L&vD: what changed
Two fiscal 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&vD
Largest movements
- Intangible fixed assets +€37,751
up €37,751 (+151.0%), from €24,994 to €62,744
- Receivables within one year -€32,347
down €32,347 (-37.1%), from €87,088 to €54,741
of which Trade receivables: -€33,249
- Trade debts +€6,800
up €6,800 (+4169.0%), from €163 to €6,963
- Short-term financial debts -€3,732
down €3,732 (-39.3%), from €9,505 to €5,772
- Reserves +€3,188
up €3,188 (+29.9%), from €10,645 to €13,833
- Gross operating margin -€2,341
down €2,341 (-20.7%), from €11,287 to €8,946
- Depreciation +€1,811
up €1,811 (+241.9%), from €748 to €2,559
- Taxes -€935
down €935 (-44.6%), from €2,096 to €1,161
- Other operating charges -€795
down €795 (-67.6%), from €1,176 to €381
- Financial charges +€677
up €677 (+69.0%), from €980 to €1,657
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.
Cash bridge derived
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €146,361 | €152,325 | +€5,964 | +4.1% |
| Fixed assets | 21/28 | €24,994 | €62,744 | +€37,751 | +151.0% |
| Intangible fixed assets | 21 | €24,994 | €62,744 | +€37,751 | +151.0% |
| Current assets | 29/58 | €121,367 | €89,580 | -€31,787 | -26.2% |
| Stocks and contracts in progress | 3 | €34,279 | €34,465 | +€186 | +0.5% |
| Stocks | 30/36 | €34,279 | €34,465 | +€186 | +0.5% |
| Amounts receivable within one year | 40/41 | €87,088 | €54,741 | -€32,347 | -37.1% |
| Trade receivables | 40 | €86,230 | €52,980 | -€33,249 | -38.6% |
| Other amounts receivable | 41 | €858 | €1,761 | +€903 | +105.2% |
| Deferred charges and accrued income | 490/1 | - | €373 | +€373 | |
| Total equity and liabilities | 10/49 | €146,361 | €152,325 | +€5,964 | +4.1% |
| Equity | 10/15 | €133,145 | €136,333 | +€3,188 | +2.4% |
| Contributions | 10/11 | €122,500 | €122,500 | = | 0.0% |
| Reserves | 13 | €10,645 | €13,833 | +€3,188 | +29.9% |
| Distributable reserves | 133 | €10,645 | €13,833 | +€3,188 | +29.9% |
| Amounts payable | 17/49 | €13,216 | €15,992 | +€2,776 | +21.0% |
| Amounts payable within one year | 42/48 | €13,216 | €15,992 | +€2,776 | +21.0% |
| Financial debts | 43 | €9,505 | €5,772 | -€3,732 | -39.3% |
| Credit institutions | 430/8 | €9,505 | €5,772 | -€3,732 | -39.3% |
| Trade debts | 44 | €163 | €6,963 | +€6,800 | +4169.0% |
| Suppliers | 440/4 | €163 | €6,963 | +€6,800 | +4169.0% |
| Taxes, remuneration and social security | 45 | €3,548 | €3,256 | -€292 | -8.2% |
| Taxes | 450/3 | €3,548 | €3,256 | -€292 | -8.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €748 | €2,559 | +€1,811 | +241.9% |
| Other operating charges | 640/8 | €1,176 | €381 | -€795 | -67.6% |
| Gross operating margin | 9900 | €11,287 | €8,946 | -€2,341 | -20.7% |
| Operating profit (loss) | 9901 | €9,363 | €6,006 | -€3,357 | -35.9% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €980 | €1,657 | +€677 | +69.0% |
| Recurring financial charges | 65 | €980 | €1,657 | +€677 | +69.0% |
| Profit (loss) for the period before taxes | 9903 | €8,382 | €4,349 | -€4,034 | -48.1% |
| Income taxes | 67/77 | €2,096 | €1,161 | -€935 | -44.6% |
| Profit (loss) for the period | 9904 | €6,287 | €3,188 | -€3,099 | -49.3% |
| Profit (loss) for the period to be appropriated | 9905 | €6,287 | €3,188 | -€3,099 | -49.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.