LVTG: 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.
LVTG
Largest movements
- Tangible fixed assets -€12,122
down €12,122 (-32.7%), from €37,054 to €24,932
of which Leasing and similar rights: -€32,494
- Deferred charges and accrued income +€3,289
up €3,289 (+297.7%), from €1,105 to €4,393
- Receivables within one year -€2,684
down €2,684 (-50.0%), from €5,374 to €2,690
- Trade debts +€17,660
up €17,660 (+56.3%), from €31,385 to €49,046
- Current portion of long-term debt -€14,154
down €14,154 (-100.0%), from €14,154 to €0
- Other debts -€11,750
down €11,750 (-23.7%), from €49,515 to €37,765
- Tax, wage and social debts -€1,547
down €1,547 (-12.6%), from €12,291 to €10,745
- Short-term financial debts -€744
down €744 (-100.0%), from €744 to €0
- Gross operating margin +€37,951
up €37,951, from -€20,753 to €17,198
- Financial charges +€781
up €781 (+27.3%), from €2,867 to €3,648
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 | €48,057 | €37,054 | -€11,003 | -22.9% |
| Fixed assets | 21/28 | €37,054 | €24,932 | -€12,122 | -32.7% |
| Tangible fixed assets | 22/27 | €37,054 | €24,932 | -€12,122 | -32.7% |
| Plant, machinery and equipment | 23 | €4,299 | €24,932 | +€20,634 | +480.0% |
| Furniture and vehicles | 24 | €261 | €0 | -€261 | -100.0% |
| Leasing and similar rights | 25 | €32,494 | €0 | -€32,494 | -100.0% |
| Current assets | 29/58 | €11,003 | €12,121 | +€1,119 | +10.2% |
| Stocks and contracts in progress | 3 | €3,424 | €3,661 | +€237 | +6.9% |
| Stocks | 30/36 | €3,424 | €3,661 | +€237 | +6.9% |
| Amounts receivable within one year | 40/41 | €5,374 | €2,690 | -€2,684 | -50.0% |
| Trade receivables | 40 | €5,374 | €2,690 | -€2,684 | -50.0% |
| Cash at bank and in hand | 54/58 | €1,100 | €1,378 | +€278 | +25.2% |
| Deferred charges and accrued income | 490/1 | €1,105 | €4,393 | +€3,289 | +297.7% |
| Total equity and liabilities | 10/49 | €48,057 | €37,054 | -€11,003 | -22.9% |
| Equity | 10/15 | -€60,032 | -€60,502 | -€469 | -0.8% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€70,032 | -€70,502 | -€469 | -0.7% |
| Amounts payable | 17/49 | €108,089 | €97,555 | -€10,534 | -9.7% |
| Amounts payable within one year | 42/48 | €108,089 | €97,555 | -€10,534 | -9.7% |
| Current portion of amounts payable after more than one year | 42 | €14,154 | €0 | -€14,154 | -100.0% |
| Financial debts | 43 | €744 | €0 | -€744 | -100.0% |
| Credit institutions | 430/8 | €744 | €0 | -€744 | -100.0% |
| Trade debts | 44 | €31,385 | €49,046 | +€17,660 | +56.3% |
| Suppliers | 440/4 | €31,385 | €49,046 | +€17,660 | +56.3% |
| Taxes, remuneration and social security | 45 | €12,291 | €10,745 | -€1,547 | -12.6% |
| Taxes | 450/3 | €12,291 | €10,745 | -€1,547 | -12.6% |
| Other amounts payable | 47/48 | €49,515 | €37,765 | -€11,750 | -23.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,932 | €13,969 | +€37 | +0.3% |
| Other operating charges | 640/8 | - | €50 | +€50 | |
| Gross operating margin | 9900 | -€20,753 | €17,198 | +€37,951 | |
| Operating profit (loss) | 9901 | -€34,685 | €3,179 | +€37,864 | |
| Financial charges | 65/66B | €2,867 | €3,648 | +€781 | +27.3% |
| Recurring financial charges | 65 | €2,867 | €3,648 | +€781 | +27.3% |
| Profit (loss) for the period before taxes | 9903 | -€37,552 | -€469 | +€37,082 | +98.8% |
| Profit (loss) for the period | 9904 | -€37,552 | -€469 | +€37,082 | +98.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€37,552 | -€469 | +€37,082 | +98.8% |
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 3 October 2026 via checked.be.