LGD GROUP: 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.
LGD GROUP
Largest movements
- Tangible fixed assets +€30,682
up €30,682 (+1,088%), from €2,820 to €33,502
- Stocks and contracts -€7,774
no longer reported in 2025 (was €7,774)
- Cash -€6,341
down €6,341 (-39.9%), from €15,911 to €9,570
mainly Investment in fixed assets (net) (-€37,016) and Advances received (-€12,600)
- Receivables within one year +€4,121
up €4,121 (+10.0%), from €41,215 to €45,335
- Trade debts +€36,708
up €36,708 (+189%), from €19,460 to €56,168
- Advances received -€12,600
no longer reported in 2025 (was €12,600)
- Other debts -€10,978
down €10,978 (-91.1%), from €12,044 to €1,066
- Profit (loss) carried forward +€9,056
up €9,056 (+63.8%), from €14,192 to €23,248
- Tax, wage and social debts -€1,498
down €1,498 (-20.2%), from €7,424 to €5,926
- Gross operating margin +€15,418
up €15,418 (+452%), from €3,412 to €18,831
- Depreciation +€4,161
up €4,161 (+192%), from €2,173 to €6,334
- Taxes +€2,944
new in 2025: €2,944
- Other operating charges -€863
down €863 (-68.3%), from €1,263 to €400
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 | €67,720 | €88,408 | +€20,687 | +30.5% |
| Fixed assets | 21/28 | €2,820 | €33,502 | +€30,682 | +1,088% |
| Tangible fixed assets | 22/27 | €2,820 | €33,502 | +€30,682 | +1,088% |
| Furniture and vehicles | 24 | €2,820 | €33,502 | +€30,682 | +1,088% |
| Current assets | 29/58 | €64,900 | €54,906 | -€9,995 | -15.4% |
| Stocks and contracts in progress | 3 | €7,774 | - | -€7,774 | |
| Stocks | 30/36 | €7,774 | - | -€7,774 | |
| Amounts receivable within one year | 40/41 | €41,215 | €45,335 | +€4,121 | +10.0% |
| Trade receivables | 40 | €41,215 | €45,335 | +€4,121 | +10.0% |
| Cash at bank and in hand | 54/58 | €15,911 | €9,570 | -€6,341 | -39.9% |
| Total equity and liabilities | 10/49 | €67,720 | €88,408 | +€20,687 | +30.5% |
| Equity | 10/15 | €16,192 | €25,248 | +€9,056 | +55.9% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €14,192 | €23,248 | +€9,056 | +63.8% |
| Amounts payable | 17/49 | €51,528 | €63,159 | +€11,631 | +22.6% |
| Amounts payable within one year | 42/48 | €51,528 | €63,159 | +€11,631 | +22.6% |
| Trade debts | 44 | €19,460 | €56,168 | +€36,708 | +189% |
| Suppliers | 440/4 | €19,460 | €56,168 | +€36,708 | +189% |
| Advances received on contracts in progress | 46 | €12,600 | - | -€12,600 | |
| Taxes, remuneration and social security | 45 | €7,424 | €5,926 | -€1,498 | -20.2% |
| Taxes | 450/3 | €7,424 | €5,926 | -€1,498 | -20.2% |
| Other amounts payable | 47/48 | €12,044 | €1,066 | -€10,978 | -91.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,173 | €6,334 | +€4,161 | +192% |
| Other operating charges | 640/8 | €1,263 | €400 | -€863 | -68.3% |
| Non-recurring operating charges | 66A | €5,112 | - | -€5,112 | |
| Gross operating margin | 9900 | €3,412 | €18,831 | +€15,418 | +452% |
| Operating profit (loss) | 9901 | -€5,134 | €12,097 | +€17,232 | |
| Financial income | 75/76B | €18 | €2 | -€16 | -89.3% |
| Recurring financial income | 75 | €18 | €2 | -€16 | -89.3% |
| Financial charges | 65/66B | €87 | €100 | +€13 | +15.0% |
| Recurring financial charges | 65 | €87 | €100 | +€13 | +15.0% |
| Profit (loss) for the period before taxes | 9903 | -€5,203 | €12,000 | +€17,203 | |
| Income taxes | 67/77 | - | €2,944 | +€2,944 | |
| Profit (loss) for the period | 9904 | -€5,203 | €9,056 | +€14,259 | |
| Profit (loss) for the period to be appropriated | 9905 | -€5,203 | €9,056 | +€14,259 |
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 28 October 2026 via checked.be.