LHD: 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.
LHD
Largest movements
- Receivables within one year +€201,066
up €201,066 (+18.7%), from €1.1m to €1.3m
of which Other amounts receivable: +€200,187
- Tangible fixed assets -€48,150
down €48,150 (-2.3%), from €2.1m to €2.1m
of which Land and buildings: -€46,618
- Other debts +€917,849
up €917,849 (+261.8%), from €350,540 to €1.3m
- Reserves -€594,373
down €594,373 (-23.7%), from €2.5m to €1.9m
- Debts after one year -€134,421
down €134,421 (-10.1%), from €1.3m to €1.2m
of which Financial debts: -€134,659
- Financial income +€145,507
up €145,507 (+55.9%), from €260,456 to €405,963
- Gross operating margin -€35,108
down €35,108 (-19.1%), from €183,821 to €148,713
- Financial charges +€7,355
up €7,355 (+30.4%), from €24,185 to €31,541
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 | €4,374,822 | €4,541,405 | +€166,583 | +3.8% |
| Fixed assets | 21/28 | €2,999,427 | €2,951,276 | -€48,150 | -1.6% |
| Tangible fixed assets | 22/27 | €2,139,334 | €2,091,184 | -€48,150 | -2.3% |
| Land and buildings | 22 | €2,130,998 | €2,084,380 | -€46,618 | -2.2% |
| Furniture and vehicles | 24 | €8,335 | €6,803 | -€1,532 | -18.4% |
| Financial fixed assets | 28 | €860,093 | €860,093 | = | 0.0% |
| Current assets | 29/58 | €1,375,395 | €1,590,129 | +€214,733 | +15.6% |
| Amounts receivable after more than one year | 29 | €250,000 | €250,000 | = | 0.0% |
| Other amounts receivable | 291 | €250,000 | €250,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,073,505 | €1,274,571 | +€201,066 | +18.7% |
| Trade receivables | 40 | €21,000 | €21,879 | +€879 | +4.2% |
| Other amounts receivable | 41 | €1,052,505 | €1,252,692 | +€200,187 | +19.0% |
| Cash at bank and in hand | 54/58 | €36,908 | €54,581 | +€17,673 | +47.9% |
| Deferred charges and accrued income | 490/1 | €14,983 | €10,977 | -€4,006 | -26.7% |
| Total equity and liabilities | 10/49 | €4,374,822 | €4,541,405 | +€166,583 | +3.8% |
| Equity | 10/15 | €2,532,574 | €1,938,201 | -€594,373 | -23.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,512,574 | €1,918,201 | -€594,373 | -23.7% |
| Distributable reserves | 133 | €2,512,574 | €1,918,201 | -€594,373 | -23.7% |
| Amounts payable | 17/49 | €1,842,248 | €2,603,204 | +€760,957 | +41.3% |
| Amounts payable after more than one year | 17 | €1,325,308 | €1,190,887 | -€134,421 | -10.1% |
| Financial debts | 170/4 | €1,316,651 | €1,181,992 | -€134,659 | -10.2% |
| Other amounts payable | 178/9 | €8,657 | €8,895 | +€238 | +2.7% |
| Amounts payable within one year | 42/48 | €516,940 | €1,403,048 | +€886,108 | +171.4% |
| Current portion of amounts payable after more than one year | 42 | €148,633 | €134,659 | -€13,975 | -9.4% |
| Trade debts | 44 | €17,766 | - | -€17,766 | |
| Suppliers | 440/4 | €17,766 | - | -€17,766 | |
| Other amounts payable | 47/48 | €350,540 | €1,268,389 | +€917,849 | +261.8% |
| Accrued charges and deferred income | 492/3 | - | €9,269 | +€9,269 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,669 | €52,181 | +€512 | +1.0% |
| Other operating charges | 640/8 | €22,318 | €22,826 | +€508 | +2.3% |
| Gross operating margin | 9900 | €183,821 | €148,713 | -€35,108 | -19.1% |
| Operating profit (loss) | 9901 | €109,834 | €73,706 | -€36,128 | -32.9% |
| Financial income | 75/76B | €260,456 | €405,963 | +€145,507 | +55.9% |
| Recurring financial income | 75 | €260,456 | €405,963 | +€145,507 | +55.9% |
| Financial charges | 65/66B | €24,185 | €31,541 | +€7,355 | +30.4% |
| Recurring financial charges | 65 | €24,185 | €31,541 | +€7,355 | +30.4% |
| Profit (loss) for the period before taxes | 9903 | €346,105 | €448,129 | +€102,024 | +29.5% |
| Income taxes | 67/77 | €495 | €513 | +€17 | +3.5% |
| Profit (loss) for the period | 9904 | €345,609 | €447,616 | +€102,006 | +29.5% |
| Profit (loss) for the period to be appropriated | 9905 | €345,609 | €447,616 | +€102,006 | +29.5% |
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 5 October 2026 via checked.be.