LVS: 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.
LVS
Largest movements
- Cash -€14,195
down €14,195 (-92.4%), from €15,363 to €1,168
mainly Tax, wage and social debts (-€6,081) and Other debts (-€4,820)
- Receivables within one year +€3,117
up €3,117 (+61.7%), from €5,051 to €8,169
of which Trade receivables: +€3,095
- Deferred charges and accrued income +€1,709
up €1,709, from €0 to €1,709
- Tax, wage and social debts -€6,081
down €6,081 (-52.3%), from €11,624 to €5,543
of which Taxes: -€6,081
- Other debts -€4,820
down €4,820 (-53.2%), from €9,053 to €4,233
- Reserves +€1,223
up €1,223 (+67.0%), from €1,825 to €3,047
- Trade debts +€533
up €533 (+284.5%), from €187 to €721
- Gross operating margin -€8,221
down €8,221 (-58.0%), from €14,180 to €5,958
- Taxes -€2,478
down €2,478 (-61.8%), from €4,010 to €1,533
- Depreciation +€1,079
up €1,079 (+90.5%), from €1,192 to €2,271
- Financial charges -€227
down €227 (-60.5%), from €375 to €148
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 | €25,469 | €16,324 | -€9,145 | -35.9% |
| Fixed assets | 21/28 | €5,055 | €5,279 | +€223 | +4.4% |
| Tangible fixed assets | 22/27 | €5,055 | €5,279 | +€223 | +4.4% |
| Plant, machinery and equipment | 23 | €5,055 | €5,279 | +€223 | +4.4% |
| Current assets | 29/58 | €20,414 | €11,046 | -€9,368 | -45.9% |
| Amounts receivable within one year | 40/41 | €5,051 | €8,169 | +€3,117 | +61.7% |
| Trade receivables | 40 | €2,792 | €5,887 | +€3,095 | +110.9% |
| Other amounts receivable | 41 | €2,259 | €2,282 | +€22 | +1.0% |
| Cash at bank and in hand | 54/58 | €15,363 | €1,168 | -€14,195 | -92.4% |
| Deferred charges and accrued income | 490/1 | €0 | €1,709 | +€1,709 | |
| Total equity and liabilities | 10/49 | €25,469 | €16,324 | -€9,145 | -35.9% |
| Equity | 10/15 | €4,605 | €5,828 | +€1,223 | +26.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €1,825 | €3,047 | +€1,223 | +67.0% |
| Non-distributable reserves | 130/1 | €1,825 | €3,047 | +€1,223 | +67.0% |
| Other | 1319 | €1,825 | €3,047 | +€1,223 | +67.0% |
| Profit (loss) carried forward | 14 | €780 | €780 | = | 0.0% |
| Amounts payable | 17/49 | €20,864 | €10,496 | -€10,368 | -49.7% |
| Amounts payable within one year | 42/48 | €20,864 | €10,496 | -€10,368 | -49.7% |
| Trade debts | 44 | €187 | €721 | +€533 | +284.5% |
| Suppliers | 440/4 | €187 | €721 | +€533 | +284.5% |
| Taxes, remuneration and social security | 45 | €11,624 | €5,543 | -€6,081 | -52.3% |
| Taxes | 450/3 | €11,624 | €5,543 | -€6,081 | -52.3% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €9,053 | €4,233 | -€4,820 | -53.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,192 | €2,271 | +€1,079 | +90.5% |
| Other operating charges | 640/8 | €763 | €784 | +€20 | +2.7% |
| Gross operating margin | 9900 | €14,180 | €5,958 | -€8,221 | -58.0% |
| Operating profit (loss) | 9901 | €12,224 | €2,904 | -€9,321 | -76.2% |
| Financial charges | 65/66B | €375 | €148 | -€227 | -60.5% |
| Recurring financial charges | 65 | €375 | €148 | -€227 | -60.5% |
| Profit (loss) for the period before taxes | 9903 | €11,849 | €2,755 | -€9,094 | -76.7% |
| Income taxes | 67/77 | €4,010 | €1,533 | -€2,478 | -61.8% |
| Profit (loss) for the period | 9904 | €7,839 | €1,223 | -€6,616 | -84.4% |
| Profit (loss) for the period to be appropriated | 9905 | €7,839 | €1,223 | -€6,616 | -84.4% |
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 2 October 2026 via checked.be.