 | €1,013 | -€1,501 | -59.7% |
| Taxes, remuneration and social security | 45 | - | €2,301 | +€2,301 | |
| Taxes | 450/3 | - | €2,301 | +€2,301 | |
| Other amounts payable | 47/48 | €26,868 | €37,923 | +€11,055 | +41.1% |
| Accrued charges and deferred income | 492/3 | €552 | - | -€552 | |
| Non-recurring operating income | 76A | €645 | - | -€645 | |
| Remuneration, social security and pensions | 62 | -€398 | - | +€398 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €242 | €777 | +€535 | +221% |
| Other operating charges | 640/8 | €897 | €769 | -€127 | -14.2% |
| Gross operating margin | 9900 | -€19,488 | -€8,919 | +€10,569 | +54.2% |
| Operating profit (loss) | 9901 | -€20,229 | -€10,465 | +€9,763 | +48.3% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €164 | €156 | -€8 | -4.9% |
| Recurring financial charges | 65 | €164 | €156 | -€8 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | -€20,393 | -€10,621 | +€9,771 | +47.9% |
| Profit (loss) for the period | 9904 | -€20,393 | -€10,621 | +€9,771 | +47.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,393 | -€10,621 | +€9,771 | +47.9% |
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 19 October 2026 via checked.be.