LKO: 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.
LKO
Largest movements
- Cash -€47,194
down €47,194 (-66.7%), from €70,763 to €23,569
mainly Net result for the year (-€77,258) and Receivables within one year (-€29,178)
- Receivables within one year +€29,178
up €29,178 (+161%), from €18,166 to €47,344
of which Trade receivables: +€22,678
- Stocks and contracts +€7,135
up €7,135 (+92.2%), from €7,735 to €14,870
- Financial fixed assets -€4,825
down €4,825 (-100%), from €4,825 to €0
- Tangible fixed assets -€3,129
down €3,129 (-57.5%), from €5,444 to €2,316
- Tax, wage and social debts +€77,952
up €77,952 (+162%), from €48,131 to €126,083
of which Taxes: +€53,279
- Profit (loss) carried forward -€77,258
down €77,258 (-245%), from -€31,487 to -€108,746
- Trade debts -€11,507
down €11,507 (-71.7%), from €16,038 to €4,531
- Other debts -€8,022
down €8,022 (-14.4%), from €55,702 to €47,680
- Staff costs +€189,894
up €189,894 (+79.3%), from €239,491 to €429,386
- Taxes +€33,646
up €33,646 (+16,470%), from €204 to €33,850
- Gross operating margin +€30,575
up €30,575 (+8.5%), from €358,483 to €389,058
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 | €106,934 | €88,099 | -€18,835 | -17.6% |
| Fixed assets | 21/28 | €10,269 | €2,316 | -€7,954 | -77.5% |
| Tangible fixed assets | 22/27 | €5,444 | €2,316 | -€3,129 | -57.5% |
| Land and buildings | 22 | €602 | €270 | -€332 | -55.2% |
| Plant, machinery and equipment | 23 | €1,091 | €354 | -€738 | -67.6% |
| Furniture and vehicles | 24 | €2,809 | €1,272 | -€1,536 | -54.7% |
| Other tangible fixed assets | 26 | €942 | €420 | -€523 | -55.5% |
| Financial fixed assets | 28 | €4,825 | €0 | -€4,825 | -100% |
| Current assets | 29/58 | €96,664 | €85,783 | -€10,881 | -11.3% |
| Stocks and contracts in progress | 3 | €7,735 | €14,870 | +€7,135 | +92.2% |
| Stocks | 30/36 | €7,735 | €14,870 | +€7,135 | +92.2% |
| Amounts receivable within one year | 40/41 | €18,166 | €47,344 | +€29,178 | +161% |
| Trade receivables | 40 | €18,166 | €40,844 | +€22,678 | +125% |
| Other amounts receivable | 41 | - | €6,500 | +€6,500 | |
| Cash at bank and in hand | 54/58 | €70,763 | €23,569 | -€47,194 | -66.7% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €106,934 | €88,099 | -€18,835 | -17.6% |
| Equity | 10/15 | -€12,937 | -€90,196 | -€77,258 | -597% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€31,487 | -€108,746 | -€77,258 | -245% |
| Amounts payable | 17/49 | €119,871 | €178,294 | +€58,423 | +48.7% |
| Amounts payable within one year | 42/48 | €119,871 | €178,294 | +€58,423 | +48.7% |
| Trade debts | 44 | €16,038 | €4,531 | -€11,507 | -71.7% |
| Suppliers | 440/4 | €16,038 | €4,531 | -€11,507 | -71.7% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €48,131 | €126,083 | +€77,952 | +162% |
| Taxes | 450/3 | €20,220 | €73,499 | +€53,279 | +263% |
| Remuneration and social security | 454/9 | €27,912 | €52,584 | +€24,673 | +88.4% |
| Other amounts payable | 47/48 | €55,702 | €47,680 | -€8,022 | -14.4% |
| Remuneration, social security and pensions | 62 | €239,491 | €429,386 | +€189,894 | +79.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,129 | €3,129 | -€0 | 0.0% |
| Other operating charges | 640/8 | €3,301 | €0 | -€3,301 | -100% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €358,483 | €389,058 | +€30,575 | +8.5% |
| Operating profit (loss) | 9901 | €112,562 | -€43,456 | -€156,018 | |
| Financial income | 75/76B | €67 | €13 | -€54 | -81.3% |
| Recurring financial income | 75 | €67 | €13 | -€54 | -81.3% |
| Financial charges | 65/66B | €1,136 | -€36 | -€1,172 | |
| Recurring financial charges | 65 | €1,136 | -€36 | -€1,172 | |
| Profit (loss) for the period before taxes | 9903 | €111,493 | -€43,408 | -€154,900 | |
| Income taxes | 67/77 | €204 | €33,850 | +€33,646 | +16,470% |
| Profit (loss) for the period | 9904 | €111,288 | -€77,258 | -€188,546 | |
| Profit (loss) for the period to be appropriated | 9905 | €111,288 | -€77,258 | -€188,546 |
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 17 October 2026 via checked.be.