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
- Tangible fixed assets -€49,171
down €49,171 (-3.9%), from €1.3m to €1.2m
of which Land and buildings: -€47,383
- Profit (loss) carried forward -€69,484
down €69,484 (-33.2%), from -€209,373 to -€278,857
- Other debts +€63,106
up €63,106 (+5.5%), from €1.1m to €1.2m
- Debts after one year -€34,107
down €34,107 (-11.0%), from €309,674 to €275,567
- Other operating charges -€10,146
down €10,146 (-91.0%), from €11,145 to €999
- Gross operating margin -€2,125
down €2,125 (-42.5%), from -€4,996 to -€7,121
- Financial charges -€1,431
down €1,431 (-8.0%), from €17,839 to €16,408
- Depreciation -€309
down €309 (-0.6%), from €49,480 to €49,171
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 | €1,513,956 | €1,464,471 | -€49,485 | -3.3% |
| Fixed assets | 21/28 | €1,507,080 | €1,457,909 | -€49,171 | -3.3% |
| Tangible fixed assets | 22/27 | €1,262,865 | €1,213,694 | -€49,171 | -3.9% |
| Land and buildings | 22 | €1,260,082 | €1,212,699 | -€47,383 | -3.8% |
| Plant, machinery and equipment | 23 | €2,425 | €995 | -€1,430 | -59.0% |
| Furniture and vehicles | 24 | €358 | - | -€358 | |
| Financial fixed assets | 28 | €244,215 | €244,215 | +€0 | 0.0% |
| Current assets | 29/58 | €6,877 | €6,562 | -€315 | -4.6% |
| Amounts receivable within one year | 40/41 | €4,757 | €4,734 | -€23 | -0.5% |
| Trade receivables | 40 | - | €9 | +€9 | |
| Other amounts receivable | 41 | €4,757 | €4,725 | -€32 | -0.7% |
| Cash at bank and in hand | 54/58 | €1,519 | €1,226 | -€293 | -19.3% |
| Deferred charges and accrued income | 490/1 | €600 | €602 | +€2 | +0.3% |
| Total equity and liabilities | 10/49 | €1,513,956 | €1,464,471 | -€49,485 | -3.3% |
| Equity | 10/15 | €15,499 | -€58,201 | -€73,700 | |
| Contributions | 10/11 | €151,286 | €151,286 | +€0 | 0.0% |
| Reserves | 13 | €73,586 | €69,370 | -€4,216 | -5.7% |
| Non-distributable reserves | 130/1 | €11,801 | €11,801 | -€0 | 0.0% |
| Reserves not available under the articles | 1311 | €11,801 | €11,801 | -€0 | 0.0% |
| Tax-exempt reserves | 132 | €61,784 | €57,569 | -€4,215 | -6.8% |
| Profit (loss) carried forward | 14 | -€209,373 | -€278,857 | -€69,484 | -33.2% |
| Amounts payable | 17/49 | €1,498,458 | €1,522,672 | +€24,214 | +1.6% |
| Amounts payable after more than one year | 17 | €309,674 | €275,567 | -€34,107 | -11.0% |
| Financial debts | 170/4 | €309,674 | €275,567 | -€34,107 | -11.0% |
| Amounts payable within one year | 42/48 | €1,188,783 | €1,247,105 | +€58,322 | +4.9% |
| Current portion of amounts payable after more than one year | 42 | €36,523 | €34,108 | -€2,415 | -6.6% |
| Trade debts | 44 | €2,369 | - | -€2,369 | |
| Suppliers | 440/4 | €2,369 | - | -€2,369 | |
| Other amounts payable | 47/48 | €1,149,891 | €1,212,997 | +€63,106 | +5.5% |
| Non-recurring operating income | 76A | €5,659 | - | -€5,659 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,480 | €49,171 | -€309 | -0.6% |
| Other operating charges | 640/8 | €11,145 | €999 | -€10,146 | -91.0% |
| Gross operating margin | 9900 | -€4,996 | -€7,121 | -€2,125 | -42.5% |
| Operating profit (loss) | 9901 | -€65,620 | -€57,291 | +€8,329 | +12.7% |
| Financial charges | 65/66B | €17,839 | €16,408 | -€1,431 | -8.0% |
| Recurring financial charges | 65 | €17,839 | €16,408 | -€1,431 | -8.0% |
| Profit (loss) for the period before taxes | 9903 | -€83,460 | -€73,699 | +€9,761 | +11.7% |
| Profit (loss) for the period | 9904 | -€83,460 | -€73,699 | +€9,761 | +11.7% |
| Transfer from tax-exempt reserves | 789 | €4,215 | €4,215 | -€0 | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€79,244 | -€69,484 | +€9,760 | +12.3% |
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 22 October 2026 via checked.be.