L SPHERE 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 SPHERE MANAGEMENT
Largest movements
- Receivables within one year -€79,572
down €79,572 (-20.5%), from €387,933 to €308,360
of which Trade receivables: -€75,208
- Profit (loss) carried forward -€36,131
down €36,131 (-45.6%), from €79,319 to €43,189
- Tax, wage and social debts -€25,714
down €25,714 (-54.7%), from €47,010 to €21,296
- Trade debts -€9,819
down €9,819 (-21.9%), from €44,828 to €35,010
- Other debts -€8,706
down €8,706 (-5.8%), from €150,460 to €141,754
- Gross operating margin -€133,282
down €133,282, from €102,810 to -€30,473
- Other operating charges -€22,146
down €22,146 (-97.4%), from €22,745 to €599
- Staff costs -€19,466
down €19,466 (-97.3%), from €20,004 to €538
- Taxes -€12,819
down €12,819 (-97.5%), from €13,142 to €323
- Financial charges -€8,697
down €8,697 (-84.0%), from €10,358 to €1,661
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 | €506,331 | €425,961 | -€80,369 | -15.9% |
| Fixed assets | 21/28 | €117,507 | €115,719 | -€1,788 | -1.5% |
| Tangible fixed assets | 22/27 | €2,507 | €719 | -€1,788 | -71.3% |
| Furniture and vehicles | 24 | €2,507 | €719 | -€1,788 | -71.3% |
| Financial fixed assets | 28 | €115,000 | €115,000 | = | 0.0% |
| Current assets | 29/58 | €388,824 | €310,242 | -€78,582 | -20.2% |
| Amounts receivable within one year | 40/41 | €387,933 | €308,360 | -€79,572 | -20.5% |
| Trade receivables | 40 | €199,493 | €124,285 | -€75,208 | -37.7% |
| Other amounts receivable | 41 | €188,440 | €184,075 | -€4,365 | -2.3% |
| Cash at bank and in hand | 54/58 | €891 | €1,882 | +€991 | +111% |
| Total equity and liabilities | 10/49 | €506,331 | €425,961 | -€80,369 | -15.9% |
| Equity | 10/15 | €264,032 | €227,901 | -€36,131 | -13.7% |
| Contributions | 10/11 | €180,000 | €180,000 | = | 0.0% |
| Reserves | 13 | €4,713 | €4,713 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,713 | €4,713 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,713 | €4,713 | = | 0.0% |
| Profit (loss) carried forward | 14 | €79,319 | €43,189 | -€36,131 | -45.6% |
| Amounts payable | 17/49 | €242,299 | €198,060 | -€44,239 | -18.3% |
| Amounts payable within one year | 42/48 | €242,299 | €198,060 | -€44,239 | -18.3% |
| Trade debts | 44 | €44,828 | €35,010 | -€9,819 | -21.9% |
| Suppliers | 440/4 | €44,828 | €35,010 | -€9,819 | -21.9% |
| Taxes, remuneration and social security | 45 | €47,010 | €21,296 | -€25,714 | -54.7% |
| Taxes | 450/3 | €47,010 | €21,296 | -€25,714 | -54.7% |
| Other amounts payable | 47/48 | €150,460 | €141,754 | -€8,706 | -5.8% |
| Remuneration, social security and pensions | 62 | €20,004 | €538 | -€19,466 | -97.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,758 | €1,788 | -€971 | -35.2% |
| Other operating charges | 640/8 | €22,745 | €599 | -€22,146 | -97.4% |
| Non-recurring operating charges | 66A | - | €749 | +€749 | |
| Gross operating margin | 9900 | €102,810 | -€30,473 | -€133,282 | |
| Operating profit (loss) | 9901 | €57,303 | -€34,146 | -€91,449 | |
| Financial charges | 65/66B | €10,358 | €1,661 | -€8,697 | -84.0% |
| Recurring financial charges | 65 | €10,358 | €1,661 | -€8,697 | -84.0% |
| Profit (loss) for the period before taxes | 9903 | €46,945 | -€35,807 | -€82,752 | |
| Income taxes | 67/77 | €13,142 | €323 | -€12,819 | -97.5% |
| Profit (loss) for the period | 9904 | €33,803 | -€36,131 | -€69,933 | |
| Profit (loss) for the period to be appropriated | 9905 | €33,803 | -€36,131 | -€69,933 |
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 29 October 2026 via checked.be.