LISAM CONNECT: 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.
What changed
LISAM CONNECT
NACE 62.100, Computer programming
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.7m
2024 · €4,087+€1.7m
Equity
€14.9m
2024 · €14.1m+€843,292
Cash
€57,731
2024 · €69,831-€12,100
Balance sheet total
€24.3m
2024 · €24.4m-€129,932
Largest movements
Assets
- Tangible fixed assets -€1.4m
down €1.4m (-25.0%), from €5.4m to €4.1m
of which Land and buildings: -€1.4m
- Receivables after one year +€1.3m
up €1.3m (+41.3%), from €3.2m to €4.6m
- Receivables within one year -€413,626
down €413,626 (-90.0%), from €459,599 to €45,973
of which Trade receivables: -€349,739
- Financial fixed assets +€382,500
up €382,500 (+2.6%), from €14.7m to €15.1m
Equity and liabilities
- Profit (loss) carried forward +€1.6m
up €1.6m (+414%), from €395,965 to €2.0m
- Revaluation surpluses -€1.5m
down €1.5m (-18.3%), from €8.5m to €6.9m
- Reserves +€751,752
up €751,752 (+401%), from €187,527 to €939,279
of which Distributable reserves: +€665,508
- Short-term financial debts -€617,421
down €617,421 (-35.0%), from €1.8m to €1.1m
- Debts after one year -€558,468
down €558,468 (-7.5%), from €7.5m to €6.9m
Income statement
- Gross operating margin +€1.4m
up €1.4m (+146%), from €957,411 to €2.4m
- Purchases and services +€434,383
up €434,383 (+31.1%), from €1.4m to €1.8m
- Depreciation -€282,167
down €282,167 (-46.7%), from €604,268 to €322,101
- Turnover +€128,273
up €128,273 (+7.1%), from €1.8m to €1.9m
- Financial charges -€66,301
down €66,301 (-22.6%), from €293,280 to €226,978
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.
Result 2024
€4,087
Gross operating margin
+€1.4m
Staff costs
-€20,041
Depreciation
+€282,167
Write-downs
-€7,778
Other operating charges
+€12,644
Financial income
-€34,336
Financial charges
+€66,301
Taxes
+€21,442
Result 2025
€1.7m
raises the resultlowers the result
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.
From operations
+€1.5m
Investment
+€719,222
Financing
-€2.2m
Cash 2024
€69,831
From operations (derived)
+€1.5m
Net result for the year
+€1.7m
Depreciation
+€322,101
Receivables after one year
-€1.3m
Receivables within one year
+€413,626
Smaller working-capital items
-€6,807
Trade debts
+€362,215
Investment (derived)
+€719,222
Investment in fixed assets (net)
+€719,222
Financing
-€2.2m
Debts after one year
-€558,468
Current portion of long-term debt
-€153,378
Short-term financial debts
-€617,421
Contributions, distributions and other
-€881,584
Cash 2025
€57,731
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €24,397,885 | €24,267,954 | -€129,932 | -0.5% |
| Fixed assets | 21/28 | €20,624,901 | €19,583,578 | -€1.0m | -5.0% |
| Intangible fixed assets | 21 | €484,584 | €418,739 | -€65,845 | -13.6% |
| Tangible fixed assets | 22/27 | €5,428,570 | €4,070,592 | -€1.4m | -25.0% |
| Land and buildings | 22 | €5,428,236 | €4,070,486 | -€1.4m | -25.0% |
| Plant, machinery and equipment | 23 | €170 | €106 | -€64 | -37.6% |
| Furniture and vehicles | 24 | €164 | €0 | -€164 | -100% |
| Financial fixed assets | 28 | €14,711,747 | €15,094,247 | +€382,500 | +2.6% |
| Current assets | 29/58 | €3,772,985 | €4,684,376 | +€911,391 | +24.2% |
| Amounts receivable after more than one year | 29 | €3,233,647 | €4,570,129 | +€1.3m | +41.3% |
| Trade receivables | 290 | €3,233,647 | €4,570,129 | +€1.3m | +41.3% |
| Amounts receivable within one year | 40/41 | €459,599 | €45,973 | -€413,626 | -90.0% |
| Trade receivables | 40 | €381,190 | €31,451 | -€349,739 | -91.7% |
| Other amounts receivable | 41 | €78,409 | €14,522 | -€63,888 | -81.5% |
| Cash at bank and in hand | 54/58 | €69,831 | €57,731 | -€12,100 | -17.3% |
| Deferred charges and accrued income | 490/1 | €9,908 | €10,543 | +€635 | +6.4% |
| Total equity and liabilities | 10/49 | €24,397,885 | €24,267,954 | -€129,932 | -0.5% |
| Equity | 10/15 | €14,072,911 | €14,916,202 | +€843,292 | +6.0% |
| Contributions | 10/11 | €5,014,083 | €5,014,083 | = | 0.0% |
| Capital | 10 | €4,968,726 | €4,968,726 | = | 0.0% |
| Issued capital | 100 | €4,968,726 | €4,968,726 | = | 0.0% |
| Contributions outside capital | 11 | €45,357 | €45,357 | = | 0.0% |
| Share premium | 1100/10 | €45,357 | €45,357 | = | 0.0% |
| Revaluation surpluses | 12 | €8,475,336 | €6,928,244 | -€1.5m | -18.3% |
| Reserves | 13 | €187,527 | €939,279 | +€751,752 | +401% |
| Non-distributable reserves | 130/1 | €133,918 | €220,161 | +€86,244 | +64.4% |
| Legal reserve | 130 | €133,918 | €220,161 | +€86,244 | +64.4% |
| Distributable reserves | 133 | €53,609 | €719,118 | +€665,508 | +1,241% |
| Profit (loss) carried forward | 14 | €395,965 | €2,034,597 | +€1.6m | +414% |
| Amounts payable | 17/49 | €10,324,975 | €9,351,751 | -€973,223 | -9.4% |
| Amounts payable after more than one year | 17 | €7,487,909 | €6,929,441 | -€558,468 | -7.5% |
| Financial debts | 170/4 | €7,487,909 | €6,929,441 | -€558,468 | -7.5% |
| Amounts payable within one year | 42/48 | €2,826,213 | €2,413,339 | -€412,874 | -14.6% |
| Current portion of amounts payable after more than one year | 42 | €742,892 | €589,514 | -€153,378 | -20.6% |
| Financial debts | 43 | €1,765,506 | €1,148,085 | -€617,421 | -35.0% |
| Credit institutions | 430/8 | €1,765,506 | €1,148,085 | -€617,421 | -35.0% |
| Trade debts | 44 | €281,517 | €643,733 | +€362,215 | +129% |
| Suppliers | 440/4 | €281,517 | €643,733 | +€362,215 | +129% |
| Taxes, remuneration and social security | 45 | €17,941 | €13,649 | -€4,291 | -23.9% |
| Taxes | 450/3 | €8,868 | €5,310 | -€3,558 | -40.1% |
| Remuneration and social security | 454/9 | €9,072 | €8,339 | -€733 | -8.1% |
| Other amounts payable | 47/48 | €18,357 | €18,357 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €10,852 | €8,971 | -€1,881 | -17.3% |
| Turnover | 70 | €1,819,095 | €1,947,369 | +€128,273 | +7.1% |
| Non-recurring operating income | 76A | - | €1,804,922 | +€1.8m | |
| Goods, raw materials, services and sundry goods | 60/61 | €1,397,991 | €1,832,374 | +€434,383 | +31.1% |
| Remuneration, social security and pensions | 62 | €47,566 | €67,607 | +€20,041 | +42.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €604,268 | €322,101 | -€282,167 | -46.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€7,778 | - | +€7,778 | |
| Other operating charges | 640/8 | €74,954 | €62,311 | -€12,644 | -16.9% |
| Gross operating margin | 9900 | €957,411 | €2,357,801 | +€1.4m | +146% |
| Operating profit (loss) | 9901 | €238,400 | €1,905,782 | +€1.7m | +699% |
| Financial income | 75/76B | €90,644 | €56,308 | -€34,336 | -37.9% |
| Recurring financial income | 75 | €90,644 | €56,308 | -€34,336 | -37.9% |
| Financial charges | 65/66B | €293,280 | €226,978 | -€66,301 | -22.6% |
| Recurring financial charges | 65 | €293,280 | €226,978 | -€66,301 | -22.6% |
| Profit (loss) for the period before taxes | 9903 | €35,765 | €1,735,111 | +€1.7m | +4,751% |
| Income taxes | 67/77 | €31,678 | €10,236 | -€21,442 | -67.7% |
| Profit (loss) for the period | 9904 | €4,087 | €1,724,875 | +€1.7m | +42,108% |
| Profit (loss) for the period to be appropriated | 9905 | €4,087 | €1,724,875 | +€1.7m | +42,108% |
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.