LICHT + VORM: 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.
LICHT + VORM
Largest movements
- Receivables within one year +€121,343
up €121,343 (+43.8%), from €277,283 to €398,627
of which Trade receivables: +€85,043
- Stocks and contracts -€24,814
down €24,814 (-23.2%), from €106,914 to €82,100
- Cash +€23,752
up €23,752 (+30.6%), from €77,534 to €101,286
mainly Trade debts (+€69,447) and Debts after one year (+€66,571)
- Tangible fixed assets -€7,934
down €7,934 (-21.9%), from €36,302 to €28,368
of which Furniture and vehicles: -€5,133
- Trade debts +€69,447
up €69,447 (+32.9%), from €211,400 to €280,847
- Debts after one year +€66,571
up €66,571 (+388%), from €17,145 to €83,716
- Reserves -€10,766
down €10,766 (-5.5%), from €194,721 to €183,956
- Current portion of long-term debt -€7,395
down €7,395 (-32.7%), from €22,616 to €15,222
- Staff costs -€44,753
down €44,753 (-24.6%), from €182,168 to €137,415
- Gross operating margin -€28,750
down €28,750 (-12.9%), from €222,797 to €194,047
- Financial income -€3,963
down €3,963 (-48.1%), from €8,238 to €4,275
- Taxes +€3,484
up €3,484 (+60.1%), from €5,795 to €9,279
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 | €505,982 | €620,137 | +€114,155 | +22.6% |
| Fixed assets | 21/28 | €41,474 | €35,873 | -€5,602 | -13.5% |
| Intangible fixed assets | 21 | €5,172 | €7,504 | +€2,332 | +45.1% |
| Tangible fixed assets | 22/27 | €36,302 | €28,368 | -€7,934 | -21.9% |
| Plant, machinery and equipment | 23 | €4,173 | €3,360 | -€813 | -19.5% |
| Furniture and vehicles | 24 | €28,638 | €23,505 | -€5,133 | -17.9% |
| Other tangible fixed assets | 26 | €3,492 | €1,503 | -€1,988 | -56.9% |
| Current assets | 29/58 | €464,507 | €584,264 | +€119,757 | +25.8% |
| Stocks and contracts in progress | 3 | €106,914 | €82,100 | -€24,814 | -23.2% |
| Stocks | 30/36 | €106,914 | €82,100 | -€24,814 | -23.2% |
| Amounts receivable within one year | 40/41 | €277,283 | €398,627 | +€121,343 | +43.8% |
| Trade receivables | 40 | €228,606 | €313,649 | +€85,043 | +37.2% |
| Other amounts receivable | 41 | €48,678 | €84,977 | +€36,300 | +74.6% |
| Cash at bank and in hand | 54/58 | €77,534 | €101,286 | +€23,752 | +30.6% |
| Deferred charges and accrued income | 490/1 | €2,776 | €2,252 | -€524 | -18.9% |
| Total equity and liabilities | 10/49 | €505,982 | €620,137 | +€114,155 | +22.6% |
| Equity | 10/15 | €213,321 | €202,556 | -€10,766 | -5.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €194,721 | €183,956 | -€10,766 | -5.5% |
| Distributable reserves | 133 | €194,721 | €183,956 | -€10,766 | -5.5% |
| Amounts payable | 17/49 | €292,660 | €417,581 | +€124,921 | +42.7% |
| Amounts payable after more than one year | 17 | €17,145 | €83,716 | +€66,571 | +388% |
| Financial debts | 170/4 | €17,145 | €83,716 | +€66,571 | +388% |
| Amounts payable within one year | 42/48 | €272,465 | €330,695 | +€58,230 | +21.4% |
| Current portion of amounts payable after more than one year | 42 | €22,616 | €15,222 | -€7,395 | -32.7% |
| Trade debts | 44 | €211,400 | €280,847 | +€69,447 | +32.9% |
| Suppliers | 440/4 | €211,400 | €280,847 | +€69,447 | +32.9% |
| Taxes, remuneration and social security | 45 | €38,449 | €34,626 | -€3,822 | -9.9% |
| Taxes | 450/3 | €14,869 | €22,115 | +€7,246 | +48.7% |
| Remuneration and social security | 454/9 | €23,579 | €12,511 | -€11,068 | -46.9% |
| Accrued charges and deferred income | 492/3 | €3,050 | €3,170 | +€120 | +3.9% |
| Non-recurring operating income | 76A | €3,330 | - | -€3,330 | |
| Remuneration, social security and pensions | 62 | €182,168 | €137,415 | -€44,753 | -24.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,301 | €15,388 | +€1,087 | +7.6% |
| Other operating charges | 640/8 | €4,073 | €3,166 | -€908 | -22.3% |
| Gross operating margin | 9900 | €222,797 | €194,047 | -€28,750 | -12.9% |
| Operating profit (loss) | 9901 | €22,254 | €38,077 | +€15,823 | +71.1% |
| Financial income | 75/76B | €8,238 | €4,275 | -€3,963 | -48.1% |
| Recurring financial income | 75 | €8,238 | €4,275 | -€3,963 | -48.1% |
| Financial charges | 65/66B | €17,349 | €18,338 | +€989 | +5.7% |
| Recurring financial charges | 65 | €17,349 | €18,338 | +€989 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €13,143 | €24,013 | +€10,871 | +82.7% |
| Income taxes | 67/77 | €5,795 | €9,279 | +€3,484 | +60.1% |
| Profit (loss) for the period | 9904 | €7,348 | €14,734 | +€7,386 | +101% |
| Profit (loss) for the period to be appropriated | 9905 | €7,348 | €14,734 | +€7,386 | +101% |
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 24 October 2026 via checked.be.