LED: 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.
LED
Largest movements
- Receivables within one year +€3,372
up €3,372 (+20.7%), from €16,287 to €19,659
of which Trade receivables: +€3,467
- Deferred charges and accrued income +€727
new in 2025: €727
- Reserves +€14,000
up €14,000 (+40.6%), from €34,500 to €48,500
- Trade debts +€10,325
up €10,325 (+91.5%), from €11,278 to €21,603
- Debts after one year -€10,000
no longer reported in 2025 (was €10,000)
- Tax, wage and social debts -€9,755
no longer reported in 2025 (was €9,755)
- Gross operating margin -€26,719
down €26,719 (-49.7%), from €53,801 to €27,081
- Taxes -€5,756
down €5,756 (-59.0%), from €9,755 to €3,999
- Financial charges +€1,437
up €1,437 (+305%), from €471 to €1,909
- Other operating charges -€1,276
down €1,276 (-60.6%), from €2,105 to €829
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 | €68,316 | €72,219 | +€3,903 | +5.7% |
| Fixed assets | 21/28 | €13,333 | €13,269 | -€64 | -0.5% |
| Tangible fixed assets | 22/27 | €13,333 | €13,269 | -€64 | -0.5% |
| Plant, machinery and equipment | 23 | €1,000 | €500 | -€500 | -50.0% |
| Furniture and vehicles | 24 | €12,333 | €9,773 | -€2,560 | -20.8% |
| Other tangible fixed assets | 26 | - | €2,996 | +€2,996 | |
| Current assets | 29/58 | €54,983 | €58,950 | +€3,967 | +7.2% |
| Amounts receivable within one year | 40/41 | €16,287 | €19,659 | +€3,372 | +20.7% |
| Trade receivables | 40 | €13,055 | €16,522 | +€3,467 | +26.6% |
| Other amounts receivable | 41 | €3,232 | €3,138 | -€94 | -2.9% |
| Cash at bank and in hand | 54/58 | €38,696 | €38,564 | -€132 | -0.3% |
| Deferred charges and accrued income | 490/1 | - | €727 | +€727 | |
| Total equity and liabilities | 10/49 | €68,316 | €72,219 | +€3,903 | +5.7% |
| Equity | 10/15 | €36,970 | €50,616 | +€13,646 | +36.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €34,500 | €48,500 | +€14,000 | +40.6% |
| Distributable reserves | 133 | €34,500 | €48,500 | +€14,000 | +40.6% |
| Profit (loss) carried forward | 14 | €470 | €116 | -€354 | -75.3% |
| Amounts payable | 17/49 | €31,346 | €21,603 | -€9,743 | -31.1% |
| Amounts payable after more than one year | 17 | €10,000 | - | -€10,000 | |
| Financial debts | 170/4 | €10,000 | - | -€10,000 | |
| Amounts payable within one year | 42/48 | €21,346 | €21,603 | +€257 | +1.2% |
| Trade debts | 44 | €11,278 | €21,603 | +€10,325 | +91.5% |
| Suppliers | 440/4 | €11,278 | €21,603 | +€10,325 | +91.5% |
| Taxes, remuneration and social security | 45 | €9,755 | - | -€9,755 | |
| Taxes | 450/3 | €9,755 | - | -€9,755 | |
| Other amounts payable | 47/48 | €313 | - | -€313 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,667 | €7,203 | +€536 | +8.0% |
| Other operating charges | 640/8 | €2,105 | €829 | -€1,276 | -60.6% |
| Gross operating margin | 9900 | €53,801 | €27,081 | -€26,719 | -49.7% |
| Operating profit (loss) | 9901 | €45,029 | €19,049 | -€25,980 | -57.7% |
| Financial income | 75/76B | €167 | €505 | +€338 | +202% |
| Recurring financial income | 75 | €167 | €505 | +€338 | +202% |
| Financial charges | 65/66B | €471 | €1,909 | +€1,437 | +305% |
| Recurring financial charges | 65 | €471 | €1,909 | +€1,437 | +305% |
| Profit (loss) for the period before taxes | 9903 | €44,725 | €17,645 | -€27,080 | -60.5% |
| Income taxes | 67/77 | €9,755 | €3,999 | -€5,756 | -59.0% |
| Profit (loss) for the period | 9904 | €34,970 | €13,646 | -€21,324 | -61.0% |
| Profit (loss) for the period to be appropriated | 9905 | €34,970 | €13,646 | -€21,324 | -61.0% |
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 16 October 2026 via checked.be.