LF Fine Arts: 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.
LF Fine Arts
Largest movements
- Cash +€33,022
up €33,022 (+361%), from €9,140 to €42,163
mainly Trade debts (+€43,994) and Short-term financial debts (+€25,000)
- Stocks and contracts +€19,468
up €19,468 (+36.4%), from €53,446 to €72,914
- Tangible fixed assets +€14,093
up €14,093 (+40.8%), from €34,545 to €48,638
- Receivables within one year +€11,990
up €11,990 (+368%), from €3,262 to €15,253
of which Trade receivables: +€11,773
- Intangible fixed assets +€9,470
up €9,470 (+48.1%), from €19,708 to €29,178
- Trade debts +€43,994
up €43,994 (+557%), from €7,900 to €51,893
- Short-term financial debts +€25,000
new in 2025: €25,000
- Other debts +€14,926
up €14,926 (+30.7%), from €48,637 to €63,563
- Tax, wage and social debts +€12,598
up €12,598 (+236%), from €5,345 to €17,942
of which Taxes: +€12,095
- Debts after one year -€6,967
down €6,967 (-39.8%), from €17,494 to €10,526
- Gross operating margin -€24,900
down €24,900 (-30.3%), from €82,075 to €57,175
- Depreciation +€5,529
up €5,529 (+113%), from €4,899 to €10,428
- Financial charges +€3,485
up €3,485 (+91.0%), from €3,829 to €7,315
- Taxes -€1,201
down €1,201 (-88.9%), from €1,350 to €149
- Staff costs +€1,037
up €1,037 (+2.6%), from €39,593 to €40,630
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 | €120,356 | €208,775 | +€88,419 | +73.5% |
| Fixed assets | 21/28 | €54,253 | €77,817 | +€23,563 | +43.4% |
| Intangible fixed assets | 21 | €19,708 | €29,178 | +€9,470 | +48.1% |
| Tangible fixed assets | 22/27 | €34,545 | €48,638 | +€14,093 | +40.8% |
| Plant, machinery and equipment | 23 | €1,142 | €4,167 | +€3,025 | +265% |
| Furniture and vehicles | 24 | - | €6,393 | +€6,393 | |
| Other tangible fixed assets | 26 | €33,403 | €38,079 | +€4,675 | +14.0% |
| Current assets | 29/58 | €66,103 | €130,958 | +€64,856 | +98.1% |
| Stocks and contracts in progress | 3 | €53,446 | €72,914 | +€19,468 | +36.4% |
| Stocks | 30/36 | €53,446 | €72,914 | +€19,468 | +36.4% |
| Amounts receivable within one year | 40/41 | €3,262 | €15,253 | +€11,990 | +368% |
| Trade receivables | 40 | €2,907 | €14,680 | +€11,773 | +405% |
| Other amounts receivable | 41 | €355 | €573 | +€217 | +61.2% |
| Cash at bank and in hand | 54/58 | €9,140 | €42,163 | +€33,022 | +361% |
| Deferred charges and accrued income | 490/1 | €254 | €629 | +€375 | +148% |
| Total equity and liabilities | 10/49 | €120,356 | €208,775 | +€88,419 | +73.5% |
| Equity | 10/15 | €33,854 | €31,459 | -€2,395 | -7.1% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €13,500 | €13,500 | = | 0.0% |
| Distributable reserves | 133 | €13,500 | €13,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €354 | -€2,041 | -€2,395 | |
| Amounts payable | 17/49 | €86,502 | €177,316 | +€90,814 | +105% |
| Amounts payable after more than one year | 17 | €17,494 | €10,526 | -€6,967 | -39.8% |
| Financial debts | 170/4 | €17,494 | €10,526 | -€6,967 | -39.8% |
| Amounts payable within one year | 42/48 | €68,465 | €166,246 | +€97,781 | +143% |
| Current portion of amounts payable after more than one year | 42 | €6,583 | €6,967 | +€384 | +5.8% |
| Financial debts | 43 | - | €25,000 | +€25,000 | |
| Credit institutions | 430/8 | - | €25,000 | +€25,000 | |
| Trade debts | 44 | €7,900 | €51,893 | +€43,994 | +557% |
| Suppliers | 440/4 | €7,900 | €51,893 | +€43,994 | +557% |
| Advances received on contracts in progress | 46 | - | €880 | +€880 | |
| Taxes, remuneration and social security | 45 | €5,345 | €17,942 | +€12,598 | +236% |
| Taxes | 450/3 | €1,346 | €13,441 | +€12,095 | +899% |
| Remuneration and social security | 454/9 | €3,999 | €4,502 | +€503 | +12.6% |
| Other amounts payable | 47/48 | €48,637 | €63,563 | +€14,926 | +30.7% |
| Accrued charges and deferred income | 492/3 | €544 | €544 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €39,593 | €40,630 | +€1,037 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,899 | €10,428 | +€5,529 | +113% |
| Other operating charges | 640/8 | €1,526 | €1,067 | -€459 | -30.1% |
| Gross operating margin | 9900 | €82,075 | €57,175 | -€24,900 | -30.3% |
| Operating profit (loss) | 9901 | €36,057 | €5,050 | -€31,008 | -86.0% |
| Financial income | 75/76B | €38 | €19 | -€19 | -49.6% |
| Recurring financial income | 75 | €38 | €19 | -€19 | -49.6% |
| Financial charges | 65/66B | €3,829 | €7,315 | +€3,485 | +91.0% |
| Recurring financial charges | 65 | €3,829 | €7,315 | +€3,485 | +91.0% |
| Profit (loss) for the period before taxes | 9903 | €32,266 | -€2,246 | -€34,512 | |
| Income taxes | 67/77 | €1,350 | €149 | -€1,201 | -88.9% |
| Profit (loss) for the period | 9904 | €30,916 | -€2,395 | -€33,311 | |
| Profit (loss) for the period to be appropriated | 9905 | €30,916 | -€2,395 | -€33,311 |
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.