LKD - MANAGEMENT: 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.
LKD - MANAGEMENT
Largest movements
- Deferred charges and accrued income -€110,000
no longer reported in 2025 (was €110,000)
- Tangible fixed assets -€16,606
down €16,606 (-6.8%), from €242,594 to €225,988
of which Land and buildings: -€15,136
- Cash -€9,576
down €9,576 (-38.1%), from €25,134 to €15,558
mainly Other debts (-€122,251) and Accrued charges and deferred income (-€29,240)
- Receivables within one year -€5,388
down €5,388 (-44.9%), from €12,000 to €6,612
- Other debts -€122,251
down €122,251 (-50.9%), from €240,354 to €118,103
- Accrued charges and deferred income -€29,240
no longer reported in 2025 (was €29,240)
- Tax, wage and social debts +€16,421
up €16,421 (+158%), from €10,377 to €26,799
of which Taxes: +€18,518
- Profit (loss) carried forward +€6,299
up €6,299 (+20.7%), from €30,398 to €36,696
- Current portion of long-term debt -€4,736
no longer reported in 2025 (was €4,736)
- Gross operating margin -€58,796
down €58,796 (-45.2%), from €130,139 to €71,342
- Staff costs -€57,086
down €57,086 (-54.3%), from €105,159 to €48,074
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 | €389,728 | €248,772 | -€140,956 | -36.2% |
| Fixed assets | 21/28 | €242,594 | €225,988 | -€16,606 | -6.8% |
| Tangible fixed assets | 22/27 | €242,594 | €225,988 | -€16,606 | -6.8% |
| Land and buildings | 22 | €232,951 | €217,815 | -€15,136 | -6.5% |
| Plant, machinery and equipment | 23 | €3,894 | €3,245 | -€649 | -16.7% |
| Furniture and vehicles | 24 | €5,750 | €4,928 | -€821 | -14.3% |
| Current assets | 29/58 | €147,134 | €22,784 | -€124,350 | -84.5% |
| Amounts receivable within one year | 40/41 | €12,000 | €6,612 | -€5,388 | -44.9% |
| Trade receivables | 40 | €12,000 | €6,612 | -€5,388 | -44.9% |
| Current investments | 50/53 | - | €614 | +€614 | |
| Cash at bank and in hand | 54/58 | €25,134 | €15,558 | -€9,576 | -38.1% |
| Deferred charges and accrued income | 490/1 | €110,000 | - | -€110,000 | |
| Total equity and liabilities | 10/49 | €389,728 | €248,772 | -€140,956 | -36.2% |
| Equity | 10/15 | €82,317 | €86,315 | +€3,998 | +4.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Capital | 10 | €12,400 | €12,400 | = | 0.0% |
| Issued capital | 100 | €18,600 | €18,600 | = | 0.0% |
| Uncalled capital | 101 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €39,520 | €37,219 | -€2,301 | -5.8% |
| Non-distributable reserves | 130/1 | €400 | €400 | = | 0.0% |
| Legal reserve | 130 | €400 | €400 | = | 0.0% |
| Tax-exempt reserves | 132 | €39,120 | €36,819 | -€2,301 | -5.9% |
| Profit (loss) carried forward | 14 | €30,398 | €36,696 | +€6,299 | +20.7% |
| Provisions and deferred taxes | 16 | €9,780 | €9,205 | -€575 | -5.9% |
| Provisions for liabilities and charges | 160/5 | €9,780 | €9,205 | -€575 | -5.9% |
| Taxes | 161 | €9,780 | €9,205 | -€575 | -5.9% |
| Amounts payable | 17/49 | €297,631 | €153,252 | -€144,379 | -48.5% |
| Amounts payable within one year | 42/48 | €268,391 | €153,252 | -€115,139 | -42.9% |
| Current portion of amounts payable after more than one year | 42 | €4,736 | - | -€4,736 | |
| Trade debts | 44 | €12,925 | €8,351 | -€4,574 | -35.4% |
| Suppliers | 440/4 | €12,925 | €8,351 | -€4,574 | -35.4% |
| Taxes, remuneration and social security | 45 | €10,377 | €26,799 | +€16,421 | +158% |
| Taxes | 450/3 | €8,280 | €26,799 | +€18,518 | +224% |
| Remuneration and social security | 454/9 | €2,097 | - | -€2,097 | |
| Other amounts payable | 47/48 | €240,354 | €118,103 | -€122,251 | -50.9% |
| Accrued charges and deferred income | 492/3 | €29,240 | - | -€29,240 | |
| Remuneration, social security and pensions | 62 | €105,159 | €48,074 | -€57,086 | -54.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,606 | €16,606 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | €130,139 | €71,342 | -€58,796 | -45.2% |
| Operating profit (loss) | 9901 | €7,868 | €6,143 | -€1,725 | -21.9% |
| Financial income | 75/76B | €1,079 | - | -€1,079 | |
| Recurring financial income | 75 | €1,079 | - | -€1,079 | |
| Financial charges | 65/66B | €52 | €620 | +€568 | +1,088% |
| Recurring financial charges | 65 | €52 | €620 | +€568 | +1,088% |
| Profit (loss) for the period before taxes | 9903 | €8,895 | €5,523 | -€3,372 | -37.9% |
| Transfer from deferred taxes | 780 | €575 | €575 | = | 0.0% |
| Income taxes | 67/77 | €2,925 | €2,100 | -€825 | -28.2% |
| Profit (loss) for the period | 9904 | €6,545 | €3,998 | -€2,547 | -38.9% |
| Transfer from tax-exempt reserves | 789 | €2,301 | €2,301 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €8,846 | €6,299 | -€2,547 | -28.8% |
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 13 October 2026 via checked.be.