L.G.C.E.: 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.C.E.
Largest movements
- Tangible fixed assets +€242,738
up €242,738 (+44.6%), from €544,003 to €786,740
of which Plant, machinery and equipment: +€285,708
- Cash +€72,339
up €72,339 (+139%), from €51,985 to €124,325
mainly Debts after one year (+€212,877) and Depreciation (+€160,885)
- Debts after one year +€212,877
up €212,877 (+82.1%), from €259,440 to €472,317
- Trade debts +€62,608
up €62,608 (+41.4%), from €151,154 to €213,761
- Profit (loss) carried forward +€41,925
up €41,925 (+157%), from €26,663 to €68,589
- Current portion of long-term debt -€11,050
down €11,050 (-8.4%), from €132,098 to €121,048
- Depreciation -€24,829
down €24,829 (-13.4%), from €185,714 to €160,885
- Taxes +€6,171
up €6,171 (+158%), from €3,908 to €10,079
- Staff costs -€4,007
down €4,007 (-9.5%), from €42,045 to €38,038
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 | €759,716 | €1,054,387 | +€294,671 | +38.8% |
| Fixed assets | 21/28 | €544,003 | €786,740 | +€242,738 | +44.6% |
| Tangible fixed assets | 22/27 | €544,003 | €786,740 | +€242,738 | +44.6% |
| Land and buildings | 22 | €139,403 | €128,333 | -€11,071 | -7.9% |
| Plant, machinery and equipment | 23 | €276,999 | €562,708 | +€285,708 | +103% |
| Leasing and similar rights | 25 | €127,600 | €95,700 | -€31,900 | -25.0% |
| Current assets | 29/58 | €215,714 | €267,647 | +€51,933 | +24.1% |
| Stocks and contracts in progress | 3 | €57,240 | €52,274 | -€4,967 | -8.7% |
| Stocks | 30/36 | €57,240 | €52,274 | -€4,967 | -8.7% |
| Amounts receivable within one year | 40/41 | €86,664 | €78,513 | -€8,151 | -9.4% |
| Trade receivables | 40 | €40,629 | €34,672 | -€5,957 | -14.7% |
| Other amounts receivable | 41 | €46,035 | €43,841 | -€2,194 | -4.8% |
| Cash at bank and in hand | 54/58 | €51,985 | €124,325 | +€72,339 | +139% |
| Deferred charges and accrued income | 490/1 | €19,825 | €12,535 | -€7,289 | -36.8% |
| Total equity and liabilities | 10/49 | €759,716 | €1,054,387 | +€294,671 | +38.8% |
| Equity | 10/15 | €168,963 | €210,889 | +€41,925 | +24.8% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €107,300 | €107,300 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,500 | €3,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,500 | €3,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €7,400 | €7,400 | = | 0.0% |
| Distributable reserves | 133 | €96,400 | €96,400 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,663 | €68,589 | +€41,925 | +157% |
| Amounts payable | 17/49 | €590,753 | €843,498 | +€252,745 | +42.8% |
| Amounts payable after more than one year | 17 | €259,440 | €472,317 | +€212,877 | +82.1% |
| Financial debts | 170/4 | €259,440 | €472,317 | +€212,877 | +82.1% |
| Amounts payable within one year | 42/48 | €331,063 | €370,932 | +€39,868 | +12.0% |
| Current portion of amounts payable after more than one year | 42 | €132,098 | €121,048 | -€11,050 | -8.4% |
| Financial debts | 43 | €15,000 | €5,000 | -€10,000 | -66.7% |
| Credit institutions | 430/8 | €15,000 | €5,000 | -€10,000 | -66.7% |
| Trade debts | 44 | €151,154 | €213,761 | +€62,608 | +41.4% |
| Suppliers | 440/4 | €151,154 | €213,761 | +€62,608 | +41.4% |
| Taxes, remuneration and social security | 45 | €13,028 | €19,794 | +€6,766 | +51.9% |
| Taxes | 450/3 | €6,158 | €14,681 | +€8,523 | +138% |
| Remuneration and social security | 454/9 | €6,870 | €5,113 | -€1,757 | -25.6% |
| Other amounts payable | 47/48 | €19,784 | €11,329 | -€8,456 | -42.7% |
| Accrued charges and deferred income | 492/3 | €250 | €250 | = | 0.0% |
| Non-recurring operating income | 76A | €10,000 | €0 | -€10,000 | -100% |
| Remuneration, social security and pensions | 62 | €42,045 | €38,038 | -€4,007 | -9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €185,714 | €160,885 | -€24,829 | -13.4% |
| Other operating charges | 640/8 | €4,367 | €4,532 | +€165 | +3.8% |
| Gross operating margin | 9900 | €264,500 | €266,857 | +€2,357 | +0.9% |
| Operating profit (loss) | 9901 | €32,373 | €63,401 | +€31,028 | +95.8% |
| Financial income | 75/76B | €9 | €242 | +€233 | +2,540% |
| Recurring financial income | 75 | €9 | €242 | +€233 | +2,540% |
| Financial charges | 65/66B | €9,219 | €11,640 | +€2,421 | +26.3% |
| Recurring financial charges | 65 | €9,219 | €11,640 | +€2,421 | +26.3% |
| Profit (loss) for the period before taxes | 9903 | €23,163 | €52,004 | +€28,840 | +125% |
| Income taxes | 67/77 | €3,908 | €10,079 | +€6,171 | +158% |
| Profit (loss) for the period | 9904 | €19,256 | €41,925 | +€22,670 | +118% |
| Profit (loss) for the period to be appropriated | 9905 | €19,256 | €41,925 | +€22,670 | +118% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.