L&S Concept: 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 Concept
Largest movements
- Tangible fixed assets +€426,986
up €426,986 (+850.5%), from €50,204 to €477,190
of which Other tangible fixed assets: +€419,656
- Cash +€326,939
up €326,939 (+3662.4%), from €8,927 to €335,866
mainly Debts after one year (+€437,104) and Other debts (+€270,697)
- Debts after one year +€437,104
up €437,104 (+1366.6%), from €31,984 to €469,088
- Other debts +€270,697
up €270,697 (+53232.4%), from €509 to €271,206
- Current portion of long-term debt +€52,675
new in 2025: €52,675
- Trade debts +€18,997
up €18,997 (+4904.5%), from €387 to €19,385
- Profit (loss) carried forward -€18,540
down €18,540 (-68.1%), from -€27,206 to -€45,746
- Gross operating margin -€5,290
down €5,290 (-75.7%), from -€6,988 to -€12,279
- Financial charges +€4,855
up €4,855 (+3572.1%), from €136 to €4,991
- Depreciation +€215
up €215 (+32.9%), from €655 to €870
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 | €65,743 | €828,680 | +€762,936 | +1160.5% |
| Fixed assets | 21/28 | €53,654 | €487,480 | +€433,826 | +808.6% |
| Intangible fixed assets | 21 | €1,951 | €8,790 | +€6,840 | +350.6% |
| Tangible fixed assets | 22/27 | €50,204 | €477,190 | +€426,986 | +850.5% |
| Plant, machinery and equipment | 23 | €12,397 | €19,726 | +€7,330 | +59.1% |
| Furniture and vehicles | 24 | €2,403 | €2,403 | = | 0.0% |
| Other tangible fixed assets | 26 | €35,404 | €455,060 | +€419,656 | +1185.3% |
| Financial fixed assets | 28 | €1,500 | €1,500 | = | 0.0% |
| Current assets | 29/58 | €12,089 | €341,200 | +€329,111 | +2722.4% |
| Amounts receivable within one year | 40/41 | €3,162 | €5,333 | +€2,171 | +68.7% |
| Trade receivables | 40 | €558 | €0 | -€558 | -100.0% |
| Other amounts receivable | 41 | €2,604 | €5,333 | +€2,730 | +104.8% |
| Cash at bank and in hand | 54/58 | €8,927 | €335,866 | +€326,939 | +3662.4% |
| Total equity and liabilities | 10/49 | €65,743 | €828,680 | +€762,936 | +1160.5% |
| Equity | 10/15 | €32,794 | €14,254 | -€18,540 | -56.5% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,206 | -€45,746 | -€18,540 | -68.1% |
| Amounts payable | 17/49 | €32,950 | €814,425 | +€781,476 | +2371.7% |
| Amounts payable after more than one year | 17 | €31,984 | €469,088 | +€437,104 | +1366.6% |
| Financial debts | 170/4 | €31,984 | €469,088 | +€437,104 | +1366.6% |
| Amounts payable within one year | 42/48 | €944 | €343,290 | +€342,346 | +36274.7% |
| Current portion of amounts payable after more than one year | 42 | - | €52,675 | +€52,675 | |
| Trade debts | 44 | €387 | €19,385 | +€18,997 | +4904.5% |
| Suppliers | 440/4 | €387 | €19,385 | +€18,997 | +4904.5% |
| Taxes, remuneration and social security | 45 | €48 | €25 | -€23 | -47.8% |
| Taxes | 450/3 | €48 | €25 | -€23 | -47.8% |
| Other amounts payable | 47/48 | €509 | €271,206 | +€270,697 | +53232.4% |
| Accrued charges and deferred income | 492/3 | €22 | €2,047 | +€2,025 | +9243.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €655 | €870 | +€215 | +32.9% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Non-recurring operating charges | 66A | €2,340 | €0 | -€2,340 | -100.0% |
| Gross operating margin | 9900 | -€6,988 | -€12,279 | -€5,290 | -75.7% |
| Operating profit (loss) | 9901 | -€10,371 | -€13,549 | -€3,178 | -30.6% |
| Financial charges | 65/66B | €136 | €4,991 | +€4,855 | +3572.1% |
| Recurring financial charges | 65 | €136 | €4,991 | +€4,855 | +3572.1% |
| Profit (loss) for the period before taxes | 9903 | -€10,507 | -€18,540 | -€8,033 | -76.5% |
| Profit (loss) for the period | 9904 | -€10,507 | -€18,540 | -€8,033 | -76.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,507 | -€18,540 | -€8,033 | -76.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.