L.B.S. BATCHELOR: 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.S. BATCHELOR
Largest movements
- Current investments +€298,664
up €298,664 (+30.3%), from €986,911 to €1.3m
- Cash -€146,447
down €146,447 (-73.5%), from €199,258 to €52,811
mainly Current investments (-€298,664) and Contributions, distributions and other (-€182,990)
- Reserves +€123,590
up €123,590 (+11.3%), from €1.1m to €1.2m
of which Distributable reserves: +€81,490
- Other debts +€38,185
up €38,185 (+138%), from €27,651 to €65,836
- Gross operating margin +€41,416
up €41,416 (+14.0%), from €295,991 to €337,408
- Financial income +€40,644
up €40,644 (+77.7%), from €52,332 to €92,976
- Taxes +€8,376
up €8,376 (+8.6%), from €97,668 to €106,044
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 | €1,212,358 | €1,368,776 | +€156,418 | +12.9% |
| Fixed assets | 21/28 | €2,100 | €1,298 | -€803 | -38.2% |
| Tangible fixed assets | 22/27 | €2,100 | €1,298 | -€803 | -38.2% |
| Plant, machinery and equipment | 23 | €1,530 | €1,020 | -€510 | -33.3% |
| Furniture and vehicles | 24 | €570 | €278 | -€293 | -51.3% |
| Current assets | 29/58 | €1,210,258 | €1,367,478 | +€157,220 | +13.0% |
| Amounts receivable within one year | 40/41 | €23,696 | €28,784 | +€5,088 | +21.5% |
| Trade receivables | 40 | €23,696 | - | -€23,696 | |
| Other amounts receivable | 41 | - | €28,784 | +€28,784 | |
| Current investments | 50/53 | €986,911 | €1,285,575 | +€298,664 | +30.3% |
| Cash at bank and in hand | 54/58 | €199,258 | €52,811 | -€146,447 | -73.5% |
| Deferred charges and accrued income | 490/1 | €393 | €308 | -€85 | -21.7% |
| Total equity and liabilities | 10/49 | €1,212,358 | €1,368,776 | +€156,418 | +12.9% |
| Equity | 10/15 | €1,107,166 | €1,230,756 | +€123,590 | +11.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,094,766 | €1,218,356 | +€123,590 | +11.3% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,855 | €1,855 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €42,100 | +€42,100 | |
| Distributable reserves | 133 | €1,092,911 | €1,174,401 | +€81,490 | +7.5% |
| Amounts payable | 17/49 | €105,192 | €138,020 | +€32,828 | +31.2% |
| Amounts payable within one year | 42/48 | €104,192 | €137,020 | +€32,828 | +31.5% |
| Current portion of amounts payable after more than one year | 42 | €4,249 | €4,235 | -€14 | -0.3% |
| Trade debts | 44 | €5,350 | €2,137 | -€3,213 | -60.1% |
| Suppliers | 440/4 | €5,350 | €2,137 | -€3,213 | -60.1% |
| Taxes, remuneration and social security | 45 | €66,943 | €64,812 | -€2,130 | -3.2% |
| Taxes | 450/3 | €66,943 | €49,027 | -€17,915 | -26.8% |
| Remuneration and social security | 454/9 | - | €15,785 | +€15,785 | |
| Other amounts payable | 47/48 | €27,651 | €65,836 | +€38,185 | +138% |
| Accrued charges and deferred income | 492/3 | €1,000 | €1,000 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €293 | €803 | +€510 | +174% |
| Other operating charges | 640/8 | €1,731 | €1,794 | +€62 | +3.6% |
| Non-recurring operating charges | 66A | €8,328 | - | -€8,328 | |
| Gross operating margin | 9900 | €295,991 | €337,408 | +€41,416 | +14.0% |
| Operating profit (loss) | 9901 | €285,639 | €334,811 | +€49,172 | +17.2% |
| Financial income | 75/76B | €52,332 | €92,976 | +€40,644 | +77.7% |
| Recurring financial income | 75 | €52,332 | €92,976 | +€40,644 | +77.7% |
| Financial charges | 65/66B | €14,802 | €15,163 | +€361 | +2.4% |
| Recurring financial charges | 65 | €14,802 | €15,163 | +€361 | +2.4% |
| Profit (loss) for the period before taxes | 9903 | €323,170 | €412,625 | +€89,455 | +27.7% |
| Income taxes | 67/77 | €97,668 | €106,044 | +€8,376 | +8.6% |
| Profit (loss) for the period | 9904 | €225,502 | €306,581 | +€81,079 | +36.0% |
| Transfer to tax-exempt reserves | 689 | - | €42,100 | +€42,100 | |
| Profit (loss) for the period to be appropriated | 9905 | €225,502 | €264,481 | +€38,979 | +17.3% |
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 23 October 2026 via checked.be.