LF Management: 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 Management
Largest movements
- Cash -€40,910
down €40,910 (-48.0%), from €85,175 to €44,265
mainly Debts after one year (-€45,904) and Receivables within one year (-€21,446)
- Receivables within one year +€21,446
up €21,446 (+7898.9%), from €272 to €21,717
of which Trade receivables: +€19,729
- Current investments +€5,040
new in 2025: €5,040
- Debts after one year -€45,904
down €45,904 (-18.4%), from €250,132 to €204,227
- Profit (loss) carried forward +€19,204
up €19,204 (+16.7%), from €115,076 to €134,280
- Tax, wage and social debts +€10,505
up €10,505 (+97.7%), from €10,748 to €21,253
- Gross operating margin -€4,847
down €4,847 (-10.5%), from €46,211 to €41,364
- Taxes +€2,825
up €2,825 (+36.2%), from €7,811 to €10,636
- Financial charges -€1,082
down €1,082 (-9.8%), from €11,024 to €9,942
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 | €421,270 | €406,021 | -€15,249 | -3.6% |
| Fixed assets | 21/28 | €335,824 | €334,999 | -€824 | -0.2% |
| Tangible fixed assets | 22/27 | €1,887 | €1,063 | -€824 | -43.7% |
| Furniture and vehicles | 24 | €1,887 | €1,063 | -€824 | -43.7% |
| Financial fixed assets | 28 | €333,936 | €333,936 | = | 0.0% |
| Current assets | 29/58 | €85,446 | €71,022 | -€14,425 | -16.9% |
| Amounts receivable within one year | 40/41 | €272 | €21,717 | +€21,446 | +7898.9% |
| Trade receivables | 40 | €272 | €20,000 | +€19,729 | +7266.5% |
| Other amounts receivable | 41 | - | €1,717 | +€1,717 | |
| Current investments | 50/53 | - | €5,040 | +€5,040 | |
| Cash at bank and in hand | 54/58 | €85,175 | €44,265 | -€40,910 | -48.0% |
| Total equity and liabilities | 10/49 | €421,270 | €406,021 | -€15,249 | -3.6% |
| Equity | 10/15 | €115,077 | €134,281 | +€19,204 | +16.7% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Profit (loss) carried forward | 14 | €115,076 | €134,280 | +€19,204 | +16.7% |
| Amounts payable | 17/49 | €306,193 | €271,740 | -€34,453 | -11.3% |
| Amounts payable after more than one year | 17 | €250,132 | €204,227 | -€45,904 | -18.4% |
| Financial debts | 170/4 | €250,132 | €204,227 | -€45,904 | -18.4% |
| Amounts payable within one year | 42/48 | €56,061 | €67,513 | +€11,451 | +20.4% |
| Financial debts | 43 | €44,394 | €45,904 | +€1,510 | +3.4% |
| Credit institutions | 430/8 | €44,394 | €45,904 | +€1,510 | +3.4% |
| Trade debts | 44 | €224 | €355 | +€130 | +58.1% |
| Suppliers | 440/4 | €224 | €355 | +€130 | +58.1% |
| Taxes, remuneration and social security | 45 | €10,748 | €21,253 | +€10,505 | +97.7% |
| Taxes | 450/3 | €10,748 | €21,253 | +€10,505 | +97.7% |
| Other amounts payable | 47/48 | €694 | - | -€694 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €801 | €824 | +€23 | +2.9% |
| Other operating charges | 640/8 | €791 | €757 | -€34 | -4.3% |
| Gross operating margin | 9900 | €46,211 | €41,364 | -€4,847 | -10.5% |
| Operating profit (loss) | 9901 | €44,619 | €39,782 | -€4,836 | -10.8% |
| Financial income | 75/76B | €24 | - | -€24 | |
| Recurring financial income | 75 | €24 | - | -€24 | |
| Financial charges | 65/66B | €11,024 | €9,942 | -€1,082 | -9.8% |
| Recurring financial charges | 65 | €11,024 | €9,942 | -€1,082 | -9.8% |
| Profit (loss) for the period before taxes | 9903 | €33,619 | €29,840 | -€3,778 | -11.2% |
| Income taxes | 67/77 | €7,811 | €10,636 | +€2,825 | +36.2% |
| Profit (loss) for the period | 9904 | €25,807 | €19,204 | -€6,603 | -25.6% |
| Profit (loss) for the period to be appropriated | 9905 | €25,807 | €19,204 | -€6,603 | -25.6% |
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 11 October 2026 via checked.be.