LHFE: 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.
LHFE
Largest movements
- Cash -€218,659
down €218,659 (-73.2%), from €298,878 to €80,219
mainly Contributions, distributions and other (-€395,856) and Receivables within one year (-€38,148)
- Receivables within one year +€38,148
up €38,148 (+209.0%), from €18,255 to €56,403
- Tangible fixed assets -€14,672
down €14,672 (-39.2%), from €37,440 to €22,768
- Reserves -€260,856
no longer reported in 2025 (was €260,856)
- Other debts +€102,079
up €102,079 (+500.6%), from €20,392 to €122,471
- Tax, wage and social debts -€24,908
down €24,908 (-53.6%), from €46,471 to €21,563
- Debts after one year -€10,078
down €10,078 (-59.9%), from €16,830 to €6,752
- Gross operating margin +€5,755
up €5,755 (+3.1%), from €187,250 to €193,005
- Taxes +€2,115
up €2,115 (+5.5%), from €38,758 to €40,873
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 | €358,397 | €164,499 | -€193,898 | -54.1% |
| Fixed assets | 21/28 | €37,470 | €22,798 | -€14,672 | -39.2% |
| Tangible fixed assets | 22/27 | €37,440 | €22,768 | -€14,672 | -39.2% |
| Furniture and vehicles | 24 | €37,440 | €22,768 | -€14,672 | -39.2% |
| Financial fixed assets | 28 | €30 | €30 | = | 0.0% |
| Current assets | 29/58 | €320,927 | €141,701 | -€179,226 | -55.8% |
| Stocks and contracts in progress | 3 | €3,512 | €3,512 | = | 0.0% |
| Stocks | 30/36 | €3,512 | €3,512 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €18,255 | €56,403 | +€38,148 | +209.0% |
| Trade receivables | 40 | €18,255 | €56,403 | +€38,148 | +209.0% |
| Cash at bank and in hand | 54/58 | €298,878 | €80,219 | -€218,659 | -73.2% |
| Deferred charges and accrued income | 490/1 | €282 | €1,567 | +€1,285 | +455.7% |
| Total equity and liabilities | 10/49 | €358,397 | €164,499 | -€193,898 | -54.1% |
| Equity | 10/15 | €263,356 | €2,633 | -€260,723 | -99.0% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €260,856 | - | -€260,856 | |
| Distributable reserves | 133 | €260,856 | - | -€260,856 | |
| Profit (loss) carried forward | 14 | - | €133 | +€133 | |
| Amounts payable | 17/49 | €95,041 | €161,866 | +€66,825 | +70.3% |
| Amounts payable after more than one year | 17 | €16,830 | €6,752 | -€10,078 | -59.9% |
| Financial debts | 170/4 | €16,830 | €6,752 | -€10,078 | -59.9% |
| Amounts payable within one year | 42/48 | €77,087 | €154,112 | +€77,025 | +99.9% |
| Current portion of amounts payable after more than one year | 42 | €10,019 | €10,078 | +€59 | +0.6% |
| Trade debts | 44 | €205 | - | -€205 | |
| Suppliers | 440/4 | €205 | - | -€205 | |
| Taxes, remuneration and social security | 45 | €46,471 | €21,563 | -€24,908 | -53.6% |
| Taxes | 450/3 | €46,471 | €21,563 | -€24,908 | -53.6% |
| Other amounts payable | 47/48 | €20,392 | €122,471 | +€102,079 | +500.6% |
| Accrued charges and deferred income | 492/3 | €1,124 | €1,002 | -€122 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,667 | €14,672 | +€5 | 0.0% |
| Other operating charges | 640/8 | €806 | €826 | +€20 | +2.5% |
| Gross operating margin | 9900 | €187,250 | €193,005 | +€5,755 | +3.1% |
| Operating profit (loss) | 9901 | €171,777 | €177,507 | +€5,730 | +3.3% |
| Financial income | 75/76B | €1,649 | €6 | -€1,643 | -99.6% |
| Recurring financial income | 75 | €1,649 | €6 | -€1,643 | -99.6% |
| Financial charges | 65/66B | €1,613 | €1,507 | -€106 | -6.6% |
| Recurring financial charges | 65 | €1,613 | €1,507 | -€106 | -6.6% |
| Profit (loss) for the period before taxes | 9903 | €171,813 | €176,006 | +€4,193 | +2.4% |
| Income taxes | 67/77 | €38,758 | €40,873 | +€2,115 | +5.5% |
| Profit (loss) for the period | 9904 | €133,055 | €135,133 | +€2,078 | +1.6% |
| Profit (loss) for the period to be appropriated | 9905 | €133,055 | €135,133 | +€2,078 | +1.6% |
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 29 September 2026 via checked.be.