LCR: 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.
LCR
Largest movements
- Cash +€57,163
up €57,163 (+23.4%), from €244,524 to €301,688
mainly Net result for the year (+€78,541) and Receivables within one year (+€24,466)
- Receivables within one year -€24,466
down €24,466 (-27.2%), from €90,026 to €65,560
of which Trade receivables: -€24,466
- Tangible fixed assets +€23,517
up €23,517 (+76.9%), from €30,587 to €54,104
- Profit (loss) carried forward +€78,541
up €78,541 (+39.2%), from €200,447 to €278,988
- Trade debts -€18,992
down €18,992 (-87.7%), from €21,652 to €2,660
- Gross operating margin +€58,156
up €58,156 (+23.0%), from €253,269 to €311,425
- Staff costs +€48,296
up €48,296 (+40.5%), from €119,195 to €167,491
- Depreciation +€6,386
up €6,386 (+65.3%), from €9,773 to €16,159
- Other operating charges +€4,653
up €4,653 (+138.1%), from €3,371 to €8,024
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 | €367,157 | €422,980 | +€55,823 | +15.2% |
| Fixed assets | 21/28 | €32,607 | €55,733 | +€23,126 | +70.9% |
| Intangible fixed assets | 21 | €781 | €391 | -€391 | -50.0% |
| Tangible fixed assets | 22/27 | €30,587 | €54,104 | +€23,517 | +76.9% |
| Plant, machinery and equipment | 23 | €8,844 | €20,061 | +€11,218 | +126.8% |
| Furniture and vehicles | 24 | €21,744 | €29,897 | +€8,154 | +37.5% |
| Other tangible fixed assets | 26 | - | €4,145 | +€4,145 | |
| Financial fixed assets | 28 | €1,238 | €1,238 | = | 0.0% |
| Current assets | 29/58 | €334,550 | €367,248 | +€32,697 | +9.8% |
| Amounts receivable within one year | 40/41 | €90,026 | €65,560 | -€24,466 | -27.2% |
| Trade receivables | 40 | €86,000 | €61,534 | -€24,466 | -28.4% |
| Other amounts receivable | 41 | €4,026 | €4,026 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €244,524 | €301,688 | +€57,163 | +23.4% |
| Total equity and liabilities | 10/49 | €367,157 | €422,980 | +€55,823 | +15.2% |
| Equity | 10/15 | €216,507 | €295,048 | +€78,541 | +36.3% |
| Contributions | 10/11 | €14,200 | €14,200 | = | 0.0% |
| Outside capital | 11 | €14,200 | €14,200 | = | 0.0% |
| Other | 1109/19 | €14,200 | €14,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €200,447 | €278,988 | +€78,541 | +39.2% |
| Amounts payable | 17/49 | €150,650 | €127,932 | -€22,718 | -15.1% |
| Amounts payable within one year | 42/48 | €150,650 | €127,932 | -€22,718 | -15.1% |
| Trade debts | 44 | €21,652 | €2,660 | -€18,992 | -87.7% |
| Suppliers | 440/4 | €21,652 | €2,660 | -€18,992 | -87.7% |
| Taxes, remuneration and social security | 45 | €109,055 | €108,888 | -€166 | -0.2% |
| Taxes | 450/3 | €88,743 | €92,045 | +€3,302 | +3.7% |
| Remuneration and social security | 454/9 | €20,312 | €16,844 | -€3,468 | -17.1% |
| Other amounts payable | 47/48 | €19,943 | €16,383 | -€3,560 | -17.8% |
| Remuneration, social security and pensions | 62 | €119,195 | €167,491 | +€48,296 | +40.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,773 | €16,159 | +€6,386 | +65.3% |
| Other operating charges | 640/8 | €3,371 | €8,024 | +€4,653 | +138.1% |
| Gross operating margin | 9900 | €253,269 | €311,425 | +€58,156 | +23.0% |
| Operating profit (loss) | 9901 | €120,930 | €119,751 | -€1,179 | -1.0% |
| Financial income | 75/76B | €9 | €155 | +€146 | +1556.5% |
| Recurring financial income | 75 | €9 | €155 | +€146 | +1556.5% |
| Financial charges | 65/66B | €7,422 | €8,854 | +€1,432 | +19.3% |
| Recurring financial charges | 65 | €7,422 | €8,854 | +€1,432 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | €113,517 | €111,052 | -€2,466 | -2.2% |
| Income taxes | 67/77 | €32,674 | €32,510 | -€164 | -0.5% |
| Profit (loss) for the period | 9904 | €80,843 | €78,541 | -€2,302 | -2.8% |
| Profit (loss) for the period to be appropriated | 9905 | €80,843 | €78,541 | -€2,302 | -2.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.