LLLL: what changed
Two fiscal 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.
LLLL
Largest movements
- Receivables within one year +€182,410
up €182,410 (+2117.9%), from €8,613 to €191,023
of which Other amounts receivable: +€139,430
- Tangible fixed assets +€18,344
up €18,344 (+34.2%), from €53,716 to €72,060
of which Plant, machinery and equipment: +€10,901
- Cash +€17,618
up €17,618 (+16.3%), from €107,988 to €125,606
mainly Net result for the year (+€197,360) and Tax, wage and social debts (+€33,244)
- Reserves +€197,360
up €197,360 (+146.4%), from €134,774 to €332,133
- Tax, wage and social debts +€33,244
up €33,244 (+584.3%), from €5,690 to €38,934
- Other debts -€6,805
down €6,805 (-59.4%), from €11,455 to €4,650
- Trade debts -€4,344
down €4,344 (-35.9%), from €12,089 to €7,745
- Gross operating margin +€160,961
up €160,961 (+131.8%), from €122,079 to €283,041
- Taxes +€42,105
up €42,105 (+160.4%), from €26,244 to €68,348
- Depreciation +€5,147
up €5,147 (+45.5%), from €11,304 to €16,452
- Financial charges -€3,673
down €3,673 (-56.2%), from €6,532 to €2,859
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 | €170,549 | €388,854 | +€218,305 | +128.0% |
| Fixed assets | 21/28 | €53,947 | €72,225 | +€18,278 | +33.9% |
| Intangible fixed assets | 21 | €232 | €165 | -€66 | -28.7% |
| Tangible fixed assets | 22/27 | €53,716 | €72,060 | +€18,344 | +34.2% |
| Plant, machinery and equipment | 23 | €20,896 | €31,797 | +€10,901 | +52.2% |
| Furniture and vehicles | 24 | €3,931 | €13,295 | +€9,363 | +238.2% |
| Other tangible fixed assets | 26 | €28,889 | €26,968 | -€1,920 | -6.6% |
| Current assets | 29/58 | €116,601 | €316,629 | +€200,027 | +171.5% |
| Amounts receivable within one year | 40/41 | €8,613 | €191,023 | +€182,410 | +2117.9% |
| Trade receivables | 40 | €0 | €42,980 | +€42,980 | |
| Other amounts receivable | 41 | €8,613 | €148,043 | +€139,430 | +1618.9% |
| Cash at bank and in hand | 54/58 | €107,988 | €125,606 | +€17,618 | +16.3% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €170,549 | €388,854 | +€218,305 | +128.0% |
| Equity | 10/15 | €139,774 | €337,133 | +€197,360 | +141.2% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €134,774 | €332,133 | +€197,360 | +146.4% |
| Distributable reserves | 133 | €134,774 | €332,133 | +€197,360 | +146.4% |
| Amounts payable | 17/49 | €30,775 | €51,721 | +€20,946 | +68.1% |
| Amounts payable within one year | 42/48 | €30,775 | €51,721 | +€20,946 | +68.1% |
| Financial debts | 43 | €1,541 | €392 | -€1,149 | -74.6% |
| Credit institutions | 430/8 | €1,541 | €392 | -€1,149 | -74.6% |
| Trade debts | 44 | €12,089 | €7,745 | -€4,344 | -35.9% |
| Suppliers | 440/4 | €12,089 | €7,745 | -€4,344 | -35.9% |
| Taxes, remuneration and social security | 45 | €5,690 | €38,934 | +€33,244 | +584.3% |
| Taxes | 450/3 | €5,690 | €38,934 | +€33,244 | +584.3% |
| Other amounts payable | 47/48 | €11,455 | €4,650 | -€6,805 | -59.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,304 | €16,452 | +€5,147 | +45.5% |
| Other operating charges | 640/8 | €497 | €560 | +€64 | +12.8% |
| Gross operating margin | 9900 | €122,079 | €283,041 | +€160,961 | +131.8% |
| Operating profit (loss) | 9901 | €110,278 | €266,029 | +€155,750 | +141.2% |
| Financial income | 75/76B | €264 | €2,538 | +€2,274 | +863.0% |
| Recurring financial income | 75 | €264 | €2,538 | +€2,274 | +863.0% |
| Financial charges | 65/66B | €6,532 | €2,859 | -€3,673 | -56.2% |
| Recurring financial charges | 65 | €6,532 | €2,859 | -€3,673 | -56.2% |
| Profit (loss) for the period before taxes | 9903 | €104,010 | €265,708 | +€161,698 | +155.5% |
| Income taxes | 67/77 | €26,244 | €68,348 | +€42,105 | +160.4% |
| Profit (loss) for the period | 9904 | €77,766 | €197,360 | +€119,593 | +153.8% |
| Profit (loss) for the period to be appropriated | 9905 | €77,766 | €197,360 | +€119,593 | +153.8% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.