L&K: what changed
Two fiscal 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&K
Largest movements
- Tangible fixed assets -€27,616
down €27,616 (-7.0%), from €391,933 to €364,317
- Cash -€14,437
down €14,437 (-42.9%), from €33,627 to €19,190
mainly Debts after one year (-€51,958) and Investment in fixed assets (net) (-€15,365)
- Debts after one year -€51,958
down €51,958 (-17.3%), from €300,899 to €248,941
- Profit (loss) carried forward +€12,640
up €12,640 (+98.5%), from €12,827 to €25,467
- Gross operating margin -€4,540
down €4,540 (-3.2%), from €143,346 to €138,806
- Financial charges -€3,186
down €3,186 (-29.5%), from €10,813 to €7,627
- Taxes +€2,877
up €2,877 (+96.1%), from €2,993 to €5,870
- Depreciation -€2,698
down €2,698 (-5.9%), from €45,679 to €42,981
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
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 | €443,449 | €404,127 | -€39,322 | -8.9% |
| Fixed assets | 21/28 | €391,933 | €364,317 | -€27,616 | -7.0% |
| Tangible fixed assets | 22/27 | €391,933 | €364,317 | -€27,616 | -7.0% |
| Land and buildings | 22 | €391,933 | €364,317 | -€27,616 | -7.0% |
| Current assets | 29/58 | €51,516 | €39,810 | -€11,706 | -22.7% |
| Amounts receivable within one year | 40/41 | €16,766 | €19,491 | +€2,725 | +16.3% |
| Trade receivables | 40 | €15,263 | €16,584 | +€1,321 | +8.7% |
| Other amounts receivable | 41 | €1,503 | €2,907 | +€1,404 | +93.4% |
| Cash at bank and in hand | 54/58 | €33,627 | €19,190 | -€14,437 | -42.9% |
| Deferred charges and accrued income | 490/1 | €1,123 | €1,129 | +€6 | +0.5% |
| Total equity and liabilities | 10/49 | €443,449 | €404,127 | -€39,322 | -8.9% |
| Equity | 10/15 | €74,977 | €87,617 | +€12,640 | +16.9% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €43,600 | €43,600 | = | 0.0% |
| Distributable reserves | 133 | €43,600 | €43,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,827 | €25,467 | +€12,640 | +98.5% |
| Amounts payable | 17/49 | €368,472 | €316,510 | -€51,962 | -14.1% |
| Amounts payable after more than one year | 17 | €300,899 | €248,941 | -€51,958 | -17.3% |
| Financial debts | 170/4 | €300,899 | €248,941 | -€51,958 | -17.3% |
| Amounts payable within one year | 42/48 | €67,507 | €67,502 | -€5 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €50,223 | €51,140 | +€917 | +1.8% |
| Trade debts | 44 | €2,160 | €4,799 | +€2,639 | +122.2% |
| Suppliers | 440/4 | €2,160 | €4,799 | +€2,639 | +122.2% |
| Taxes, remuneration and social security | 45 | €12,456 | €11,395 | -€1,061 | -8.5% |
| Taxes | 450/3 | €3,016 | €2,309 | -€707 | -23.4% |
| Remuneration and social security | 454/9 | €9,440 | €9,086 | -€354 | -3.8% |
| Other amounts payable | 47/48 | €2,668 | €168 | -€2,500 | -93.7% |
| Accrued charges and deferred income | 492/3 | €66 | €67 | +€1 | +1.5% |
| Remuneration, social security and pensions | 62 | €65,291 | €65,377 | +€86 | +0.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €45,679 | €42,981 | -€2,698 | -5.9% |
| Other operating charges | 640/8 | €4,179 | €4,311 | +€132 | +3.2% |
| Gross operating margin | 9900 | €143,346 | €138,806 | -€4,540 | -3.2% |
| Operating profit (loss) | 9901 | €28,197 | €26,137 | -€2,060 | -7.3% |
| Financial charges | 65/66B | €10,813 | €7,627 | -€3,186 | -29.5% |
| Recurring financial charges | 65 | €10,813 | €7,627 | -€3,186 | -29.5% |
| Profit (loss) for the period before taxes | 9903 | €17,384 | €18,510 | +€1,126 | +6.5% |
| Income taxes | 67/77 | €2,993 | €5,870 | +€2,877 | +96.1% |
| Profit (loss) for the period | 9904 | €14,391 | €12,640 | -€1,751 | -12.2% |
| Profit (loss) for the period to be appropriated | 9905 | €14,391 | €12,640 | -€1,751 | -12.2% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.