HOLDING LGS: 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.
HOLDING LGS
Largest movements
- Cash +€731,627
up €731,627 (+142%), from €513,769 to €1.2m
mainly Net result for the year (+€1.4m) and Advances received (+€547,804)
- Debts after one year -€628,079
down €628,079 (-20.7%), from €3.0m to €2.4m
of which Financial debts: -€521,194
- Advances received +€547,804
up €547,804 (+152%), from €359,916 to €907,720
- Reserves +€233,103
up €233,103 (+3.7%), from €6.3m to €6.5m
of which Distributable reserves: +€233,103
- Accrued charges and deferred income +€128,139
new in 2025: €128,139
- Financial income -€961,450
down €961,450 (-50.3%), from €1.9m to €950,793
of which Financial income: -€946,450
- Gross operating margin +€230,103
up €230,103 (+40.6%), from €566,742 to €796,845
- Financial charges -€37,220
down €37,220 (-27.7%), from €134,601 to €97,381
of which Financial charges: -€19,031
- Taxes +€32,815
up €32,815 (+24.3%), from €135,000 to €167,815
- Other operating charges +€15,164
up €15,164 (+111%), from €13,689 to €28,853
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 | €10,511,616 | €11,029,309 | +€517,693 | +4.9% |
| Fixed assets | 21/28 | €8,008,459 | €7,885,970 | -€122,489 | -1.5% |
| Tangible fixed assets | 22/27 | €2,151,670 | €2,079,620 | -€72,050 | -3.3% |
| Land and buildings | 22 | €1,989,305 | €1,890,826 | -€98,479 | -5.0% |
| Furniture and vehicles | 24 | €84,545 | €110,974 | +€26,428 | +31.3% |
| Other tangible fixed assets | 26 | €77,820 | €77,820 | = | 0.0% |
| Financial fixed assets | 28 | €5,856,789 | €5,806,350 | -€50,438 | -0.9% |
| Current assets | 29/58 | €2,503,157 | €3,143,339 | +€640,181 | +25.6% |
| Amounts receivable within one year | 40/41 | €1,978,797 | €1,897,942 | -€80,855 | -4.1% |
| Trade receivables | 40 | €331,138 | €344,775 | +€13,637 | +4.1% |
| Other amounts receivable | 41 | €1,647,659 | €1,553,166 | -€94,492 | -5.7% |
| Cash at bank and in hand | 54/58 | €513,769 | €1,245,397 | +€731,627 | +142% |
| Deferred charges and accrued income | 490/1 | €10,591 | - | -€10,591 | |
| Total equity and liabilities | 10/49 | €10,511,616 | €11,029,309 | +€517,693 | +4.9% |
| Equity | 10/15 | €6,335,545 | €6,568,648 | +€233,103 | +3.7% |
| Contributions | 10/11 | €19,000 | €19,000 | = | 0.0% |
| Reserves | 13 | €6,316,545 | €6,549,648 | +€233,103 | +3.7% |
| Non-distributable reserves | 130/1 | €1,900 | €1,900 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,900 | €1,900 | = | 0.0% |
| Distributable reserves | 133 | €6,314,645 | €6,547,748 | +€233,103 | +3.7% |
| Amounts payable | 17/49 | €4,176,071 | €4,460,661 | +€284,590 | +6.8% |
| Amounts payable after more than one year | 17 | €3,028,399 | €2,400,320 | -€628,079 | -20.7% |
| Financial debts | 170/4 | €2,856,399 | €2,335,206 | -€521,194 | -18.2% |
| Other amounts payable | 178/9 | €172,000 | €65,115 | -€106,885 | -62.1% |
| Amounts payable within one year | 42/48 | €1,147,672 | €1,932,202 | +€784,531 | +68.4% |
| Current portion of amounts payable after more than one year | 42 | €570,646 | €641,623 | +€70,978 | +12.4% |
| Financial debts | 43 | - | €9,888 | +€9,888 | |
| Credit institutions | 430/8 | - | €9,888 | +€9,888 | |
| Trade debts | 44 | €118,250 | €121,976 | +€3,726 | +3.2% |
| Suppliers | 440/4 | €118,250 | €121,976 | +€3,726 | +3.2% |
| Advances received on contracts in progress | 46 | €359,916 | €907,720 | +€547,804 | +152% |
| Taxes, remuneration and social security | 45 | €87,660 | €168,396 | +€80,736 | +92.1% |
| Taxes | 450/3 | €87,660 | €168,396 | +€80,736 | +92.1% |
| Other amounts payable | 47/48 | €11,200 | €82,600 | +€71,400 | +637% |
| Accrued charges and deferred income | 492/3 | - | €128,139 | +€128,139 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €81,569 | €80,114 | -€1,455 | -1.8% |
| Other operating charges | 640/8 | €13,689 | €28,853 | +€15,164 | +111% |
| Gross operating margin | 9900 | €566,742 | €796,845 | +€230,103 | +40.6% |
| Operating profit (loss) | 9901 | €471,484 | €687,877 | +€216,394 | +45.9% |
| Financial income | 75/76B | €1,912,243 | €950,793 | -€961,450 | -50.3% |
| Recurring financial income | 75 | €1,897,243 | €950,793 | -€946,450 | -49.9% |
| Non-recurring financial income | 76B | €15,000 | - | -€15,000 | |
| Financial charges | 65/66B | €134,601 | €97,381 | -€37,220 | -27.7% |
| Recurring financial charges | 65 | €101,412 | €82,381 | -€19,031 | -18.8% |
| Non-recurring financial charges | 66B | €33,189 | €15,000 | -€18,189 | -54.8% |
| Profit (loss) for the period before taxes | 9903 | €2,249,126 | €1,541,289 | -€707,837 | -31.5% |
| Income taxes | 67/77 | €135,000 | €167,815 | +€32,815 | +24.3% |
| Profit (loss) for the period | 9904 | €2,114,126 | €1,373,473 | -€740,652 | -35.0% |
| Profit (loss) for the period to be appropriated | 9905 | €2,114,126 | €1,373,473 | -€740,652 | -35.0% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.