L.S.C.: 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.S.C.
Largest movements
- Receivables within one year -€402,056
down €402,056 (-98.8%), from €407,093 to €5,037
of which Other amounts receivable: -€272,191
- Stocks and contracts -€337,023
down €337,023 (-100.0%), from €337,023 to €0
- Receivables after one year +€271,000
new in 2025: €271,000
- Profit (loss) carried forward -€319,453
down €319,453 (-55.2%), from -€578,838 to -€898,291
- Other debts -€101,900
down €101,900 (-5.5%), from €1.9m to €1.8m
- Trade debts -€36,904
down €36,904 (-91.4%), from €40,371 to €3,467
- Gross operating margin -€108,091
down €108,091 (-52.5%), from -€205,812 to -€313,903
- Financial income +€20,000
new in 2025: €20,000
- Financial charges -€4,542
down €4,542 (-17.1%), from €26,566 to €22,024
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 | €1,582,350 | €1,124,882 | -€457,468 | -28.9% |
| Fixed assets | 21/28 | €826,513 | €825,642 | -€871 | -0.1% |
| Tangible fixed assets | 22/27 | €100,871 | €100,000 | -€871 | -0.9% |
| Land and buildings | 22 | €100,000 | €100,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €871 | €0 | -€871 | -100.0% |
| Financial fixed assets | 28 | €725,642 | €725,642 | = | 0.0% |
| Current assets | 29/58 | €755,837 | €299,240 | -€456,597 | -60.4% |
| Amounts receivable after more than one year | 29 | - | €271,000 | +€271,000 | |
| Other amounts receivable | 291 | - | €271,000 | +€271,000 | |
| Stocks and contracts in progress | 3 | €337,023 | €0 | -€337,023 | -100.0% |
| Stocks | 30/36 | €337,023 | €0 | -€337,023 | -100.0% |
| Amounts receivable within one year | 40/41 | €407,093 | €5,037 | -€402,056 | -98.8% |
| Trade receivables | 40 | €134,902 | €5,037 | -€129,865 | -96.3% |
| Other amounts receivable | 41 | €272,191 | €0 | -€272,191 | -100.0% |
| Cash at bank and in hand | 54/58 | €8,522 | €19,902 | +€11,380 | +133.5% |
| Deferred charges and accrued income | 490/1 | €3,199 | €3,301 | +€102 | +3.2% |
| Total equity and liabilities | 10/49 | €1,582,350 | €1,124,882 | -€457,468 | -28.9% |
| Equity | 10/15 | -€313,413 | -€632,866 | -€319,453 | -101.9% |
| Contributions | 10/11 | €130,145 | €130,145 | = | 0.0% |
| Capital | 10 | €130,145 | €130,145 | = | 0.0% |
| Issued capital | 100 | €130,145 | €130,145 | = | 0.0% |
| Reserves | 13 | €135,280 | €135,280 | = | 0.0% |
| Non-distributable reserves | 130/1 | €7,731 | €7,731 | = | 0.0% |
| Legal reserve | 130 | €7,731 | €7,731 | = | 0.0% |
| Distributable reserves | 133 | €127,550 | €127,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€578,838 | -€898,291 | -€319,453 | -55.2% |
| Amounts payable | 17/49 | €1,895,763 | €1,757,748 | -€138,015 | -7.3% |
| Amounts payable within one year | 42/48 | €1,895,763 | €1,757,427 | -€138,336 | -7.3% |
| Trade debts | 44 | €40,371 | €3,467 | -€36,904 | -91.4% |
| Suppliers | 440/4 | €40,371 | €3,467 | -€36,904 | -91.4% |
| Taxes, remuneration and social security | 45 | €1,042 | €1,509 | +€468 | +44.9% |
| Taxes | 450/3 | €1,042 | €1,509 | +€468 | +44.9% |
| Other amounts payable | 47/48 | €1,854,350 | €1,752,451 | -€101,900 | -5.5% |
| Accrued charges and deferred income | 492/3 | - | €321 | +€321 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,742 | €871 | -€871 | -50.0% |
| Other operating charges | 640/8 | €332 | €2,041 | +€1,709 | +514.7% |
| Non-recurring operating charges | 66A | - | €370 | +€370 | |
| Gross operating margin | 9900 | -€205,812 | -€313,903 | -€108,091 | -52.5% |
| Operating profit (loss) | 9901 | -€207,886 | -€317,185 | -€109,299 | -52.6% |
| Financial income | 75/76B | - | €20,000 | +€20,000 | |
| Recurring financial income | 75 | - | €20,000 | +€20,000 | |
| Financial charges | 65/66B | €26,566 | €22,024 | -€4,542 | -17.1% |
| Recurring financial charges | 65 | €26,566 | €22,024 | -€4,542 | -17.1% |
| Profit (loss) for the period before taxes | 9903 | -€234,452 | -€319,209 | -€84,757 | -36.2% |
| Income taxes | 67/77 | €267 | €244 | -€23 | -8.7% |
| Profit (loss) for the period | 9904 | -€234,719 | -€319,453 | -€84,734 | -36.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€234,719 | -€319,453 | -€84,734 | -36.1% |
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 11 October 2026 via checked.be.