L.N.E.: 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.N.E.
Largest movements
- Tangible fixed assets +€120,849
up €120,849 (+8.3%), from €1.5m to €1.6m
of which Land and buildings: +€124,517
- Other debts +€93,582
up €93,582 (+51.6%), from €181,527 to €275,109
- Reserves +€60,244
up €60,244 (+10.3%), from €584,614 to €644,858
of which Distributable reserves: +€80,381
- Debts after one year -€54,945
down €54,945 (-11.9%), from €459,821 to €404,876
- Tax, wage and social debts +€30,356
up €30,356 (+300.0%), from €10,118 to €40,474
- Gross operating margin +€50,993
up €50,993 (+39.7%), from €128,594 to €179,587
- Taxes +€30,356
up €30,356 (+300.0%), from €10,118 to €40,474
- Other operating charges -€10,353
down €10,353 (-38.3%), from €27,060 to €16,707
- Financial charges -€7,218
down €7,218 (-32.8%), from €22,011 to €14,793
- Financial income -€2,538
down €2,538 (-88.9%), from €2,856 to €318
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 | €1,458,671 | €1,576,972 | +€118,301 | +8.1% |
| Fixed assets | 21/28 | €1,452,015 | €1,572,864 | +€120,849 | +8.3% |
| Tangible fixed assets | 22/27 | €1,452,015 | €1,572,864 | +€120,849 | +8.3% |
| Land and buildings | 22 | €1,439,616 | €1,564,133 | +€124,517 | +8.6% |
| Furniture and vehicles | 24 | €12,399 | €8,731 | -€3,668 | -29.6% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €6,656 | €4,108 | -€2,548 | -38.3% |
| Amounts receivable within one year | 40/41 | €0 | - | = | |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €6,085 | €1,761 | -€4,324 | -71.1% |
| Deferred charges and accrued income | 490/1 | €571 | €2,347 | +€1,776 | +311.1% |
| Total equity and liabilities | 10/49 | €1,458,671 | €1,576,972 | +€118,301 | +8.1% |
| Equity | 10/15 | €646,614 | €706,858 | +€60,244 | +9.3% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €584,614 | €644,858 | +€60,244 | +10.3% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €475,002 | €454,865 | -€20,137 | -4.2% |
| Distributable reserves | 133 | €103,412 | €183,793 | +€80,381 | +77.7% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €88,966 | €84,502 | -€4,464 | -5.0% |
| Deferred taxes | 168 | €88,966 | €84,502 | -€4,464 | -5.0% |
| Amounts payable | 17/49 | €723,091 | €785,612 | +€62,521 | +8.6% |
| Amounts payable after more than one year | 17 | €459,821 | €404,876 | -€54,945 | -11.9% |
| Financial debts | 170/4 | €459,821 | €404,876 | -€54,945 | -11.9% |
| Amounts payable within one year | 42/48 | €259,771 | €380,737 | +€120,966 | +46.6% |
| Current portion of amounts payable after more than one year | 42 | €53,350 | €54,945 | +€1,595 | +3.0% |
| Trade debts | 44 | €14,775 | €10,209 | -€4,566 | -30.9% |
| Suppliers | 440/4 | €14,775 | €10,209 | -€4,566 | -30.9% |
| Taxes, remuneration and social security | 45 | €10,118 | €40,474 | +€30,356 | +300.0% |
| Taxes | 450/3 | €10,118 | €40,474 | +€30,356 | +300.0% |
| Other amounts payable | 47/48 | €181,527 | €275,109 | +€93,582 | +51.6% |
| Accrued charges and deferred income | 492/3 | €3,500 | €0 | -€3,500 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,182 | €52,151 | -€2,031 | -3.7% |
| Other operating charges | 640/8 | €27,060 | €16,707 | -€10,353 | -38.3% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €128,594 | €179,587 | +€50,993 | +39.7% |
| Operating profit (loss) | 9901 | €47,352 | €110,728 | +€63,376 | +133.8% |
| Financial income | 75/76B | €2,856 | €318 | -€2,538 | -88.9% |
| Recurring financial income | 75 | €2,856 | €318 | -€2,538 | -88.9% |
| Financial charges | 65/66B | €22,011 | €14,793 | -€7,218 | -32.8% |
| Recurring financial charges | 65 | €22,011 | €14,793 | -€7,218 | -32.8% |
| Profit (loss) for the period before taxes | 9903 | €28,198 | €96,253 | +€68,055 | +241.3% |
| Transfer from deferred taxes | 780 | €2,022 | €4,464 | +€2,442 | +120.8% |
| Income taxes | 67/77 | €10,118 | €40,474 | +€30,356 | +300.0% |
| Profit (loss) for the period | 9904 | €20,103 | €60,244 | +€40,141 | +199.7% |
| Transfer from tax-exempt reserves | 789 | €6,067 | €20,137 | +€14,070 | +231.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,169 | €80,380 | +€54,211 | +207.2% |
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 7 October 2026 via checked.be.