LCI: 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.
LCI
Largest movements
- Tangible fixed assets -€70,631
down €70,631 (-22.1%), from €320,087 to €249,456
of which Plant, machinery and equipment: -€43,707
- Cash +€57,070
up €57,070 (+74.0%), from €77,149 to €134,219
mainly Depreciation (+€92,881) and Net result for the year (+€22,629)
- Receivables within one year +€19,108
up €19,108 (+55.1%), from €34,658 to €53,766
of which Other amounts receivable: +€10,473
- Reserves +€22,600
up €22,600 (+10.3%), from €218,800 to €241,400
of which Distributable reserves: +€22,600
- Tax, wage and social debts -€10,744
down €10,744 (-14.6%), from €73,805 to €63,061
of which Remuneration and social security: -€13,298
- Debts after one year -€9,187
down €9,187 (-7.4%), from €123,479 to €114,292
- Gross operating margin +€25,878
up €25,878 (+26.3%), from €98,524 to €124,403
- Taxes +€8,631
up €8,631 (+618%), from €1,396 to €10,027
- Write-downs -€6,683
down €6,683 (-243%), from -€2,745 to -€9,428
- Depreciation +€5,070
up €5,070 (+5.8%), from €87,811 to €92,881
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 | €485,331 | €491,652 | +€6,320 | +1.3% |
| Fixed assets | 21/28 | €356,523 | €285,532 | -€70,990 | -19.9% |
| Intangible fixed assets | 21 | €1,436 | €1,077 | -€359 | -25.0% |
| Tangible fixed assets | 22/27 | €320,087 | €249,456 | -€70,631 | -22.1% |
| Land and buildings | 22 | €7,006 | €5,239 | -€1,767 | -25.2% |
| Plant, machinery and equipment | 23 | €179,259 | €135,552 | -€43,707 | -24.4% |
| Furniture and vehicles | 24 | €29,229 | €20,275 | -€8,954 | -30.6% |
| Leasing and similar rights | 25 | €48,516 | €36,918 | -€11,598 | -23.9% |
| Other tangible fixed assets | 26 | €56,077 | €51,472 | -€4,605 | -8.2% |
| Financial fixed assets | 28 | €35,000 | €35,000 | = | 0.0% |
| Current assets | 29/58 | €128,809 | €206,120 | +€77,311 | +60.0% |
| Stocks and contracts in progress | 3 | €11,945 | €11,246 | -€699 | -5.9% |
| Stocks | 30/36 | €11,945 | €11,246 | -€699 | -5.9% |
| Amounts receivable within one year | 40/41 | €34,658 | €53,766 | +€19,108 | +55.1% |
| Trade receivables | 40 | €21,058 | €29,693 | +€8,635 | +41.0% |
| Other amounts receivable | 41 | €13,600 | €24,073 | +€10,473 | +77.0% |
| Cash at bank and in hand | 54/58 | €77,149 | €134,219 | +€57,070 | +74.0% |
| Deferred charges and accrued income | 490/1 | €5,057 | €6,889 | +€1,833 | +36.2% |
| Total equity and liabilities | 10/49 | €485,331 | €491,652 | +€6,320 | +1.3% |
| Equity | 10/15 | €250,993 | €273,623 | +€22,629 | +9.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €218,800 | €241,400 | +€22,600 | +10.3% |
| Tax-exempt reserves | 132 | €41,940 | €41,940 | = | 0.0% |
| Distributable reserves | 133 | €176,860 | €199,460 | +€22,600 | +12.8% |
| Profit (loss) carried forward | 14 | €13,593 | €13,623 | +€29 | +0.2% |
| Amounts payable | 17/49 | €234,338 | €218,029 | -€16,309 | -7.0% |
| Amounts payable after more than one year | 17 | €123,479 | €114,292 | -€9,187 | -7.4% |
| Financial debts | 170/4 | €123,479 | €114,292 | -€9,187 | -7.4% |
| Amounts payable within one year | 42/48 | €110,859 | €103,737 | -€7,122 | -6.4% |
| Current portion of amounts payable after more than one year | 42 | €23,117 | €24,187 | +€1,071 | +4.6% |
| Trade debts | 44 | €9,288 | €8,222 | -€1,066 | -11.5% |
| Suppliers | 440/4 | €9,288 | €8,222 | -€1,066 | -11.5% |
| Advances received on contracts in progress | 46 | €3,959 | €8,267 | +€4,308 | +109% |
| Taxes, remuneration and social security | 45 | €73,805 | €63,061 | -€10,744 | -14.6% |
| Taxes | 450/3 | €9,056 | €11,610 | +€2,554 | +28.2% |
| Remuneration and social security | 454/9 | €64,749 | €51,451 | -€13,298 | -20.5% |
| Other amounts payable | 47/48 | €690 | - | -€690 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,811 | €92,881 | +€5,070 | +5.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,745 | -€9,428 | -€6,683 | -243% |
| Other operating charges | 640/8 | €2,645 | €2,331 | -€314 | -11.9% |
| Gross operating margin | 9900 | €98,524 | €124,403 | +€25,878 | +26.3% |
| Operating profit (loss) | 9901 | €10,813 | €38,618 | +€27,805 | +257% |
| Financial income | 75/76B | €6 | - | -€6 | |
| Recurring financial income | 75 | €6 | - | -€6 | |
| Financial charges | 65/66B | €7,108 | €5,961 | -€1,146 | -16.1% |
| Recurring financial charges | 65 | €7,108 | €5,961 | -€1,146 | -16.1% |
| Profit (loss) for the period before taxes | 9903 | €3,712 | €32,657 | +€28,945 | +780% |
| Income taxes | 67/77 | €1,396 | €10,027 | +€8,631 | +618% |
| Profit (loss) for the period | 9904 | €2,316 | €22,629 | +€20,314 | +877% |
| Profit (loss) for the period to be appropriated | 9905 | €2,316 | €22,629 | +€20,314 | +877% |
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 13 October 2026 via checked.be.