LBZ: 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.
LBZ
Largest movements
- Receivables within one year +€91,983
up €91,983 (+28.9%), from €318,509 to €410,492
of which Other amounts receivable: +€53,748
- Tangible fixed assets +€47,352
up €47,352 (+36.4%), from €130,155 to €177,507
of which Plant, machinery and equipment: +€54,140
- Deferred charges and accrued income -€12,311
down €12,311 (-72.2%), from €17,062 to €4,752
- Cash +€10,431
up €10,431 (+14.2%), from €73,396 to €83,826
mainly Net result for the year (+€62,645) and Debts after one year (+€37,615)
- Reserves +€62,645
up €62,645 (+25.0%), from €250,367 to €313,012
- Debts after one year +€37,615
up €37,615 (+231.1%), from €16,277 to €53,892
- Trade debts +€32,745
up €32,745 (+8.3%), from €396,062 to €428,807
- Current portion of long-term debt +€10,427
up €10,427 (+233.7%), from €4,462 to €14,888
- Staff costs +€37,144
up €37,144 (+7.9%), from €472,668 to €509,812
- Gross operating margin +€17,763
up €17,763 (+2.8%), from €628,968 to €646,730
- Taxes -€6,862
down €6,862 (-23.4%), from €29,272 to €22,410
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 | €764,224 | €904,643 | +€140,418 | +18.4% |
| Fixed assets | 21/28 | €130,155 | €177,507 | +€47,352 | +36.4% |
| Tangible fixed assets | 22/27 | €130,155 | €177,507 | +€47,352 | +36.4% |
| Plant, machinery and equipment | 23 | €40,114 | €94,255 | +€54,140 | +135.0% |
| Furniture and vehicles | 24 | €2,991 | €14,243 | +€11,252 | +376.2% |
| Other tangible fixed assets | 26 | €87,049 | €69,009 | -€18,040 | -20.7% |
| Current assets | 29/58 | €634,069 | €727,136 | +€93,066 | +14.7% |
| Stocks and contracts in progress | 3 | €225,102 | €228,065 | +€2,963 | +1.3% |
| Stocks | 30/36 | €225,102 | €228,065 | +€2,963 | +1.3% |
| Amounts receivable within one year | 40/41 | €318,509 | €410,492 | +€91,983 | +28.9% |
| Trade receivables | 40 | €178,650 | €216,885 | +€38,235 | +21.4% |
| Other amounts receivable | 41 | €139,860 | €193,607 | +€53,748 | +38.4% |
| Cash at bank and in hand | 54/58 | €73,396 | €83,826 | +€10,431 | +14.2% |
| Deferred charges and accrued income | 490/1 | €17,062 | €4,752 | -€12,311 | -72.2% |
| Total equity and liabilities | 10/49 | €764,224 | €904,643 | +€140,418 | +18.4% |
| Equity | 10/15 | €280,367 | €343,012 | +€62,645 | +22.3% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €250,367 | €313,012 | +€62,645 | +25.0% |
| Distributable reserves | 133 | €250,367 | €313,012 | +€62,645 | +25.0% |
| Amounts payable | 17/49 | €483,857 | €561,631 | +€77,773 | +16.1% |
| Amounts payable after more than one year | 17 | €16,277 | €53,892 | +€37,615 | +231.1% |
| Financial debts | 170/4 | €16,277 | €53,892 | +€37,615 | +231.1% |
| Amounts payable within one year | 42/48 | €466,330 | €505,466 | +€39,136 | +8.4% |
| Current portion of amounts payable after more than one year | 42 | €4,462 | €14,888 | +€10,427 | +233.7% |
| Trade debts | 44 | €396,062 | €428,807 | +€32,745 | +8.3% |
| Suppliers | 440/4 | €396,062 | €428,807 | +€32,745 | +8.3% |
| Taxes, remuneration and social security | 45 | €63,550 | €61,770 | -€1,780 | -2.8% |
| Taxes | 450/3 | €12,827 | €6,123 | -€6,704 | -52.3% |
| Remuneration and social security | 454/9 | €50,723 | €55,647 | +€4,924 | +9.7% |
| Other amounts payable | 47/48 | €2,256 | €0 | -€2,256 | -100.0% |
| Accrued charges and deferred income | 492/3 | €1,250 | €2,272 | +€1,022 | +81.8% |
| Non-recurring operating income | 76A | €3,500 | €1,266 | -€2,234 | -63.8% |
| Remuneration, social security and pensions | 62 | €472,668 | €509,812 | +€37,144 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,456 | €37,089 | +€3,632 | +10.9% |
| Other operating charges | 640/8 | €10,105 | €10,636 | +€531 | +5.3% |
| Gross operating margin | 9900 | €628,968 | €646,730 | +€17,763 | +2.8% |
| Operating profit (loss) | 9901 | €112,739 | €89,194 | -€23,545 | -20.9% |
| Financial income | 75/76B | €2,066 | €2,387 | +€321 | +15.5% |
| Recurring financial income | 75 | €2,066 | €2,387 | +€321 | +15.5% |
| Financial charges | 65/66B | €3,914 | €6,526 | +€2,612 | +66.7% |
| Recurring financial charges | 65 | €3,914 | €6,526 | +€2,612 | +66.7% |
| Profit (loss) for the period before taxes | 9903 | €110,891 | €85,055 | -€25,836 | -23.3% |
| Income taxes | 67/77 | €29,272 | €22,410 | -€6,862 | -23.4% |
| Profit (loss) for the period | 9904 | €81,619 | €62,645 | -€18,974 | -23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €81,619 | €62,645 | -€18,974 | -23.2% |
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 12 October 2026 via checked.be.