LHK: 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.
LHK
Largest movements
- Tangible fixed assets +€33,118
up €33,118 (+4.7%), from €703,699 to €736,817
of which Land and buildings: +€36,352
- Other debts -€58,132
down €58,132 (-43.7%), from €133,160 to €75,028
- Reserves +€22,383
new in 2025: €22,383
- Advances received +€19,822
new in 2025: €19,822
- Profit (loss) carried forward +€15,054
up €15,054, from -€15,054 to €0
- Current portion of long-term debt +€14,600
up €14,600 (+54.0%), from €27,056 to €41,655
- Gross operating margin +€65,389
up €65,389 (+237%), from €27,542 to €92,931
- Depreciation -€52,521
down €52,521 (-62.4%), from €84,139 to €31,617
- Taxes +€16,683
up €16,683, from -€10,301 to €6,382
- Financial charges -€3,474
down €3,474 (-17.4%), from €19,923 to €16,449
- Other operating charges -€1,305
down €1,305 (-42.4%), from €3,079 to €1,774
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 | €765,813 | €795,611 | +€29,798 | +3.9% |
| Fixed assets | 21/28 | €703,699 | €737,666 | +€33,966 | +4.8% |
| Tangible fixed assets | 22/27 | €703,699 | €736,817 | +€33,118 | +4.7% |
| Land and buildings | 22 | €687,259 | €723,611 | +€36,352 | +5.3% |
| Plant, machinery and equipment | 23 | €16,440 | €13,206 | -€3,234 | -19.7% |
| Financial fixed assets | 28 | - | €849 | +€849 | |
| Current assets | 29/58 | €62,114 | €57,945 | -€4,169 | -6.7% |
| Amounts receivable within one year | 40/41 | €50,339 | €50,455 | +€116 | +0.2% |
| Trade receivables | 40 | €30,040 | €36,877 | +€6,837 | +22.8% |
| Other amounts receivable | 41 | €20,299 | €13,578 | -€6,722 | -33.1% |
| Cash at bank and in hand | 54/58 | €4,436 | €1,537 | -€2,899 | -65.4% |
| Deferred charges and accrued income | 490/1 | €7,339 | €5,954 | -€1,385 | -18.9% |
| Total equity and liabilities | 10/49 | €765,813 | €795,611 | +€29,798 | +3.9% |
| Equity | 10/15 | €12,946 | €50,383 | +€37,437 | +289% |
| Contributions | 10/11 | €28,000 | €28,000 | = | 0.0% |
| Reserves | 13 | - | €22,383 | +€22,383 | |
| Distributable reserves | 133 | - | €22,383 | +€22,383 | |
| Profit (loss) carried forward | 14 | -€15,054 | €0 | +€15,054 | |
| Amounts payable | 17/49 | €752,868 | €745,228 | -€7,639 | -1.0% |
| Amounts payable after more than one year | 17 | €584,448 | €594,523 | +€10,075 | +1.7% |
| Financial debts | 170/4 | €584,448 | €594,523 | +€10,075 | +1.7% |
| Amounts payable within one year | 42/48 | €168,419 | €149,405 | -€19,014 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €27,056 | €41,655 | +€14,600 | +54.0% |
| Trade debts | 44 | €2,599 | €7,611 | +€5,012 | +193% |
| Suppliers | 440/4 | €2,599 | €7,611 | +€5,012 | +193% |
| Advances received on contracts in progress | 46 | - | €19,822 | +€19,822 | |
| Taxes, remuneration and social security | 45 | €5,605 | €5,289 | -€316 | -5.6% |
| Taxes | 450/3 | €5,605 | €5,289 | -€316 | -5.6% |
| Other amounts payable | 47/48 | €133,160 | €75,028 | -€58,132 | -43.7% |
| Accrued charges and deferred income | 492/3 | - | €1,300 | +€1,300 | |
| Remuneration, social security and pensions | 62 | €385 | €0 | -€385 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €84,139 | €31,617 | -€52,521 | -62.4% |
| Other operating charges | 640/8 | €3,079 | €1,774 | -€1,305 | -42.4% |
| Non-recurring operating charges | 66A | €5,159 | €0 | -€5,159 | -100% |
| Gross operating margin | 9900 | €27,542 | €92,931 | +€65,389 | +237% |
| Operating profit (loss) | 9901 | -€65,220 | €59,540 | +€124,760 | |
| Financial income | 75/76B | €1,232 | €729 | -€504 | -40.9% |
| Recurring financial income | 75 | €1,232 | €729 | -€504 | -40.9% |
| Financial charges | 65/66B | €19,923 | €16,449 | -€3,474 | -17.4% |
| Recurring financial charges | 65 | €19,923 | €16,449 | -€3,474 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | -€83,911 | €43,819 | +€127,730 | |
| Income taxes | 67/77 | -€10,301 | €6,382 | +€16,683 | |
| Profit (loss) for the period | 9904 | -€73,610 | €37,437 | +€111,047 | |
| Profit (loss) for the period to be appropriated | 9905 | -€73,610 | €37,437 | +€111,047 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.