LPCDM: 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.
LPCDM
Largest movements
- Tangible fixed assets -€228,988
down €228,988 (-19.5%), from €1.2m to €943,855
of which Plant, machinery and equipment: -€137,811
- Stocks and contracts +€26,800
up €26,800 (+43.3%), from €61,849 to €88,649
- Cash +€20,446
up €20,446 (+87.1%), from €23,481 to €43,926
mainly Investment in fixed assets (net) (+€119,939) and Depreciation (+€110,004)
- Other debts -€172,254
down €172,254 (-43.0%), from €400,445 to €228,191
- Gross operating margin +€186,254
up €186,254, from -€56,257 to €129,997
- Depreciation -€34,867
down €34,867 (-24.1%), from €144,871 to €110,004
- Taxes -€6,238
down €6,238 (-89.7%), from €6,951 to €713
- Staff costs -€6,193
down €6,193 (-56.1%), from €11,038 to €4,845
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 | €1,274,933 | €1,087,784 | -€187,149 | -14.7% |
| Fixed assets | 21/28 | €1,174,627 | €944,684 | -€229,943 | -19.6% |
| Intangible fixed assets | 21 | €1,210 | €254 | -€955 | -79.0% |
| Tangible fixed assets | 22/27 | €1,172,842 | €943,855 | -€228,988 | -19.5% |
| Land and buildings | 22 | €747,652 | €698,837 | -€48,814 | -6.5% |
| Plant, machinery and equipment | 23 | €361,225 | €223,414 | -€137,811 | -38.2% |
| Furniture and vehicles | 24 | €63,965 | €21,603 | -€42,362 | -66.2% |
| Financial fixed assets | 28 | €575 | €575 | = | 0.0% |
| Current assets | 29/58 | €100,306 | €143,100 | +€42,794 | +42.7% |
| Stocks and contracts in progress | 3 | €61,849 | €88,649 | +€26,800 | +43.3% |
| Stocks | 30/36 | €61,849 | €88,649 | +€26,800 | +43.3% |
| Amounts receivable within one year | 40/41 | €13,145 | €8,644 | -€4,502 | -34.2% |
| Trade receivables | 40 | €418 | €5,793 | +€5,375 | +1286.1% |
| Other amounts receivable | 41 | €12,727 | €2,851 | -€9,877 | -77.6% |
| Cash at bank and in hand | 54/58 | €23,481 | €43,926 | +€20,446 | +87.1% |
| Deferred charges and accrued income | 490/1 | €1,831 | €1,881 | +€50 | +2.7% |
| Total equity and liabilities | 10/49 | €1,274,933 | €1,087,784 | -€187,149 | -14.7% |
| Equity | 10/15 | -€210,042 | -€202,568 | +€7,474 | +3.6% |
| Contributions | 10/11 | €370,000 | €370,000 | = | 0.0% |
| Reserves | 13 | €17,870 | €17,870 | = | 0.0% |
| Distributable reserves | 133 | €17,870 | €17,870 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€597,912 | -€590,438 | +€7,474 | +1.2% |
| Amounts payable | 17/49 | €1,484,974 | €1,290,352 | -€194,622 | -13.1% |
| Amounts payable after more than one year | 17 | €1,050,000 | €1,050,000 | = | 0.0% |
| Financial debts | 170/4 | €1,050,000 | €1,050,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €434,924 | €235,652 | -€199,272 | -45.8% |
| Current portion of amounts payable after more than one year | 42 | €11,200 | - | -€11,200 | |
| Trade debts | 44 | €8,382 | €4,660 | -€3,722 | -44.4% |
| Suppliers | 440/4 | €8,382 | €4,660 | -€3,722 | -44.4% |
| Taxes, remuneration and social security | 45 | €14,898 | €2,801 | -€12,097 | -81.2% |
| Taxes | 450/3 | €14,212 | €2,801 | -€11,411 | -80.3% |
| Remuneration and social security | 454/9 | €685 | - | -€685 | |
| Other amounts payable | 47/48 | €400,445 | €228,191 | -€172,254 | -43.0% |
| Accrued charges and deferred income | 492/3 | €50 | €4,700 | +€4,650 | +9300.0% |
| Non-recurring operating income | 76A | - | €82,423 | +€82,423 | |
| Remuneration, social security and pensions | 62 | €11,038 | €4,845 | -€6,193 | -56.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,871 | €110,004 | -€34,867 | -24.1% |
| Other operating charges | 640/8 | €2,113 | €2,316 | +€203 | +9.6% |
| Non-recurring operating charges | 66A | - | €4,463 | +€4,463 | |
| Gross operating margin | 9900 | -€56,257 | €129,997 | +€186,254 | |
| Operating profit (loss) | 9901 | -€214,278 | €8,369 | +€222,647 | |
| Financial income | 75/76B | €78 | €37 | -€41 | -52.5% |
| Recurring financial income | 75 | €78 | €37 | -€41 | -52.5% |
| Financial charges | 65/66B | €895 | €220 | -€675 | -75.4% |
| Recurring financial charges | 65 | €895 | €220 | -€675 | -75.4% |
| Profit (loss) for the period before taxes | 9903 | -€215,094 | €8,186 | +€223,281 | |
| Income taxes | 67/77 | €6,951 | €713 | -€6,238 | -89.7% |
| Profit (loss) for the period | 9904 | -€222,045 | €7,474 | +€229,519 | |
| Profit (loss) for the period to be appropriated | 9905 | -€222,045 | €7,474 | +€229,519 |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.