LGS Construct: 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.
LGS Construct
Largest movements
- Receivables within one year -€17,507
down €17,507 (-65.2%), from €26,836 to €9,329
- Tangible fixed assets -€8,029
down €8,029 (-60.9%), from €13,189 to €5,159
- Deferred charges and accrued income -€4,000
no longer reported in 2025 (was €4,000)
- Cash +€674
up €674 (+25.4%), from €2,654 to €3,328
mainly Debts after one year (+€21,776) and Receivables within one year (+€17,507)
- Tax, wage and social debts -€23,902
down €23,902 (-79.6%), from €30,025 to €6,123
- Debts after one year +€21,776
new in 2025: €21,776
- Trade debts -€21,446
down €21,446 (-88.0%), from €24,371 to €2,926
- Other debts -€17,490
down €17,490 (-98.3%), from €17,793 to €303
- Profit (loss) carried forward +€11,375
up €11,375 (+26.6%), from -€42,716 to -€31,341
- Depreciation -€4,920
down €4,920 (-38.0%), from €12,949 to €8,029
- Gross operating margin -€3,264
down €3,264 (-9.2%), from €35,567 to €32,303
- Financial charges +€676
up €676 (+43.3%), from €1,562 to €2,238
- Other operating charges -€600
down €600 (-32.7%), from €1,836 to €1,236
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 | €46,679 | €17,816 | -€28,863 | -61.8% |
| Fixed assets | 21/28 | €13,189 | €5,159 | -€8,029 | -60.9% |
| Tangible fixed assets | 22/27 | €13,189 | €5,159 | -€8,029 | -60.9% |
| Plant, machinery and equipment | 23 | €13,189 | €5,159 | -€8,029 | -60.9% |
| Current assets | 29/58 | €33,490 | €12,657 | -€20,833 | -62.2% |
| Amounts receivable within one year | 40/41 | €26,836 | €9,329 | -€17,507 | -65.2% |
| Trade receivables | 40 | €26,836 | €9,329 | -€17,507 | -65.2% |
| Cash at bank and in hand | 54/58 | €2,654 | €3,328 | +€674 | +25.4% |
| Deferred charges and accrued income | 490/1 | €4,000 | - | -€4,000 | |
| Total equity and liabilities | 10/49 | €46,679 | €17,816 | -€28,863 | -61.8% |
| Equity | 10/15 | -€34,656 | -€23,281 | +€11,375 | +32.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€42,716 | -€31,341 | +€11,375 | +26.6% |
| Amounts payable | 17/49 | €81,335 | €41,097 | -€40,238 | -49.5% |
| Amounts payable after more than one year | 17 | - | €21,776 | +€21,776 | |
| Financial debts | 170/4 | - | €21,776 | +€21,776 | |
| Amounts payable within one year | 42/48 | €81,335 | €19,321 | -€62,013 | -76.2% |
| Current portion of amounts payable after more than one year | 42 | €4,029 | €5,062 | +€1,033 | +25.6% |
| Financial debts | 43 | €5,116 | €4,907 | -€209 | -4.1% |
| Credit institutions | 430/8 | €5,116 | €4,907 | -€209 | -4.1% |
| Trade debts | 44 | €24,371 | €2,926 | -€21,446 | -88.0% |
| Suppliers | 440/4 | €24,371 | €2,926 | -€21,446 | -88.0% |
| Taxes, remuneration and social security | 45 | €30,025 | €6,123 | -€23,902 | -79.6% |
| Taxes | 450/3 | €30,025 | €6,123 | -€23,902 | -79.6% |
| Other amounts payable | 47/48 | €17,793 | €303 | -€17,490 | -98.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,949 | €8,029 | -€4,920 | -38.0% |
| Other operating charges | 640/8 | €1,836 | €1,236 | -€600 | -32.7% |
| Non-recurring operating charges | 66A | - | €9,425 | +€9,425 | |
| Gross operating margin | 9900 | €35,567 | €32,303 | -€3,264 | -9.2% |
| Operating profit (loss) | 9901 | €20,782 | €13,612 | -€7,170 | -34.5% |
| Financial income | 75/76B | €52 | €0 | -€51 | -99.3% |
| Recurring financial income | 75 | €52 | €0 | -€51 | -99.3% |
| Financial charges | 65/66B | €1,562 | €2,238 | +€676 | +43.3% |
| Recurring financial charges | 65 | €1,562 | €2,238 | +€676 | +43.3% |
| Profit (loss) for the period before taxes | 9903 | €19,272 | €11,375 | -€7,897 | -41.0% |
| Profit (loss) for the period | 9904 | €19,272 | €11,375 | -€7,897 | -41.0% |
| Profit (loss) for the period to be appropriated | 9905 | €19,272 | €11,375 | -€7,897 | -41.0% |
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 8 October 2026 via checked.be.