LGS Projects: 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.
LGS Projects
Largest movements
- Stocks and contracts -€1.5m
down €1.5m (-39.8%), from €3.8m to €2.3m
- Cash +€430,398
up €430,398 (+1,475%), from €29,182 to €459,580
mainly Stocks and contracts (+€1.5m) and Net result for the year (+€405,456)
- Other debts -€856,466
down €856,466 (-44.5%), from €1.9m to €1.1m
- Current portion of long-term debt -€636,843
down €636,843 (-63.1%), from €1.0m to €372,157
- Profit (loss) carried forward +€405,456
up €405,456 (+72.4%), from €560,150 to €965,606
- Tax, wage and social debts +€67,500
new in 2025: €67,500
- Gross operating margin +€627,562
up €627,562, from -€2,959 to €624,602
- Taxes +€67,500
new in 2025: €67,500
- Other operating charges +€37,539
up €37,539 (+74.3%), from €50,506 to €88,045
- Financial charges -€24,924
down €24,924 (-28.2%), from €88,525 to €63,601
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 | €3,847,246 | €2,772,997 | -€1.1m | -27.9% |
| Fixed assets | 21/28 | €518 | €518 | = | 0.0% |
| Financial fixed assets | 28 | €518 | €518 | = | 0.0% |
| Current assets | 29/58 | €3,846,729 | €2,772,479 | -€1.1m | -27.9% |
| Stocks and contracts in progress | 3 | €3,806,390 | €2,290,686 | -€1.5m | -39.8% |
| Stocks | 30/36 | €3,806,390 | €2,290,686 | -€1.5m | -39.8% |
| Amounts receivable within one year | 40/41 | €11,157 | €22,214 | +€11,057 | +99.1% |
| Other amounts receivable | 41 | €11,157 | €22,214 | +€11,057 | +99.1% |
| Cash at bank and in hand | 54/58 | €29,182 | €459,580 | +€430,398 | +1,475% |
| Total equity and liabilities | 10/49 | €3,847,246 | €2,772,997 | -€1.1m | -27.9% |
| Equity | 10/15 | €860,150 | €1,265,606 | +€405,456 | +47.1% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €560,150 | €965,606 | +€405,456 | +72.4% |
| Amounts payable | 17/49 | €2,987,096 | €1,507,391 | -€1.5m | -49.5% |
| Amounts payable within one year | 42/48 | €2,987,096 | €1,507,391 | -€1.5m | -49.5% |
| Current portion of amounts payable after more than one year | 42 | €1,009,000 | €372,157 | -€636,843 | -63.1% |
| Trade debts | 44 | €33,840 | - | -€33,840 | |
| Suppliers | 440/4 | €33,840 | - | -€33,840 | |
| Advances received on contracts in progress | 46 | €20,056 | - | -€20,056 | |
| Taxes, remuneration and social security | 45 | - | €67,500 | +€67,500 | |
| Taxes | 450/3 | - | €67,500 | +€67,500 | |
| Other amounts payable | 47/48 | €1,924,200 | €1,067,734 | -€856,466 | -44.5% |
| Other operating charges | 640/8 | €50,506 | €88,045 | +€37,539 | +74.3% |
| Gross operating margin | 9900 | -€2,959 | €624,602 | +€627,562 | |
| Operating profit (loss) | 9901 | -€53,466 | €536,557 | +€590,023 | |
| Financial charges | 65/66B | €88,525 | €63,601 | -€24,924 | -28.2% |
| Recurring financial charges | 65 | €88,525 | €63,601 | -€24,924 | -28.2% |
| Profit (loss) for the period before taxes | 9903 | -€141,991 | €472,956 | +€614,947 | |
| Income taxes | 67/77 | - | €67,500 | +€67,500 | |
| Profit (loss) for the period | 9904 | -€141,991 | €405,456 | +€547,447 | |
| Profit (loss) for the period to be appropriated | 9905 | -€141,991 | €405,456 | +€547,447 |
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 19 October 2026 via checked.be.