L.S.: 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.S.
Largest movements
- Stocks and contracts +€685,634
up €685,634 (+27.9%), from €2.5m to €3.1m
- Cash +€247,763
up €247,763 (+466.0%), from €53,166 to €300,929
mainly Trade debts (+€705,056) and Receivables within one year (+€149,026)
- Receivables within one year -€149,026
down €149,026 (-82.6%), from €180,483 to €31,457
of which Other amounts receivable: -€95,396
- Trade debts +€705,056
new in 2024: €705,056
- Reserves +€46,640
up €46,640 (+4.9%), from €950,391 to €997,031
of which Distributable reserves: +€46,640
- Gross operating margin -€291,683
down €291,683 (-74.7%), from €390,577 to €98,894
- Taxes -€98,173
down €98,173 (-81.1%), from €121,103 to €22,930
- Depreciation +€11,598
up €11,598 (+256.0%), from €4,531 to €16,129
- Other operating charges +€7,329
up €7,329 (+137.1%), from €5,345 to €12,674
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,769,744 | €3,541,683 | +€771,939 | +27.9% |
| Fixed assets | 21/28 | €74,973 | €62,541 | -€12,432 | -16.6% |
| Tangible fixed assets | 22/27 | €74,973 | €62,541 | -€12,432 | -16.6% |
| Plant, machinery and equipment | 23 | - | €3,469 | +€3,469 | |
| Furniture and vehicles | 24 | €74,973 | €59,072 | -€15,901 | -21.2% |
| Current assets | 29/58 | €2,694,771 | €3,479,142 | +€784,371 | +29.1% |
| Stocks and contracts in progress | 3 | €2,461,122 | €3,146,756 | +€685,634 | +27.9% |
| Stocks | 30/36 | €2,461,122 | €3,146,756 | +€685,634 | +27.9% |
| Amounts receivable within one year | 40/41 | €180,483 | €31,457 | -€149,026 | -82.6% |
| Trade receivables | 40 | €53,630 | - | -€53,630 | |
| Other amounts receivable | 41 | €126,853 | €31,457 | -€95,396 | -75.2% |
| Cash at bank and in hand | 54/58 | €53,166 | €300,929 | +€247,763 | +466.0% |
| Total equity and liabilities | 10/49 | €2,769,744 | €3,541,683 | +€771,939 | +27.9% |
| Equity | 10/15 | €1,421,832 | €1,468,472 | +€46,640 | +3.3% |
| Contributions | 10/11 | €471,441 | €471,441 | = | 0.0% |
| Capital | 10 | €471,441 | €471,441 | = | 0.0% |
| Issued capital | 100 | €471,441 | €471,441 | = | 0.0% |
| Reserves | 13 | €950,391 | €997,031 | +€46,640 | +4.9% |
| Non-distributable reserves | 130/1 | €47,144 | €47,144 | = | 0.0% |
| Legal reserve | 130 | €47,144 | €47,144 | = | 0.0% |
| Distributable reserves | 133 | €903,247 | €949,887 | +€46,640 | +5.2% |
| Amounts payable | 17/49 | €1,347,912 | €2,073,211 | +€725,300 | +53.8% |
| Amounts payable within one year | 42/48 | €1,298,421 | €2,023,585 | +€725,165 | +55.8% |
| Trade debts | 44 | - | €705,056 | +€705,056 | |
| Suppliers | 440/4 | - | €705,056 | +€705,056 | |
| Taxes, remuneration and social security | 45 | - | €13,327 | +€13,327 | |
| Taxes | 450/3 | - | €13,327 | +€13,327 | |
| Other amounts payable | 47/48 | €1,298,421 | €1,305,202 | +€6,781 | +0.5% |
| Accrued charges and deferred income | 492/3 | €49,491 | €49,626 | +€135 | +0.3% |
| Remuneration, social security and pensions | 62 | - | €104 | +€104 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,531 | €16,129 | +€11,598 | +256.0% |
| Other operating charges | 640/8 | €5,345 | €12,674 | +€7,329 | +137.1% |
| Gross operating margin | 9900 | €390,577 | €98,894 | -€291,683 | -74.7% |
| Operating profit (loss) | 9901 | €380,701 | €69,986 | -€310,715 | -81.6% |
| Financial income | 75/76B | €104 | - | -€104 | |
| Recurring financial income | 75 | €104 | - | -€104 | |
| Financial charges | 65/66B | €886 | €416 | -€470 | -53.0% |
| Recurring financial charges | 65 | €886 | €416 | -€470 | -53.0% |
| Profit (loss) for the period before taxes | 9903 | €379,919 | €69,570 | -€310,349 | -81.7% |
| Income taxes | 67/77 | €121,103 | €22,930 | -€98,173 | -81.1% |
| Profit (loss) for the period | 9904 | €258,816 | €46,640 | -€212,176 | -82.0% |
| Profit (loss) for the period to be appropriated | 9905 | €258,816 | €46,640 | -€212,176 | -82.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.