LBL: 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.
LBL
Largest movements
- Financial fixed assets +€750,000
up €750,000 (+18.2%), from €4.1m to €4.9m
- Tangible fixed assets -€125,639
down €125,639 (-11.2%), from €1.1m to €994,166
of which Furniture and vehicles: -€73,293
- Other debts +€452,897
up €452,897 (+728.7%), from €62,155 to €515,052
- Reserves +€244,476
up €244,476 (+146.1%), from €167,336 to €411,812
- Debts after one year -€104,262
down €104,262 (-2.1%), from €5.0m to €4.9m
of which Financial debts: -€104,262
- Financial income +€250,001
up €250,001, from €0 to €250,001
- Taxes +€27,493
up €27,493 (+334.6%), from €8,218 to €35,711
- Staff costs -€13,283
down €13,283, from €13,093 to -€191
- Gross operating margin -€9,404
down €9,404 (-4.8%), from €195,104 to €185,700
- Depreciation +€6,186
up €6,186 (+5.0%), from €123,113 to €129,299
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 | €5,382,966 | €6,038,917 | +€655,951 | +12.2% |
| Fixed assets | 21/28 | €5,246,275 | €5,870,636 | +€624,361 | +11.9% |
| Tangible fixed assets | 22/27 | €1,119,805 | €994,166 | -€125,639 | -11.2% |
| Land and buildings | 22 | €90,391 | €87,641 | -€2,750 | -3.0% |
| Plant, machinery and equipment | 23 | €5,592 | €2,992 | -€2,600 | -46.5% |
| Furniture and vehicles | 24 | €358,079 | €284,787 | -€73,293 | -20.5% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Other tangible fixed assets | 26 | €665,743 | €618,746 | -€46,997 | -7.1% |
| Financial fixed assets | 28 | €4,126,470 | €4,876,470 | +€750,000 | +18.2% |
| Current assets | 29/58 | €136,691 | €168,281 | +€31,591 | +23.1% |
| Amounts receivable within one year | 40/41 | €112,503 | €121,864 | +€9,361 | +8.3% |
| Trade receivables | 40 | €105,780 | €118,800 | +€13,020 | +12.3% |
| Other amounts receivable | 41 | €6,723 | €3,064 | -€3,659 | -54.4% |
| Cash at bank and in hand | 54/58 | €17,908 | €41,377 | +€23,469 | +131.1% |
| Deferred charges and accrued income | 490/1 | €6,280 | €5,040 | -€1,240 | -19.7% |
| Total equity and liabilities | 10/49 | €5,382,966 | €6,038,917 | +€655,951 | +12.2% |
| Equity | 10/15 | €188,839 | €433,316 | +€244,476 | +129.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €167,336 | €411,812 | +€244,476 | +146.1% |
| Distributable reserves | 133 | €167,336 | €411,812 | +€244,476 | +146.1% |
| Profit (loss) carried forward | 14 | €1,504 | €1,504 | = | 0.0% |
| Amounts payable | 17/49 | €5,194,127 | €5,605,601 | +€411,475 | +7.9% |
| Amounts payable after more than one year | 17 | €5,001,906 | €4,897,644 | -€104,262 | -2.1% |
| Financial debts | 170/4 | €943,804 | €839,543 | -€104,262 | -11.0% |
| Other amounts payable | 178/9 | €4,058,101 | €4,058,101 | = | 0.0% |
| Amounts payable within one year | 42/48 | €189,942 | €702,743 | +€512,801 | +270.0% |
| Current portion of amounts payable after more than one year | 42 | €101,371 | €107,260 | +€5,889 | +5.8% |
| Trade debts | 44 | €14,990 | €15,938 | +€949 | +6.3% |
| Suppliers | 440/4 | €14,990 | €15,938 | +€949 | +6.3% |
| Taxes, remuneration and social security | 45 | €11,427 | €64,493 | +€53,066 | +464.4% |
| Taxes | 450/3 | €11,427 | €60,493 | +€49,066 | +429.4% |
| Remuneration and social security | 454/9 | €0 | €4,000 | +€4,000 | |
| Other amounts payable | 47/48 | €62,155 | €515,052 | +€452,897 | +728.7% |
| Accrued charges and deferred income | 492/3 | €2,278 | €5,214 | +€2,936 | +128.8% |
| Non-recurring operating income | 76A | €27,815 | €10,000 | -€17,815 | -64.0% |
| Remuneration, social security and pensions | 62 | €13,093 | -€191 | -€13,283 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €123,113 | €129,299 | +€6,186 | +5.0% |
| Other operating charges | 640/8 | €11,586 | €6,105 | -€5,482 | -47.3% |
| Gross operating margin | 9900 | €195,104 | €185,700 | -€9,404 | -4.8% |
| Operating profit (loss) | 9901 | €47,312 | €50,487 | +€3,175 | +6.7% |
| Financial income | 75/76B | €0 | €250,001 | +€250,001 | |
| Recurring financial income | 75 | €0 | €250,001 | +€250,001 | |
| Financial charges | 65/66B | €25,831 | €20,301 | -€5,530 | -21.4% |
| Recurring financial charges | 65 | €25,831 | €20,301 | -€5,530 | -21.4% |
| Profit (loss) for the period before taxes | 9903 | €21,481 | €280,187 | +€258,706 | +1204.3% |
| Income taxes | 67/77 | €8,218 | €35,711 | +€27,493 | +334.6% |
| Profit (loss) for the period | 9904 | €13,264 | €244,476 | +€231,213 | +1743.2% |
| Profit (loss) for the period to be appropriated | 9905 | €13,264 | €244,476 | +€231,213 | +1743.2% |
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 9 October 2026 via checked.be.