LHR: 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.
LHR
Largest movements
- Current investments -€560,000
down €560,000 (-100.0%), from €560,000 to €0
- Financial fixed assets +€231,500
up €231,500 (+2.9%), from €7.9m to €8.1m
- Debts after one year -€2.6m
down €2.6m (-38.6%), from €6.6m to €4.1m
of which Financial debts: -€2.6m
- Other debts +€1.4m
up €1.4m (+100562.1%), from €1,440 to €1.4m
- Profit (loss) carried forward +€722,839
up €722,839 (+68.0%), from €1.1m to €1.8m
- Financial income -€670,947
down €670,947 (-43.2%), from €1.6m to €881,123
- Financial charges -€85,327
down €85,327 (-51.4%), from €166,015 to €80,688
- Taxes +€10,121
up €10,121 (+15.8%), from €64,137 to €74,258
- Gross operating margin -€221
down €221 (-11.1%), from -€1,990 to -€2,212
- Other operating charges +€33
up €33 (+3.0%), from €1,094 to €1,126
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 | €8,437,036 | €8,107,960 | -€329,076 | -3.9% |
| Fixed assets | 21/28 | €7,875,267 | €8,106,767 | +€231,500 | +2.9% |
| Financial fixed assets | 28 | €7,875,267 | €8,106,767 | +€231,500 | +2.9% |
| Current assets | 29/58 | €561,769 | €1,193 | -€560,576 | -99.8% |
| Amounts receivable within one year | 40/41 | €478 | €0 | -€478 | -100.0% |
| Other amounts receivable | 41 | €478 | €0 | -€478 | -100.0% |
| Current investments | 50/53 | €560,000 | €0 | -€560,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €394 | €1,193 | +€799 | +202.9% |
| Deferred charges and accrued income | 490/1 | €897 | €0 | -€897 | -100.0% |
| Total equity and liabilities | 10/49 | €8,437,036 | €8,107,960 | -€329,076 | -3.9% |
| Equity | 10/15 | €1,130,617 | €1,853,456 | +€722,839 | +63.9% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,062,967 | €1,785,806 | +€722,839 | +68.0% |
| Amounts payable | 17/49 | €7,306,420 | €6,254,505 | -€1.1m | -14.4% |
| Amounts payable after more than one year | 17 | €6,628,323 | €4,067,297 | -€2.6m | -38.6% |
| Financial debts | 170/4 | €4,342,673 | €1,781,647 | -€2.6m | -59.0% |
| Other amounts payable | 178/9 | €2,285,650 | €2,285,650 | = | 0.0% |
| Amounts payable within one year | 42/48 | €628,999 | €2,158,767 | +€1.5m | +243.2% |
| Current portion of amounts payable after more than one year | 42 | €559,955 | €571,026 | +€11,071 | +2.0% |
| Trade debts | 44 | €2,988 | €0 | -€2,988 | -100.0% |
| Suppliers | 440/4 | €2,988 | €0 | -€2,988 | -100.0% |
| Taxes, remuneration and social security | 45 | €64,616 | €138,207 | +€73,592 | +113.9% |
| Taxes | 450/3 | €64,616 | €138,207 | +€73,592 | +113.9% |
| Other amounts payable | 47/48 | €1,440 | €1,449,534 | +€1.4m | +100562.1% |
| Accrued charges and deferred income | 492/3 | €49,098 | €28,441 | -€20,658 | -42.1% |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Gross operating margin | 9900 | -€1,990 | -€2,212 | -€221 | -11.1% |
| Operating profit (loss) | 9901 | -€3,084 | -€3,338 | -€254 | -8.2% |
| Financial income | 75/76B | €1,552,070 | €881,123 | -€670,947 | -43.2% |
| Recurring financial income | 75 | €1,552,070 | €881,123 | -€670,947 | -43.2% |
| Financial charges | 65/66B | €166,015 | €80,688 | -€85,327 | -51.4% |
| Recurring financial charges | 65 | €166,015 | €80,688 | -€85,327 | -51.4% |
| Profit (loss) for the period before taxes | 9903 | €1,382,971 | €797,097 | -€585,874 | -42.4% |
| Income taxes | 67/77 | €64,137 | €74,258 | +€10,121 | +15.8% |
| Profit (loss) for the period | 9904 | €1,318,834 | €722,839 | -€595,995 | -45.2% |
| Profit (loss) for the period to be appropriated | 9905 | €1,318,834 | €722,839 | -€595,995 | -45.2% |
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 4 October 2026 via checked.be.