L.S. COLOR: what changed
L.S. COLOR
Largest movements
- Receivables within one year +€67,489
up €67,489 (+233%), from €29,005 to €96,494
of which Other amounts receivable: +€74,542
- Tangible fixed assets -€39,313
down €39,313 (-48.8%), from €80,532 to €41,219
- Cash -€20,020
down €20,020 (-41.1%), from €48,709 to €28,689
mainly Receivables within one year (-€67,489) and Current portion of long-term debt (-€19,430)
- Short-term financial debts +€50,000
new in 2025: €50,000
- Current portion of long-term debt -€19,430
down €19,430 (-66.2%), from €29,365 to €9,935
- Debts after one year -€9,935
down €9,935 (-7.0%), from €142,737 to €132,802
- Trade debts -€8,369
down €8,369 (-48.0%), from €17,426 to €9,057
- Tax, wage and social debts -€2,571
down €2,571 (-11.1%), from €23,119 to €20,548
of which Taxes: -€2,607
- Gross operating margin -€21,061
down €21,061 (-27.7%), from €76,032 to €54,971
- Other operating charges -€5,777
down €5,777 (-78.5%), from €7,359 to €1,582
- Financial income +€2,167
up €2,167 (+973%), from €223 to €2,390
- Taxes -€1,792
down €1,792 (-14.3%), from €12,557 to €10,765
- Financial charges -€1,717
down €1,717 (-22.2%), from €7,740 to €6,023
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €160,464 | €168,630 | +€8,166 | +5.1% |
| Fixed assets | 21/28 | €80,532 | €41,219 | -€39,313 | -48.8% |
| Tangible fixed assets | 22/27 | €80,532 | €41,219 | -€39,313 | -48.8% |
| Furniture and vehicles | 24 | €80,532 | €41,219 | -€39,313 | -48.8% |
| Current assets | 29/58 | €79,932 | €127,411 | +€47,479 | +59.4% |
| Amounts receivable within one year | 40/41 | €29,005 | €96,494 | +€67,489 | +233% |
| Trade receivables | 40 | €21,664 | €14,612 | -€7,052 | -32.6% |
| Other amounts receivable | 41 | €7,341 | €81,883 | +€74,542 | +1,015% |
| Cash at bank and in hand | 54/58 | €48,709 | €28,689 | -€20,020 | -41.1% |
| Deferred charges and accrued income | 490/1 | €2,219 | €2,228 | +€9 | +0.4% |
| Total equity and liabilities | 10/49 | €160,464 | €168,630 | +€8,166 | +5.1% |
| Equity | 10/15 | -€52,182 | -€53,711 | -€1,529 | -2.9% |
| Contributions | 10/11 | €55,776 | €55,776 | = | 0.0% |
| Reserves | 13 | €101,979 | €101,979 | = | 0.0% |
| Distributable reserves | 133 | €101,979 | €101,979 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€209,938 | -€211,467 | -€1,529 | -0.7% |
| Amounts payable | 17/49 | €212,646 | €222,341 | +€9,695 | +4.6% |
| Amounts payable after more than one year | 17 | €142,737 | €132,802 | -€9,935 | -7.0% |
| Financial debts | 170/4 | €142,737 | €132,802 | -€9,935 | -7.0% |
| Amounts payable within one year | 42/48 | €69,909 | €89,539 | +€19,630 | +28.1% |
| Current portion of amounts payable after more than one year | 42 | €29,365 | €9,935 | -€19,430 | -66.2% |
| Financial debts | 43 | - | €50,000 | +€50,000 | |
| Credit institutions | 430/8 | - | €50,000 | +€50,000 | |
| Trade debts | 44 | €17,426 | €9,057 | -€8,369 | -48.0% |
| Suppliers | 440/4 | €17,426 | €9,057 | -€8,369 | -48.0% |
| Taxes, remuneration and social security | 45 | €23,119 | €20,548 | -€2,571 | -11.1% |
| Taxes | 450/3 | €23,119 | €20,512 | -€2,607 | -11.3% |
| Remuneration and social security | 454/9 | - | €35 | +€35 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,956 | €40,520 | +€563 | +1.4% |
| Other operating charges | 640/8 | €7,359 | €1,582 | -€5,777 | -78.5% |
| Non-recurring operating charges | 66A | €14,091 | - | -€14,091 | |
| Gross operating margin | 9900 | €76,032 | €54,971 | -€21,061 | -27.7% |
| Operating profit (loss) | 9901 | €14,626 | €12,870 | -€1,756 | -12.0% |
| Financial income | 75/76B | €223 | €2,390 | +€2,167 | +973% |
| Recurring financial income | 75 | €223 | €2,390 | +€2,167 | +973% |
| Financial charges | 65/66B | €7,740 | €6,023 | -€1,717 | -22.2% |
| Recurring financial charges | 65 | €7,740 | €6,023 | -€1,717 | -22.2% |
| Profit (loss) for the period before taxes | 9903 | €7,108 | €9,236 | +€2,128 | +29.9% |
| Income taxes | 67/77 | €12,557 | €10,765 | -€1,792 | -14.3% |
| Profit (loss) for the period | 9904 | -€5,449 | -€1,529 | +€3,920 | +71.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,449 | -€1,529 | +€3,920 | +71.9% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 8 November 2026 via checked.be.