LHO Management: 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.
LHO Management
Largest movements
- Cash +€91,702
up €91,702 (+140.3%), from €65,342 to €157,044
mainly Net result for the year (+€75,771) and Tax, wage and social debts (+€8,798)
- Receivables within one year -€5,704
down €5,704 (-36.5%), from €15,634 to €9,930
of which Trade receivables: -€11,609
- Profit (loss) carried forward +€75,771
up €75,771 (+121.5%), from €62,342 to €138,113
- Tax, wage and social debts +€8,798
up €8,798 (+43.3%), from €20,300 to €29,098
- Gross operating margin +€29,420
up €29,420 (+42.3%), from €69,543 to €98,963
- Taxes +€7,689
up €7,689 (+51.7%), from €14,876 to €22,565
- Financial income +€2,172
up €2,172 (+1952.4%), from €111 to €2,283
- Other operating charges +€1,011
up €1,011 (+292.9%), from €345 to €1,356
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 | €86,907 | €171,566 | +€84,659 | +97.4% |
| Fixed assets | 21/28 | €5,930 | €4,592 | -€1,338 | -22.6% |
| Tangible fixed assets | 22/27 | €5,930 | €4,592 | -€1,338 | -22.6% |
| Furniture and vehicles | 24 | €5,930 | €4,592 | -€1,338 | -22.6% |
| Current assets | 29/58 | €80,977 | €166,974 | +€85,997 | +106.2% |
| Amounts receivable within one year | 40/41 | €15,634 | €9,930 | -€5,704 | -36.5% |
| Trade receivables | 40 | €11,609 | €0 | -€11,609 | -100.0% |
| Other amounts receivable | 41 | €4,025 | €9,930 | +€5,905 | +146.7% |
| Cash at bank and in hand | 54/58 | €65,342 | €157,044 | +€91,702 | +140.3% |
| Total equity and liabilities | 10/49 | €86,907 | €171,566 | +€84,659 | +97.4% |
| Equity | 10/15 | €65,342 | €141,113 | +€75,771 | +116.0% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,342 | €138,113 | +€75,771 | +121.5% |
| Amounts payable | 17/49 | €21,565 | €30,453 | +€8,888 | +41.2% |
| Amounts payable within one year | 42/48 | €21,565 | €30,453 | +€8,888 | +41.2% |
| Trade debts | 44 | €1,265 | €1,355 | +€90 | +7.1% |
| Suppliers | 440/4 | €1,265 | €1,355 | +€90 | +7.1% |
| Taxes, remuneration and social security | 45 | €20,300 | €29,098 | +€8,798 | +43.3% |
| Taxes | 450/3 | €20,300 | €29,098 | +€8,798 | +43.3% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €762 | €1,338 | +€577 | +75.7% |
| Other operating charges | 640/8 | €345 | €1,356 | +€1,011 | +292.9% |
| Gross operating margin | 9900 | €69,543 | €98,963 | +€29,420 | +42.3% |
| Operating profit (loss) | 9901 | €68,436 | €96,268 | +€27,832 | +40.7% |
| Financial income | 75/76B | €111 | €2,283 | +€2,172 | +1952.4% |
| Recurring financial income | 75 | €111 | €2,283 | +€2,172 | +1952.4% |
| Financial charges | 65/66B | €88 | €215 | +€126 | +143.3% |
| Recurring financial charges | 65 | €88 | €215 | +€126 | +143.3% |
| Profit (loss) for the period before taxes | 9903 | €68,459 | €98,336 | +€29,877 | +43.6% |
| Income taxes | 67/77 | €14,876 | €22,565 | +€7,689 | +51.7% |
| Profit (loss) for the period | 9904 | €53,583 | €75,771 | +€22,188 | +41.4% |
| Profit (loss) for the period to be appropriated | 9905 | €53,583 | €75,771 | +€22,188 | +41.4% |
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 10 October 2026 via checked.be.