L.SHIPPING: 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.SHIPPING
Largest movements
- Receivables within one year +€52,602
up €52,602 (+22.7%), from €231,314 to €283,917
of which Trade receivables: +€45,788
- Trade debts +€38,745
up €38,745 (+72.2%), from €53,663 to €92,408
- Other debts +€13,595
up €13,595 (+50.9%), from €26,699 to €40,294
- Profit (loss) carried forward +€8,431
up €8,431 (+15.6%), from -€54,000 to -€45,569
- Current portion of long-term debt -€7,956
no longer reported in 2025 (was €7,956)
- Gross operating margin +€46,229
up €46,229, from -€27,972 to €18,257
- Other operating charges -€13,909
down €13,909 (-96.3%), from €14,444 to €534
- Financial charges -€9,613
down €9,613 (-50.3%), from €19,096 to €9,483
- Depreciation -€564
down €564 (-39.2%), from €1,439 to €875
- Financial income -€398
down €398 (-27.2%), from €1,465 to €1,067
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 | €235,801 | €287,278 | +€51,476 | +21.8% |
| Fixed assets | 21/28 | €875 | - | -€875 | |
| Tangible fixed assets | 22/27 | €875 | - | -€875 | |
| Furniture and vehicles | 24 | €875 | - | -€875 | |
| Current assets | 29/58 | €234,926 | €287,278 | +€52,352 | +22.3% |
| Amounts receivable within one year | 40/41 | €231,314 | €283,917 | +€52,602 | +22.7% |
| Trade receivables | 40 | €210,016 | €255,804 | +€45,788 | +21.8% |
| Other amounts receivable | 41 | €21,299 | €28,113 | +€6,814 | +32.0% |
| Cash at bank and in hand | 54/58 | €2,497 | €2,292 | -€205 | -8.2% |
| Deferred charges and accrued income | 490/1 | €1,114 | €1,069 | -€45 | -4.1% |
| Total equity and liabilities | 10/49 | €235,801 | €287,278 | +€51,476 | +21.8% |
| Equity | 10/15 | -€45,944 | -€37,513 | +€8,431 | +18.4% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€54,000 | -€45,569 | +€8,431 | +15.6% |
| Amounts payable | 17/49 | €281,745 | €324,790 | +€43,045 | +15.3% |
| Amounts payable within one year | 42/48 | €281,530 | €324,790 | +€43,261 | +15.4% |
| Current portion of amounts payable after more than one year | 42 | €7,956 | - | -€7,956 | |
| Financial debts | 43 | €100,000 | €100,000 | = | 0.0% |
| Credit institutions | 430/8 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €53,663 | €92,408 | +€38,745 | +72.2% |
| Suppliers | 440/4 | €53,663 | €92,408 | +€38,745 | +72.2% |
| Advances received on contracts in progress | 46 | €90,750 | €90,750 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €2,462 | €1,339 | -€1,123 | -45.6% |
| Taxes | 450/3 | €2,462 | €1,339 | -€1,123 | -45.6% |
| Other amounts payable | 47/48 | €26,699 | €40,294 | +€13,595 | +50.9% |
| Accrued charges and deferred income | 492/3 | €216 | - | -€216 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,439 | €875 | -€564 | -39.2% |
| Other operating charges | 640/8 | €14,444 | €534 | -€13,909 | -96.3% |
| Gross operating margin | 9900 | -€27,972 | €18,257 | +€46,229 | |
| Operating profit (loss) | 9901 | -€43,856 | €16,847 | +€60,703 | |
| Financial income | 75/76B | €1,465 | €1,067 | -€398 | -27.2% |
| Recurring financial income | 75 | €1,465 | €1,067 | -€398 | -27.2% |
| Financial charges | 65/66B | €19,096 | €9,483 | -€9,613 | -50.3% |
| Recurring financial charges | 65 | €19,096 | €9,483 | -€9,613 | -50.3% |
| Profit (loss) for the period before taxes | 9903 | -€61,487 | €8,431 | +€69,918 | |
| Income taxes | 67/77 | -€0 | - | +€0 | |
| Profit (loss) for the period | 9904 | -€61,487 | €8,431 | +€69,918 | |
| Profit (loss) for the period to be appropriated | 9905 | -€61,487 | €8,431 | +€69,918 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.