LCD: 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.
LCD
Largest movements
- Receivables within one year -€98,585
down €98,585 (-15.7%), from €627,182 to €528,596
of which Trade receivables: -€91,657
- Current investments +€81,119
new in 2025: €81,119
- Cash -€24,605
down €24,605 (-7.6%), from €323,117 to €298,512
mainly Current investments (-€81,119) and Contributions, distributions and other (-€78,947)
- Tangible fixed assets -€20,052
down €20,052 (-10.7%), from €188,285 to €168,232
of which Plant, machinery and equipment: -€20,505
- Tax, wage and social debts -€57,672
down €57,672 (-47.7%), from €120,886 to €63,214
of which Taxes: -€61,024
- Reserves +€34,258
up €34,258 (+5.6%), from €613,329 to €647,586
- Trade debts -€31,956
down €31,956 (-17.1%), from €187,032 to €155,077
- Short-term financial debts -€16,532
down €16,532 (-14.7%), from €112,551 to €96,019
- Debts after one year +€14,458
up €14,458 (+15.0%), from €96,163 to €110,621
- Staff costs +€108,927
up €108,927 (+18.8%), from €578,205 to €687,132
- Taxes -€29,961
down €29,961 (-36.5%), from €81,980 to €52,020
- Gross operating margin +€16,673
up €16,673 (+1.8%), from €909,027 to €925,700
- Write-downs -€10,000
no longer reported in 2025 (was €10,000)
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 | €1,220,524 | €1,174,029 | -€46,495 | -3.8% |
| Fixed assets | 21/28 | €190,188 | €170,122 | -€20,066 | -10.6% |
| Intangible fixed assets | 21 | €14 | - | -€14 | |
| Tangible fixed assets | 22/27 | €188,285 | €168,232 | -€20,052 | -10.7% |
| Plant, machinery and equipment | 23 | €88,788 | €68,283 | -€20,505 | -23.1% |
| Furniture and vehicles | 24 | €86,272 | €89,449 | +€3,177 | +3.7% |
| Other tangible fixed assets | 26 | €13,225 | €10,500 | -€2,725 | -20.6% |
| Financial fixed assets | 28 | €1,890 | €1,890 | = | 0.0% |
| Current assets | 29/58 | €1,030,336 | €1,003,907 | -€26,429 | -2.6% |
| Stocks and contracts in progress | 3 | €74,959 | €86,799 | +€11,841 | +15.8% |
| Stocks | 30/36 | €74,959 | €86,799 | +€11,841 | +15.8% |
| Amounts receivable within one year | 40/41 | €627,182 | €528,596 | -€98,585 | -15.7% |
| Trade receivables | 40 | €359,318 | €267,661 | -€91,657 | -25.5% |
| Other amounts receivable | 41 | €267,863 | €260,935 | -€6,928 | -2.6% |
| Current investments | 50/53 | - | €81,119 | +€81,119 | |
| Cash at bank and in hand | 54/58 | €323,117 | €298,512 | -€24,605 | -7.6% |
| Deferred charges and accrued income | 490/1 | €5,079 | €8,881 | +€3,802 | +74.9% |
| Total equity and liabilities | 10/49 | €1,220,524 | €1,174,029 | -€46,495 | -3.8% |
| Equity | 10/15 | €639,514 | €673,772 | +€34,258 | +5.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €613,329 | €647,586 | +€34,258 | +5.6% |
| Distributable reserves | 133 | €613,329 | €647,586 | +€34,258 | +5.6% |
| Profit (loss) carried forward | 14 | €19,986 | €19,986 | = | 0.0% |
| Amounts payable | 17/49 | €581,010 | €500,257 | -€80,753 | -13.9% |
| Amounts payable after more than one year | 17 | €96,163 | €110,621 | +€14,458 | +15.0% |
| Financial debts | 170/4 | €96,163 | €110,621 | +€14,458 | +15.0% |
| Amounts payable within one year | 42/48 | €484,404 | €389,636 | -€94,768 | -19.6% |
| Current portion of amounts payable after more than one year | 42 | €58,806 | €68,297 | +€9,491 | +16.1% |
| Financial debts | 43 | €112,551 | €96,019 | -€16,532 | -14.7% |
| Credit institutions | 430/8 | €112,551 | €96,019 | -€16,532 | -14.7% |
| Trade debts | 44 | €187,032 | €155,077 | -€31,956 | -17.1% |
| Suppliers | 440/4 | €187,032 | €155,077 | -€31,956 | -17.1% |
| Taxes, remuneration and social security | 45 | €120,886 | €63,214 | -€57,672 | -47.7% |
| Taxes | 450/3 | €70,684 | €9,660 | -€61,024 | -86.3% |
| Remuneration and social security | 454/9 | €50,202 | €53,555 | +€3,353 | +6.7% |
| Other amounts payable | 47/48 | €5,129 | €7,029 | +€1,900 | +37.0% |
| Accrued charges and deferred income | 492/3 | €443 | - | -€443 | |
| Non-recurring operating income | 76A | €9,761 | €4,545 | -€5,215 | -53.4% |
| Remuneration, social security and pensions | 62 | €578,205 | €687,132 | +€108,927 | +18.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,333 | €60,535 | +€6,202 | +11.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €10,000 | - | -€10,000 | |
| Other operating charges | 640/8 | €7,783 | €10,970 | +€3,187 | +41.0% |
| Gross operating margin | 9900 | €909,027 | €925,700 | +€16,673 | +1.8% |
| Operating profit (loss) | 9901 | €258,706 | €167,063 | -€91,642 | -35.4% |
| Financial income | 75/76B | €9,639 | €8,873 | -€766 | -7.9% |
| Recurring financial income | 75 | €9,639 | €8,873 | -€766 | -7.9% |
| Financial charges | 65/66B | €12,793 | €10,711 | -€2,081 | -16.3% |
| Recurring financial charges | 65 | €12,793 | €8,921 | -€3,872 | -30.3% |
| Non-recurring financial charges | 66B | - | €1,790 | +€1,790 | |
| Profit (loss) for the period before taxes | 9903 | €255,552 | €165,225 | -€90,327 | -35.3% |
| Income taxes | 67/77 | €81,980 | €52,020 | -€29,961 | -36.5% |
| Profit (loss) for the period | 9904 | €173,571 | €113,205 | -€60,366 | -34.8% |
| Profit (loss) for the period to be appropriated | 9905 | €173,571 | €113,205 | -€60,366 | -34.8% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.