LVS Beheer: 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.
What changed
LVS Beheer
NACE 55.100, Hotels and similar accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€66,282
2024 · -€186,828+€253,110
Equity
€3.5m
2024 · €3.4m+€66,282
Cash
€85,598
2024 · €30,751+€54,847
Balance sheet total
€5.6m
2024 · €5.8m-€247,914
Largest movements
Assets
- Tangible fixed assets -€265,562
down €265,562 (-5.7%), from €4.6m to €4.4m
of which Land and buildings: -€172,646
Equity and liabilities
- Debts after one year -€354,699
down €354,699 (-15.9%), from €2.2m to €1.9m
- Reserves +€66,280
up €66,280 (+11.2%), from €589,910 to €656,190
of which Distributable reserves: +€66,280
Income statement
- Gross operating margin +€289,307
up €289,307 (+82.1%), from €352,249 to €641,556
- Staff costs +€64,757
up €64,757 (+73.2%), from €88,518 to €153,275
- Financial income +€54,425
up €54,425 (+374%), from €14,564 to €68,990
- Financial charges +€28,537
up €28,537 (+34.5%), from €82,709 to €111,246
- Depreciation -€16,410
down €16,410 (-4.7%), from €351,734 to €335,324
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.
Result 2024
-€186,828
Gross operating margin
+€289,307
Staff costs
-€64,757
Depreciation
+€16,410
Other operating charges
-€6,929
Financial income
+€54,425
Financial charges
-€28,537
Taxes
-€6,809
Result 2025
€66,282
raises the resultlowers the result
Derived cash bridge
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.
From operations
+€481,928
Investment
-€67,430
Financing
-€359,651
Cash 2024
€30,751
From operations (derived)
+€481,928
Net result for the year
+€66,282
Depreciation
+€335,324
Receivables within one year
+€35,079
Deferred charges and accrued income
-€211
Trade debts
-€28,286
Tax, wage and social debts
+€8,719
Advances received
+€23,335
Other debts
+€22,593
Accrued charges and deferred income
+€19,095
Investment (derived)
-€67,430
Investment in fixed assets (net)
-€19,762
Current investments
-€47,668
Financing
-€359,651
Debts after one year
-€354,699
Current portion of long-term debt
-€4,952
Cash 2025
€85,598
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,839,629 | €5,591,716 | -€247,914 | -4.2% |
| Fixed assets | 21/28 | €4,944,737 | €4,629,175 | -€315,562 | -6.4% |
| Intangible fixed assets | 21 | €320,685 | €270,685 | -€50,000 | -15.6% |
| Tangible fixed assets | 22/27 | €4,624,052 | €4,358,490 | -€265,562 | -5.7% |
| Land and buildings | 22 | €4,028,923 | €3,856,277 | -€172,646 | -4.3% |
| Plant, machinery and equipment | 23 | €356,409 | €290,308 | -€66,100 | -18.5% |
| Furniture and vehicles | 24 | €238,720 | €211,905 | -€26,815 | -11.2% |
| Current assets | 29/58 | €894,892 | €962,540 | +€67,648 | +7.6% |
| Amounts receivable within one year | 40/41 | €54,946 | €19,867 | -€35,079 | -63.8% |
| Trade receivables | 40 | €50,335 | €1,490 | -€48,845 | -97.0% |
| Other amounts receivable | 41 | €4,610 | €18,377 | +€13,767 | +299% |
| Current investments | 50/53 | €801,722 | €849,390 | +€47,668 | +5.9% |
| Cash at bank and in hand | 54/58 | €30,751 | €85,598 | +€54,847 | +178% |
| Deferred charges and accrued income | 490/1 | €7,474 | €7,685 | +€211 | +2.8% |
| Total equity and liabilities | 10/49 | €5,839,629 | €5,591,716 | -€247,914 | -4.2% |
| Equity | 10/15 | €3,399,624 | €3,465,905 | +€66,282 | +1.9% |
| Contributions | 10/11 | €317,994 | €317,994 | = | 0.0% |
| Capital | 10 | €317,994 | €317,994 | = | 0.0% |
| Issued capital | 100 | €317,994 | €317,994 | = | 0.0% |
| Reserves | 13 | €589,910 | €656,190 | +€66,280 | +11.2% |
| Non-distributable reserves | 130/1 | €31,799 | €31,799 | = | 0.0% |
| Legal reserve | 130 | €31,799 | €31,799 | = | 0.0% |
| Distributable reserves | 133 | €558,111 | €624,391 | +€66,280 | +11.9% |
| Profit (loss) carried forward | 14 | €2,491,720 | €2,491,721 | +€2 | 0.0% |
| Amounts payable | 17/49 | €2,440,005 | €2,125,810 | -€314,195 | -12.9% |
| Amounts payable after more than one year | 17 | €2,237,554 | €1,882,855 | -€354,699 | -15.9% |
| Financial debts | 170/4 | €2,237,554 | €1,882,855 | -€354,699 | -15.9% |
| Amounts payable within one year | 42/48 | €186,549 | €207,958 | +€21,409 | +11.5% |
| Current portion of amounts payable after more than one year | 42 | €103,772 | €98,820 | -€4,952 | -4.8% |
| Trade debts | 44 | €45,815 | €17,530 | -€28,286 | -61.7% |
| Suppliers | 440/4 | €45,815 | €17,530 | -€28,286 | -61.7% |
| Advances received on contracts in progress | 46 | - | €23,335 | +€23,335 | |
| Taxes, remuneration and social security | 45 | €21,245 | €29,964 | +€8,719 | +41.0% |
| Taxes | 450/3 | €4,151 | €7,472 | +€3,321 | +80.0% |
| Remuneration and social security | 454/9 | €17,094 | €22,492 | +€5,398 | +31.6% |
| Other amounts payable | 47/48 | €15,715 | €38,309 | +€22,593 | +144% |
| Accrued charges and deferred income | 492/3 | €15,903 | €34,997 | +€19,095 | +120% |
| Remuneration, social security and pensions | 62 | €88,518 | €153,275 | +€64,757 | +73.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €351,734 | €335,324 | -€16,410 | -4.7% |
| Other operating charges | 640/8 | €30,398 | €37,327 | +€6,929 | +22.8% |
| Gross operating margin | 9900 | €352,249 | €641,556 | +€289,307 | +82.1% |
| Operating profit (loss) | 9901 | -€118,400 | €115,631 | +€234,031 | |
| Financial income | 75/76B | €14,564 | €68,990 | +€54,425 | +374% |
| Recurring financial income | 75 | €14,564 | €68,990 | +€54,425 | +374% |
| Financial charges | 65/66B | €82,709 | €111,246 | +€28,537 | +34.5% |
| Recurring financial charges | 65 | €82,709 | €111,246 | +€28,537 | +34.5% |
| Profit (loss) for the period before taxes | 9903 | -€186,545 | €73,374 | +€259,919 | |
| Income taxes | 67/77 | €283 | €7,092 | +€6,809 | +2,404% |
| Profit (loss) for the period | 9904 | -€186,828 | €66,282 | +€253,110 | |
| Profit (loss) for the period to be appropriated | 9905 | -€186,828 | €66,282 | +€253,110 |
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 24 October 2026 via checked.be.