LIGHT FACTORY: 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.
LIGHT FACTORY
Largest movements
- Receivables within one year +€69,752
up €69,752 (+35.7%), from €195,301 to €265,053
of which Trade receivables: +€69,433
- Cash -€36,245
down €36,245 (-20.4%), from €177,324 to €141,079
mainly Receivables within one year (-€69,752) and Investment in fixed assets (net) (-€20,918)
- Tangible fixed assets -€34,863
down €34,863 (-15.2%), from €228,766 to €193,903
of which Land and buildings: -€21,894
- Stocks and contracts -€11,457
down €11,457 (-3.2%), from €358,618 to €347,161
of which Stocks: -€32,654
- Trade debts +€27,057
up €27,057 (+15.0%), from €180,075 to €207,132
- Current portion of long-term debt -€16,649
down €16,649 (-8.1%), from €204,561 to €187,912
- Debts after one year -€15,713
down €15,713 (-25.2%), from €62,299 to €46,586
- Other debts +€14,949
up €14,949 (+170%), from €8,777 to €23,726
- Reserves -€14,870
down €14,870 (-5.5%), from €271,066 to €256,196
of which Distributable reserves: -€14,869
- Gross operating margin -€43,642
down €43,642 (-17.8%), from €245,401 to €201,759
- Staff costs -€38,499
down €38,499 (-25.2%), from €152,782 to €114,283
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 | €966,592 | €952,565 | -€14,027 | -1.5% |
| Fixed assets | 21/28 | €228,766 | €193,903 | -€34,863 | -15.2% |
| Tangible fixed assets | 22/27 | €228,766 | €193,903 | -€34,863 | -15.2% |
| Land and buildings | 22 | €132,218 | €110,324 | -€21,894 | -16.6% |
| Plant, machinery and equipment | 23 | €1,991 | €19,172 | +€17,181 | +863% |
| Furniture and vehicles | 24 | €43,928 | €28,386 | -€15,542 | -35.4% |
| Leasing and similar rights | 25 | €50,629 | €36,021 | -€14,608 | -28.9% |
| Current assets | 29/58 | €737,826 | €758,662 | +€20,836 | +2.8% |
| Stocks and contracts in progress | 3 | €358,618 | €347,161 | -€11,457 | -3.2% |
| Stocks | 30/36 | €320,443 | €287,789 | -€32,654 | -10.2% |
| Contracts in progress | 37 | €38,175 | €59,372 | +€21,197 | +55.5% |
| Amounts receivable within one year | 40/41 | €195,301 | €265,053 | +€69,752 | +35.7% |
| Trade receivables | 40 | €195,301 | €264,734 | +€69,433 | +35.6% |
| Other amounts receivable | 41 | - | €319 | +€319 | |
| Cash at bank and in hand | 54/58 | €177,324 | €141,079 | -€36,245 | -20.4% |
| Deferred charges and accrued income | 490/1 | €6,583 | €5,369 | -€1,214 | -18.4% |
| Total equity and liabilities | 10/49 | €966,592 | €952,565 | -€14,027 | -1.5% |
| Equity | 10/15 | €405,534 | €390,664 | -€14,870 | -3.7% |
| Contributions | 10/11 | €123,947 | €123,947 | = | 0.0% |
| Reserves | 13 | €271,066 | €256,196 | -€14,870 | -5.5% |
| Non-distributable reserves | 130/1 | €12,395 | €12,394 | -€1 | 0.0% |
| Reserves not available under the articles | 1311 | €12,395 | €12,394 | -€1 | 0.0% |
| Tax-exempt reserves | 132 | €25,644 | €25,644 | = | 0.0% |
| Distributable reserves | 133 | €233,027 | €218,158 | -€14,869 | -6.4% |
| Profit (loss) carried forward | 14 | €10,521 | €10,521 | = | 0.0% |
| Amounts payable | 17/49 | €561,058 | €561,901 | +€843 | +0.2% |
| Amounts payable after more than one year | 17 | €62,299 | €46,586 | -€15,713 | -25.2% |
| Financial debts | 170/4 | €62,299 | €46,586 | -€15,713 | -25.2% |
| Amounts payable within one year | 42/48 | €475,454 | €494,061 | +€18,607 | +3.9% |
| Current portion of amounts payable after more than one year | 42 | €204,561 | €187,912 | -€16,649 | -8.1% |
| Trade debts | 44 | €180,075 | €207,132 | +€27,057 | +15.0% |
| Suppliers | 440/4 | €180,075 | €207,132 | +€27,057 | +15.0% |
| Taxes, remuneration and social security | 45 | €82,041 | €75,291 | -€6,750 | -8.2% |
| Taxes | 450/3 | €64,666 | €60,822 | -€3,844 | -5.9% |
| Remuneration and social security | 454/9 | €17,375 | €14,469 | -€2,906 | -16.7% |
| Other amounts payable | 47/48 | €8,777 | €23,726 | +€14,949 | +170% |
| Accrued charges and deferred income | 492/3 | €23,305 | €21,254 | -€2,051 | -8.8% |
| Remuneration, social security and pensions | 62 | €152,782 | €114,283 | -€38,499 | -25.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €54,487 | €55,781 | +€1,294 | +2.4% |
| Other operating charges | 640/8 | €7,762 | €7,540 | -€222 | -2.9% |
| Gross operating margin | 9900 | €245,401 | €201,759 | -€43,642 | -17.8% |
| Operating profit (loss) | 9901 | €30,370 | €24,155 | -€6,215 | -20.5% |
| Financial income | 75/76B | €1,590 | €291 | -€1,299 | -81.7% |
| Recurring financial income | 75 | €408 | €291 | -€117 | -28.7% |
| Non-recurring financial income | 76B | €1,182 | - | -€1,182 | |
| Financial charges | 65/66B | €16,476 | €14,634 | -€1,842 | -11.2% |
| Recurring financial charges | 65 | €16,476 | €14,330 | -€2,146 | -13.0% |
| Non-recurring financial charges | 66B | - | €304 | +€304 | |
| Profit (loss) for the period before taxes | 9903 | €15,484 | €9,812 | -€5,672 | -36.6% |
| Income taxes | 67/77 | €6,450 | €4,681 | -€1,769 | -27.4% |
| Profit (loss) for the period | 9904 | €9,034 | €5,131 | -€3,903 | -43.2% |
| Profit (loss) for the period to be appropriated | 9905 | €9,034 | €5,131 | -€3,903 | -43.2% |
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 20 October 2026 via checked.be.