LBF: 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.
LBF
Largest movements
- Receivables within one year +€29,770
up €29,770 (+323.6%), from €9,201 to €38,971
of which Other amounts receivable: +€30,623
- Cash +€28,601
up €28,601 (+41.8%), from €68,476 to €97,077
mainly Net result for the year (+€59,137) and Tax, wage and social debts (+€30,993)
- Tangible fixed assets -€13,218
down €13,218 (-46.4%), from €28,506 to €15,287
of which Furniture and vehicles: -€12,425
- Reserves +€32,591
up €32,591 (+24.2%), from €134,865 to €167,455
- Tax, wage and social debts +€30,993
up €30,993 (+68.0%), from €45,580 to €76,573
of which Taxes: +€18,125
- Trade debts -€15,444
down €15,444 (-56.6%), from €27,269 to €11,825
- Debts after one year -€3,483
down €3,483 (-100.0%), from €3,483 to €0
- Other debts +€2,978
up €2,978 (+10.5%), from €28,380 to €31,357
- Gross operating margin +€109,078
up €109,078 (+154.7%), from €70,526 to €179,604
- Staff costs +€49,054
up €49,054 (+110.1%), from €44,534 to €93,588
- Taxes +€10,485
up €10,485 (+134.9%), from €7,773 to €18,258
- Financial income +€3,575
up €3,575 (+86.6%), from €4,130 to €7,705
- Other operating charges +€3,306
up €3,306 (+148.4%), from €2,228 to €5,534
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 | €251,247 | €296,946 | +€45,699 | +18.2% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €28,506 | €15,287 | -€13,218 | -46.4% |
| Tangible fixed assets | 22/27 | €28,506 | €15,287 | -€13,218 | -46.4% |
| Plant, machinery and equipment | 23 | €4,118 | €3,324 | -€793 | -19.3% |
| Furniture and vehicles | 24 | €24,388 | €11,963 | -€12,425 | -50.9% |
| Current assets | 29/58 | €222,742 | €281,659 | +€58,918 | +26.5% |
| Amounts receivable after more than one year | 29 | €133,802 | €131,202 | -€2,600 | -1.9% |
| Trade receivables | 290 | €133,802 | €131,202 | -€2,600 | -1.9% |
| Stocks and contracts in progress | 3 | €5,202 | €7,210 | +€2,008 | +38.6% |
| Stocks | 30/36 | €5,202 | €7,210 | +€2,008 | +38.6% |
| Amounts receivable within one year | 40/41 | €9,201 | €38,971 | +€29,770 | +323.6% |
| Trade receivables | 40 | €7,043 | €6,190 | -€852 | -12.1% |
| Other amounts receivable | 41 | €2,158 | €32,781 | +€30,623 | +1419.1% |
| Cash at bank and in hand | 54/58 | €68,476 | €97,077 | +€28,601 | +41.8% |
| Deferred charges and accrued income | 490/1 | €6,061 | €7,199 | +€1,138 | +18.8% |
| Total equity and liabilities | 10/49 | €251,247 | €296,946 | +€45,699 | +18.2% |
| Equity | 10/15 | €141,662 | €173,708 | +€32,046 | +22.6% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €134,865 | €167,455 | +€32,591 | +24.2% |
| Distributable reserves | 133 | €134,865 | €167,455 | +€32,591 | +24.2% |
| Profit (loss) carried forward | 14 | €597 | €53 | -€545 | -91.2% |
| Amounts payable | 17/49 | €109,585 | €123,238 | +€13,653 | +12.5% |
| Amounts payable after more than one year | 17 | €3,483 | €0 | -€3,483 | -100.0% |
| Financial debts | 170/4 | €3,483 | €0 | -€3,483 | -100.0% |
| Amounts payable within one year | 42/48 | €106,102 | €123,238 | +€17,136 | +16.2% |
| Current portion of amounts payable after more than one year | 42 | €4,873 | €3,483 | -€1,390 | -28.5% |
| Trade debts | 44 | €27,269 | €11,825 | -€15,444 | -56.6% |
| Suppliers | 440/4 | €27,269 | €11,825 | -€15,444 | -56.6% |
| Taxes, remuneration and social security | 45 | €45,580 | €76,573 | +€30,993 | +68.0% |
| Taxes | 450/3 | €40,923 | €59,048 | +€18,125 | +44.3% |
| Remuneration and social security | 454/9 | €4,657 | €17,525 | +€12,867 | +276.3% |
| Other amounts payable | 47/48 | €28,380 | €31,357 | +€2,978 | +10.5% |
| Remuneration, social security and pensions | 62 | €44,534 | €93,588 | +€49,054 | +110.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,163 | €5,089 | -€2,075 | -29.0% |
| Other operating charges | 640/8 | €2,228 | €5,534 | +€3,306 | +148.4% |
| Gross operating margin | 9900 | €70,526 | €179,604 | +€109,078 | +154.7% |
| Operating profit (loss) | 9901 | €16,600 | €75,393 | +€58,793 | +354.2% |
| Financial income | 75/76B | €4,130 | €7,705 | +€3,575 | +86.6% |
| Recurring financial income | 75 | €4,130 | €7,705 | +€3,575 | +86.6% |
| Financial charges | 65/66B | €4,239 | €5,704 | +€1,465 | +34.6% |
| Recurring financial charges | 65 | €4,239 | €5,704 | +€1,465 | +34.6% |
| Profit (loss) for the period before taxes | 9903 | €16,492 | €77,395 | +€60,903 | +369.3% |
| Income taxes | 67/77 | €7,773 | €18,258 | +€10,485 | +134.9% |
| Profit (loss) for the period | 9904 | €8,719 | €59,137 | +€50,418 | +578.2% |
| Profit (loss) for the period to be appropriated | 9905 | €8,719 | €59,137 | +€50,418 | +578.2% |
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.