LBD BELUX: 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.
LBD BELUX
Largest movements
- Receivables within one year +€281,912
up €281,912 (+66.7%), from €422,360 to €704,272
- Cash +€41,957
up €41,957 (+7.2%), from €581,012 to €622,969
mainly Trade debts (+€106,645) and Provisions (+€99,692)
- Trade debts +€106,645
up €106,645 (+55.8%), from €191,222 to €297,868
- Provisions +€99,692
up €99,692 (+35.4%), from €281,422 to €381,113
- Profit (loss) carried forward +€83,614
up €83,614 (+82.6%), from €101,223 to €184,837
- Tax, wage and social debts +€30,325
up €30,325 (+8.7%), from €347,484 to €377,809
of which Remuneration and social security: +€26,608
- Gross operating margin +€547,990
up €547,990 (+52.4%), from €1.0m to €1.6m
- Provisions +€354,248
up €354,248, from -€254,022 to €100,226
- Staff costs +€160,433
up €160,433 (+13.6%), from €1.2m to €1.3m
- Financial charges +€46,756
up €46,756 (+281%), from €16,624 to €63,380
of which Non-recurring financial charges: +€46,247
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 | €1,023,186 | €1,343,462 | +€320,276 | +31.3% |
| Fixed assets | 21/28 | - | €1,673 | +€1,673 | |
| Tangible fixed assets | 22/27 | - | €1,673 | +€1,673 | |
| Furniture and vehicles | 24 | - | €1,673 | +€1,673 | |
| Current assets | 29/58 | €1,023,186 | €1,341,789 | +€318,603 | +31.1% |
| Amounts receivable within one year | 40/41 | €422,360 | €704,272 | +€281,912 | +66.7% |
| Trade receivables | 40 | €422,360 | €704,272 | +€281,912 | +66.7% |
| Cash at bank and in hand | 54/58 | €581,012 | €622,969 | +€41,957 | +7.2% |
| Deferred charges and accrued income | 490/1 | €19,815 | €14,548 | -€5,267 | -26.6% |
| Total equity and liabilities | 10/49 | €1,023,186 | €1,343,462 | +€320,276 | +31.3% |
| Equity | 10/15 | €200,935 | €284,549 | +€83,614 | +41.6% |
| Contributions | 10/11 | €61,506 | €61,506 | = | 0.0% |
| Capital | 10 | €61,506 | €61,506 | = | 0.0% |
| Issued capital | 100 | €61,506 | €61,506 | = | 0.0% |
| Reserves | 13 | €38,205 | €38,205 | = | 0.0% |
| Non-distributable reserves | 130/1 | €31,496 | €31,496 | = | 0.0% |
| Legal reserve | 130 | €30,243 | €30,243 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,253 | €1,253 | = | 0.0% |
| Distributable reserves | 133 | €6,709 | €6,709 | = | 0.0% |
| Profit (loss) carried forward | 14 | €101,223 | €184,837 | +€83,614 | +82.6% |
| Provisions and deferred taxes | 16 | €281,422 | €381,113 | +€99,692 | +35.4% |
| Provisions for liabilities and charges | 160/5 | €281,422 | €381,113 | +€99,692 | +35.4% |
| Other liabilities and charges | 164/5 | €281,422 | €381,113 | +€99,692 | +35.4% |
| Amounts payable | 17/49 | €540,830 | €677,800 | +€136,970 | +25.3% |
| Amounts payable within one year | 42/48 | €538,707 | €675,677 | +€136,970 | +25.4% |
| Trade debts | 44 | €191,222 | €297,868 | +€106,645 | +55.8% |
| Suppliers | 440/4 | €191,222 | €297,868 | +€106,645 | +55.8% |
| Taxes, remuneration and social security | 45 | €347,484 | €377,809 | +€30,325 | +8.7% |
| Taxes | 450/3 | €62,082 | €65,798 | +€3,717 | +6.0% |
| Remuneration and social security | 454/9 | €285,403 | €312,011 | +€26,608 | +9.3% |
| Accrued charges and deferred income | 492/3 | €2,123 | €2,123 | = | 0.0% |
| Non-recurring operating income | 76A | €8,994 | €31,135 | +€22,141 | +246% |
| Remuneration, social security and pensions | 62 | €1,181,192 | €1,341,625 | +€160,433 | +13.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €125 | +€125 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€12,145 | - | +€12,145 | |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€254,022 | €100,226 | +€354,248 | |
| Other operating charges | 640/8 | €13,240 | €1,826 | -€11,414 | -86.2% |
| Non-recurring operating charges | 66A | €21,313 | - | -€21,313 | |
| Gross operating margin | 9900 | €1,046,483 | €1,594,473 | +€547,990 | +52.4% |
| Operating profit (loss) | 9901 | €96,906 | €150,671 | +€53,766 | +55.5% |
| Financial income | 75/76B | €7 | €84 | +€77 | +1,171% |
| Recurring financial income | 75 | €7 | €84 | +€77 | +1,171% |
| Financial charges | 65/66B | €16,624 | €63,380 | +€46,756 | +281% |
| Recurring financial charges | 65 | €16,624 | €17,133 | +€509 | +3.1% |
| Non-recurring financial charges | 66B | - | €46,247 | +€46,247 | |
| Profit (loss) for the period before taxes | 9903 | €80,288 | €87,375 | +€7,087 | +8.8% |
| Income taxes | 67/77 | €3,594 | €3,761 | +€167 | +4.6% |
| Profit (loss) for the period | 9904 | €76,694 | €83,614 | +€6,920 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €76,694 | €83,614 | +€6,920 | +9.0% |
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 21 October 2026 via checked.be.