LC FINANCE: 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 FINANCE
Largest movements
- Tangible fixed assets +€475,926
up €475,926 (+120%), from €395,673 to €871,599
of which Land and buildings: +€476,646
- Cash -€263,443
down €263,443 (-66.0%), from €399,208 to €135,765
mainly Investment in fixed assets (net) (-€494,165) and Trade debts (-€27,295)
- Receivables within one year +€25,636
new in 2025: €25,636
- Debts after one year +€197,480
up €197,480 (+54.3%), from €363,801 to €561,281
of which Financial debts: +€237,920
- Advances received +€50,000
new in 2025: €50,000
- Trade debts -€27,295
down €27,295 (-54.8%), from €49,841 to €22,546
- Reserves +€22,500
up €22,500 (+3.1%), from €720,000 to €742,500
- Tax, wage and social debts -€14,873
no longer reported in 2025 (was €14,873)
- Gross operating margin -€95,846
down €95,846 (-54.1%), from €177,213 to €81,368
- Taxes -€37,009
down €37,009 (-74.2%), from €49,873 to €12,864
- Other operating charges +€22,721
up €22,721 (+2,301%), from €988 to €23,709
- Depreciation +€5,224
up €5,224 (+40.1%), from €13,014 to €18,238
- Financial charges +€5,085
up €5,085 (+123%), from €4,141 to €9,226
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.
Derived cash bridge
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 | €1,195,351 | €1,435,392 | +€240,041 | +20.1% |
| Fixed assets | 21/28 | €766,143 | €1,242,069 | +€475,926 | +62.1% |
| Tangible fixed assets | 22/27 | €395,673 | €871,599 | +€475,926 | +120% |
| Land and buildings | 22 | €394,697 | €871,343 | +€476,646 | +121% |
| Furniture and vehicles | 24 | €976 | €256 | -€720 | -73.7% |
| Financial fixed assets | 28 | €370,470 | €370,470 | = | 0.0% |
| Current assets | 29/58 | €429,208 | €193,323 | -€235,885 | -55.0% |
| Amounts receivable after more than one year | 29 | €30,000 | €30,000 | = | 0.0% |
| Trade receivables | 290 | €30,000 | €30,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | - | €25,636 | +€25,636 | |
| Other amounts receivable | 41 | - | €25,636 | +€25,636 | |
| Cash at bank and in hand | 54/58 | €399,208 | €135,765 | -€263,443 | -66.0% |
| Deferred charges and accrued income | 490/1 | - | €1,921 | +€1,921 | |
| Total equity and liabilities | 10/49 | €1,195,351 | €1,435,392 | +€240,041 | +20.1% |
| Equity | 10/15 | €728,687 | €749,889 | +€21,202 | +2.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €720,000 | €742,500 | +€22,500 | +3.1% |
| Distributable reserves | 133 | €720,000 | €742,500 | +€22,500 | +3.1% |
| Profit (loss) carried forward | 14 | €3,687 | €2,389 | -€1,298 | -35.2% |
| Amounts payable | 17/49 | €466,664 | €685,502 | +€218,839 | +46.9% |
| Amounts payable after more than one year | 17 | €363,801 | €561,281 | +€197,480 | +54.3% |
| Financial debts | 170/4 | €250,248 | €488,168 | +€237,920 | +95.1% |
| Other amounts payable | 178/9 | €113,553 | €73,113 | -€40,440 | -35.6% |
| Amounts payable within one year | 42/48 | €102,863 | €124,222 | +€21,359 | +20.8% |
| Current portion of amounts payable after more than one year | 42 | €38,149 | €51,676 | +€13,526 | +35.5% |
| Trade debts | 44 | €49,841 | €22,546 | -€27,295 | -54.8% |
| Suppliers | 440/4 | €49,841 | €22,546 | -€27,295 | -54.8% |
| Advances received on contracts in progress | 46 | - | €50,000 | +€50,000 | |
| Taxes, remuneration and social security | 45 | €14,873 | - | -€14,873 | |
| Taxes | 450/3 | €14,873 | - | -€14,873 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,014 | €18,238 | +€5,224 | +40.1% |
| Other operating charges | 640/8 | €988 | €23,709 | +€22,721 | +2,301% |
| Gross operating margin | 9900 | €177,213 | €81,368 | -€95,846 | -54.1% |
| Operating profit (loss) | 9901 | €163,212 | €39,421 | -€123,791 | -75.8% |
| Financial income | 75/76B | €7,335 | €3,871 | -€3,464 | -47.2% |
| Recurring financial income | 75 | €7,335 | €3,871 | -€3,464 | -47.2% |
| Financial charges | 65/66B | €4,141 | €9,226 | +€5,085 | +123% |
| Recurring financial charges | 65 | €4,141 | €9,226 | +€5,085 | +123% |
| Profit (loss) for the period before taxes | 9903 | €166,406 | €34,066 | -€132,340 | -79.5% |
| Income taxes | 67/77 | €49,873 | €12,864 | -€37,009 | -74.2% |
| Profit (loss) for the period | 9904 | €116,533 | €21,202 | -€95,331 | -81.8% |
| Profit (loss) for the period to be appropriated | 9905 | €116,533 | €21,202 | -€95,331 | -81.8% |
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 31 October 2026 via checked.be.