Lkwadraat: 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.
Lkwadraat
Largest movements
- Cash +€60,807
up €60,807 (+47.7%), from €127,348 to €188,155
mainly Net result for the year (+€77,859) and Other debts (+€72,197)
- Receivables within one year -€22,196
down €22,196 (-99.3%), from €22,361 to €165
of which Trade receivables: -€22,196
- Tangible fixed assets -€10,386
down €10,386 (-35.8%), from €29,000 to €18,613
of which Furniture and vehicles: -€8,896
- Other debts +€72,197
up €72,197 (+157%), from €45,870 to €118,066
- Reserves -€36,008
down €36,008 (-10.0%), from €360,602 to €324,594
- Current portion of long-term debt -€9,854
down €9,854 (-100%), from €9,854 to €0
- Financial income -€2,928
down €2,928 (-63.7%), from €4,597 to €1,669
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €447,208 | €476,976 | +€29,768 | +6.7% |
| Fixed assets | 21/28 | €29,000 | €18,613 | -€10,386 | -35.8% |
| Tangible fixed assets | 22/27 | €29,000 | €18,613 | -€10,386 | -35.8% |
| Plant, machinery and equipment | 23 | €5,154 | €4,466 | -€688 | -13.3% |
| Furniture and vehicles | 24 | €17,155 | €8,260 | -€8,896 | -51.9% |
| Other tangible fixed assets | 26 | €6,691 | €5,888 | -€803 | -12.0% |
| Current assets | 29/58 | €418,208 | €458,362 | +€40,154 | +9.6% |
| Amounts receivable within one year | 40/41 | €22,361 | €165 | -€22,196 | -99.3% |
| Trade receivables | 40 | €22,361 | €165 | -€22,196 | -99.3% |
| Other amounts receivable | 41 | €0 | - | = | |
| Current investments | 50/53 | €266,685 | €267,853 | +€1,168 | +0.4% |
| Cash at bank and in hand | 54/58 | €127,348 | €188,155 | +€60,807 | +47.7% |
| Deferred charges and accrued income | 490/1 | €1,814 | €2,189 | +€375 | +20.7% |
| Total equity and liabilities | 10/49 | €447,208 | €476,976 | +€29,768 | +6.7% |
| Equity | 10/15 | €373,071 | €336,994 | -€36,077 | -9.7% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €360,602 | €324,594 | -€36,008 | -10.0% |
| Distributable reserves | 133 | €360,602 | €324,594 | -€36,008 | -10.0% |
| Profit (loss) carried forward | 14 | €70 | €0 | -€70 | -100% |
| Amounts payable | 17/49 | €74,137 | €139,982 | +€65,845 | +88.8% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €74,137 | €139,982 | +€65,845 | +88.8% |
| Current portion of amounts payable after more than one year | 42 | €9,854 | €0 | -€9,854 | -100% |
| Trade debts | 44 | €1,267 | €1,586 | +€319 | +25.1% |
| Suppliers | 440/4 | €1,267 | €1,586 | +€319 | +25.1% |
| Taxes, remuneration and social security | 45 | €17,146 | €20,329 | +€3,184 | +18.6% |
| Taxes | 450/3 | €17,146 | €20,329 | +€3,184 | +18.6% |
| Other amounts payable | 47/48 | €45,870 | €118,066 | +€72,197 | +157% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,560 | €11,461 | -€1,098 | -8.7% |
| Other operating charges | 640/8 | €1,036 | €1,070 | +€34 | +3.3% |
| Gross operating margin | 9900 | €121,669 | €122,114 | +€445 | +0.4% |
| Operating profit (loss) | 9901 | €108,074 | €109,583 | +€1,509 | +1.4% |
| Financial income | 75/76B | €4,597 | €1,669 | -€2,928 | -63.7% |
| Recurring financial income | 75 | €4,597 | €1,669 | -€2,928 | -63.7% |
| Financial charges | 65/66B | €497 | €351 | -€145 | -29.3% |
| Recurring financial charges | 65 | €497 | €351 | -€145 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €112,174 | €110,900 | -€1,273 | -1.1% |
| Income taxes | 67/77 | €32,446 | €33,041 | +€595 | +1.8% |
| Profit (loss) for the period | 9904 | €79,727 | €77,859 | -€1,868 | -2.3% |
| Profit (loss) for the period to be appropriated | 9905 | €79,727 | €77,859 | -€1,868 | -2.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.