LBR: 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.
LBR
Largest movements
- Tangible fixed assets -€29,703
down €29,703 (-30.1%), from €98,840 to €69,137
of which Plant, machinery and equipment: -€16,403
- Stocks and contracts -€11,823
down €11,823 (-25.5%), from €46,389 to €34,566
- Cash +€9,469
up €9,469 (+6.7%), from €140,434 to €149,903
mainly Depreciation (+€29,703) and Trade debts (+€28,782)
- Tax, wage and social debts -€69,283
down €69,283 (-39.4%), from €176,017 to €106,734
of which Remuneration and social security: -€45,156
- Trade debts +€28,782
up €28,782 (+14.1%), from €204,299 to €233,081
- Accrued charges and deferred income +€22,181
up €22,181 (+138.0%), from €16,076 to €38,257
- Debts after one year -€22,092
down €22,092 (-49.6%), from €44,529 to €22,437
- Other debts +€9,970
up €9,970 (+14.6%), from €68,451 to €78,421
- Staff costs -€46,415
down €46,415 (-9.9%), from €466,794 to €420,379
- Gross operating margin -€20,039
down €20,039 (-4.1%), from €487,221 to €467,181
- Other operating charges +€9,726
up €9,726 (+1363.5%), from €713 to €10,440
- Taxes -€9,290
no longer reported in 2025 (was €9,290)
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 | €525,234 | €498,447 | -€26,787 | -5.1% |
| Fixed assets | 21/28 | €105,724 | €76,696 | -€29,028 | -27.5% |
| Tangible fixed assets | 22/27 | €98,840 | €69,137 | -€29,703 | -30.1% |
| Plant, machinery and equipment | 23 | €69,764 | €53,361 | -€16,403 | -23.5% |
| Furniture and vehicles | 24 | €7,410 | €3,895 | -€3,515 | -47.4% |
| Other tangible fixed assets | 26 | €21,667 | €11,882 | -€9,785 | -45.2% |
| Financial fixed assets | 28 | €6,884 | €7,559 | +€675 | +9.8% |
| Current assets | 29/58 | €419,509 | €421,751 | +€2,241 | +0.5% |
| Stocks and contracts in progress | 3 | €46,389 | €34,566 | -€11,823 | -25.5% |
| Stocks | 30/36 | €46,389 | €34,566 | -€11,823 | -25.5% |
| Amounts receivable within one year | 40/41 | €228,754 | €228,465 | -€288 | -0.1% |
| Other amounts receivable | 41 | €228,754 | €228,465 | -€288 | -0.1% |
| Cash at bank and in hand | 54/58 | €140,434 | €149,903 | +€9,469 | +6.7% |
| Deferred charges and accrued income | 490/1 | €3,932 | €8,816 | +€4,884 | +124.2% |
| Total equity and liabilities | 10/49 | €525,234 | €498,447 | -€26,787 | -5.1% |
| Equity | 10/15 | -€5,892 | -€2,576 | +€3,316 | +56.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Capital | 10 | - | €6,200 | +€6,200 | |
| Issued capital | 100 | - | €18,600 | +€18,600 | |
| Uncalled capital | 101 | - | €12,400 | +€12,400 | |
| Profit (loss) carried forward | 14 | -€12,092 | -€8,776 | +€3,316 | +27.4% |
| Amounts payable | 17/49 | €531,125 | €501,023 | -€30,103 | -5.7% |
| Amounts payable after more than one year | 17 | €44,529 | €22,437 | -€22,092 | -49.6% |
| Financial debts | 170/4 | €44,529 | €22,437 | -€22,092 | -49.6% |
| Amounts payable within one year | 42/48 | €470,520 | €440,328 | -€30,192 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €21,753 | €22,092 | +€340 | +1.6% |
| Trade debts | 44 | €204,299 | €233,081 | +€28,782 | +14.1% |
| Suppliers | 440/4 | €204,299 | €233,081 | +€28,782 | +14.1% |
| Taxes, remuneration and social security | 45 | €176,017 | €106,734 | -€69,283 | -39.4% |
| Taxes | 450/3 | €32,850 | €8,723 | -€24,127 | -73.4% |
| Remuneration and social security | 454/9 | €143,167 | €98,011 | -€45,156 | -31.5% |
| Other amounts payable | 47/48 | €68,451 | €78,421 | +€9,970 | +14.6% |
| Accrued charges and deferred income | 492/3 | €16,076 | €38,257 | +€22,181 | +138.0% |
| Remuneration, social security and pensions | 62 | €466,794 | €420,379 | -€46,415 | -9.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,295 | €29,703 | -€1,592 | -5.1% |
| Other operating charges | 640/8 | €713 | €10,440 | +€9,726 | +1363.5% |
| Gross operating margin | 9900 | €487,221 | €467,181 | -€20,039 | -4.1% |
| Operating profit (loss) | 9901 | -€11,582 | €6,660 | +€18,242 | |
| Financial income | 75/76B | €235 | €3,343 | +€3,108 | +1323.1% |
| Recurring financial income | 75 | €235 | €3,343 | +€3,108 | +1323.1% |
| Financial charges | 65/66B | €6,432 | €6,686 | +€255 | +4.0% |
| Recurring financial charges | 65 | €6,432 | €6,686 | +€255 | +4.0% |
| Profit (loss) for the period before taxes | 9903 | -€17,779 | €3,316 | +€21,095 | |
| Income taxes | 67/77 | €9,290 | - | -€9,290 | |
| Profit (loss) for the period | 9904 | -€27,069 | €3,316 | +€30,385 | |
| Profit (loss) for the period to be appropriated | 9905 | -€27,069 | €3,316 | +€30,385 |
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 9 October 2026 via checked.be.