LVWC: 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.
LVWC
Largest movements
- Tangible fixed assets -€5,525
down €5,525 (-21.2%), from €26,020 to €20,495
- Cash +€634
up €634 (+29.6%), from €2,139 to €2,774
mainly Depreciation (+€6,109) and Accrued charges and deferred income (+€2,746)
- Formation expenses -€584
down €584 (-23.1%), from €2,527 to €1,943
- Receivables within one year -€409
down €409 (-85.3%), from €479 to €70
of which Other amounts receivable: -€474
- Profit (loss) carried forward -€10,288
down €10,288 (-210.0%), from -€4,898 to -€15,186
- Accrued charges and deferred income +€2,746
up €2,746 (+203.3%), from €1,351 to €4,096
- Tax, wage and social debts +€2,508
up €2,508 (+7394.0%), from €34 to €2,542
- Trade debts -€922
down €922 (-76.7%), from €1,203 to €281
- Depreciation +€4,111
up €4,111 (+205.8%), from €1,998 to €6,109
- Financial charges +€1,349
up €1,349 (+98.0%), from €1,378 to €2,727
- Other operating charges -€126
down €126 (-34.8%), from €362 to €236
- Taxes +€98
up €98 (+289.2%), from €34 to €132
- Gross operating margin +€43
up €43 (+3.8%), from -€1,127 to -€1,084
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 | €32,190 | €26,233 | -€5,956 | -18.5% |
| Formation expenses | 20 | €2,527 | €1,943 | -€584 | -23.1% |
| Fixed assets | 21/28 | €26,020 | €20,495 | -€5,525 | -21.2% |
| Tangible fixed assets | 22/27 | €26,020 | €20,495 | -€5,525 | -21.2% |
| Furniture and vehicles | 24 | €26,020 | €20,495 | -€5,525 | -21.2% |
| Current assets | 29/58 | €3,642 | €3,795 | +€153 | +4.2% |
| Amounts receivable within one year | 40/41 | €479 | €70 | -€409 | -85.3% |
| Trade receivables | 40 | €5 | €70 | +€65 | +1300.0% |
| Other amounts receivable | 41 | €474 | €0 | -€474 | -99.9% |
| Cash at bank and in hand | 54/58 | €2,139 | €2,774 | +€634 | +29.6% |
| Deferred charges and accrued income | 490/1 | €1,024 | €951 | -€73 | -7.1% |
| Total equity and liabilities | 10/49 | €32,190 | €26,233 | -€5,956 | -18.5% |
| Equity | 10/15 | -€3,898 | -€14,186 | -€10,288 | -263.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€4,898 | -€15,186 | -€10,288 | -210.0% |
| Amounts payable | 17/49 | €36,088 | €40,419 | +€4,332 | +12.0% |
| Amounts payable after more than one year | 17 | €33,500 | €33,500 | = | 0.0% |
| Financial debts | 170/4 | €33,500 | €33,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,237 | €2,823 | +€1,586 | +128.2% |
| Trade debts | 44 | €1,203 | €281 | -€922 | -76.7% |
| Suppliers | 440/4 | €1,203 | €281 | -€922 | -76.7% |
| Taxes, remuneration and social security | 45 | €34 | €2,542 | +€2,508 | +7394.0% |
| Taxes | 450/3 | €34 | €2,542 | +€2,508 | +7394.0% |
| Accrued charges and deferred income | 492/3 | €1,351 | €4,096 | +€2,746 | +203.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,998 | €6,109 | +€4,111 | +205.8% |
| Other operating charges | 640/8 | €362 | €236 | -€126 | -34.8% |
| Gross operating margin | 9900 | -€1,127 | -€1,084 | +€43 | +3.8% |
| Operating profit (loss) | 9901 | -€3,487 | -€7,429 | -€3,942 | -113.1% |
| Financial charges | 65/66B | €1,378 | €2,727 | +€1,349 | +98.0% |
| Recurring financial charges | 65 | €1,378 | €2,727 | +€1,349 | +98.0% |
| Profit (loss) for the period before taxes | 9903 | -€4,864 | -€10,156 | -€5,292 | -108.8% |
| Income taxes | 67/77 | €34 | €132 | +€98 | +289.2% |
| Profit (loss) for the period | 9904 | -€4,898 | -€10,288 | -€5,390 | -110.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,898 | -€10,288 | -€5,390 | -110.0% |
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 6 October 2026 via checked.be.