L&R ACADEMY: 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&R ACADEMY
Largest movements
- Cash -€7,025
down €7,025 (-97.5%), from €7,207 to €182
mainly Net result for the year (-€13,586) and Trade debts (-€5,590)
- Stocks and contracts -€7,000
no longer reported in 2025 (was €7,000)
- Tangible fixed assets -€5,269
down €5,269 (-18.6%), from €28,257 to €22,988
of which Other tangible fixed assets: -€4,245
- Profit (loss) carried forward -€13,586
down €13,586 (-68.5%), from -€19,838 to -€33,424
- Trade debts -€5,590
down €5,590 (-22.1%), from €25,273 to €19,683
- Tax, wage and social debts -€714
down €714 (-47.4%), from €1,506 to €792
- Gross operating margin -€5,096
down €5,096 (-287%), from -€1,774 to -€6,870
- Other operating charges -€2,108
down €2,108 (-81.8%), from €2,578 to €470
- Depreciation +€1,472
up €1,472 (+38.8%), from €3,797 to €5,269
- Financial charges +€774
up €774 (+379%), from €204 to €978
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 | €42,784 | €23,169 | -€19,615 | -45.8% |
| Fixed assets | 21/28 | €28,257 | €22,988 | -€5,269 | -18.6% |
| Tangible fixed assets | 22/27 | €28,257 | €22,988 | -€5,269 | -18.6% |
| Plant, machinery and equipment | 23 | - | €1,936 | +€1,936 | |
| Furniture and vehicles | 24 | €2,960 | - | -€2,960 | |
| Other tangible fixed assets | 26 | €25,297 | €21,052 | -€4,245 | -16.8% |
| Current assets | 29/58 | €14,528 | €182 | -€14,346 | -98.7% |
| Stocks and contracts in progress | 3 | €7,000 | - | -€7,000 | |
| Stocks | 30/36 | €7,000 | - | -€7,000 | |
| Amounts receivable within one year | 40/41 | €321 | - | -€321 | |
| Other amounts receivable | 41 | €321 | - | -€321 | |
| Cash at bank and in hand | 54/58 | €7,207 | €182 | -€7,025 | -97.5% |
| Total equity and liabilities | 10/49 | €42,784 | €23,169 | -€19,615 | -45.8% |
| Equity | 10/15 | -€13,638 | -€27,224 | -€13,586 | -99.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,838 | -€33,424 | -€13,586 | -68.5% |
| Amounts payable | 17/49 | €56,422 | €50,393 | -€6,029 | -10.7% |
| Amounts payable within one year | 42/48 | €56,422 | €50,393 | -€6,029 | -10.7% |
| Trade debts | 44 | €25,273 | €19,683 | -€5,590 | -22.1% |
| Suppliers | 440/4 | €25,273 | €19,683 | -€5,590 | -22.1% |
| Taxes, remuneration and social security | 45 | €1,506 | €792 | -€714 | -47.4% |
| Taxes | 450/3 | €1,506 | €792 | -€714 | -47.4% |
| Other amounts payable | 47/48 | €29,643 | €29,918 | +€275 | +0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,797 | €5,269 | +€1,472 | +38.8% |
| Other operating charges | 640/8 | €2,578 | €470 | -€2,108 | -81.8% |
| Gross operating margin | 9900 | -€1,774 | -€6,870 | -€5,096 | -287% |
| Operating profit (loss) | 9901 | -€8,149 | -€12,608 | -€4,460 | -54.7% |
| Financial charges | 65/66B | €204 | €978 | +€774 | +379% |
| Recurring financial charges | 65 | €204 | €978 | +€774 | +379% |
| Profit (loss) for the period before taxes | 9903 | -€8,353 | -€13,586 | -€5,233 | -62.7% |
| Profit (loss) for the period | 9904 | -€8,353 | -€13,586 | -€5,233 | -62.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€8,353 | -€13,586 | -€5,233 | -62.7% |
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 27 October 2026 via checked.be.