LL D&E: 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.
LL D&E
Largest movements
- Receivables within one year +€113,917
up €113,917 (+440%), from €25,881 to €139,798
of which Trade receivables: +€64,497
- Cash -€6,946
down €6,946 (-100%), from €6,946 to €0
mainly Receivables within one year (-€113,917) and Investment in fixed assets (net) (-€6,702)
- Tangible fixed assets +€2,290
up €2,290 (+28.3%), from €8,096 to €10,386
of which Plant, machinery and equipment: +€2,851
- Reserves +€63,307
up €63,307 (+252%), from €25,106 to €88,413
- Tax, wage and social debts +€28,121
up €28,121 (+282%), from €9,983 to €38,104
- Trade debts +€13,859
up €13,859 (+483%), from €2,867 to €16,725
- Short-term financial debts +€4,942
new in 2025: €4,942
- Gross operating margin +€50,982
up €50,982 (+143%), from €35,633 to €86,616
- Taxes +€9,935
up €9,935 (+128%), from €7,756 to €17,692
- Depreciation +€2,935
up €2,935 (+199%), from €1,478 to €4,412
- Financial charges +€2,265
up €2,265 (+505%), from €448 to €2,713
- Financial income +€1,703
up €1,703 (+316%), from €538 to €2,241
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 | €40,923 | €150,184 | +€109,261 | +267% |
| Fixed assets | 21/28 | €8,096 | €10,386 | +€2,290 | +28.3% |
| Tangible fixed assets | 22/27 | €8,096 | €10,386 | +€2,290 | +28.3% |
| Plant, machinery and equipment | 23 | €5,769 | €8,621 | +€2,851 | +49.4% |
| Furniture and vehicles | 24 | €2,327 | €1,765 | -€562 | -24.1% |
| Current assets | 29/58 | €32,827 | €139,798 | +€106,971 | +326% |
| Amounts receivable within one year | 40/41 | €25,881 | €139,798 | +€113,917 | +440% |
| Trade receivables | 40 | €9,381 | €73,878 | +€64,497 | +688% |
| Other amounts receivable | 41 | €16,500 | €65,921 | +€49,421 | +300% |
| Cash at bank and in hand | 54/58 | €6,946 | €0 | -€6,946 | -100% |
| Total equity and liabilities | 10/49 | €40,923 | €150,184 | +€109,261 | +267% |
| Equity | 10/15 | €27,106 | €90,413 | +€63,307 | +234% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €25,106 | €88,413 | +€63,307 | +252% |
| Distributable reserves | 133 | €25,106 | €88,413 | +€63,307 | +252% |
| Amounts payable | 17/49 | €13,818 | €59,771 | +€45,954 | +333% |
| Amounts payable within one year | 42/48 | €13,491 | €59,771 | +€46,280 | +343% |
| Financial debts | 43 | - | €4,942 | +€4,942 | |
| Credit institutions | 430/8 | - | €4,942 | +€4,942 | |
| Trade debts | 44 | €2,867 | €16,725 | +€13,859 | +483% |
| Suppliers | 440/4 | €2,867 | €16,725 | +€13,859 | +483% |
| Taxes, remuneration and social security | 45 | €9,983 | €38,104 | +€28,121 | +282% |
| Taxes | 450/3 | €9,983 | €38,104 | +€28,121 | +282% |
| Other amounts payable | 47/48 | €641 | €0 | -€641 | -100% |
| Accrued charges and deferred income | 492/3 | €326 | €0 | -€326 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,478 | €4,412 | +€2,935 | +199% |
| Other operating charges | 640/8 | €1,384 | €733 | -€651 | -47.1% |
| Gross operating margin | 9900 | €35,633 | €86,616 | +€50,982 | +143% |
| Operating profit (loss) | 9901 | €32,772 | €81,471 | +€48,699 | +149% |
| Financial income | 75/76B | €538 | €2,241 | +€1,703 | +316% |
| Recurring financial income | 75 | €538 | €2,241 | +€1,703 | +316% |
| Financial charges | 65/66B | €448 | €2,713 | +€2,265 | +505% |
| Recurring financial charges | 65 | €448 | €2,713 | +€2,265 | +505% |
| Profit (loss) for the period before taxes | 9903 | €32,862 | €80,999 | +€48,137 | +146% |
| Income taxes | 67/77 | €7,756 | €17,692 | +€9,935 | +128% |
| Profit (loss) for the period | 9904 | €25,106 | €63,307 | +€38,201 | +152% |
| Profit (loss) for the period to be appropriated | 9905 | €25,106 | €63,307 | +€38,201 | +152% |
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 20 October 2026 via checked.be.