LNZ: 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.
LNZ
Largest movements
- Cash -€2,429
down €2,429 (-6.1%), from €39,858 to €37,429
mainly Contributions, distributions and other (-€10,000) and Tax, wage and social debts (-€2,988)
- Receivables within one year -€1,309
down €1,309 (-12.5%), from €10,448 to €9,139
of which Trade receivables: -€10,440
- Deferred charges and accrued income -€994
down €994 (-61.5%), from €1,614 to €621
- Tangible fixed assets -€905
down €905 (-49.1%), from €1,843 to €938
- Profit (loss) carried forward -€7,986
down €7,986 (-22.9%), from €34,935 to €26,949
- Other debts +€7,878
up €7,878 (+371.2%), from €2,122 to €10,000
- Tax, wage and social debts -€2,988
down €2,988 (-28.7%), from €10,429 to €7,440
- Short-term financial debts -€2,600
no longer reported in 2025 (was €2,600)
- Gross operating margin -€4,187
down €4,187 (-43.2%), from €9,703 to €5,516
- Taxes -€1,107
down €1,107 (-46.3%), from €2,390 to €1,283
- Financial income +€176
new in 2025: €176
- Depreciation +€165
up €165 (+22.4%), from €740 to €905
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 | €53,763 | €48,127 | -€5,637 | -10.5% |
| Fixed assets | 21/28 | €1,843 | €938 | -€905 | -49.1% |
| Tangible fixed assets | 22/27 | €1,843 | €938 | -€905 | -49.1% |
| Furniture and vehicles | 24 | €1,843 | €938 | -€905 | -49.1% |
| Current assets | 29/58 | €51,920 | €47,188 | -€4,732 | -9.1% |
| Amounts receivable within one year | 40/41 | €10,448 | €9,139 | -€1,309 | -12.5% |
| Trade receivables | 40 | €10,440 | - | -€10,440 | |
| Other amounts receivable | 41 | €8 | €9,139 | +€9,130 | +108435.9% |
| Cash at bank and in hand | 54/58 | €39,858 | €37,429 | -€2,429 | -6.1% |
| Deferred charges and accrued income | 490/1 | €1,614 | €621 | -€994 | -61.5% |
| Total equity and liabilities | 10/49 | €53,763 | €48,127 | -€5,637 | -10.5% |
| Equity | 10/15 | €37,935 | €29,949 | -€7,986 | -21.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,935 | €26,949 | -€7,986 | -22.9% |
| Amounts payable | 17/49 | €15,829 | €18,177 | +€2,349 | +14.8% |
| Amounts payable within one year | 42/48 | €15,829 | €18,177 | +€2,349 | +14.8% |
| Financial debts | 43 | €2,600 | - | -€2,600 | |
| Credit institutions | 430/8 | €2,600 | - | -€2,600 | |
| Trade debts | 44 | €678 | €737 | +€59 | +8.7% |
| Suppliers | 440/4 | €678 | €737 | +€59 | +8.7% |
| Taxes, remuneration and social security | 45 | €10,429 | €7,440 | -€2,988 | -28.7% |
| Taxes | 450/3 | €10,429 | €7,440 | -€2,988 | -28.7% |
| Other amounts payable | 47/48 | €2,122 | €10,000 | +€7,878 | +371.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €740 | €905 | +€165 | +22.4% |
| Other operating charges | 640/8 | €387 | €400 | +€12 | +3.2% |
| Gross operating margin | 9900 | €9,703 | €5,516 | -€4,187 | -43.2% |
| Operating profit (loss) | 9901 | €8,576 | €4,211 | -€4,365 | -50.9% |
| Financial income | 75/76B | - | €176 | +€176 | |
| Recurring financial income | 75 | - | €176 | +€176 | |
| Financial charges | 65/66B | €1,000 | €1,090 | +€90 | +9.0% |
| Recurring financial charges | 65 | €1,000 | €1,090 | +€90 | +9.0% |
| Profit (loss) for the period before taxes | 9903 | €7,575 | €3,297 | -€4,278 | -56.5% |
| Income taxes | 67/77 | €2,390 | €1,283 | -€1,107 | -46.3% |
| Profit (loss) for the period | 9904 | €5,186 | €2,014 | -€3,171 | -61.2% |
| Profit (loss) for the period to be appropriated | 9905 | €5,186 | €2,014 | -€3,171 | -61.2% |
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 10 October 2026 via checked.be.