LVW Int.: 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.
LVW Int.
Largest movements
- Cash +€247,820
up €247,820 (+473%), from €52,388 to €300,208
mainly Current investments (+€150,000) and Net result for the year (+€85,826)
- Current investments -€150,000
down €150,000 (-100%), from €150,000 to €0
- Deferred charges and accrued income -€80,143
down €80,143 (-77.6%), from €103,303 to €23,160
- Receivables within one year -€36,487
down €36,487 (-52.3%), from €69,762 to €33,275
of which Other amounts receivable: -€69,274
- Tangible fixed assets -€25,380
down €25,380 (-45.6%), from €55,632 to €30,252
of which Furniture and vehicles: -€24,586
- Other debts -€146,422
down €146,422 (-72.3%), from €202,653 to €56,231
- Reserves +€85,826
up €85,826 (+4.8%), from €1.8m to €1.9m
of which Distributable reserves: +€85,826
- Tax, wage and social debts +€22,002
up €22,002 (+266%), from €8,281 to €30,283
- Depreciation -€15,254
down €15,254 (-37.5%), from €40,634 to €25,380
- Gross operating margin +€9,102
up €9,102 (+12.9%), from €70,780 to €79,882
- Financial income -€7,409
down €7,409 (-8.3%), from €88,906 to €81,497
- Taxes +€4,321
up €4,321 (+10.1%), from €42,913 to €47,234
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,031,085 | €1,986,895 | -€44,190 | -2.2% |
| Fixed assets | 21/28 | €55,632 | €30,252 | -€25,380 | -45.6% |
| Tangible fixed assets | 22/27 | €55,632 | €30,252 | -€25,380 | -45.6% |
| Plant, machinery and equipment | 23 | €3,917 | €3,123 | -€794 | -20.3% |
| Furniture and vehicles | 24 | €51,715 | €27,129 | -€24,586 | -47.5% |
| Current assets | 29/58 | €1,975,453 | €1,956,643 | -€18,810 | -1.0% |
| Amounts receivable after more than one year | 29 | €1,600,000 | €1,600,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,600,000 | €1,600,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €69,762 | €33,275 | -€36,487 | -52.3% |
| Trade receivables | 40 | €488 | €33,275 | +€32,787 | +6,724% |
| Other amounts receivable | 41 | €69,274 | €0 | -€69,274 | -100% |
| Current investments | 50/53 | €150,000 | €0 | -€150,000 | -100% |
| Cash at bank and in hand | 54/58 | €52,388 | €300,208 | +€247,820 | +473% |
| Deferred charges and accrued income | 490/1 | €103,303 | €23,160 | -€80,143 | -77.6% |
| Total equity and liabilities | 10/49 | €2,031,085 | €1,986,895 | -€44,190 | -2.2% |
| Equity | 10/15 | €1,786,754 | €1,872,580 | +€85,826 | +4.8% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Reserves | 13 | €1,778,754 | €1,864,580 | +€85,826 | +4.8% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €504 | €504 | = | 0.0% |
| Distributable reserves | 133 | €1,776,390 | €1,862,216 | +€85,826 | +4.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €244,331 | €114,315 | -€130,016 | -53.2% |
| Amounts payable within one year | 42/48 | €242,324 | €114,315 | -€128,009 | -52.8% |
| Trade debts | 44 | €31,391 | €27,801 | -€3,589 | -11.4% |
| Suppliers | 440/4 | €31,391 | €27,801 | -€3,589 | -11.4% |
| Taxes, remuneration and social security | 45 | €8,281 | €30,283 | +€22,002 | +266% |
| Taxes | 450/3 | €8,281 | €30,283 | +€22,002 | +266% |
| Other amounts payable | 47/48 | €202,653 | €56,231 | -€146,422 | -72.3% |
| Accrued charges and deferred income | 492/3 | €2,007 | €0 | -€2,007 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,634 | €25,380 | -€15,254 | -37.5% |
| Other operating charges | 640/8 | €2,053 | €2,666 | +€613 | +29.9% |
| Gross operating margin | 9900 | €70,780 | €79,882 | +€9,102 | +12.9% |
| Operating profit (loss) | 9901 | €28,093 | €51,837 | +€23,743 | +84.5% |
| Financial income | 75/76B | €88,906 | €81,497 | -€7,409 | -8.3% |
| Recurring financial income | 75 | €88,906 | €81,497 | -€7,409 | -8.3% |
| Financial charges | 65/66B | €302 | €274 | -€28 | -9.2% |
| Recurring financial charges | 65 | €302 | €274 | -€28 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €116,698 | €133,060 | +€16,362 | +14.0% |
| Income taxes | 67/77 | €42,913 | €47,234 | +€4,321 | +10.1% |
| Profit (loss) for the period | 9904 | €73,785 | €85,826 | +€12,041 | +16.3% |
| Profit (loss) for the period to be appropriated | 9905 | €73,785 | €85,826 | +€12,041 | +16.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.