LKDE: 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.
LKDE
Largest movements
- Receivables within one year +€47,332
up €47,332 (+66.5%), from €71,129 to €118,460
of which Trade receivables: +€43,018
- Tangible fixed assets -€32,290
down €32,290 (-24.4%), from €132,569 to €100,279
- Cash -€10,950
down €10,950 (-97.0%), from €11,283 to €334
mainly Receivables within one year (-€47,332) and Tax, wage and social debts (-€10,390)
- Trade debts +€17,243
up €17,243 (+77.9%), from €22,140 to €39,383
of which Suppliers: +€17,243
- Other debts +€10,623
up €10,623 (+29.2%), from €36,327 to €46,950
- Tax, wage and social debts -€10,390
down €10,390 (-25.6%), from €40,527 to €30,137
of which Taxes: -€6,845
- Debts after one year -€7,809
down €7,809 (-9.6%), from €81,165 to €73,357
- Current portion of long-term debt -€3,433
down €3,433 (-23.5%), from €14,610 to €11,177
- Gross operating margin -€51,216
down €51,216 (-32.8%), from €156,268 to €105,051
- Staff costs -€37,531
down €37,531 (-38.3%), from €97,883 to €60,352
- Taxes -€4,352
down €4,352 (-50.4%), from €8,634 to €4,281
- Depreciation -€3,446
down €3,446 (-12.2%), from €28,280 to €24,834
- Other operating charges +€2,993
up €2,993 (+65.9%), from €4,542 to €7,536
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 | €234,279 | €239,543 | +€5,264 | +2.2% |
| Fixed assets | 21/28 | €134,939 | €102,649 | -€32,290 | -23.9% |
| Tangible fixed assets | 22/27 | €132,569 | €100,279 | -€32,290 | -24.4% |
| Land and buildings | 22 | €89,972 | €80,818 | -€9,154 | -10.2% |
| Plant, machinery and equipment | 23 | €10,832 | €3,093 | -€7,739 | -71.4% |
| Furniture and vehicles | 24 | €16,791 | €3,304 | -€13,487 | -80.3% |
| Other tangible fixed assets | 26 | €14,974 | €13,064 | -€1,910 | -12.8% |
| Financial fixed assets | 28 | €2,370 | €2,370 | = | 0.0% |
| Current assets | 29/58 | €99,341 | €136,894 | +€37,554 | +37.8% |
| Amounts receivable within one year | 40/41 | €71,129 | €118,460 | +€47,332 | +66.5% |
| Trade receivables | 40 | €68,329 | €111,347 | +€43,018 | +63.0% |
| Other amounts receivable | 41 | €2,800 | €7,114 | +€4,314 | +154.1% |
| Cash at bank and in hand | 54/58 | €11,283 | €334 | -€10,950 | -97.0% |
| Deferred charges and accrued income | 490/1 | €16,929 | €18,100 | +€1,171 | +6.9% |
| Total equity and liabilities | 10/49 | €234,279 | €239,543 | +€5,264 | +2.2% |
| Equity | 10/15 | €39,509 | €38,372 | -€1,137 | -2.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €32,035 | €32,035 | = | 0.0% |
| Distributable reserves | 133 | €32,035 | €32,035 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,474 | €1,337 | -€1,137 | -45.9% |
| Amounts payable | 17/49 | €194,770 | €201,171 | +€6,401 | +3.3% |
| Amounts payable after more than one year | 17 | €81,165 | €73,357 | -€7,809 | -9.6% |
| Financial debts | 170/4 | €81,165 | €73,357 | -€7,809 | -9.6% |
| Amounts payable within one year | 42/48 | €113,605 | €127,647 | +€14,042 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €14,610 | €11,177 | -€3,433 | -23.5% |
| Trade debts | 44 | €22,140 | €39,383 | +€17,243 | +77.9% |
| Suppliers | 440/4 | €22,140 | €39,383 | +€17,243 | +77.9% |
| Bills of exchange payable | 441 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €40,527 | €30,137 | -€10,390 | -25.6% |
| Taxes | 450/3 | €25,914 | €19,070 | -€6,845 | -26.4% |
| Remuneration and social security | 454/9 | €14,613 | €11,067 | -€3,545 | -24.3% |
| Other amounts payable | 47/48 | €36,327 | €46,950 | +€10,623 | +29.2% |
| Accrued charges and deferred income | 492/3 | - | €167 | +€167 | |
| Remuneration, social security and pensions | 62 | €97,883 | €60,352 | -€37,531 | -38.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,280 | €24,834 | -€3,446 | -12.2% |
| Other operating charges | 640/8 | €4,542 | €7,536 | +€2,993 | +65.9% |
| Non-recurring operating charges | 66A | - | €5,278 | +€5,278 | |
| Gross operating margin | 9900 | €156,268 | €105,051 | -€51,216 | -32.8% |
| Operating profit (loss) | 9901 | €25,562 | €7,051 | -€18,512 | -72.4% |
| Financial income | 75/76B | €1 | €1,337 | +€1,336 | +109475.4% |
| Recurring financial income | 75 | €1 | €1,337 | +€1,336 | +109475.4% |
| Financial charges | 65/66B | €2,882 | €5,243 | +€2,361 | +81.9% |
| Recurring financial charges | 65 | €2,882 | €5,243 | +€2,361 | +81.9% |
| Profit (loss) for the period before taxes | 9903 | €22,681 | €3,144 | -€19,537 | -86.1% |
| Income taxes | 67/77 | €8,634 | €4,281 | -€4,352 | -50.4% |
| Profit (loss) for the period | 9904 | €14,047 | -€1,137 | -€15,184 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,047 | -€1,137 | -€15,184 |
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 4 October 2026 via checked.be.