LBAT40: 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.
LBAT40
Largest movements
- Receivables within one year +€52,358
up €52,358 (+31.9%), from €164,331 to €216,689
of which Trade receivables: +€27,455
- Deferred charges and accrued income -€8,032
down €8,032 (-23.2%), from €34,599 to €26,567
- Reserves +€23,663
up €23,663 (+7.4%), from €318,386 to €342,049
- Tax, wage and social debts +€23,030
up €23,030 (+218.6%), from €10,536 to €33,566
- Gross operating margin -€50,250
down €50,250 (-54.6%), from €91,995 to €41,745
- Taxes -€12,321
down €12,321 (-51.8%), from €23,793 to €11,472
- Other operating charges -€1,438
down €1,438 (-61.4%), from €2,342 to €904
- Financial income -€1,122
down €1,122 (-68.2%), from €1,644 to €522
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 | €352,721 | €397,752 | +€45,030 | +12.8% |
| Fixed assets | 21/28 | €1,056 | €1,785 | +€729 | +69.1% |
| Tangible fixed assets | 22/27 | €1,056 | €1,785 | +€729 | +69.1% |
| Furniture and vehicles | 24 | €1,056 | €1,785 | +€729 | +69.1% |
| Current assets | 29/58 | €351,665 | €395,966 | +€44,301 | +12.6% |
| Amounts receivable within one year | 40/41 | €164,331 | €216,689 | +€52,358 | +31.9% |
| Trade receivables | 40 | €90,003 | €117,458 | +€27,455 | +30.5% |
| Other amounts receivable | 41 | €74,328 | €99,231 | +€24,903 | +33.5% |
| Current investments | 50/53 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €152,735 | €152,710 | -€25 | 0.0% |
| Deferred charges and accrued income | 490/1 | €34,599 | €26,567 | -€8,032 | -23.2% |
| Total equity and liabilities | 10/49 | €352,721 | €397,752 | +€45,030 | +12.8% |
| Equity | 10/15 | €336,986 | €360,649 | +€23,663 | +7.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €318,386 | €342,049 | +€23,663 | +7.4% |
| Distributable reserves | 133 | €318,386 | €342,049 | +€23,663 | +7.4% |
| Amounts payable | 17/49 | €15,736 | €37,103 | +€21,367 | +135.8% |
| Amounts payable within one year | 42/48 | €14,207 | €37,103 | +€22,896 | +161.2% |
| Trade debts | 44 | €3,671 | €3,537 | -€134 | -3.7% |
| Suppliers | 440/4 | €3,671 | €3,537 | -€134 | -3.7% |
| Taxes, remuneration and social security | 45 | €10,536 | €33,566 | +€23,030 | +218.6% |
| Taxes | 450/3 | €10,536 | €33,566 | +€23,030 | +218.6% |
| Accrued charges and deferred income | 492/3 | €1,528 | €0 | -€1,528 | -100.0% |
| Non-recurring operating income | 76A | €14,800 | €0 | -€14,800 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €427 | €675 | +€247 | +57.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€500 | €0 | +€500 | |
| Other operating charges | 640/8 | €2,342 | €904 | -€1,438 | -61.4% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €91,995 | €41,745 | -€50,250 | -54.6% |
| Operating profit (loss) | 9901 | €89,726 | €40,167 | -€49,560 | -55.2% |
| Financial income | 75/76B | €1,644 | €522 | -€1,122 | -68.2% |
| Recurring financial income | 75 | €1,644 | €522 | -€1,122 | -68.2% |
| Financial charges | 65/66B | €5,567 | €5,554 | -€13 | -0.2% |
| Recurring financial charges | 65 | €5,567 | €5,554 | -€13 | -0.2% |
| Profit (loss) for the period before taxes | 9903 | €85,804 | €35,135 | -€50,669 | -59.1% |
| Income taxes | 67/77 | €23,793 | €11,472 | -€12,321 | -51.8% |
| Profit (loss) for the period | 9904 | €62,011 | €23,663 | -€38,348 | -61.8% |
| Profit (loss) for the period to be appropriated | 9905 | €62,011 | €23,663 | -€38,348 | -61.8% |
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 3 October 2026 via checked.be.