LKW: 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.
LKW
Largest movements
- Tangible fixed assets +€408,321
up €408,321 (+2557.8%), from €15,964 to €424,285
of which Leasing and similar rights: +€339,034
- Receivables within one year +€38,915
up €38,915 (+20.4%), from €190,510 to €229,425
of which Other amounts receivable: +€36,607
- Cash +€14,515
up €14,515 (+63.9%), from €22,723 to €37,239
mainly Debts after one year (+€280,460) and Net result for the year (+€129,532)
- Debts after one year +€280,460
new in 2025: €280,460
- Profit (loss) carried forward +€129,532
up €129,532 (+222.9%), from €58,110 to €187,642
- Current portion of long-term debt +€38,242
new in 2025: €38,242
- Tax, wage and social debts +€18,254
up €18,254 (+23.2%), from €78,559 to €96,813
of which Taxes: +€43,982
- Other debts -€10,463
down €10,463 (-59.2%), from €17,683 to €7,219
- Gross operating margin +€253,930
up €253,930 (+50.9%), from €499,100 to €753,030
- Staff costs +€116,705
up €116,705 (+28.8%), from €405,397 to €522,101
- Taxes +€30,602
up €30,602 (+211.3%), from €14,483 to €45,084
- Depreciation +€24,459
up €24,459 (+165.8%), from €14,749 to €39,208
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 | €233,173 | €696,099 | +€462,926 | +198.5% |
| Fixed assets | 21/28 | €19,939 | €428,260 | +€408,321 | +2047.8% |
| Tangible fixed assets | 22/27 | €15,964 | €424,285 | +€408,321 | +2557.8% |
| Plant, machinery and equipment | 23 | €11,633 | €72,881 | +€61,248 | +526.5% |
| Furniture and vehicles | 24 | €4,331 | €12,370 | +€8,039 | +185.6% |
| Leasing and similar rights | 25 | - | €339,034 | +€339,034 | |
| Financial fixed assets | 28 | €3,975 | €3,975 | = | 0.0% |
| Current assets | 29/58 | €213,234 | €267,838 | +€54,605 | +25.6% |
| Amounts receivable within one year | 40/41 | €190,510 | €229,425 | +€38,915 | +20.4% |
| Trade receivables | 40 | €178,034 | €180,341 | +€2,307 | +1.3% |
| Other amounts receivable | 41 | €12,477 | €49,084 | +€36,607 | +293.4% |
| Cash at bank and in hand | 54/58 | €22,723 | €37,239 | +€14,515 | +63.9% |
| Deferred charges and accrued income | 490/1 | - | €1,175 | +€1,175 | |
| Total equity and liabilities | 10/49 | €233,173 | €696,099 | +€462,926 | +198.5% |
| Equity | 10/15 | €63,110 | €192,642 | +€129,532 | +205.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €58,110 | €187,642 | +€129,532 | +222.9% |
| Amounts payable | 17/49 | €170,063 | €503,456 | +€333,394 | +196.0% |
| Amounts payable after more than one year | 17 | - | €280,460 | +€280,460 | |
| Financial debts | 170/4 | - | €280,460 | +€280,460 | |
| Amounts payable within one year | 42/48 | €170,063 | €222,997 | +€52,934 | +31.1% |
| Current portion of amounts payable after more than one year | 42 | - | €38,242 | +€38,242 | |
| Trade debts | 44 | €73,821 | €80,722 | +€6,901 | +9.3% |
| Suppliers | 440/4 | €73,821 | €80,722 | +€6,901 | +9.3% |
| Taxes, remuneration and social security | 45 | €78,559 | €96,813 | +€18,254 | +23.2% |
| Taxes | 450/3 | €20,648 | €64,630 | +€43,982 | +213.0% |
| Remuneration and social security | 454/9 | €57,911 | €32,183 | -€25,728 | -44.4% |
| Other amounts payable | 47/48 | €17,683 | €7,219 | -€10,463 | -59.2% |
| Remuneration, social security and pensions | 62 | €405,397 | €522,101 | +€116,705 | +28.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,749 | €39,208 | +€24,459 | +165.8% |
| Other operating charges | 640/8 | €2,193 | €9,066 | +€6,873 | +313.3% |
| Non-recurring operating charges | 66A | - | €2,400 | +€2,400 | |
| Gross operating margin | 9900 | €499,100 | €753,030 | +€253,930 | +50.9% |
| Operating profit (loss) | 9901 | €76,761 | €180,255 | +€103,493 | +134.8% |
| Financial income | 75/76B | €0 | €33 | +€33 | +165100.0% |
| Recurring financial income | 75 | €0 | €33 | +€33 | +165100.0% |
| Financial charges | 65/66B | €1,737 | €5,671 | +€3,935 | +226.6% |
| Recurring financial charges | 65 | €1,737 | €5,671 | +€3,935 | +226.6% |
| Profit (loss) for the period before taxes | 9903 | €75,024 | €174,616 | +€99,592 | +132.7% |
| Income taxes | 67/77 | €14,483 | €45,084 | +€30,602 | +211.3% |
| Profit (loss) for the period | 9904 | €60,542 | €129,532 | +€68,990 | +114.0% |
| Profit (loss) for the period to be appropriated | 9905 | €60,542 | €129,532 | +€68,990 | +114.0% |
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 9 October 2026 via checked.be.