L&G: 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&G
Largest movements
- Current investments -€350,000
down €350,000 (-100.0%), from €350,000 to €0
- Tangible fixed assets +€280,008
up €280,008 (+651.4%), from €42,986 to €322,994
of which Furniture and vehicles: +€184,910
- Cash -€278,278
down €278,278 (-56.4%), from €493,801 to €215,523
- Receivables within one year -€65,566
down €65,566 (-68.5%), from €95,658 to €30,092
of which Other amounts receivable: -€36,202
- Stocks and contracts +€52,100
up €52,100, from €0 to €52,100
- Reserves -€271,981
down €271,981 (-31.4%), from €866,465 to €594,483
- Other debts -€52,087
down €52,087 (-81.2%), from €64,117 to €12,030
- Trade debts +€35,398
up €35,398, from €0 to €35,398
- Tax, wage and social debts -€33,442
down €33,442 (-64.0%), from €52,286 to €18,843
of which Taxes: -€29,342
- Profit (loss) carried forward -€10,777
down €10,777, from €0 to -€10,777
- Gross operating margin -€552,826
down €552,826 (-81.8%), from €676,064 to €123,238
- Taxes -€146,488
down €146,488 (-97.1%), from €150,883 to €4,395
- Staff costs -€47,138
down €47,138 (-31.0%), from €152,129 to €104,990
- Depreciation +€11,121
up €11,121 (+110.1%), from €10,099 to €21,221
- Financial income +€7,190
up €7,190 (+526.1%), from €1,367 to €8,557
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
A cash bridge needs two consecutive financial years: one year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €985,759 | €652,584 | -€333,175 | -33.8% |
| Fixed assets | 21/28 | €43,508 | €332,513 | +€289,006 | +664.3% |
| Intangible fixed assets | 21 | - | €4,498 | +€4,498 | |
| Tangible fixed assets | 22/27 | €42,986 | €322,994 | +€280,008 | +651.4% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €0 | €58,883 | +€58,883 | |
| Furniture and vehicles | 24 | €42,986 | €227,897 | +€184,910 | +430.2% |
| Other tangible fixed assets | 26 | €0 | €36,215 | +€36,215 | |
| Financial fixed assets | 28 | €521 | €5,021 | +€4,500 | +863.0% |
| Current assets | 29/58 | €942,252 | €320,071 | -€622,181 | -66.0% |
| Stocks and contracts in progress | 3 | €0 | €52,100 | +€52,100 | |
| Stocks | 30/36 | €0 | €52,100 | +€52,100 | |
| Amounts receivable within one year | 40/41 | €95,658 | €30,092 | -€65,566 | -68.5% |
| Trade receivables | 40 | €31,022 | €1,659 | -€29,363 | -94.7% |
| Other amounts receivable | 41 | €64,635 | €28,433 | -€36,202 | -56.0% |
| Current investments | 50/53 | €350,000 | €0 | -€350,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €493,801 | €215,523 | -€278,278 | -56.4% |
| Deferred charges and accrued income | 490/1 | €2,793 | €22,356 | +€19,563 | +700.5% |
| Total equity and liabilities | 10/49 | €985,759 | €652,584 | -€333,175 | -33.8% |
| Equity | 10/15 | €869,071 | €586,313 | -€282,759 | -32.5% |
| Contributions | 10/11 | €2,607 | €2,607 | = | 0.0% |
| Reserves | 13 | €866,465 | €594,483 | -€271,981 | -31.4% |
| Distributable reserves | 133 | €866,465 | €594,483 | -€271,981 | -31.4% |
| Profit (loss) carried forward | 14 | €0 | -€10,777 | -€10,777 | |
| Amounts payable | 17/49 | €116,688 | €66,272 | -€50,416 | -43.2% |
| Amounts payable within one year | 42/48 | €116,403 | €66,272 | -€50,132 | -43.1% |
| Trade debts | 44 | €0 | €35,398 | +€35,398 | |
| Suppliers | 440/4 | €0 | €35,398 | +€35,398 | |
| Taxes, remuneration and social security | 45 | €52,286 | €18,843 | -€33,442 | -64.0% |
| Taxes | 450/3 | €48,186 | €18,843 | -€29,342 | -60.9% |
| Remuneration and social security | 454/9 | €4,100 | €0 | -€4,100 | -100.0% |
| Other amounts payable | 47/48 | €64,117 | €12,030 | -€52,087 | -81.2% |
| Accrued charges and deferred income | 492/3 | €285 | €0 | -€285 | -100.0% |
| Non-recurring operating income | 76A | €488,745 | €0 | -€488,745 | -100.0% |
| Remuneration, social security and pensions | 62 | €152,129 | €104,990 | -€47,138 | -31.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,099 | €21,221 | +€11,121 | +110.1% |
| Other operating charges | 640/8 | €9,182 | €5,967 | -€3,215 | -35.0% |
| Non-recurring operating charges | 66A | €3,365 | €0 | -€3,365 | -100.0% |
| Gross operating margin | 9900 | €676,064 | €123,238 | -€552,826 | -81.8% |
| Operating profit (loss) | 9901 | €501,288 | -€8,940 | -€510,228 | |
| Financial income | 75/76B | €1,367 | €8,557 | +€7,190 | +526.1% |
| Recurring financial income | 75 | €1,367 | €8,557 | +€7,190 | +526.1% |
| Financial charges | 65/66B | €6,452 | €5,999 | -€453 | -7.0% |
| Recurring financial charges | 65 | €6,452 | €5,999 | -€453 | -7.0% |
| Profit (loss) for the period before taxes | 9903 | €496,203 | -€6,382 | -€502,585 | |
| Income taxes | 67/77 | €150,883 | €4,395 | -€146,488 | -97.1% |
| Profit (loss) for the period | 9904 | €345,320 | -€10,777 | -€356,097 | |
| Profit (loss) for the period to be appropriated | 9905 | €345,320 | -€10,777 | -€356,097 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.