LVS 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.
LVS Management
Largest movements
- Receivables within one year +€25,448
up €25,448 (+242%), from €10,497 to €35,945
of which Other amounts receivable: +€23,416
- Intangible fixed assets -€9,330
down €9,330 (-25.0%), from €37,295 to €27,965
- Cash +€5,945
up €5,945 (+53.9%), from €11,030 to €16,974
mainly Depreciation (+€9,844) and Other debts (+€8,014)
- Other debts +€8,014
up €8,014 (+24.7%), from €32,414 to €40,428
- Trade debts +€7,435
up €7,435 (+726%), from €1,024 to €8,459
- Profit (loss) carried forward +€5,632
up €5,632, from -€2,645 to €2,987
- Tax, wage and social debts +€1,492
up €1,492 (+16.1%), from €9,282 to €10,774
- Taxes -€3,832
no longer reported in 2025 (was €3,832)
- Gross operating margin +€1,448
up €1,448 (+10.2%), from €14,159 to €15,607
- Other operating charges -€658
down €658 (-94.9%), from €694 to €36
- Depreciation +€303
up €303 (+3.2%), from €9,541 to €9,844
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €60,248 | €82,648 | +€22,400 | +37.2% |
| Formation expenses | 20 | €108 | - | -€108 | |
| Fixed assets | 21/28 | €38,028 | €29,167 | -€8,861 | -23.3% |
| Intangible fixed assets | 21 | €37,295 | €27,965 | -€9,330 | -25.0% |
| Tangible fixed assets | 22/27 | €733 | €1,202 | +€469 | +64.0% |
| Plant, machinery and equipment | 23 | €733 | €1,202 | +€469 | +64.0% |
| Current assets | 29/58 | €22,113 | €53,481 | +€31,369 | +142% |
| Amounts receivable within one year | 40/41 | €10,497 | €35,945 | +€25,448 | +242% |
| Trade receivables | 40 | €10,497 | €12,529 | +€2,032 | +19.4% |
| Other amounts receivable | 41 | - | €23,416 | +€23,416 | |
| Cash at bank and in hand | 54/58 | €11,030 | €16,974 | +€5,945 | +53.9% |
| Deferred charges and accrued income | 490/1 | €585 | €562 | -€24 | -4.1% |
| Total equity and liabilities | 10/49 | €60,248 | €82,648 | +€22,400 | +37.2% |
| Equity | 10/15 | €17,355 | €22,987 | +€5,632 | +32.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€2,645 | €2,987 | +€5,632 | |
| Amounts payable | 17/49 | €42,894 | €59,661 | +€16,767 | +39.1% |
| Amounts payable within one year | 42/48 | €42,720 | €59,661 | +€16,941 | +39.7% |
| Trade debts | 44 | €1,024 | €8,459 | +€7,435 | +726% |
| Suppliers | 440/4 | €1,024 | €8,459 | +€7,435 | +726% |
| Taxes, remuneration and social security | 45 | €9,282 | €10,774 | +€1,492 | +16.1% |
| Taxes | 450/3 | €9,282 | €10,774 | +€1,492 | +16.1% |
| Other amounts payable | 47/48 | €32,414 | €40,428 | +€8,014 | +24.7% |
| Accrued charges and deferred income | 492/3 | €173 | - | -€173 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,541 | €9,844 | +€303 | +3.2% |
| Other operating charges | 640/8 | €694 | €36 | -€658 | -94.9% |
| Gross operating margin | 9900 | €14,159 | €15,607 | +€1,448 | +10.2% |
| Operating profit (loss) | 9901 | €3,924 | €5,727 | +€1,803 | +45.9% |
| Financial income | 75/76B | €5 | €37 | +€32 | +640% |
| Recurring financial income | 75 | €5 | €37 | +€32 | +640% |
| Financial charges | 65/66B | €132 | €132 | -€0 | -0.1% |
| Recurring financial charges | 65 | €132 | €132 | -€0 | -0.1% |
| Profit (loss) for the period before taxes | 9903 | €3,797 | €5,632 | +€1,835 | +48.3% |
| Income taxes | 67/77 | €3,832 | - | -€3,832 | |
| Profit (loss) for the period | 9904 | -€34 | €5,632 | +€5,666 | |
| Profit (loss) for the period to be appropriated | 9905 | -€34 | €5,632 | +€5,666 |
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 26 October 2026 via checked.be.