L.S.P.: 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.P.
Largest movements
- Receivables within one year -€56,828
down €56,828 (-40.9%), from €138,967 to €82,138
of which Other amounts receivable: -€63,457
- Tangible fixed assets -€27,113
down €27,113 (-27.7%), from €97,737 to €70,624
of which Other tangible fixed assets: -€18,075
- Cash -€7,879
down €7,879 (-10.6%), from €74,331 to €66,452
mainly Contributions, distributions and other (-€40,000) and Other debts (-€25,000)
- Profit (loss) carried forward -€36,932
down €36,932 (-95.7%), from €38,591 to €1,659
- Other debts -€25,000
down €25,000 (-38.5%), from €65,000 to €40,000
- Debts after one year -€13,750
down €13,750 (-42.6%), from €32,259 to €18,510
- Current portion of long-term debt -€10,833
down €10,833 (-26.8%), from €40,435 to €29,603
- Reserves -€10,384
down €10,384 (-31.0%), from €33,479 to €23,095
of which Tax-exempt reserves: -€10,384
- Staff costs +€68,572
up €68,572 (+71.3%), from €96,133 to €164,706
- Other operating charges +€62,517
up €62,517 (+1,729%), from €3,616 to €66,133
- Gross operating margin +€50,124
up €50,124 (+21.5%), from €233,137 to €283,260
- Financial charges -€6,504
down €6,504 (-73.0%), from €8,909 to €2,406
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 | €312,942 | €220,968 | -€91,974 | -29.4% |
| Fixed assets | 21/28 | €97,869 | €70,735 | -€27,134 | -27.7% |
| Intangible fixed assets | 21 | €21 | - | -€21 | |
| Tangible fixed assets | 22/27 | €97,737 | €70,624 | -€27,113 | -27.7% |
| Furniture and vehicles | 24 | €40,940 | €31,902 | -€9,038 | -22.1% |
| Other tangible fixed assets | 26 | €56,797 | €38,722 | -€18,075 | -31.8% |
| Financial fixed assets | 28 | €112 | €112 | = | 0.0% |
| Current assets | 29/58 | €215,073 | €150,233 | -€64,840 | -30.1% |
| Amounts receivable within one year | 40/41 | €138,967 | €82,138 | -€56,828 | -40.9% |
| Trade receivables | 40 | €44,246 | €50,875 | +€6,629 | +15.0% |
| Other amounts receivable | 41 | €94,720 | €31,264 | -€63,457 | -67.0% |
| Cash at bank and in hand | 54/58 | €74,331 | €66,452 | -€7,879 | -10.6% |
| Deferred charges and accrued income | 490/1 | €1,775 | €1,642 | -€133 | -7.5% |
| Total equity and liabilities | 10/49 | €312,942 | €220,968 | -€91,974 | -29.4% |
| Equity | 10/15 | €137,070 | €89,754 | -€47,316 | -34.5% |
| Contributions | 10/11 | €65,000 | €65,000 | = | 0.0% |
| Capital | 10 | €65,000 | €65,000 | = | 0.0% |
| Issued capital | 100 | €65,000 | €65,000 | = | 0.0% |
| Reserves | 13 | €33,479 | €23,095 | -€10,384 | -31.0% |
| Non-distributable reserves | 130/1 | €6,500 | €6,500 | = | 0.0% |
| Legal reserve | 130 | €6,500 | €6,500 | = | 0.0% |
| Tax-exempt reserves | 132 | €26,979 | €16,595 | -€10,384 | -38.5% |
| Profit (loss) carried forward | 14 | €38,591 | €1,659 | -€36,932 | -95.7% |
| Provisions and deferred taxes | 16 | €8,993 | €5,532 | -€3,461 | -38.5% |
| Deferred taxes | 168 | €8,993 | €5,532 | -€3,461 | -38.5% |
| Amounts payable | 17/49 | €166,879 | €125,682 | -€41,197 | -24.7% |
| Amounts payable after more than one year | 17 | €32,259 | €18,510 | -€13,750 | -42.6% |
| Financial debts | 170/4 | €32,259 | €18,510 | -€13,750 | -42.6% |
| Amounts payable within one year | 42/48 | €133,420 | €107,173 | -€26,247 | -19.7% |
| Current portion of amounts payable after more than one year | 42 | €40,435 | €29,603 | -€10,833 | -26.8% |
| Trade debts | 44 | €5,743 | €5,592 | -€151 | -2.6% |
| Suppliers | 440/4 | €5,743 | €5,592 | -€151 | -2.6% |
| Taxes, remuneration and social security | 45 | €22,242 | €31,978 | +€9,737 | +43.8% |
| Taxes | 450/3 | €2,709 | €2,751 | +€42 | +1.6% |
| Remuneration and social security | 454/9 | €19,533 | €29,227 | +€9,694 | +49.6% |
| Other amounts payable | 47/48 | €65,000 | €40,000 | -€25,000 | -38.5% |
| Accrued charges and deferred income | 492/3 | €1,200 | - | -€1,200 | |
| Remuneration, social security and pensions | 62 | €96,133 | €164,706 | +€68,572 | +71.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,458 | €33,042 | +€584 | +1.8% |
| Other operating charges | 640/8 | €3,616 | €66,133 | +€62,517 | +1,729% |
| Gross operating margin | 9900 | €233,137 | €283,260 | +€50,124 | +21.5% |
| Operating profit (loss) | 9901 | €100,929 | €19,380 | -€81,549 | -80.8% |
| Financial charges | 65/66B | €8,909 | €2,406 | -€6,504 | -73.0% |
| Recurring financial charges | 65 | €8,909 | €2,406 | -€6,504 | -73.0% |
| Profit (loss) for the period before taxes | 9903 | €92,019 | €16,974 | -€75,045 | -81.6% |
| Transfer from deferred taxes | 780 | €3,461 | €3,461 | = | 0.0% |
| Income taxes | 67/77 | €30,459 | €27,751 | -€2,708 | -8.9% |
| Profit (loss) for the period | 9904 | €65,022 | -€7,316 | -€72,337 | |
| Transfer from tax-exempt reserves | 789 | €10,384 | €10,384 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €75,405 | €3,068 | -€72,337 | -95.9% |
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 16 October 2026 via checked.be.