LN-SQUARED: 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.
LN-SQUARED
Largest movements
- Tangible fixed assets -€11,336
down €11,336 (-36.6%), from €30,987 to €19,651
of which Furniture and vehicles: -€10,945
- Receivables within one year +€6,833
up €6,833 (+427%), from €1,600 to €8,433
of which Trade receivables: +€3,933
- Cash -€3,622
down €3,622 (-55.3%), from €6,547 to €2,925
mainly Net result for the year (-€32,056) and Receivables within one year (-€6,833)
- Profit (loss) carried forward -€32,057
down €32,057, from €7,756 to -€24,301
- Other debts +€30,661
up €30,661 (+5,636%), from €544 to €31,205
- Current portion of long-term debt -€5,883
down €5,883 (-58.9%), from €9,991 to €4,108
- Debts after one year -€4,108
down €4,108 (-33.7%), from €12,185 to €8,077
- Short-term financial debts +€1,694
new in 2025: €1,694
- Financial charges +€19,011
up €19,011 (+108%), from €17,655 to €36,666
- Gross operating margin +€5,855
up €5,855 (+51.4%), from €11,382 to €17,237
- Depreciation +€1,470
up €1,470 (+14.9%), from €9,867 to €11,337
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 | €42,803 | €34,465 | -€8,338 | -19.5% |
| Fixed assets | 21/28 | €30,987 | €19,651 | -€11,336 | -36.6% |
| Tangible fixed assets | 22/27 | €30,987 | €19,651 | -€11,336 | -36.6% |
| Land and buildings | 22 | €5,385 | €4,994 | -€391 | -7.3% |
| Furniture and vehicles | 24 | €25,602 | €14,657 | -€10,945 | -42.8% |
| Current assets | 29/58 | €11,816 | €14,814 | +€2,998 | +25.4% |
| Amounts receivable within one year | 40/41 | €1,600 | €8,433 | +€6,833 | +427% |
| Trade receivables | 40 | - | €3,933 | +€3,933 | |
| Other amounts receivable | 41 | €1,600 | €4,500 | +€2,900 | +181% |
| Cash at bank and in hand | 54/58 | €6,547 | €2,925 | -€3,622 | -55.3% |
| Deferred charges and accrued income | 490/1 | €3,669 | €3,457 | -€212 | -5.8% |
| Total equity and liabilities | 10/49 | €42,803 | €34,465 | -€8,338 | -19.5% |
| Equity | 10/15 | €16,316 | -€15,741 | -€32,057 | |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €500 | €500 | +€0 | 0.0% |
| Distributable reserves | 133 | €500 | €500 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | €7,756 | -€24,301 | -€32,057 | |
| Amounts payable | 17/49 | €26,487 | €50,205 | +€23,718 | +89.5% |
| Amounts payable after more than one year | 17 | €12,185 | €8,077 | -€4,108 | -33.7% |
| Financial debts | 170/4 | €12,185 | €8,077 | -€4,108 | -33.7% |
| Amounts payable within one year | 42/48 | €14,302 | €42,128 | +€27,826 | +195% |
| Current portion of amounts payable after more than one year | 42 | €9,991 | €4,108 | -€5,883 | -58.9% |
| Financial debts | 43 | - | €1,694 | +€1,694 | |
| Credit institutions | 430/8 | - | €1,694 | +€1,694 | |
| Trade debts | 44 | €1,863 | €2,145 | +€282 | +15.1% |
| Suppliers | 440/4 | €1,863 | €2,145 | +€282 | +15.1% |
| Taxes, remuneration and social security | 45 | €1,904 | €2,975 | +€1,071 | +56.3% |
| Taxes | 450/3 | €1,904 | €2,975 | +€1,071 | +56.3% |
| Other amounts payable | 47/48 | €544 | €31,205 | +€30,661 | +5,636% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,867 | €11,337 | +€1,470 | +14.9% |
| Other operating charges | 640/8 | €690 | €821 | +€131 | +18.9% |
| Gross operating margin | 9900 | €11,382 | €17,237 | +€5,855 | +51.4% |
| Operating profit (loss) | 9901 | €825 | €5,079 | +€4,254 | +516% |
| Financial charges | 65/66B | €17,655 | €36,666 | +€19,011 | +108% |
| Recurring financial charges | 65 | €17,655 | €36,666 | +€19,011 | +108% |
| Profit (loss) for the period before taxes | 9903 | -€16,830 | -€31,587 | -€14,757 | -87.7% |
| Income taxes | 67/77 | €522 | €469 | -€53 | -10.1% |
| Profit (loss) for the period | 9904 | -€17,352 | -€32,056 | -€14,704 | -84.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€17,352 | -€32,056 | -€14,704 | -84.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.