LBH BELGIUM: 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.
LBH BELGIUM
Largest movements
- Receivables within one year -€799,006
down €799,006 (-27.6%), from €2.9m to €2.1m
of which Other amounts receivable: -€1.2m
- Cash -€142,766
down €142,766 (-37.4%), from €381,629 to €238,863
mainly Trade debts (-€1.3m) and Deferred charges and accrued income (-€834)
- Trade debts -€1.3m
down €1.3m (-40.7%), from €3.2m to €1.9m
- Profit (loss) carried forward +€328,761
up €328,761, from -€28,921 to €299,840
- Gross operating margin +€409,690
up €409,690 (+66.9%), from €612,046 to €1.0m
- Staff costs -€77,295
down €77,295 (-11.5%), from €674,788 to €597,492
- Taxes +€75,790
up €75,790 (+4,711%), from €1,609 to €77,399
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 | €3,297,086 | €2,346,021 | -€951,065 | -28.8% |
| Fixed assets | 21/28 | €14,260 | €4,132 | -€10,128 | -71.0% |
| Tangible fixed assets | 22/27 | €6,328 | €1,932 | -€4,396 | -69.5% |
| Plant, machinery and equipment | 23 | €6,328 | €1,932 | -€4,396 | -69.5% |
| Financial fixed assets | 28 | €7,932 | €2,200 | -€5,732 | -72.3% |
| Current assets | 29/58 | €3,282,826 | €2,341,889 | -€940,937 | -28.7% |
| Amounts receivable within one year | 40/41 | €2,890,091 | €2,091,085 | -€799,006 | -27.6% |
| Trade receivables | 40 | €454,972 | €878,122 | +€423,150 | +93.0% |
| Other amounts receivable | 41 | €2,435,119 | €1,212,963 | -€1.2m | -50.2% |
| Cash at bank and in hand | 54/58 | €381,629 | €238,863 | -€142,766 | -37.4% |
| Deferred charges and accrued income | 490/1 | €11,106 | €11,940 | +€834 | +7.5% |
| Total equity and liabilities | 10/49 | €3,297,086 | €2,346,021 | -€951,065 | -28.8% |
| Equity | 10/15 | €38,729 | €367,490 | +€328,761 | +849% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,921 | €299,840 | +€328,761 | |
| Amounts payable | 17/49 | €3,258,357 | €1,978,531 | -€1.3m | -39.3% |
| Amounts payable within one year | 42/48 | €3,258,357 | €1,978,531 | -€1.3m | -39.3% |
| Trade debts | 44 | €3,173,311 | €1,881,348 | -€1.3m | -40.7% |
| Suppliers | 440/4 | €3,173,311 | €1,881,348 | -€1.3m | -40.7% |
| Taxes, remuneration and social security | 45 | €85,046 | €97,183 | +€12,138 | +14.3% |
| Taxes | 450/3 | €18,743 | €33,906 | +€15,163 | +80.9% |
| Remuneration and social security | 454/9 | €66,303 | €63,277 | -€3,026 | -4.6% |
| Remuneration, social security and pensions | 62 | €674,788 | €597,492 | -€77,295 | -11.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,352 | €4,396 | -€957 | -17.9% |
| Other operating charges | 640/8 | €1,789 | €1,415 | -€374 | -20.9% |
| Gross operating margin | 9900 | €612,046 | €1,021,736 | +€409,690 | +66.9% |
| Operating profit (loss) | 9901 | -€69,883 | €418,434 | +€488,317 | |
| Financial income | 75/76B | €1,180 | €49 | -€1,131 | -95.9% |
| Recurring financial income | 75 | €1,180 | €49 | -€1,131 | -95.9% |
| Financial charges | 65/66B | €9,396 | €12,322 | +€2,926 | +31.1% |
| Recurring financial charges | 65 | €9,396 | €12,322 | +€2,926 | +31.1% |
| Profit (loss) for the period before taxes | 9903 | -€78,100 | €406,160 | +€484,260 | |
| Income taxes | 67/77 | €1,609 | €77,399 | +€75,790 | +4,711% |
| Profit (loss) for the period | 9904 | -€79,709 | €328,761 | +€408,470 | |
| Profit (loss) for the period to be appropriated | 9905 | -€79,709 | €328,761 | +€408,470 |
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 31 October 2026 via checked.be.