L5x: 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.
L5x
Largest movements
- Cash +€60,653
up €60,653 (+844.9%), from €7,179 to €67,832
mainly Other debts (+€50,929) and Receivables within one year (+€19,806)
- Tangible fixed assets +€27,565
up €27,565 (+16.8%), from €164,480 to €192,045
of which Land and buildings: +€30,914
- Receivables within one year -€19,806
down €19,806 (-92.9%), from €21,319 to €1,513
- Stocks and contracts -€18,258
down €18,258 (-100.0%), from €18,258 to €0
- Deferred charges and accrued income +€3,331
up €3,331 (+325.1%), from €1,025 to €4,355
- Other debts +€50,929
up €50,929 (+21.3%), from €239,062 to €289,991
- Depreciation -€20,592
down €20,592 (-85.4%), from €24,109 to €3,517
- Gross operating margin +€15,153
up €15,153, from -€909 to €14,244
- Staff costs +€3,086
new in 2025: €3,086
- Financial charges +€2,089
up €2,089 (+46.2%), from €4,523 to €6,613
- Other operating charges -€618
down €618 (-54.3%), from €1,137 to €520
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
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 | €214,039 | €267,524 | +€53,484 | +25.0% |
| Fixed assets | 21/28 | €166,259 | €193,824 | +€27,565 | +16.6% |
| Tangible fixed assets | 22/27 | €164,480 | €192,045 | +€27,565 | +16.8% |
| Land and buildings | 22 | €147,510 | €178,424 | +€30,914 | +21.0% |
| Furniture and vehicles | 24 | €16,970 | €13,622 | -€3,349 | -19.7% |
| Financial fixed assets | 28 | €1,778 | €1,778 | = | 0.0% |
| Current assets | 29/58 | €47,780 | €73,700 | +€25,919 | +54.2% |
| Stocks and contracts in progress | 3 | €18,258 | €0 | -€18,258 | -100.0% |
| Contracts in progress | 37 | €18,258 | €0 | -€18,258 | -100.0% |
| Amounts receivable within one year | 40/41 | €21,319 | €1,513 | -€19,806 | -92.9% |
| Trade receivables | 40 | €21,319 | €1,513 | -€19,806 | -92.9% |
| Cash at bank and in hand | 54/58 | €7,179 | €67,832 | +€60,653 | +844.9% |
| Deferred charges and accrued income | 490/1 | €1,025 | €4,355 | +€3,331 | +325.1% |
| Total equity and liabilities | 10/49 | €214,039 | €267,524 | +€53,484 | +25.0% |
| Equity | 10/15 | -€28,368 | -€27,916 | +€452 | +1.6% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€30,868 | -€30,416 | +€452 | +1.5% |
| Amounts payable | 17/49 | €242,408 | €295,440 | +€53,032 | +21.9% |
| Amounts payable within one year | 42/48 | €242,408 | €295,440 | +€53,032 | +21.9% |
| Financial debts | 43 | €3 | €257 | +€254 | +8501.0% |
| Credit institutions | 430/8 | €3 | €257 | +€254 | +8501.0% |
| Trade debts | 44 | €525 | €2,833 | +€2,308 | +439.9% |
| Suppliers | 440/4 | €525 | €2,833 | +€2,308 | +439.9% |
| Taxes, remuneration and social security | 45 | €2,818 | €2,359 | -€459 | -16.3% |
| Taxes | 450/3 | €2,818 | €2,359 | -€459 | -16.3% |
| Other amounts payable | 47/48 | €239,062 | €289,991 | +€50,929 | +21.3% |
| Remuneration, social security and pensions | 62 | - | €3,086 | +€3,086 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,109 | €3,517 | -€20,592 | -85.4% |
| Other operating charges | 640/8 | €1,137 | €520 | -€618 | -54.3% |
| Gross operating margin | 9900 | -€909 | €14,244 | +€15,153 | |
| Operating profit (loss) | 9901 | -€26,155 | €7,121 | +€33,276 | |
| Financial income | 75/76B | €54 | €130 | +€76 | +138.9% |
| Recurring financial income | 75 | €54 | €130 | +€76 | +138.9% |
| Financial charges | 65/66B | €4,523 | €6,613 | +€2,089 | +46.2% |
| Recurring financial charges | 65 | €4,523 | €6,613 | +€2,089 | +46.2% |
| Profit (loss) for the period before taxes | 9903 | -€30,624 | €638 | +€31,262 | |
| Income taxes | 67/77 | €244 | €186 | -€58 | -23.9% |
| Profit (loss) for the period | 9904 | -€30,868 | €452 | +€31,320 | |
| Profit (loss) for the period to be appropriated | 9905 | -€30,868 | €452 | +€31,320 |
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 29 September 2026 via checked.be.