LC EXPERTISE: 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.
LC EXPERTISE
Largest movements
- Cash -€459,877
down €459,877 (-57.7%), from €796,623 to €336,745
mainly Contributions, distributions and other (-€632,092) and Investment in fixed assets (net) (-€331,452)
- Tangible fixed assets +€317,160
up €317,160 (+915.1%), from €34,660 to €351,821
of which Land and buildings: +€310,355
- Reserves -€489,493
down €489,493 (-82.1%), from €596,121 to €106,628
of which Distributable reserves: -€489,493
- Other debts +€325,611
up €325,611 (+105.8%), from €307,648 to €633,259
- Tax, wage and social debts +€26,428
up €26,428 (+95.1%), from €27,786 to €54,214
- Gross operating margin +€80,817
up €80,817 (+66.0%), from €122,382 to €203,200
- Taxes +€38,137
up €38,137 (+295.2%), from €12,920 to €51,057
- Financial income -€13,382
down €13,382 (-67.8%), from €19,724 to €6,343
- Depreciation +€5,761
up €5,761 (+67.5%), from €8,530 to €14,291
- Financial charges -€3,609
down €3,609 (-72.9%), from €4,948 to €1,339
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 | €951,601 | €813,620 | -€137,982 | -14.5% |
| Fixed assets | 21/28 | €34,685 | €351,846 | +€317,160 | +914.4% |
| Tangible fixed assets | 22/27 | €34,660 | €351,821 | +€317,160 | +915.1% |
| Land and buildings | 22 | €17,051 | €327,406 | +€310,355 | +1820.1% |
| Furniture and vehicles | 24 | €17,609 | €24,415 | +€6,806 | +38.6% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €916,916 | €461,774 | -€455,142 | -49.6% |
| Amounts receivable within one year | 40/41 | €119,914 | €123,392 | +€3,478 | +2.9% |
| Trade receivables | 40 | €1,180 | €13,774 | +€12,594 | +1067.6% |
| Other amounts receivable | 41 | €118,735 | €109,618 | -€9,116 | -7.7% |
| Cash at bank and in hand | 54/58 | €796,623 | €336,745 | -€459,877 | -57.7% |
| Deferred charges and accrued income | 490/1 | €379 | €1,637 | +€1,257 | +331.3% |
| Total equity and liabilities | 10/49 | €951,601 | €813,620 | -€137,982 | -14.5% |
| Equity | 10/15 | €614,721 | €125,228 | -€489,493 | -79.6% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €596,121 | €106,628 | -€489,493 | -82.1% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €57,768 | €57,768 | = | 0.0% |
| Distributable reserves | 133 | €536,493 | €47,000 | -€489,493 | -91.2% |
| Amounts payable | 17/49 | €336,881 | €688,392 | +€351,511 | +104.3% |
| Amounts payable within one year | 42/48 | €336,881 | €688,392 | +€351,511 | +104.3% |
| Trade debts | 44 | €1,447 | €919 | -€528 | -36.5% |
| Suppliers | 440/4 | €1,447 | €919 | -€528 | -36.5% |
| Taxes, remuneration and social security | 45 | €27,786 | €54,214 | +€26,428 | +95.1% |
| Taxes | 450/3 | €27,786 | €54,214 | +€26,428 | +95.1% |
| Other amounts payable | 47/48 | €307,648 | €633,259 | +€325,611 | +105.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,530 | €14,291 | +€5,761 | +67.5% |
| Other operating charges | 640/8 | €63 | €256 | +€193 | +306.1% |
| Gross operating margin | 9900 | €122,382 | €203,200 | +€80,817 | +66.0% |
| Operating profit (loss) | 9901 | €113,789 | €188,652 | +€74,863 | +65.8% |
| Financial income | 75/76B | €19,724 | €6,343 | -€13,382 | -67.8% |
| Recurring financial income | 75 | €19,724 | €6,343 | -€13,382 | -67.8% |
| Financial charges | 65/66B | €4,948 | €1,339 | -€3,609 | -72.9% |
| Recurring financial charges | 65 | €4,948 | €1,339 | -€3,609 | -72.9% |
| Profit (loss) for the period before taxes | 9903 | €128,565 | €193,655 | +€65,091 | +50.6% |
| Income taxes | 67/77 | €12,920 | €51,057 | +€38,137 | +295.2% |
| Profit (loss) for the period | 9904 | €115,645 | €142,599 | +€26,954 | +23.3% |
| Profit (loss) for the period to be appropriated | 9905 | €115,645 | €142,599 | +€26,954 | +23.3% |
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 11 October 2026 via checked.be.