LNH: 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.
LNH
Largest movements
- Receivables within one year +€229,051
up €229,051 (+51.3%), from €446,297 to €675,348
of which Trade receivables: +€252,279
- Stocks and contracts -€195,618
down €195,618 (-22.5%), from €868,521 to €672,903
- Tangible fixed assets -€194,385
down €194,385 (-7.8%), from €2.5m to €2.3m
of which Land and buildings: -€180,235
- Debts after one year -€204,666
down €204,666 (-11.1%), from €1.8m to €1.6m
- Tax, wage and social debts +€111,311
up €111,311 (+282.3%), from €39,430 to €150,741
of which Taxes: +€77,559
- Current portion of long-term debt -€94,991
down €94,991 (-14.2%), from €671,264 to €576,274
- Profit (loss) carried forward +€52,184
up €52,184 (+4.5%), from €1.2m to €1.2m
- Other debts +€48,151
up €48,151 (+12.0%), from €400,659 to €448,810
- Gross operating margin +€168,559
up €168,559 (+19.4%), from €869,488 to €1.0m
- Staff costs +€106,320
up €106,320 (+20.8%), from €510,086 to €616,405
- Other operating charges +€15,738
up €15,738 (+108.5%), from €14,511 to €30,249
- Taxes +€12,471
up €12,471 (+97.6%), from €12,784 to €25,255
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 | €4,626,057 | €4,484,826 | -€141,231 | -3.1% |
| Fixed assets | 21/28 | €2,511,175 | €2,316,043 | -€195,132 | -7.8% |
| Intangible fixed assets | 21 | €747 | - | -€747 | |
| Tangible fixed assets | 22/27 | €2,507,134 | €2,312,749 | -€194,385 | -7.8% |
| Land and buildings | 22 | €2,455,872 | €2,275,637 | -€180,235 | -7.3% |
| Plant, machinery and equipment | 23 | €21,534 | €17,869 | -€3,665 | -17.0% |
| Furniture and vehicles | 24 | €28,746 | €17,313 | -€11,433 | -39.8% |
| Other tangible fixed assets | 26 | €982 | €1,930 | +€948 | +96.5% |
| Financial fixed assets | 28 | €3,294 | €3,294 | = | 0.0% |
| Current assets | 29/58 | €2,114,882 | €2,168,783 | +€53,901 | +2.5% |
| Stocks and contracts in progress | 3 | €868,521 | €672,903 | -€195,618 | -22.5% |
| Stocks | 30/36 | €868,521 | €672,903 | -€195,618 | -22.5% |
| Amounts receivable within one year | 40/41 | €446,297 | €675,348 | +€229,051 | +51.3% |
| Trade receivables | 40 | €364,815 | €617,093 | +€252,279 | +69.2% |
| Other amounts receivable | 41 | €81,483 | €58,255 | -€23,227 | -28.5% |
| Cash at bank and in hand | 54/58 | €790,983 | €781,565 | -€9,418 | -1.2% |
| Deferred charges and accrued income | 490/1 | €9,080 | €38,967 | +€29,886 | +329.1% |
| Total equity and liabilities | 10/49 | €4,626,057 | €4,484,826 | -€141,231 | -3.1% |
| Equity | 10/15 | €1,246,792 | €1,298,976 | +€52,184 | +4.2% |
| Contributions | 10/11 | €83,600 | €83,600 | = | 0.0% |
| Reserves | 13 | €11,767 | €11,767 | = | 0.0% |
| Distributable reserves | 133 | €11,767 | €11,767 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,151,425 | €1,203,610 | +€52,184 | +4.5% |
| Amounts payable | 17/49 | €3,379,265 | €3,185,850 | -€193,415 | -5.7% |
| Amounts payable after more than one year | 17 | €1,840,673 | €1,636,007 | -€204,666 | -11.1% |
| Financial debts | 170/4 | €1,840,673 | €1,636,007 | -€204,666 | -11.1% |
| Amounts payable within one year | 42/48 | €1,536,826 | €1,548,077 | +€11,251 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €671,264 | €576,274 | -€94,991 | -14.2% |
| Financial debts | 43 | €47,080 | €36,296 | -€10,784 | -22.9% |
| Credit institutions | 430/8 | €47,080 | €36,296 | -€10,784 | -22.9% |
| Trade debts | 44 | €378,393 | €335,957 | -€42,436 | -11.2% |
| Suppliers | 440/4 | €378,393 | €335,957 | -€42,436 | -11.2% |
| Taxes, remuneration and social security | 45 | €39,430 | €150,741 | +€111,311 | +282.3% |
| Taxes | 450/3 | €3,756 | €81,316 | +€77,559 | +2064.8% |
| Remuneration and social security | 454/9 | €35,674 | €69,426 | +€33,752 | +94.6% |
| Other amounts payable | 47/48 | €400,659 | €448,810 | +€48,151 | +12.0% |
| Accrued charges and deferred income | 492/3 | €1,766 | €1,766 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €510,086 | €616,405 | +€106,320 | +20.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €210,116 | €204,966 | -€5,150 | -2.5% |
| Other operating charges | 640/8 | €14,511 | €30,249 | +€15,738 | +108.5% |
| Gross operating margin | 9900 | €869,488 | €1,038,047 | +€168,559 | +19.4% |
| Operating profit (loss) | 9901 | €134,776 | €186,427 | +€51,651 | +38.3% |
| Financial income | 75/76B | €897 | €2,670 | +€1,772 | +197.5% |
| Recurring financial income | 75 | €897 | €2,670 | +€1,772 | +197.5% |
| Financial charges | 65/66B | €120,881 | €111,657 | -€9,224 | -7.6% |
| Recurring financial charges | 65 | €120,881 | €111,657 | -€9,224 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | €14,792 | €77,440 | +€62,648 | +423.5% |
| Income taxes | 67/77 | €12,784 | €25,255 | +€12,471 | +97.6% |
| Profit (loss) for the period | 9904 | €2,008 | €52,184 | +€50,176 | +2498.7% |
| Profit (loss) for the period to be appropriated | 9905 | €2,008 | €52,184 | +€50,176 | +2498.7% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.