Lpcello: what changed
What changed
Lpcello
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€113,409
2024 · €42,415+€70,994
Equity
€457,987
2024 · €344,578+€113,409
Cash
€21,957
2024 · €9,858+€12,099
Balance sheet total
€1.9m
2024 · €1.0m+€858,172
Largest movements
Assets
- Tangible fixed assets +€956,151
up €956,151 (+1,725%), from €55,415 to €1.0m
of which Land and buildings: +€956,151
- Financial fixed assets -€100,000
down €100,000 (-10.4%), from €962,500 to €862,500
Equity and liabilities
- Debts after one year +€768,059
up €768,059 (+179%), from €429,588 to €1.2m
of which Financial debts: +€868,059
- Reserves +€113,000
up €113,000 (+33.3%), from €339,000 to €452,000
- Other debts -€97,651
down €97,651 (-58.8%), from €165,949 to €68,298
- Current portion of long-term debt +€36,443
up €36,443 (+69.3%), from €52,621 to €89,065
- Accrued charges and deferred income +€20,691
up €20,691 (+241%), from €8,593 to €29,284
Income statement
- Gross operating margin +€177,509
up €177,509 (+236%), from €75,321 to €252,829
- Depreciation +€130,094
up €130,094 (+42,852%), from €304 to €130,398
- Financial income +€29,866
up €29,866, from €0 to €29,866
- Taxes +€11,287
up €11,287 (+97.1%), from €11,621 to €22,907
- Financial charges -€3,156
down €3,156 (-17.2%), from €18,392 to €15,236
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€42,415
Gross operating margin
+€177,509
Depreciation
-€130,094
Other operating charges
+€1,844
Financial income
+€29,866
Financial charges
+€3,156
Taxes
-€11,287
Result 2025
€113,409
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€194,146
Investment
-€986,549
Financing
+€804,502
Cash 2024
€9,858
From operations (derived)
+€194,146
Net result for the year
+€113,409
Depreciation
+€130,398
Receivables within one year
+€12,014
Smaller working-capital items
+€210
Tax, wage and social debts
+€15,075
Other debts
-€97,651
Accrued charges and deferred income
+€20,691
Investment (derived)
-€986,549
Investment in fixed assets (net)
-€986,549
Financing
+€804,502
Debts after one year
+€768,059
Current portion of long-term debt
+€36,443
Cash 2025
€21,957
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,039,873 | €1,898,046 | +€858,172 | +82.5% |
| Fixed assets | 21/28 | €1,017,915 | €1,874,067 | +€856,151 | +84.1% |
| Tangible fixed assets | 22/27 | €55,415 | €1,011,567 | +€956,151 | +1,725% |
| Land and buildings | 22 | €25,415 | €981,566 | +€956,151 | +3,762% |
| Other tangible fixed assets | 26 | €30,001 | €30,001 | = | 0.0% |
| Financial fixed assets | 28 | €962,500 | €862,500 | -€100,000 | -10.4% |
| Current assets | 29/58 | €21,958 | €23,979 | +€2,021 | +9.2% |
| Amounts receivable within one year | 40/41 | €12,100 | €86 | -€12,014 | -99.3% |
| Trade receivables | 40 | €12,100 | €0 | -€12,100 | -100% |
| Other amounts receivable | 41 | €0 | €86 | +€86 | |
| Cash at bank and in hand | 54/58 | €9,858 | €21,957 | +€12,099 | +123% |
| Deferred charges and accrued income | 490/1 | €0 | €1,936 | +€1,936 | |
| Total equity and liabilities | 10/49 | €1,039,873 | €1,898,046 | +€858,172 | +82.5% |
| Equity | 10/15 | €344,578 | €457,987 | +€113,409 | +32.9% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €339,000 | €452,000 | +€113,000 | +33.3% |
| Distributable reserves | 133 | €339,000 | €452,000 | +€113,000 | +33.3% |
| Profit (loss) carried forward | 14 | €578 | €987 | +€409 | +70.9% |
| Amounts payable | 17/49 | €695,296 | €1,440,059 | +€744,763 | +107% |
| Amounts payable after more than one year | 17 | €429,588 | €1,197,647 | +€768,059 | +179% |
| Financial debts | 170/4 | €329,588 | €1,197,647 | +€868,059 | +263% |
| Other amounts payable | 178/9 | €100,000 | €0 | -€100,000 | -100% |
| Amounts payable within one year | 42/48 | €257,115 | €213,128 | -€43,987 | -17.1% |
| Current portion of amounts payable after more than one year | 42 | €52,621 | €89,065 | +€36,443 | +69.3% |
| Trade debts | 44 | €615 | €2,761 | +€2,146 | +349% |
| Suppliers | 440/4 | €615 | €2,761 | +€2,146 | +349% |
| Taxes, remuneration and social security | 45 | €37,929 | €53,004 | +€15,075 | +39.7% |
| Taxes | 450/3 | €37,929 | €53,004 | +€15,075 | +39.7% |
| Other amounts payable | 47/48 | €165,949 | €68,298 | -€97,651 | -58.8% |
| Accrued charges and deferred income | 492/3 | €8,593 | €29,284 | +€20,691 | +241% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €304 | €130,398 | +€130,094 | +42,852% |
| Other operating charges | 640/8 | €2,589 | €745 | -€1,844 | -71.2% |
| Gross operating margin | 9900 | €75,321 | €252,829 | +€177,509 | +236% |
| Operating profit (loss) | 9901 | €72,428 | €121,686 | +€49,259 | +68.0% |
| Financial income | 75/76B | €0 | €29,866 | +€29,866 | |
| Recurring financial income | 75 | €0 | €29,866 | +€29,866 | |
| Financial charges | 65/66B | €18,392 | €15,236 | -€3,156 | -17.2% |
| Recurring financial charges | 65 | €18,392 | €15,236 | -€3,156 | -17.2% |
| Profit (loss) for the period before taxes | 9903 | €54,036 | €136,317 | +€82,281 | +152% |
| Income taxes | 67/77 | €11,621 | €22,907 | +€11,287 | +97.1% |
| Profit (loss) for the period | 9904 | €42,415 | €113,409 | +€70,994 | +167% |
| Profit (loss) for the period to be appropriated | 9905 | €42,415 | €113,409 | +€70,994 | +167% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.