LNR: 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.
LNR
Largest movements
- Cash +€193,653
up €193,653 (+182.7%), from €106,000 to €299,652
mainly Current investments (+€175,713) and Net result for the year (+€47,987)
- Current investments -€175,713
down €175,713 (-51.3%), from €342,513 to €166,800
- Receivables within one year +€17,530
up €17,530 (+82.6%), from €21,212 to €38,742
of which Trade receivables: +€12,383
- Other debts +€33,451
up €33,451 (+122.0%), from €27,419 to €60,869
- Reserves +€17,627
up €17,627 (+4.3%), from €409,279 to €426,906
- Tax, wage and social debts -€11,490
down €11,490 (-53.1%), from €21,658 to €10,168
- Gross operating margin -€17,480
down €17,480 (-17.4%), from €100,504 to €83,024
- Taxes -€7,652
down €7,652 (-28.1%), from €27,186 to €19,534
- Financial charges +€7,312
up €7,312 (+211.5%), from €3,457 to €10,769
- Financial income -€1,409
down €1,409 (-50.1%), from €2,811 to €1,403
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 | €477,086 | €516,544 | +€39,458 | +8.3% |
| Fixed assets | 21/28 | €7,114 | €7,103 | -€11 | -0.2% |
| Tangible fixed assets | 22/27 | €7,114 | €7,103 | -€11 | -0.2% |
| Plant, machinery and equipment | 23 | €1,792 | €1,236 | -€556 | -31.0% |
| Furniture and vehicles | 24 | €5,322 | €5,866 | +€545 | +10.2% |
| Current assets | 29/58 | €469,972 | €509,441 | +€39,469 | +8.4% |
| Amounts receivable within one year | 40/41 | €21,212 | €38,742 | +€17,530 | +82.6% |
| Trade receivables | 40 | €21,040 | €33,423 | +€12,383 | +58.9% |
| Other amounts receivable | 41 | €172 | €5,319 | +€5,147 | +2994.5% |
| Current investments | 50/53 | €342,513 | €166,800 | -€175,713 | -51.3% |
| Cash at bank and in hand | 54/58 | €106,000 | €299,652 | +€193,653 | +182.7% |
| Deferred charges and accrued income | 490/1 | €247 | €4,247 | +€4,000 | +1616.8% |
| Total equity and liabilities | 10/49 | €477,086 | €516,544 | +€39,458 | +8.3% |
| Equity | 10/15 | €427,879 | €445,506 | +€17,627 | +4.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €409,279 | €426,906 | +€17,627 | +4.3% |
| Distributable reserves | 133 | €409,279 | €426,906 | +€17,627 | +4.3% |
| Amounts payable | 17/49 | €49,207 | €71,038 | +€21,831 | +44.4% |
| Amounts payable within one year | 42/48 | €49,207 | €71,038 | +€21,831 | +44.4% |
| Trade debts | 44 | €130 | €1 | -€129 | -99.4% |
| Suppliers | 440/4 | €130 | €1 | -€129 | -99.4% |
| Taxes, remuneration and social security | 45 | €21,658 | €10,168 | -€11,490 | -53.1% |
| Taxes | 450/3 | €21,658 | €10,168 | -€11,490 | -53.1% |
| Other amounts payable | 47/48 | €27,419 | €60,869 | +€33,451 | +122.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,021 | €3,341 | +€319 | +10.6% |
| Other operating charges | 640/8 | €2,878 | €2,795 | -€83 | -2.9% |
| Gross operating margin | 9900 | €100,504 | €83,024 | -€17,480 | -17.4% |
| Operating profit (loss) | 9901 | €94,604 | €76,888 | -€17,716 | -18.7% |
| Financial income | 75/76B | €2,811 | €1,403 | -€1,409 | -50.1% |
| Recurring financial income | 75 | €2,811 | €1,403 | -€1,409 | -50.1% |
| Financial charges | 65/66B | €3,457 | €10,769 | +€7,312 | +211.5% |
| Recurring financial charges | 65 | €3,457 | €10,769 | +€7,312 | +211.5% |
| Profit (loss) for the period before taxes | 9903 | €93,958 | €67,521 | -€26,437 | -28.1% |
| Income taxes | 67/77 | €27,186 | €19,534 | -€7,652 | -28.1% |
| Profit (loss) for the period | 9904 | €66,772 | €47,987 | -€18,785 | -28.1% |
| Profit (loss) for the period to be appropriated | 9905 | €66,772 | €47,987 | -€18,785 | -28.1% |
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 12 October 2026 via checked.be.