LGW CONSULT: 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.
LGW CONSULT
Largest movements
- Tangible fixed assets -€33,466
down €33,466 (-4.2%), from €792,128 to €758,662
of which Land and buildings: -€31,719
- Debts after one year -€34,050
down €34,050 (-7.9%), from €429,698 to €395,648
- Reserves +€18,120
up €18,120 (+7.2%), from €250,543 to €268,663
of which Distributable reserves: +€19,980
- Trade debts -€10,331
no longer reported in 2025 (was €10,331)
- Gross operating margin -€22,232
down €22,232 (-13.9%), from €160,093 to €137,861
- Staff costs -€9,994
down €9,994 (-15.1%), from €66,256 to €56,262
- Taxes -€3,546
down €3,546 (-28.8%), from €12,294 to €8,748
- Financial charges +€3,510
up €3,510 (+28.7%), from €12,247 to €15,757
of which Non-recurring financial charges: +€5,850
- Depreciation -€3,211
down €3,211 (-8.7%), from €36,970 to €33,759
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 | €931,383 | €890,936 | -€40,447 | -4.3% |
| Fixed assets | 21/28 | €792,528 | €759,062 | -€33,466 | -4.2% |
| Tangible fixed assets | 22/27 | €792,128 | €758,662 | -€33,466 | -4.2% |
| Land and buildings | 22 | €788,432 | €756,712 | -€31,719 | -4.0% |
| Plant, machinery and equipment | 23 | €3,213 | €1,880 | -€1,334 | -41.5% |
| Furniture and vehicles | 24 | €483 | €70 | -€413 | -85.5% |
| Financial fixed assets | 28 | €400 | €400 | = | 0.0% |
| Current assets | 29/58 | €138,855 | €131,874 | -€6,981 | -5.0% |
| Amounts receivable within one year | 40/41 | €42,872 | €48,492 | +€5,619 | +13.1% |
| Trade receivables | 40 | €16,037 | €16,991 | +€954 | +5.9% |
| Other amounts receivable | 41 | €26,835 | €31,501 | +€4,665 | +17.4% |
| Cash at bank and in hand | 54/58 | €54,071 | €46,197 | -€7,874 | -14.6% |
| Deferred charges and accrued income | 490/1 | €41,912 | €37,186 | -€4,726 | -11.3% |
| Total equity and liabilities | 10/49 | €931,383 | €890,936 | -€40,447 | -4.3% |
| Equity | 10/15 | €403,724 | €421,844 | +€18,120 | +4.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Contributions outside capital | 11 | €6,200 | €6,200 | = | 0.0% |
| Other | 1109/19 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €250,543 | €268,663 | +€18,120 | +7.2% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Tax-exempt reserves | 132 | €18,750 | €18,750 | = | 0.0% |
| Distributable reserves | 133 | €229,933 | €249,913 | +€19,980 | +8.7% |
| Profit (loss) carried forward | 14 | €146,981 | €146,981 | = | 0.0% |
| Provisions and deferred taxes | 16 | €15,000 | €15,000 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €15,000 | €15,000 | = | 0.0% |
| Pensions and similar obligations | 160 | €15,000 | €15,000 | = | 0.0% |
| Amounts payable | 17/49 | €512,659 | €454,092 | -€58,567 | -11.4% |
| Amounts payable after more than one year | 17 | €429,698 | €395,648 | -€34,050 | -7.9% |
| Financial debts | 170/4 | €429,698 | €395,648 | -€34,050 | -7.9% |
| Amounts payable within one year | 42/48 | €81,658 | €57,695 | -€23,963 | -29.3% |
| Current portion of amounts payable after more than one year | 42 | €42,224 | €35,325 | -€6,898 | -16.3% |
| Trade debts | 44 | €10,331 | - | -€10,331 | |
| Suppliers | 440/4 | €10,331 | - | -€10,331 | |
| Taxes, remuneration and social security | 45 | €29,103 | €22,370 | -€6,733 | -23.1% |
| Taxes | 450/3 | €15,927 | €17,091 | +€1,164 | +7.3% |
| Remuneration and social security | 454/9 | €13,176 | €5,279 | -€7,897 | -59.9% |
| Accrued charges and deferred income | 492/3 | €1,304 | €749 | -€555 | -42.6% |
| Remuneration, social security and pensions | 62 | €66,256 | €56,262 | -€9,994 | -15.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,970 | €33,759 | -€3,211 | -8.7% |
| Other operating charges | 640/8 | €4,756 | €5,401 | +€645 | +13.6% |
| Gross operating margin | 9900 | €160,093 | €137,861 | -€22,232 | -13.9% |
| Operating profit (loss) | 9901 | €52,111 | €42,439 | -€9,672 | -18.6% |
| Financial income | 75/76B | - | €186 | +€186 | |
| Recurring financial income | 75 | - | €186 | +€186 | |
| Financial charges | 65/66B | €12,247 | €15,757 | +€3,510 | +28.7% |
| Recurring financial charges | 65 | €12,247 | €9,907 | -€2,340 | -19.1% |
| Non-recurring financial charges | 66B | - | €5,850 | +€5,850 | |
| Profit (loss) for the period before taxes | 9903 | €39,864 | €26,868 | -€12,996 | -32.6% |
| Income taxes | 67/77 | €12,294 | €8,748 | -€3,546 | -28.8% |
| Profit (loss) for the period | 9904 | €27,570 | €18,120 | -€9,450 | -34.3% |
| Profit (loss) for the period to be appropriated | 9905 | €27,570 | €18,120 | -€9,450 | -34.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.