LPGM: 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.
LPGM
Largest movements
- Receivables after one year -€819,716
down €819,716 (-100.0%), from €819,716 to €0
- Deferred charges and accrued income -€46,171
down €46,171 (-95.8%), from €48,192 to €2,021
- Receivables within one year +€27,338
up €27,338 (+66.9%), from €40,873 to €68,211
of which Other amounts receivable: +€39,346
- Profit (loss) carried forward -€956,706
down €956,706, from €155 to -€956,551
- Other debts +€95,771
up €95,771 (+10.4%), from €923,089 to €1.0m
- Tax, wage and social debts +€18,908
up €18,908 (+913.8%), from €2,069 to €20,977
- Financial charges +€868,381
up €868,381 (+786790.8%), from €110 to €868,491
of which Non-recurring financial charges: +€868,328
- Gross operating margin -€70,688
down €70,688 (-2470.5%), from -€2,861 to -€73,549
- Financial income -€19,030
down €19,030 (-96.8%), from €19,660 to €630
- Depreciation +€8,606
up €8,606 (+176.0%), from €4,889 to €13,495
- Taxes -€1,914
down €1,914 (-95.1%), from €2,013 to €98
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 | €938,088 | €94,489 | -€843,599 | -89.9% |
| Fixed assets | 21/28 | €25,854 | €22,607 | -€3,247 | -12.6% |
| Tangible fixed assets | 22/27 | €25,853 | €22,607 | -€3,246 | -12.6% |
| Plant, machinery and equipment | 23 | €4,561 | €9,569 | +€5,008 | +109.8% |
| Furniture and vehicles | 24 | €21,292 | €13,038 | -€8,254 | -38.8% |
| Financial fixed assets | 28 | €1 | €0 | -€1 | -100.0% |
| Current assets | 29/58 | €912,234 | €71,883 | -€840,351 | -92.1% |
| Amounts receivable after more than one year | 29 | €819,716 | €0 | -€819,716 | -100.0% |
| Trade receivables | 290 | €819,716 | €0 | -€819,716 | -100.0% |
| Amounts receivable within one year | 40/41 | €40,873 | €68,211 | +€27,338 | +66.9% |
| Trade receivables | 40 | €31,694 | €19,686 | -€12,007 | -37.9% |
| Other amounts receivable | 41 | €9,179 | €48,525 | +€39,346 | +428.6% |
| Cash at bank and in hand | 54/58 | €3,454 | €1,651 | -€1,803 | -52.2% |
| Deferred charges and accrued income | 490/1 | €48,192 | €2,021 | -€46,171 | -95.8% |
| Total equity and liabilities | 10/49 | €938,088 | €94,489 | -€843,599 | -89.9% |
| Equity | 10/15 | €1,655 | -€955,051 | -€956,706 | |
| Contributions | 10/11 | €1,500 | €1,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €155 | -€956,551 | -€956,706 | |
| Amounts payable | 17/49 | €936,433 | €1,049,541 | +€113,108 | +12.1% |
| Amounts payable within one year | 42/48 | €933,933 | €1,041,541 | +€107,608 | +11.5% |
| Trade debts | 44 | €8,775 | €1,703 | -€7,071 | -80.6% |
| Suppliers | 440/4 | €8,775 | €1,703 | -€7,071 | -80.6% |
| Taxes, remuneration and social security | 45 | €2,069 | €20,977 | +€18,908 | +913.8% |
| Taxes | 450/3 | €2,069 | €20,977 | +€18,908 | +913.8% |
| Other amounts payable | 47/48 | €923,089 | €1,018,860 | +€95,771 | +10.4% |
| Accrued charges and deferred income | 492/3 | €2,500 | €8,000 | +€5,500 | +220.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,889 | €13,495 | +€8,606 | +176.0% |
| Other operating charges | 640/8 | €901 | €1,702 | +€801 | +88.9% |
| Gross operating margin | 9900 | -€2,861 | -€73,549 | -€70,688 | -2470.5% |
| Operating profit (loss) | 9901 | -€8,652 | -€88,746 | -€80,095 | -925.8% |
| Financial income | 75/76B | €19,660 | €630 | -€19,030 | -96.8% |
| Recurring financial income | 75 | €19,660 | €630 | -€19,030 | -96.8% |
| Financial charges | 65/66B | €110 | €868,491 | +€868,381 | +786790.8% |
| Recurring financial charges | 65 | €110 | €164 | +€53 | +48.3% |
| Non-recurring financial charges | 66B | - | €868,328 | +€868,328 | |
| Profit (loss) for the period before taxes | 9903 | €10,898 | -€956,608 | -€967,506 | |
| Income taxes | 67/77 | €2,013 | €98 | -€1,914 | -95.1% |
| Profit (loss) for the period | 9904 | €8,885 | -€956,706 | -€965,591 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,885 | -€956,706 | -€965,591 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.