L-phabet Group: 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-phabet Group
Largest movements
- Financial fixed assets +€60,000
up €60,000 (+97,308%), from €62 to €60,062
- Receivables within one year -€48,820
down €48,820 (-86.6%), from €56,344 to €7,524
of which Trade receivables: -€26,690
- Tangible fixed assets +€28,932
up €28,932 (+365%), from €7,928 to €36,860
- Cash +€9,972
up €9,972 (+480%), from €2,080 to €12,052
mainly Receivables within one year (+€48,820) and Net result for the year (+€22,713)
- Reserves +€22,713
up €22,713 (+58.0%), from €39,157 to €61,870
- Debts after one year +€16,573
new in 2025: €16,573
- Current portion of long-term debt +€6,898
new in 2025: €6,898
- Other debts +€3,533
new in 2025: €3,533
- Gross operating margin -€15,161
down €15,161 (-26.8%), from €56,470 to €41,310
- Taxes -€6,634
down €6,634 (-46.2%), from €14,346 to €7,713
- Depreciation +€5,951
up €5,951 (+195%), from €3,049 to €8,999
- Financial charges +€988
up €988 (+1,082%), from €91 to €1,079
- Financial income -€585
no longer reported in 2025 (was €585)
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 | €66,413 | €116,498 | +€50,085 | +75.4% |
| Fixed assets | 21/28 | €7,990 | €96,922 | +€88,932 | +1,113% |
| Tangible fixed assets | 22/27 | €7,928 | €36,860 | +€28,932 | +365% |
| Furniture and vehicles | 24 | €7,928 | €36,860 | +€28,932 | +365% |
| Financial fixed assets | 28 | €62 | €60,062 | +€60,000 | +97,308% |
| Current assets | 29/58 | €58,423 | €19,576 | -€38,847 | -66.5% |
| Amounts receivable within one year | 40/41 | €56,344 | €7,524 | -€48,820 | -86.6% |
| Trade receivables | 40 | €34,209 | €7,519 | -€26,690 | -78.0% |
| Other amounts receivable | 41 | €22,135 | €5 | -€22,130 | -100.0% |
| Cash at bank and in hand | 54/58 | €2,080 | €12,052 | +€9,972 | +480% |
| Total equity and liabilities | 10/49 | €66,413 | €116,498 | +€50,085 | +75.4% |
| Equity | 10/15 | €41,157 | €63,870 | +€22,713 | +55.2% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €39,157 | €61,870 | +€22,713 | +58.0% |
| Distributable reserves | 133 | €39,157 | €61,870 | +€22,713 | +58.0% |
| Amounts payable | 17/49 | €25,256 | €52,627 | +€27,371 | +108% |
| Amounts payable after more than one year | 17 | - | €16,573 | +€16,573 | |
| Financial debts | 170/4 | - | €16,573 | +€16,573 | |
| Amounts payable within one year | 42/48 | €25,256 | €36,054 | +€10,798 | +42.8% |
| Current portion of amounts payable after more than one year | 42 | - | €6,898 | +€6,898 | |
| Trade debts | 44 | €1,168 | €1,306 | +€138 | +11.8% |
| Suppliers | 440/4 | €1,168 | €1,306 | +€138 | +11.8% |
| Taxes, remuneration and social security | 45 | €24,088 | €24,317 | +€229 | +0.9% |
| Taxes | 450/3 | €21,709 | €21,916 | +€207 | +1.0% |
| Remuneration and social security | 454/9 | €2,379 | €2,401 | +€22 | +0.9% |
| Other amounts payable | 47/48 | - | €3,533 | +€3,533 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,049 | €8,999 | +€5,951 | +195% |
| Other operating charges | 640/8 | €412 | €805 | +€394 | +95.6% |
| Gross operating margin | 9900 | €56,470 | €41,310 | -€15,161 | -26.8% |
| Operating profit (loss) | 9901 | €53,010 | €31,505 | -€21,505 | -40.6% |
| Financial income | 75/76B | €585 | - | -€585 | |
| Recurring financial income | 75 | €585 | - | -€585 | |
| Financial charges | 65/66B | €91 | €1,079 | +€988 | +1,082% |
| Recurring financial charges | 65 | €91 | €1,079 | +€988 | +1,082% |
| Profit (loss) for the period before taxes | 9903 | €53,504 | €30,426 | -€23,077 | -43.1% |
| Income taxes | 67/77 | €14,346 | €7,713 | -€6,634 | -46.2% |
| Profit (loss) for the period | 9904 | €39,157 | €22,713 | -€16,444 | -42.0% |
| Profit (loss) for the period to be appropriated | 9905 | €39,157 | €22,713 | -€16,444 | -42.0% |
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 28 October 2026 via checked.be.