LFA: 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.
LFA
Largest movements
- Cash +€41,254
up €41,254 (+52.9%), from €78,026 to €119,280
mainly Other debts (+€55,350) and Net result for the year (+€49,884)
- Intangible fixed assets -€20,496
down €20,496 (-89.8%), from €22,833 to €2,337
- Receivables within one year +€18,582
up €18,582 (+78.3%), from €23,722 to €42,304
of which Trade receivables: +€16,258
- Deferred charges and accrued income -€7,616
down €7,616 (-26.6%), from €28,661 to €21,045
- Tangible fixed assets +€2,947
up €2,947 (+251.0%), from €1,174 to €4,121
of which Furniture and vehicles: +€2,371
- Other debts +€55,350
up €55,350 (+58.8%), from €94,178 to €149,528
- Reserves -€11,580
down €11,580 (-53.7%), from €21,580 to €10,000
- Debts after one year -€7,514
no longer reported in 2025 (was €7,514)
- Tax, wage and social debts +€3,398
up €3,398 (+94.8%), from €3,583 to €6,982
- Trade debts -€2,103
down €2,103 (-36.3%), from €5,798 to €3,695
- Gross operating margin +€56,231
up €56,231 (+161.1%), from €34,899 to €91,130
- Taxes +€9,361
up €9,361 (+531.2%), from €1,762 to €11,123
- Depreciation -€5,650
down €5,650 (-17.7%), from €31,960 to €26,310
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 | €154,415 | €189,086 | +€34,671 | +22.5% |
| Fixed assets | 21/28 | €24,007 | €6,458 | -€17,549 | -73.1% |
| Intangible fixed assets | 21 | €22,833 | €2,337 | -€20,496 | -89.8% |
| Tangible fixed assets | 22/27 | €1,174 | €4,121 | +€2,947 | +251.0% |
| Furniture and vehicles | 24 | €613 | €2,984 | +€2,371 | +386.7% |
| Other tangible fixed assets | 26 | €561 | €1,137 | +€576 | +102.7% |
| Current assets | 29/58 | €130,408 | €182,628 | +€52,220 | +40.0% |
| Amounts receivable within one year | 40/41 | €23,722 | €42,304 | +€18,582 | +78.3% |
| Trade receivables | 40 | €11,431 | €27,689 | +€16,258 | +142.2% |
| Other amounts receivable | 41 | €12,291 | €14,615 | +€2,324 | +18.9% |
| Cash at bank and in hand | 54/58 | €78,026 | €119,280 | +€41,254 | +52.9% |
| Deferred charges and accrued income | 490/1 | €28,661 | €21,045 | -€7,616 | -26.6% |
| Total equity and liabilities | 10/49 | €154,415 | €189,086 | +€34,671 | +22.5% |
| Equity | 10/15 | €31,580 | €20,000 | -€11,580 | -36.7% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €21,580 | €10,000 | -€11,580 | -53.7% |
| Distributable reserves | 133 | €21,580 | €10,000 | -€11,580 | -53.7% |
| Amounts payable | 17/49 | €122,835 | €169,086 | +€46,251 | +37.7% |
| Amounts payable after more than one year | 17 | €7,514 | - | -€7,514 | |
| Financial debts | 170/4 | €7,514 | - | -€7,514 | |
| Amounts payable within one year | 42/48 | €115,321 | €169,086 | +€53,765 | +46.6% |
| Current portion of amounts payable after more than one year | 42 | €8,881 | €7,514 | -€1,367 | -15.4% |
| Trade debts | 44 | €5,798 | €3,695 | -€2,103 | -36.3% |
| Suppliers | 440/4 | €5,798 | €3,695 | -€2,103 | -36.3% |
| Advances received on contracts in progress | 46 | €2,881 | €1,367 | -€1,514 | -52.6% |
| Taxes, remuneration and social security | 45 | €3,583 | €6,982 | +€3,398 | +94.8% |
| Taxes | 450/3 | €3,583 | €6,982 | +€3,398 | +94.8% |
| Other amounts payable | 47/48 | €94,178 | €149,528 | +€55,350 | +58.8% |
| Remuneration, social security and pensions | 62 | €1,440 | €2,160 | +€720 | +50.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €31,960 | €26,310 | -€5,650 | -17.7% |
| Other operating charges | 640/8 | €882 | €327 | -€555 | -62.9% |
| Gross operating margin | 9900 | €34,899 | €91,130 | +€56,231 | +161.1% |
| Operating profit (loss) | 9901 | €617 | €62,333 | +€61,716 | +9994.9% |
| Financial income | 75/76B | €220 | €11 | -€208 | -94.8% |
| Recurring financial income | 75 | €220 | €11 | -€208 | -94.8% |
| Financial charges | 65/66B | €563 | €1,337 | +€774 | +137.5% |
| Recurring financial charges | 65 | €563 | €1,337 | +€774 | +137.5% |
| Profit (loss) for the period before taxes | 9903 | €274 | €61,007 | +€60,733 | +22161.3% |
| Income taxes | 67/77 | €1,762 | €11,123 | +€9,361 | +531.2% |
| Profit (loss) for the period | 9904 | -€1,488 | €49,884 | +€51,372 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,488 | €49,884 | +€51,372 |
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.