L.K.I.: 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.K.I.
Largest movements
- Tangible fixed assets -€92,572
down €92,572 (-4.2%), from €2.2m to €2.1m
of which Other tangible fixed assets: -€91,810
- Receivables within one year -€51,816
down €51,816 (-13.2%), from €392,882 to €341,066
of which Other amounts receivable: -€50,849
- Debts after one year -€172,510
down €172,510 (-7.8%), from €2.2m to €2.0m
- Current portion of long-term debt +€83,658
new in 2025: €83,658
- Profit (loss) carried forward -€42,648
down €42,648 (-35.3%), from -€120,918 to -€163,566
- Financial charges -€42,541
down €42,541 (-35.3%), from €120,585 to €78,045
- Other operating charges -€13,317
down €13,317 (-93.0%), from €14,316 to €998
- Gross operating margin -€11,175
down €11,175 (-17.0%), from €65,591 to €54,416
- Financial income +€8,714
up €8,714 (+13.2%), from €65,837 to €74,551
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 | €3,687,198 | €3,558,406 | -€128,791 | -3.5% |
| Fixed assets | 21/28 | €2,210,269 | €2,117,696 | -€92,572 | -4.2% |
| Tangible fixed assets | 22/27 | €2,210,269 | €2,117,696 | -€92,572 | -4.2% |
| Land and buildings | 22 | €1,563,900 | €1,563,900 | = | 0.0% |
| Plant, machinery and equipment | 23 | €3,699 | €2,936 | -€762 | -20.6% |
| Other tangible fixed assets | 26 | €642,670 | €550,860 | -€91,810 | -14.3% |
| Current assets | 29/58 | €1,476,929 | €1,440,710 | -€36,219 | -2.5% |
| Amounts receivable after more than one year | 29 | €1,000,000 | €1,000,000 | = | 0.0% |
| Other amounts receivable | 291 | €1,000,000 | €1,000,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €392,882 | €341,066 | -€51,816 | -13.2% |
| Trade receivables | 40 | €968 | €0 | -€968 | -100% |
| Other amounts receivable | 41 | €391,914 | €341,066 | -€50,849 | -13.0% |
| Cash at bank and in hand | 54/58 | €18,806 | €20,195 | +€1,389 | +7.4% |
| Deferred charges and accrued income | 490/1 | €65,241 | €79,449 | +€14,208 | +21.8% |
| Total equity and liabilities | 10/49 | €3,687,198 | €3,558,406 | -€128,791 | -3.5% |
| Equity | 10/15 | €1,474,523 | €1,431,875 | -€42,648 | -2.9% |
| Contributions | 10/11 | €1,500,000 | €1,500,000 | = | 0.0% |
| Reserves | 13 | €95,441 | €95,441 | = | 0.0% |
| Non-distributable reserves | 130/1 | €46,409 | €46,409 | = | 0.0% |
| Reserves not available under the articles | 1311 | €46,409 | €46,409 | = | 0.0% |
| Distributable reserves | 133 | €49,032 | €49,032 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€120,918 | -€163,566 | -€42,648 | -35.3% |
| Amounts payable | 17/49 | €2,212,675 | €2,126,532 | -€86,144 | -3.9% |
| Amounts payable after more than one year | 17 | €2,208,065 | €2,035,555 | -€172,510 | -7.8% |
| Financial debts | 170/4 | €2,208,065 | €2,035,555 | -€172,510 | -7.8% |
| Amounts payable within one year | 42/48 | €0 | €83,658 | +€83,658 | |
| Current portion of amounts payable after more than one year | 42 | - | €83,658 | +€83,658 | |
| Trade debts | 44 | €0 | - | = | |
| Suppliers | 440/4 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | €4,610 | €7,319 | +€2,709 | +58.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,923 | €92,572 | +€650 | +0.7% |
| Other operating charges | 640/8 | €14,316 | €998 | -€13,317 | -93.0% |
| Gross operating margin | 9900 | €65,591 | €54,416 | -€11,175 | -17.0% |
| Operating profit (loss) | 9901 | -€40,647 | -€39,155 | +€1,492 | +3.7% |
| Financial income | 75/76B | €65,837 | €74,551 | +€8,714 | +13.2% |
| Recurring financial income | 75 | €65,837 | €74,551 | +€8,714 | +13.2% |
| Financial charges | 65/66B | €120,585 | €78,045 | -€42,541 | -35.3% |
| Recurring financial charges | 65 | €120,585 | €78,045 | -€42,541 | -35.3% |
| Profit (loss) for the period before taxes | 9903 | -€95,396 | -€42,648 | +€52,748 | +55.3% |
| Profit (loss) for the period | 9904 | -€95,396 | -€42,648 | +€52,748 | +55.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€95,396 | -€42,648 | +€52,748 | +55.3% |
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 14 October 2026 via checked.be.