LKJ: 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.
LKJ
Largest movements
- Receivables within one year +€125,192
up €125,192 (+28.4%), from €440,214 to €565,405
of which Trade receivables: +€81,903
- Tangible fixed assets -€43,210
down €43,210 (-6.7%), from €641,583 to €598,372
of which Land and buildings: -€32,686
- Cash -€19,164
down €19,164 (-36.5%), from €52,534 to €33,370
mainly Receivables within one year (-€125,192) and Contributions, distributions and other (-€93,262)
- Reserves +€96,581
up €96,581 (+16.5%), from €584,242 to €680,823
- Debts after one year -€22,254
down €22,254 (-9.5%), from €233,721 to €211,467
- Gross operating margin -€45,567
down €45,567 (-11.7%), from €388,890 to €343,322
- Taxes -€17,042
down €17,042 (-16.7%), from €102,291 to €85,249
- Depreciation +€7,586
up €7,586 (+18.8%), from €40,364 to €47,950
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 | €1,135,483 | €1,201,881 | +€66,398 | +5.8% |
| Fixed assets | 21/28 | €641,873 | €598,662 | -€43,210 | -6.7% |
| Tangible fixed assets | 22/27 | €641,583 | €598,372 | -€43,210 | -6.7% |
| Land and buildings | 22 | €594,667 | €561,982 | -€32,686 | -5.5% |
| Plant, machinery and equipment | 23 | €550 | €206 | -€344 | -62.6% |
| Furniture and vehicles | 24 | €46,365 | €36,185 | -€10,180 | -22.0% |
| Financial fixed assets | 28 | €290 | €290 | = | 0.0% |
| Current assets | 29/58 | €493,611 | €603,219 | +€109,608 | +22.2% |
| Amounts receivable within one year | 40/41 | €440,214 | €565,405 | +€125,192 | +28.4% |
| Trade receivables | 40 | €138,530 | €220,433 | +€81,903 | +59.1% |
| Other amounts receivable | 41 | €301,684 | €344,972 | +€43,288 | +14.3% |
| Cash at bank and in hand | 54/58 | €52,534 | €33,370 | -€19,164 | -36.5% |
| Deferred charges and accrued income | 490/1 | €863 | €4,443 | +€3,581 | +415% |
| Total equity and liabilities | 10/49 | €1,135,483 | €1,201,881 | +€66,398 | +5.8% |
| Equity | 10/15 | €596,642 | €693,223 | +€96,581 | +16.2% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €584,242 | €680,823 | +€96,581 | +16.5% |
| Distributable reserves | 133 | €584,242 | €680,823 | +€96,581 | +16.5% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €538,841 | €508,657 | -€30,184 | -5.6% |
| Amounts payable after more than one year | 17 | €233,721 | €211,467 | -€22,254 | -9.5% |
| Financial debts | 170/4 | €233,721 | €211,467 | -€22,254 | -9.5% |
| Amounts payable within one year | 42/48 | €304,195 | €297,190 | -€7,005 | -2.3% |
| Current portion of amounts payable after more than one year | 42 | €22,057 | €22,254 | +€197 | +0.9% |
| Trade debts | 44 | €548 | €3,979 | +€3,431 | +626% |
| Suppliers | 440/4 | €548 | €3,979 | +€3,431 | +626% |
| Taxes, remuneration and social security | 45 | €3,012 | €3,112 | +€101 | +3.3% |
| Taxes | 450/3 | €3,012 | €3,112 | +€101 | +3.3% |
| Other amounts payable | 47/48 | €278,579 | €267,845 | -€10,734 | -3.9% |
| Accrued charges and deferred income | 492/3 | €925 | €0 | -€925 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €40,364 | €47,950 | +€7,586 | +18.8% |
| Other operating charges | 640/8 | €7,739 | €8,940 | +€1,201 | +15.5% |
| Gross operating margin | 9900 | €388,890 | €343,322 | -€45,567 | -11.7% |
| Operating profit (loss) | 9901 | €340,787 | €286,432 | -€54,355 | -15.9% |
| Financial income | 75/76B | €3,832 | €1,574 | -€2,258 | -58.9% |
| Recurring financial income | 75 | €3,832 | €1,574 | -€2,258 | -58.9% |
| Financial charges | 65/66B | €12,848 | €12,913 | +€65 | +0.5% |
| Recurring financial charges | 65 | €12,848 | €12,913 | +€65 | +0.5% |
| Profit (loss) for the period before taxes | 9903 | €331,771 | €275,093 | -€56,678 | -17.1% |
| Income taxes | 67/77 | €102,291 | €85,249 | -€17,042 | -16.7% |
| Profit (loss) for the period | 9904 | €229,480 | €189,844 | -€39,636 | -17.3% |
| Profit (loss) for the period to be appropriated | 9905 | €229,480 | €189,844 | -€39,636 | -17.3% |
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 14 October 2026 via checked.be.