LFD: 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.
LFD
Largest movements
- Receivables within one year +€8,002
up €8,002 (+79.7%), from €10,034 to €18,036
of which Other amounts receivable: +€6,489
- Tangible fixed assets +€4,247
up €4,247 (+23.2%), from €18,307 to €22,554
of which Furniture and vehicles: +€5,212
- Cash -€1,901
down €1,901 (-11.3%), from €16,811 to €14,910
mainly Investment in fixed assets (net) (-€14,634) and Receivables within one year (-€8,002)
- Reserves +€26,142
up €26,142 (+1405.5%), from €1,860 to €28,002
- Profit (loss) carried forward -€17,789
down €17,789 (-100.0%), from €17,789 to €0
- Tax, wage and social debts +€1,608
up €1,608 (+62.4%), from €2,577 to €4,185
- Trade debts +€1,370
up €1,370 (+35.8%), from €3,828 to €5,198
- Other debts -€980
down €980 (-100.0%), from €980 to €0
- Gross operating margin +€27,595
up €27,595, from -€950 to €26,645
- Taxes +€19,856
up €19,856, from -€13,903 to €5,953
- Depreciation +€4,672
up €4,672 (+81.8%), from €5,715 to €10,387
- Financial charges +€1,080
up €1,080 (+593.6%), from €182 to €1,262
of which Non-recurring financial charges: +€1,095
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 | €45,634 | €55,986 | +€10,352 | +22.7% |
| Fixed assets | 21/28 | €18,707 | €22,954 | +€4,247 | +22.7% |
| Tangible fixed assets | 22/27 | €18,307 | €22,554 | +€4,247 | +23.2% |
| Plant, machinery and equipment | 23 | €727 | €242 | -€485 | -66.7% |
| Furniture and vehicles | 24 | €14,882 | €20,094 | +€5,212 | +35.0% |
| Other tangible fixed assets | 26 | €2,698 | €2,218 | -€480 | -17.8% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €26,927 | €33,032 | +€6,105 | +22.7% |
| Amounts receivable within one year | 40/41 | €10,034 | €18,036 | +€8,002 | +79.7% |
| Trade receivables | 40 | €10,034 | €11,547 | +€1,513 | +15.1% |
| Other amounts receivable | 41 | - | €6,489 | +€6,489 | |
| Cash at bank and in hand | 54/58 | €16,811 | €14,910 | -€1,901 | -11.3% |
| Deferred charges and accrued income | 490/1 | €82 | €86 | +€4 | +5.0% |
| Total equity and liabilities | 10/49 | €45,634 | €55,986 | +€10,352 | +22.7% |
| Equity | 10/15 | €38,249 | €46,602 | +€8,353 | +21.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €28,002 | +€26,142 | +1405.5% |
| Distributable reserves | 133 | €1,860 | €28,002 | +€26,142 | +1405.5% |
| Profit (loss) carried forward | 14 | €17,789 | €0 | -€17,789 | -100.0% |
| Amounts payable | 17/49 | €7,385 | €9,383 | +€1,998 | +27.1% |
| Amounts payable within one year | 42/48 | €7,385 | €9,383 | +€1,998 | +27.1% |
| Trade debts | 44 | €3,828 | €5,198 | +€1,370 | +35.8% |
| Suppliers | 440/4 | €3,828 | €5,198 | +€1,370 | +35.8% |
| Taxes, remuneration and social security | 45 | €2,577 | €4,185 | +€1,608 | +62.4% |
| Taxes | 450/3 | €2,577 | €4,185 | +€1,608 | +62.4% |
| Other amounts payable | 47/48 | €980 | €0 | -€980 | -100.0% |
| Remuneration, social security and pensions | 62 | - | €0 | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,715 | €10,387 | +€4,672 | +81.8% |
| Other operating charges | 640/8 | €1,039 | €776 | -€263 | -25.4% |
| Gross operating margin | 9900 | -€950 | €26,645 | +€27,595 | |
| Operating profit (loss) | 9901 | -€7,704 | €15,483 | +€23,187 | |
| Financial income | 75/76B | - | €87 | +€87 | |
| Recurring financial income | 75 | - | €87 | +€87 | |
| Financial charges | 65/66B | €182 | €1,262 | +€1,080 | +593.6% |
| Recurring financial charges | 65 | €182 | €167 | -€15 | -8.0% |
| Non-recurring financial charges | 66B | - | €1,095 | +€1,095 | |
| Profit (loss) for the period before taxes | 9903 | -€7,886 | €14,307 | +€22,193 | |
| Income taxes | 67/77 | -€13,903 | €5,953 | +€19,856 | |
| Profit (loss) for the period | 9904 | €6,017 | €8,354 | +€2,337 | +38.8% |
| Profit (loss) for the period to be appropriated | 9905 | €6,017 | €8,354 | +€2,337 | +38.8% |
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 28 September 2026 via checked.be.