LBPATH: 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.
LBPATH
Largest movements
- Receivables after one year -€27,833
down €27,833 (-100.0%), from €27,833 to €0
- Receivables within one year -€19,121
down €19,121 (-19.6%), from €97,766 to €78,645
of which Trade receivables: -€10,967
- Tangible fixed assets -€15,901
down €15,901 (-21.4%), from €74,392 to €58,490
of which Furniture and vehicles: -€15,488
- Cash +€6,108
up €6,108 (+2.5%), from €240,067 to €246,175
mainly Other debts (+€186,692) and Net result for the year (+€131,652)
- Reserves -€336,397
down €336,397 (-88.4%), from €380,397 to €44,000
- Other debts +€186,692
up €186,692, from €0 to €186,692
- Profit (loss) carried forward +€83,049
up €83,049 (+17722.1%), from €469 to €83,518
- Tax, wage and social debts +€23,071
up €23,071 (+332.9%), from €6,929 to €30,000
- Debts after one year -€13,491
down €13,491 (-32.9%), from €40,993 to €27,501
- Gross operating margin -€113,610
down €113,610 (-37.8%), from €300,206 to €186,596
- Taxes -€27,757
down €27,757 (-41.4%), from €67,041 to €39,284
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 | €446,343 | €389,483 | -€56,860 | -12.7% |
| Fixed assets | 21/28 | €74,392 | €58,490 | -€15,901 | -21.4% |
| Tangible fixed assets | 22/27 | €74,392 | €58,490 | -€15,901 | -21.4% |
| Plant, machinery and equipment | 23 | €1,651 | €1,238 | -€413 | -25.0% |
| Furniture and vehicles | 24 | €72,740 | €57,252 | -€15,488 | -21.3% |
| Current assets | 29/58 | €371,952 | €330,993 | -€40,959 | -11.0% |
| Amounts receivable after more than one year | 29 | €27,833 | €0 | -€27,833 | -100.0% |
| Other amounts receivable | 291 | €27,833 | €0 | -€27,833 | -100.0% |
| Amounts receivable within one year | 40/41 | €97,766 | €78,645 | -€19,121 | -19.6% |
| Trade receivables | 40 | €83,582 | €72,615 | -€10,967 | -13.1% |
| Other amounts receivable | 41 | €14,184 | €6,030 | -€8,154 | -57.5% |
| Cash at bank and in hand | 54/58 | €240,067 | €246,175 | +€6,108 | +2.5% |
| Deferred charges and accrued income | 490/1 | €6,287 | €6,174 | -€113 | -1.8% |
| Total equity and liabilities | 10/49 | €446,343 | €389,483 | -€56,860 | -12.7% |
| Equity | 10/15 | €383,866 | €130,518 | -€253,348 | -66.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €380,397 | €44,000 | -€336,397 | -88.4% |
| Distributable reserves | 133 | €380,397 | €44,000 | -€336,397 | -88.4% |
| Profit (loss) carried forward | 14 | €469 | €83,518 | +€83,049 | +17722.1% |
| Amounts payable | 17/49 | €62,477 | €258,965 | +€196,488 | +314.5% |
| Amounts payable after more than one year | 17 | €40,993 | €27,501 | -€13,491 | -32.9% |
| Financial debts | 170/4 | €40,993 | €27,501 | -€13,491 | -32.9% |
| Amounts payable within one year | 42/48 | €21,484 | €231,442 | +€209,958 | +977.3% |
| Current portion of amounts payable after more than one year | 42 | €12,935 | €13,491 | +€556 | +4.3% |
| Trade debts | 44 | €1,620 | €1,259 | -€361 | -22.3% |
| Suppliers | 440/4 | €1,620 | €1,259 | -€361 | -22.3% |
| Taxes, remuneration and social security | 45 | €6,929 | €30,000 | +€23,071 | +332.9% |
| Taxes | 450/3 | €6,929 | €30,000 | +€23,071 | +332.9% |
| Other amounts payable | 47/48 | €0 | €186,692 | +€186,692 | |
| Accrued charges and deferred income | 492/3 | €0 | €22 | +€22 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,959 | €15,901 | +€1,943 | +13.9% |
| Other operating charges | 640/8 | €1,270 | €700 | -€571 | -44.9% |
| Gross operating margin | 9900 | €300,206 | €186,596 | -€113,610 | -37.8% |
| Operating profit (loss) | 9901 | €284,977 | €169,995 | -€114,982 | -40.3% |
| Financial income | 75/76B | €1,386 | €3,118 | +€1,731 | +124.9% |
| Recurring financial income | 75 | €1,386 | €3,118 | +€1,731 | +124.9% |
| Financial charges | 65/66B | €2,695 | €2,177 | -€518 | -19.2% |
| Recurring financial charges | 65 | €2,695 | €2,177 | -€518 | -19.2% |
| Profit (loss) for the period before taxes | 9903 | €283,668 | €170,935 | -€112,733 | -39.7% |
| Income taxes | 67/77 | €67,041 | €39,284 | -€27,757 | -41.4% |
| Profit (loss) for the period | 9904 | €216,628 | €131,652 | -€84,976 | -39.2% |
| Profit (loss) for the period to be appropriated | 9905 | €216,628 | €131,652 | -€84,976 | -39.2% |
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.