LA-SJ: 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.
LA-SJ
Largest movements
- Cash -€29,683
down €29,683 (-76.7%), from €38,711 to €9,028
mainly Debts after one year (-€84,600) and Investment in fixed assets (net) (-€37,768)
- Receivables within one year -€14,758
down €14,758 (-34.0%), from €43,404 to €28,646
of which Other amounts receivable: -€22,274
- Debts after one year -€84,600
down €84,600 (-20.8%), from €406,403 to €321,804
- Reserves +€78,913
up €78,913 (+27.5%), from €287,420 to €366,333
- Tax, wage and social debts -€37,377
down €37,377 (-81.1%), from €46,076 to €8,699
- Depreciation +€7,052
up €7,052 (+25.2%), from €27,957 to €35,010
- Gross operating margin -€5,883
down €5,883 (-3.5%), from €167,554 to €161,670
- Other operating charges +€5,734
up €5,734 (+143%), from €4,009 to €9,742
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 | €763,520 | €721,164 | -€42,355 | -5.5% |
| Fixed assets | 21/28 | €676,887 | €679,645 | +€2,758 | +0.4% |
| Tangible fixed assets | 22/27 | €676,887 | €679,645 | +€2,758 | +0.4% |
| Land and buildings | 22 | €676,887 | €665,726 | -€11,161 | -1.6% |
| Furniture and vehicles | 24 | - | €13,919 | +€13,919 | |
| Current assets | 29/58 | €86,632 | €41,519 | -€45,113 | -52.1% |
| Amounts receivable within one year | 40/41 | €43,404 | €28,646 | -€14,758 | -34.0% |
| Trade receivables | 40 | €11,000 | €18,516 | +€7,516 | +68.3% |
| Other amounts receivable | 41 | €32,404 | €10,130 | -€22,274 | -68.7% |
| Cash at bank and in hand | 54/58 | €38,711 | €9,028 | -€29,683 | -76.7% |
| Deferred charges and accrued income | 490/1 | €4,517 | €3,845 | -€672 | -14.9% |
| Total equity and liabilities | 10/49 | €763,520 | €721,164 | -€42,355 | -5.5% |
| Equity | 10/15 | €307,420 | €386,333 | +€78,913 | +25.7% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €287,420 | €366,333 | +€78,913 | +27.5% |
| Distributable reserves | 133 | €287,420 | €366,333 | +€78,913 | +27.5% |
| Amounts payable | 17/49 | €456,099 | €334,831 | -€121,269 | -26.6% |
| Amounts payable after more than one year | 17 | €406,403 | €321,804 | -€84,600 | -20.8% |
| Other amounts payable | 178/9 | €406,403 | €321,804 | -€84,600 | -20.8% |
| Amounts payable within one year | 42/48 | €49,696 | €13,027 | -€36,669 | -73.8% |
| Trade debts | 44 | €3,620 | €4,329 | +€709 | +19.6% |
| Suppliers | 440/4 | €3,620 | €4,329 | +€709 | +19.6% |
| Taxes, remuneration and social security | 45 | €46,076 | €8,699 | -€37,377 | -81.1% |
| Taxes | 450/3 | €46,076 | €8,699 | -€37,377 | -81.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,957 | €35,010 | +€7,052 | +25.2% |
| Other operating charges | 640/8 | €4,009 | €9,742 | +€5,734 | +143% |
| Gross operating margin | 9900 | €167,554 | €161,670 | -€5,883 | -3.5% |
| Operating profit (loss) | 9901 | €135,588 | €116,919 | -€18,669 | -13.8% |
| Financial income | 75/76B | €328 | €140 | -€187 | -57.1% |
| Recurring financial income | 75 | €328 | €140 | -€187 | -57.1% |
| Financial charges | 65/66B | €1,541 | €1,088 | -€453 | -29.4% |
| Recurring financial charges | 65 | €1,541 | €1,088 | -€453 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €134,374 | €115,971 | -€18,403 | -13.7% |
| Income taxes | 67/77 | €38,226 | €37,058 | -€1,168 | -3.1% |
| Profit (loss) for the period | 9904 | €96,148 | €78,913 | -€17,235 | -17.9% |
| Profit (loss) for the period to be appropriated | 9905 | €96,148 | €78,913 | -€17,235 | -17.9% |
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 20 October 2026 via checked.be.