LGDF BRUSSELS: 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.
LGDF BRUSSELS
Largest movements
- Tangible fixed assets -€16,455
down €16,455 (-10.0%), from €165,002 to €148,547
of which Other tangible fixed assets: -€10,985
- Cash -€6,901
down €6,901 (-64.4%), from €10,711 to €3,810
mainly Net result for the year (-€52,657) and Debts after one year (-€16,398)
- Other debts +€57,000
up €57,000 (+89.6%), from €63,581 to €120,581
- Profit (loss) carried forward -€52,657
down €52,657 (-377%), from -€13,977 to -€66,634
- Debts after one year -€16,398
down €16,398 (-25.5%), from €64,380 to €47,982
- Trade debts -€10,590
down €10,590 (-30.5%), from €34,751 to €24,161
- Gross operating margin -€23,279
down €23,279 (-47,239%), from -€49 to -€23,329
- Depreciation +€12,397
up €12,397 (+126%), from €9,866 to €22,263
- Other operating charges +€1,874
up €1,874 (+1,433%), from €131 to €2,004
- Financial charges +€1,130
up €1,130 (+28.7%), from €3,931 to €5,061
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 | €182,928 | €161,088 | -€21,840 | -11.9% |
| Formation expenses | 20 | €185 | - | -€185 | |
| Fixed assets | 21/28 | €165,002 | €148,547 | -€16,455 | -10.0% |
| Tangible fixed assets | 22/27 | €165,002 | €148,547 | -€16,455 | -10.0% |
| Plant, machinery and equipment | 23 | €15,122 | €9,652 | -€5,470 | -36.2% |
| Other tangible fixed assets | 26 | €149,880 | €138,895 | -€10,985 | -7.3% |
| Current assets | 29/58 | €17,742 | €12,541 | -€5,201 | -29.3% |
| Amounts receivable within one year | 40/41 | €7,031 | €7,994 | +€963 | +13.7% |
| Trade receivables | 40 | €1,451 | €547 | -€903 | -62.3% |
| Other amounts receivable | 41 | €5,581 | €7,447 | +€1,866 | +33.4% |
| Cash at bank and in hand | 54/58 | €10,711 | €3,810 | -€6,901 | -64.4% |
| Deferred charges and accrued income | 490/1 | - | €737 | +€737 | |
| Total equity and liabilities | 10/49 | €182,928 | €161,088 | -€21,840 | -11.9% |
| Equity | 10/15 | €4,623 | -€48,034 | -€52,657 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€13,977 | -€66,634 | -€52,657 | -377% |
| Amounts payable | 17/49 | €178,306 | €209,122 | +€30,816 | +17.3% |
| Amounts payable after more than one year | 17 | €64,380 | €47,982 | -€16,398 | -25.5% |
| Financial debts | 170/4 | €64,380 | €47,982 | -€16,398 | -25.5% |
| Amounts payable within one year | 42/48 | €113,926 | €161,140 | +€47,214 | +41.4% |
| Current portion of amounts payable after more than one year | 42 | €15,594 | €16,398 | +€804 | +5.2% |
| Trade debts | 44 | €34,751 | €24,161 | -€10,590 | -30.5% |
| Suppliers | 440/4 | €34,751 | €24,161 | -€10,590 | -30.5% |
| Other amounts payable | 47/48 | €63,581 | €120,581 | +€57,000 | +89.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,866 | €22,263 | +€12,397 | +126% |
| Other operating charges | 640/8 | €131 | €2,004 | +€1,874 | +1,433% |
| Gross operating margin | 9900 | -€49 | -€23,329 | -€23,279 | -47,239% |
| Operating profit (loss) | 9901 | -€10,046 | -€47,596 | -€37,550 | -374% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €3,931 | €5,061 | +€1,130 | +28.7% |
| Recurring financial charges | 65 | €3,931 | €5,061 | +€1,130 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | -€13,977 | -€52,657 | -€38,680 | -277% |
| Profit (loss) for the period | 9904 | -€13,977 | -€52,657 | -€38,680 | -277% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,977 | -€52,657 | -€38,680 | -277% |
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 25 October 2026 via checked.be.