LNF: 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.
LNF
Largest movements
- Tangible fixed assets -€38,178
down €38,178 (-6.8%), from €561,475 to €523,296
of which Land and buildings: -€37,640
- Receivables within one year +€31,341
up €31,341 (+89.4%), from €35,064 to €66,404
of which Trade receivables: +€29,408
- Cash -€21,702
down €21,702 (-35.0%), from €62,063 to €40,361
mainly Other debts (-€32,600) and Receivables within one year (-€31,341)
- Other debts -€32,600
down €32,600 (-7.1%), from €456,185 to €423,584
- Trade debts +€22,098
up €22,098 (+563%), from €3,922 to €26,020
- Gross operating margin -€18,994
down €18,994 (-22.4%), from €84,909 to €65,915
- Taxes -€4,009
down €4,009 (-57.2%), from €7,013 to €3,004
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 | €1,920,611 | €1,903,487 | -€17,123 | -0.9% |
| Fixed assets | 21/28 | €1,820,785 | €1,782,606 | -€38,178 | -2.1% |
| Tangible fixed assets | 22/27 | €561,475 | €523,296 | -€38,178 | -6.8% |
| Land and buildings | 22 | €559,953 | €522,313 | -€37,640 | -6.7% |
| Furniture and vehicles | 24 | €1,522 | €983 | -€539 | -35.4% |
| Financial fixed assets | 28 | €1,259,310 | €1,259,310 | = | 0.0% |
| Current assets | 29/58 | €99,826 | €120,881 | +€21,055 | +21.1% |
| Stocks and contracts in progress | 3 | - | €11,357 | +€11,357 | |
| Contracts in progress | 37 | - | €11,357 | +€11,357 | |
| Amounts receivable within one year | 40/41 | €35,064 | €66,404 | +€31,341 | +89.4% |
| Trade receivables | 40 | €35,000 | €64,408 | +€29,408 | +84.0% |
| Other amounts receivable | 41 | €64 | €1,996 | +€1,932 | +3,029% |
| Cash at bank and in hand | 54/58 | €62,063 | €40,361 | -€21,702 | -35.0% |
| Deferred charges and accrued income | 490/1 | €2,700 | €2,759 | +€59 | +2.2% |
| Total equity and liabilities | 10/49 | €1,920,611 | €1,903,487 | -€17,123 | -0.9% |
| Equity | 10/15 | €1,349,791 | €1,359,433 | +€9,642 | +0.7% |
| Contributions | 10/11 | €537,600 | €537,600 | = | 0.0% |
| Reserves | 13 | €243,847 | €243,847 | = | 0.0% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €107,347 | €107,347 | = | 0.0% |
| Distributable reserves | 133 | €136,500 | €136,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €568,344 | €577,986 | +€9,642 | +1.7% |
| Provisions and deferred taxes | 16 | €77,908 | €77,908 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €77,908 | €77,908 | = | 0.0% |
| Pensions and similar obligations | 160 | €77,908 | €77,908 | = | 0.0% |
| Amounts payable | 17/49 | €492,912 | €466,146 | -€26,765 | -5.4% |
| Amounts payable after more than one year | 17 | €10,834 | €0 | -€10,834 | -100% |
| Financial debts | 170/4 | €10,834 | €0 | -€10,834 | -100% |
| Amounts payable within one year | 42/48 | €482,078 | €466,123 | -€15,955 | -3.3% |
| Current portion of amounts payable after more than one year | 42 | €13,000 | €10,834 | -€2,166 | -16.7% |
| Trade debts | 44 | €3,922 | €26,020 | +€22,098 | +563% |
| Suppliers | 440/4 | €3,922 | €26,020 | +€22,098 | +563% |
| Taxes, remuneration and social security | 45 | €8,971 | €5,685 | -€3,286 | -36.6% |
| Taxes | 450/3 | €8,971 | €5,685 | -€3,286 | -36.6% |
| Other amounts payable | 47/48 | €456,185 | €423,584 | -€32,600 | -7.1% |
| Accrued charges and deferred income | 492/3 | - | €24 | +€24 | |
| Non-recurring operating income | 76A | €11,819 | €0 | -€11,819 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,178 | €38,178 | = | 0.0% |
| Other operating charges | 640/8 | €6,140 | €5,566 | -€575 | -9.4% |
| Gross operating margin | 9900 | €84,909 | €65,915 | -€18,994 | -22.4% |
| Operating profit (loss) | 9901 | €40,590 | €22,171 | -€18,419 | -45.4% |
| Financial income | 75/76B | €0 | €54 | +€54 | |
| Recurring financial income | 75 | €0 | €54 | +€54 | |
| Financial charges | 65/66B | €8,821 | €9,579 | +€758 | +8.6% |
| Recurring financial charges | 65 | €8,821 | €9,579 | +€758 | +8.6% |
| Profit (loss) for the period before taxes | 9903 | €31,770 | €12,646 | -€19,123 | -60.2% |
| Income taxes | 67/77 | €7,013 | €3,004 | -€4,009 | -57.2% |
| Profit (loss) for the period | 9904 | €24,757 | €9,642 | -€15,115 | -61.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,757 | €9,642 | -€15,115 | -61.1% |
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 31 October 2026 via checked.be.