L&N: 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&N
Largest movements
- Tangible fixed assets -€8,755
down €8,755 (-4.1%), from €211,779 to €203,024
of which Land and buildings: -€11,023
- Other debts -€37,997
down €37,997 (-33.2%), from €114,456 to €76,459
- Tax, wage and social debts +€20,804
up €20,804 (+115%), from €18,122 to €38,927
- Reserves +€15,497
up €15,497 (+56.7%), from €27,319 to €42,816
- Debts after one year -€6,032
down €6,032 (-100%), from €6,032 to €0
- Current portion of long-term debt -€4,223
down €4,223 (-41.2%), from €10,255 to €6,032
- Taxes +€11,503
up €11,503 (+103%), from €11,167 to €22,670
- Gross operating margin +€6,834
up €6,834 (+14.6%), from €46,785 to €53,619
- Other operating charges +€830
up €830 (+29.0%), from €2,867 to €3,697
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 | €215,449 | €205,989 | -€9,461 | -4.4% |
| Fixed assets | 21/28 | €211,779 | €203,024 | -€8,755 | -4.1% |
| Tangible fixed assets | 22/27 | €211,779 | €203,024 | -€8,755 | -4.1% |
| Land and buildings | 22 | €211,779 | €200,756 | -€11,023 | -5.2% |
| Furniture and vehicles | 24 | €0 | €2,268 | +€2,268 | |
| Current assets | 29/58 | €3,671 | €2,965 | -€706 | -19.2% |
| Cash at bank and in hand | 54/58 | €817 | €172 | -€645 | -78.9% |
| Deferred charges and accrued income | 490/1 | €2,854 | €2,793 | -€61 | -2.1% |
| Total equity and liabilities | 10/49 | €215,449 | €205,989 | -€9,461 | -4.4% |
| Equity | 10/15 | €63,319 | €78,816 | +€15,497 | +24.5% |
| Contributions | 10/11 | €36,000 | €36,000 | = | 0.0% |
| Reserves | 13 | €27,319 | €42,816 | +€15,497 | +56.7% |
| Distributable reserves | 133 | €27,319 | €42,816 | +€15,497 | +56.7% |
| Amounts payable | 17/49 | €152,130 | €127,172 | -€24,958 | -16.4% |
| Amounts payable after more than one year | 17 | €6,032 | €0 | -€6,032 | -100% |
| Financial debts | 170/4 | €6,032 | €0 | -€6,032 | -100% |
| Amounts payable within one year | 42/48 | €146,099 | €127,172 | -€18,926 | -13.0% |
| Current portion of amounts payable after more than one year | 42 | €10,255 | €6,032 | -€4,223 | -41.2% |
| Trade debts | 44 | €3,265 | €5,755 | +€2,490 | +76.2% |
| Suppliers | 440/4 | €3,265 | €5,755 | +€2,490 | +76.2% |
| Taxes, remuneration and social security | 45 | €18,122 | €38,927 | +€20,804 | +115% |
| Taxes | 450/3 | €18,122 | €38,927 | +€20,804 | +115% |
| Other amounts payable | 47/48 | €114,456 | €76,459 | -€37,997 | -33.2% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,103 | €11,501 | +€398 | +3.6% |
| Other operating charges | 640/8 | €2,867 | €3,697 | +€830 | +29.0% |
| Gross operating margin | 9900 | €46,785 | €53,619 | +€6,834 | +14.6% |
| Operating profit (loss) | 9901 | €32,815 | €38,421 | +€5,606 | +17.1% |
| Financial charges | 65/66B | €484 | €254 | -€230 | -47.6% |
| Recurring financial charges | 65 | €484 | €254 | -€230 | -47.6% |
| Profit (loss) for the period before taxes | 9903 | €32,331 | €38,167 | +€5,836 | +18.1% |
| Income taxes | 67/77 | €11,167 | €22,670 | +€11,503 | +103% |
| Profit (loss) for the period | 9904 | €21,164 | €15,497 | -€5,666 | -26.8% |
| Profit (loss) for the period to be appropriated | 9905 | €21,164 | €15,497 | -€5,666 | -26.8% |
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 26 October 2026 via checked.be.