L-SOLAR: 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-SOLAR
Largest movements
- Tangible fixed assets -€16,578
down €16,578 (-27.0%), from €61,431 to €44,853
of which Furniture and vehicles: -€14,608
- Cash -€10,703
down €10,703 (-9.6%), from €111,487 to €100,784
mainly Contributions, distributions and other (-€110,000) and Debts after one year (-€10,243)
- Stocks and contracts +€4,900
up €4,900 (+39.2%), from €12,500 to €17,400
- Reserves -€107,252
down €107,252 (-28.6%), from €374,375 to €267,123
- Other debts +€88,097
up €88,097 (+333%), from €26,453 to €114,550
- Debts after one year -€10,243
down €10,243 (-51.1%), from €20,028 to €9,785
- Trade debts +€7,027
up €7,027 (+1,897%), from €370 to €7,398
- Gross operating margin -€12,192
down €12,192 (-34.4%), from €35,430 to €23,239
- Financial income -€9,930
down €9,930 (-68.8%), from €14,424 to €4,494
- Taxes -€4,869
down €4,869 (-59.5%), from €8,183 to €3,314
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 | €450,200 | €435,034 | -€15,166 | -3.4% |
| Fixed assets | 21/28 | €61,431 | €44,853 | -€16,578 | -27.0% |
| Tangible fixed assets | 22/27 | €61,431 | €44,853 | -€16,578 | -27.0% |
| Plant, machinery and equipment | 23 | €307 | €93 | -€214 | -69.7% |
| Furniture and vehicles | 24 | €51,453 | €36,845 | -€14,608 | -28.4% |
| Other tangible fixed assets | 26 | €9,671 | €7,914 | -€1,756 | -18.2% |
| Current assets | 29/58 | €388,770 | €390,181 | +€1,411 | +0.4% |
| Stocks and contracts in progress | 3 | €12,500 | €17,400 | +€4,900 | +39.2% |
| Stocks | 30/36 | €12,500 | €17,400 | +€4,900 | +39.2% |
| Amounts receivable within one year | 40/41 | €14,246 | €17,862 | +€3,616 | +25.4% |
| Trade receivables | 40 | €12,499 | €17,812 | +€5,313 | +42.5% |
| Other amounts receivable | 41 | €1,747 | €50 | -€1,697 | -97.1% |
| Current investments | 50/53 | €250,000 | €250,000 | -€0 | 0.0% |
| Cash at bank and in hand | 54/58 | €111,487 | €100,784 | -€10,703 | -9.6% |
| Deferred charges and accrued income | 490/1 | €537 | €4,135 | +€3,598 | +670% |
| Total equity and liabilities | 10/49 | €450,200 | €435,034 | -€15,166 | -3.4% |
| Equity | 10/15 | €392,975 | €285,723 | -€107,252 | -27.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €374,375 | €267,123 | -€107,252 | -28.6% |
| Distributable reserves | 133 | €374,375 | €267,123 | -€107,252 | -28.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €57,226 | €149,311 | +€92,085 | +161% |
| Amounts payable after more than one year | 17 | €20,028 | €9,785 | -€10,243 | -51.1% |
| Financial debts | 170/4 | €20,028 | €9,785 | -€10,243 | -51.1% |
| Amounts payable within one year | 42/48 | €37,198 | €139,370 | +€102,172 | +275% |
| Current portion of amounts payable after more than one year | 42 | €9,811 | €10,243 | +€432 | +4.4% |
| Trade debts | 44 | €370 | €7,398 | +€7,027 | +1,897% |
| Suppliers | 440/4 | €370 | €7,398 | +€7,027 | +1,897% |
| Advances received on contracts in progress | 46 | €0 | €2,350 | +€2,350 | |
| Taxes, remuneration and social security | 45 | €564 | €4,829 | +€4,265 | +756% |
| Taxes | 450/3 | €564 | €4,829 | +€4,265 | +756% |
| Other amounts payable | 47/48 | €26,453 | €114,550 | +€88,097 | +333% |
| Accrued charges and deferred income | 492/3 | - | €156 | +€156 | |
| Remuneration, social security and pensions | 62 | €85 | €98 | +€13 | +14.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,329 | €18,310 | -€19 | -0.1% |
| Other operating charges | 640/8 | €1,310 | €1,337 | +€27 | +2.1% |
| Gross operating margin | 9900 | €35,430 | €23,239 | -€12,192 | -34.4% |
| Operating profit (loss) | 9901 | €15,707 | €3,494 | -€12,213 | -77.8% |
| Financial income | 75/76B | €14,424 | €4,494 | -€9,930 | -68.8% |
| Recurring financial income | 75 | €14,424 | €4,494 | -€9,930 | -68.8% |
| Financial charges | 65/66B | €1,874 | €1,925 | +€51 | +2.7% |
| Recurring financial charges | 65 | €1,874 | €1,925 | +€51 | +2.7% |
| Profit (loss) for the period before taxes | 9903 | €28,257 | €6,063 | -€22,194 | -78.5% |
| Income taxes | 67/77 | €8,183 | €3,314 | -€4,869 | -59.5% |
| Profit (loss) for the period | 9904 | €20,073 | €2,748 | -€17,325 | -86.3% |
| Profit (loss) for the period to be appropriated | 9905 | €20,073 | €2,748 | -€17,325 | -86.3% |
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 26 October 2026 via checked.be.