LIFO: 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.
LIFO
Largest movements
No asset line moved by more than 1% of the balance sheet total.
No liability line moved by more than 1% of the balance sheet total.
- Gross operating margin +€2,978
up €2,978 (+91.4%), from -€3,260 to -€282
- Depreciation -€432
down €432 (-34.9%), from €1,239 to €807
- Other operating charges -€65
down €65 (-4.7%), from €1,390 to €1,325
- Financial income -€43
down €43 (-6.4%), from €671 to €628
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 | €879,781 | €880,971 | +€1,190 | +0.1% |
| Formation expenses | 20 | €390 | €138 | -€252 | -64.6% |
| Fixed assets | 21/28 | €298,212 | €297,658 | -€555 | -0.2% |
| Tangible fixed assets | 22/27 | €294,512 | €293,958 | -€555 | -0.2% |
| Land and buildings | 22 | €293,912 | €293,912 | = | 0.0% |
| Furniture and vehicles | 24 | €600 | €46 | -€555 | -92.4% |
| Financial fixed assets | 28 | €3,700 | €3,700 | = | 0.0% |
| Current assets | 29/58 | €581,179 | €583,175 | +€1,996 | +0.3% |
| Amounts receivable after more than one year | 29 | €10,634 | €11,226 | +€592 | +5.6% |
| Other amounts receivable | 291 | €10,634 | €11,226 | +€592 | +5.6% |
| Stocks and contracts in progress | 3 | €566,557 | €566,557 | = | 0.0% |
| Stocks | 30/36 | €566,557 | €566,557 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,336 | €5,254 | +€1,918 | +57.5% |
| Trade receivables | 40 | - | €1,557 | +€1,557 | |
| Other amounts receivable | 41 | €3,336 | €3,697 | +€361 | +10.8% |
| Cash at bank and in hand | 54/58 | €652 | €138 | -€514 | -78.8% |
| Total equity and liabilities | 10/49 | €879,781 | €880,971 | +€1,190 | +0.1% |
| Equity | 10/15 | -€68,799 | -€70,664 | -€1,865 | -2.7% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€98,799 | -€100,664 | -€1,865 | -1.9% |
| Amounts payable | 17/49 | €948,580 | €951,635 | +€3,055 | +0.3% |
| Amounts payable within one year | 42/48 | €948,580 | €951,635 | +€3,055 | +0.3% |
| Trade debts | 44 | €2,600 | €1,855 | -€745 | -28.7% |
| Suppliers | 440/4 | €2,600 | €1,855 | -€745 | -28.7% |
| Other amounts payable | 47/48 | €945,979 | €949,779 | +€3,800 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,239 | €807 | -€432 | -34.9% |
| Other operating charges | 640/8 | €1,390 | €1,325 | -€65 | -4.7% |
| Gross operating margin | 9900 | -€3,260 | -€282 | +€2,978 | +91.4% |
| Operating profit (loss) | 9901 | -€5,888 | -€2,413 | +€3,475 | +59.0% |
| Financial income | 75/76B | €671 | €628 | -€43 | -6.4% |
| Recurring financial income | 75 | €671 | €628 | -€43 | -6.4% |
| Financial charges | 65/66B | €77 | €80 | +€3 | +4.3% |
| Recurring financial charges | 65 | €77 | €80 | +€3 | +4.3% |
| Profit (loss) for the period before taxes | 9903 | -€5,294 | -€1,865 | +€3,429 | +64.8% |
| Profit (loss) for the period | 9904 | -€5,294 | -€1,865 | +€3,429 | +64.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€5,294 | -€1,865 | +€3,429 | +64.8% |
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 3 October 2026 via checked.be.