L&S MANAGEMENT: 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 MANAGEMENT
Largest movements
- Tangible fixed assets -€17,145
down €17,145 (-17.7%), from €96,643 to €79,499
- Debts after one year -€27,881
down €27,881 (-6.4%), from €438,214 to €410,332
of which Financial debts: -€20,208
- Reserves +€13,000
up €13,000 (+699%), from €1,860 to €14,860
- Gross operating margin -€1,991
down €1,991 (-3.5%), from €57,259 to €55,269
- Taxes +€895
up €895 (+16.2%), from €5,534 to €6,430
- Financial charges -€637
down €637 (-5.6%), from €11,293 to €10,656
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 | €673,784 | €657,013 | -€16,771 | -2.5% |
| Fixed assets | 21/28 | €671,643 | €654,499 | -€17,145 | -2.6% |
| Tangible fixed assets | 22/27 | €96,643 | €79,499 | -€17,145 | -17.7% |
| Land and buildings | 22 | €96,643 | €79,499 | -€17,145 | -17.7% |
| Financial fixed assets | 28 | €575,000 | €575,000 | = | 0.0% |
| Current assets | 29/58 | €2,141 | €2,514 | +€373 | +17.4% |
| Amounts receivable within one year | 40/41 | €216 | €216 | = | 0.0% |
| Other amounts receivable | 41 | €216 | €216 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €2 | €323 | +€320 | +13,067% |
| Deferred charges and accrued income | 490/1 | €1,923 | €1,976 | +€53 | +2.8% |
| Total equity and liabilities | 10/49 | €673,784 | €657,013 | -€16,771 | -2.5% |
| Equity | 10/15 | €112,525 | €126,615 | +€14,089 | +12.5% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,860 | €14,860 | +€13,000 | +699% |
| Distributable reserves | 133 | €1,860 | €14,860 | +€13,000 | +699% |
| Profit (loss) carried forward | 14 | €98,265 | €99,355 | +€1,089 | +1.1% |
| Amounts payable | 17/49 | €561,259 | €530,398 | -€30,861 | -5.5% |
| Amounts payable after more than one year | 17 | €438,214 | €410,332 | -€27,881 | -6.4% |
| Financial debts | 170/4 | €46,028 | €25,820 | -€20,208 | -43.9% |
| Other amounts payable | 178/9 | €392,186 | €384,513 | -€7,673 | -2.0% |
| Amounts payable within one year | 42/48 | €120,495 | €117,466 | -€3,029 | -2.5% |
| Current portion of amounts payable after more than one year | 42 | €19,819 | €20,208 | +€389 | +2.0% |
| Trade debts | 44 | €1,676 | - | -€1,676 | |
| Suppliers | 440/4 | €1,676 | - | -€1,676 | |
| Taxes, remuneration and social security | 45 | €7,017 | €3,820 | -€3,197 | -45.6% |
| Taxes | 450/3 | €7,017 | €3,820 | -€3,197 | -45.6% |
| Other amounts payable | 47/48 | €91,983 | €93,438 | +€1,454 | +1.6% |
| Accrued charges and deferred income | 492/3 | €2,550 | €2,600 | +€50 | +2.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,145 | €17,145 | = | 0.0% |
| Other operating charges | 640/8 | €6,738 | €6,949 | +€211 | +3.1% |
| Gross operating margin | 9900 | €57,259 | €55,269 | -€1,991 | -3.5% |
| Operating profit (loss) | 9901 | €33,377 | €31,175 | -€2,202 | -6.6% |
| Financial income | 75/76B | €54 | - | -€54 | |
| Recurring financial income | 75 | €54 | - | -€54 | |
| Financial charges | 65/66B | €11,293 | €10,656 | -€637 | -5.6% |
| Recurring financial charges | 65 | €11,293 | €10,656 | -€637 | -5.6% |
| Profit (loss) for the period before taxes | 9903 | €22,138 | €20,519 | -€1,618 | -7.3% |
| Income taxes | 67/77 | €5,534 | €6,430 | +€895 | +16.2% |
| Profit (loss) for the period | 9904 | €16,603 | €14,089 | -€2,514 | -15.1% |
| Profit (loss) for the period to be appropriated | 9905 | €16,603 | €14,089 | -€2,514 | -15.1% |
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 18 October 2026 via checked.be.