L.B.A.: 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.
L.B.A.
Largest movements
- Cash -€861,496
down €861,496 (-99.3%), from €867,786 to €6,291
mainly Current investments (-€810,807) and Net result for the year (-€85,135)
- Current investments +€810,807
up €810,807 (+92.8%), from €873,883 to €1.7m
- Tangible fixed assets -€62,265
down €62,265 (-7.4%), from €839,657 to €777,392
of which Land and buildings: -€62,265
- Reserves -€85,135
down €85,135 (-12.4%), from €687,708 to €602,573
of which Distributable reserves: -€74,401
- Debts after one year -€28,501
down €28,501 (-18.7%), from €152,041 to €123,540
- Financial income -€218,259
down €218,259 (-91.4%), from €238,859 to €20,601
- Financial charges -€25,229
down €25,229 (-34.8%), from €72,548 to €47,318
- Taxes -€22,646
down €22,646, from €22,545 to -€102
- Gross operating margin -€21,055
down €21,055 (-50.1%), from €42,010 to €20,955
- Other operating charges +€2,569
up €2,569 (+19.7%), from €13,063 to €15,631
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 | €2,640,296 | €2,531,484 | -€108,812 | -4.1% |
| Fixed assets | 21/28 | €839,657 | €777,392 | -€62,265 | -7.4% |
| Tangible fixed assets | 22/27 | €839,657 | €777,392 | -€62,265 | -7.4% |
| Land and buildings | 22 | €815,763 | €753,498 | -€62,265 | -7.6% |
| Furniture and vehicles | 24 | €23,894 | €23,894 | = | 0.0% |
| Current assets | 29/58 | €1,800,640 | €1,754,092 | -€46,547 | -2.6% |
| Amounts receivable within one year | 40/41 | €37,631 | €41,715 | +€4,085 | +10.9% |
| Other amounts receivable | 41 | €37,631 | €41,715 | +€4,085 | +10.9% |
| Current investments | 50/53 | €873,883 | €1,684,689 | +€810,807 | +92.8% |
| Cash at bank and in hand | 54/58 | €867,786 | €6,291 | -€861,496 | -99.3% |
| Deferred charges and accrued income | 490/1 | €21,340 | €21,397 | +€57 | +0.3% |
| Total equity and liabilities | 10/49 | €2,640,296 | €2,531,484 | -€108,812 | -4.1% |
| Equity | 10/15 | €2,300,842 | €2,215,707 | -€85,135 | -3.7% |
| Contributions | 10/11 | €1,613,134 | €1,613,134 | = | 0.0% |
| Capital | 10 | €1,592,000 | €1,592,000 | = | 0.0% |
| Issued capital | 100 | €1,592,000 | €1,592,000 | = | 0.0% |
| Contributions outside capital | 11 | €21,134 | €21,134 | = | 0.0% |
| Share premium | 1100/10 | €21,134 | €21,134 | = | 0.0% |
| Reserves | 13 | €687,708 | €602,573 | -€85,135 | -12.4% |
| Non-distributable reserves | 130/1 | €159,200 | €159,200 | = | 0.0% |
| Legal reserve | 130 | €159,200 | €159,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €189,816 | €179,083 | -€10,734 | -5.7% |
| Distributable reserves | 133 | €338,691 | €264,290 | -€74,401 | -22.0% |
| Provisions and deferred taxes | 16 | €136,566 | €131,920 | -€4,646 | -3.4% |
| Provisions for liabilities and charges | 160/5 | €40,000 | €40,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €40,000 | €40,000 | = | 0.0% |
| Deferred taxes | 168 | €96,566 | €91,920 | -€4,646 | -4.8% |
| Amounts payable | 17/49 | €202,888 | €183,857 | -€19,031 | -9.4% |
| Amounts payable after more than one year | 17 | €152,041 | €123,540 | -€28,501 | -18.7% |
| Financial debts | 170/4 | €152,041 | €123,540 | -€28,501 | -18.7% |
| Amounts payable within one year | 42/48 | €50,848 | €58,842 | +€7,995 | +15.7% |
| Current portion of amounts payable after more than one year | 42 | €30,000 | €28,590 | -€1,410 | -4.7% |
| Trade debts | 44 | €2,028 | €11,652 | +€9,624 | +474% |
| Suppliers | 440/4 | €2,028 | €11,652 | +€9,624 | +474% |
| Taxes, remuneration and social security | 45 | €18,502 | €18,401 | -€102 | -0.5% |
| Taxes | 450/3 | €18,502 | €18,401 | -€102 | -0.5% |
| Other amounts payable | 47/48 | €317 | €200 | -€117 | -36.8% |
| Accrued charges and deferred income | 492/3 | - | €1,475 | +€1,475 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,926 | €68,490 | +€564 | +0.8% |
| Other operating charges | 640/8 | €13,063 | €15,631 | +€2,569 | +19.7% |
| Gross operating margin | 9900 | €42,010 | €20,955 | -€21,055 | -50.1% |
| Operating profit (loss) | 9901 | -€38,978 | -€63,165 | -€24,187 | -62.1% |
| Financial income | 75/76B | €238,859 | €20,601 | -€218,259 | -91.4% |
| Recurring financial income | 75 | €238,859 | €20,601 | -€218,259 | -91.4% |
| Financial charges | 65/66B | €72,548 | €47,318 | -€25,229 | -34.8% |
| Recurring financial charges | 65 | €72,548 | €47,318 | -€25,229 | -34.8% |
| Profit (loss) for the period before taxes | 9903 | €127,334 | -€89,883 | -€217,216 | |
| Transfer from deferred taxes | 780 | €4,646 | €4,646 | = | 0.0% |
| Income taxes | 67/77 | €22,545 | -€102 | -€22,646 | |
| Profit (loss) for the period | 9904 | €109,435 | -€85,135 | -€194,570 | |
| Transfer from tax-exempt reserves | 789 | €9,023 | €9,023 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €118,459 | -€76,111 | -€194,570 |
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 14 October 2026 via checked.be.