LPFOX: 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.
LPFOX
Largest movements
- Receivables within one year -€16,517
down €16,517 (-96.3%), from €17,153 to €637
of which Trade receivables: -€16,275
- Tangible fixed assets -€12,045
down €12,045 (-5.1%), from €237,297 to €225,253
of which Land and buildings: -€11,954
- Debts after one year -€20,284
down €20,284 (-27.8%), from €72,876 to €52,592
- Profit (loss) carried forward -€10,288
down €10,288, from €10,150 to -€138
- Other debts +€4,950
up €4,950 (+6.4%), from €77,521 to €82,471
- Trade debts -€3,322
down €3,322 (-81.1%), from €4,098 to €777
- Gross operating margin -€21,955
down €21,955 (-69.2%), from €31,724 to €9,769
- Other operating charges -€3,825
down €3,825 (-65.6%), from €5,831 to €2,006
- Taxes -€1,454
no longer reported in 2025 (was €1,454)
- Financial charges -€938
down €938 (-17.7%), from €5,301 to €4,363
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 | €255,123 | €226,358 | -€28,765 | -11.3% |
| Fixed assets | 21/28 | €237,297 | €225,253 | -€12,045 | -5.1% |
| Tangible fixed assets | 22/27 | €237,297 | €225,253 | -€12,045 | -5.1% |
| Land and buildings | 22 | €237,207 | €225,253 | -€11,954 | -5.0% |
| Furniture and vehicles | 24 | €91 | - | -€91 | |
| Current assets | 29/58 | €17,826 | €1,106 | -€16,720 | -93.8% |
| Amounts receivable within one year | 40/41 | €17,153 | €637 | -€16,517 | -96.3% |
| Trade receivables | 40 | €16,912 | €637 | -€16,275 | -96.2% |
| Other amounts receivable | 41 | €241 | - | -€241 | |
| Cash at bank and in hand | 54/58 | €547 | €469 | -€78 | -14.3% |
| Deferred charges and accrued income | 490/1 | €125 | - | -€125 | |
| Total equity and liabilities | 10/49 | €255,123 | €226,358 | -€28,765 | -11.3% |
| Equity | 10/15 | €77,800 | €67,512 | -€10,288 | -13.2% |
| Contributions | 10/11 | €61,500 | €61,500 | = | 0.0% |
| Capital | 10 | €61,500 | €61,500 | = | 0.0% |
| Issued capital | 100 | €61,500 | €61,500 | = | 0.0% |
| Reserves | 13 | €6,150 | €6,150 | = | 0.0% |
| Non-distributable reserves | 130/1 | €6,150 | €6,150 | = | 0.0% |
| Legal reserve | 130 | €6,150 | €6,150 | = | 0.0% |
| Profit (loss) carried forward | 14 | €10,150 | -€138 | -€10,288 | |
| Amounts payable | 17/49 | €177,323 | €158,846 | -€18,477 | -10.4% |
| Amounts payable after more than one year | 17 | €72,876 | €52,592 | -€20,284 | -27.8% |
| Financial debts | 170/4 | €72,876 | €52,592 | -€20,284 | -27.8% |
| Amounts payable within one year | 42/48 | €104,447 | €105,128 | +€681 | +0.7% |
| Current portion of amounts payable after more than one year | 42 | €19,311 | €20,284 | +€973 | +5.0% |
| Trade debts | 44 | €4,098 | €777 | -€3,322 | -81.1% |
| Suppliers | 440/4 | €4,098 | €777 | -€3,322 | -81.1% |
| Taxes, remuneration and social security | 45 | €3,517 | €1,596 | -€1,921 | -54.6% |
| Taxes | 450/3 | €3,517 | €1,596 | -€1,921 | -54.6% |
| Other amounts payable | 47/48 | €77,521 | €82,471 | +€4,950 | +6.4% |
| Accrued charges and deferred income | 492/3 | - | €1,126 | +€1,126 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,924 | €13,688 | -€236 | -1.7% |
| Other operating charges | 640/8 | €5,831 | €2,006 | -€3,825 | -65.6% |
| Gross operating margin | 9900 | €31,724 | €9,769 | -€21,955 | -69.2% |
| Operating profit (loss) | 9901 | €11,969 | -€5,925 | -€17,894 | |
| Financial charges | 65/66B | €5,301 | €4,363 | -€938 | -17.7% |
| Recurring financial charges | 65 | €5,301 | €4,363 | -€938 | -17.7% |
| Profit (loss) for the period before taxes | 9903 | €6,668 | -€10,288 | -€16,956 | |
| Income taxes | 67/77 | €1,454 | - | -€1,454 | |
| Profit (loss) for the period | 9904 | €5,215 | -€10,288 | -€15,503 | |
| Profit (loss) for the period to be appropriated | 9905 | €5,215 | -€10,288 | -€15,503 |
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 11 October 2026 via checked.be.