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
- Cash +€788,283
up €788,283 (+673%), from €117,104 to €905,387
mainly Receivables within one year (+€740,319) and Net result for the year (+€284,372)
- Receivables within one year -€740,319
down €740,319 (-34.4%), from €2.1m to €1.4m
of which Other amounts receivable: -€767,546
- Tangible fixed assets +€289,887
up €289,887 (+49.6%), from €584,655 to €874,542
of which Land and buildings: +€301,914
- Reserves +€284,372
up €284,372 (+8.2%), from €3.5m to €3.8m
of which Distributable reserves: +€284,372
- Financial income +€302,362
up €302,362 (+2,573%), from €11,753 to €314,116
of which Financial income: +€314,116
- Gross operating margin -€256,741
down €256,741 (-54.6%), from €470,093 to €213,352
- Taxes -€64,907
down €64,907 (-68.6%), from €94,548 to €29,641
- Staff costs +€24,933
up €24,933 (+19.9%), from €125,526 to €150,459
- Depreciation +€15,413
up €15,413 (+73.1%), from €21,084 to €36,497
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 | €3,603,629 | €3,939,091 | +€335,462 | +9.3% |
| Fixed assets | 21/28 | €1,334,655 | €1,624,542 | +€289,887 | +21.7% |
| Tangible fixed assets | 22/27 | €584,655 | €874,542 | +€289,887 | +49.6% |
| Land and buildings | 22 | €539,512 | €841,426 | +€301,914 | +56.0% |
| Furniture and vehicles | 24 | €45,143 | €33,116 | -€12,027 | -26.6% |
| Financial fixed assets | 28 | €750,000 | €750,000 | = | 0.0% |
| Current assets | 29/58 | €2,268,973 | €2,314,549 | +€45,576 | +2.0% |
| Amounts receivable within one year | 40/41 | €2,149,482 | €1,409,162 | -€740,319 | -34.4% |
| Trade receivables | 40 | €52,894 | €80,120 | +€27,227 | +51.5% |
| Other amounts receivable | 41 | €2,096,588 | €1,329,042 | -€767,546 | -36.6% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €117,104 | €905,387 | +€788,283 | +673% |
| Deferred charges and accrued income | 490/1 | €2,387 | €0 | -€2,387 | -100% |
| Total equity and liabilities | 10/49 | €3,603,629 | €3,939,091 | +€335,462 | +9.3% |
| Equity | 10/15 | €3,536,063 | €3,820,435 | +€284,372 | +8.0% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €3,474,063 | €3,758,435 | +€284,372 | +8.2% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €3,467,863 | €3,752,235 | +€284,372 | +8.2% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €67,566 | €118,656 | +€51,090 | +75.6% |
| Amounts payable within one year | 42/48 | €64,637 | €112,944 | +€48,308 | +74.7% |
| Trade debts | 44 | €42,280 | €51,101 | +€8,821 | +20.9% |
| Suppliers | 440/4 | €42,280 | €51,101 | +€8,821 | +20.9% |
| Taxes, remuneration and social security | 45 | €22,357 | €41,843 | +€19,487 | +87.2% |
| Taxes | 450/3 | €22,102 | €25,332 | +€3,230 | +14.6% |
| Remuneration and social security | 454/9 | €255 | €16,511 | +€16,256 | +6,377% |
| Other amounts payable | 47/48 | - | €20,000 | +€20,000 | |
| Accrued charges and deferred income | 492/3 | €2,929 | €5,712 | +€2,783 | +95.0% |
| Remuneration, social security and pensions | 62 | €125,526 | €150,459 | +€24,933 | +19.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,084 | €36,497 | +€15,413 | +73.1% |
| Other operating charges | 640/8 | €25,878 | €26,209 | +€331 | +1.3% |
| Gross operating margin | 9900 | €470,093 | €213,352 | -€256,741 | -54.6% |
| Operating profit (loss) | 9901 | €297,605 | €187 | -€297,418 | -99.9% |
| Financial income | 75/76B | €11,753 | €314,116 | +€302,362 | +2,573% |
| Recurring financial income | 75 | €0 | €314,116 | +€314,116 | |
| Non-recurring financial income | 76B | €11,753 | €0 | -€11,753 | -100% |
| Financial charges | 65/66B | -€48 | €290 | +€337 | |
| Recurring financial charges | 65 | -€48 | €290 | +€337 | |
| Profit (loss) for the period before taxes | 9903 | €309,406 | €314,013 | +€4,607 | +1.5% |
| Income taxes | 67/77 | €94,548 | €29,641 | -€64,907 | -68.6% |
| Profit (loss) for the period | 9904 | €214,858 | €284,372 | +€69,514 | +32.4% |
| Profit (loss) for the period to be appropriated | 9905 | €214,858 | €284,372 | +€69,514 | +32.4% |
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.