LPI DEVELOPMENT: 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.
LPI DEVELOPMENT
Largest movements
- Stocks and contracts -€6.5m
down €6.5m (-81.9%), from €7.9m to €1.4m
- Receivables within one year +€130,524
up €130,524 (+225.1%), from €57,978 to €188,502
of which Other amounts receivable: +€130,113
- Profit (loss) carried forward -€8.6m
down €8.6m (-812.0%), from -€1.1m to -€9.7m
- Debts after one year +€2.1m
up €2.1m (+30.3%), from €7.1m to €9.2m
- Trade debts +€304,928
up €304,928 (+19.1%), from €1.6m to €1.9m
- Current portion of long-term debt -€151,784
no longer reported in 2025 (was €151,784)
- Write-downs +€8.2m
new in 2025: €8.2m
- Gross operating margin +€250,546
up €250,546 (+40.0%), from -€626,618 to -€376,072
- Other operating charges +€29,034
up €29,034 (+2583.1%), from €1,124 to €30,159
- Depreciation -€21,765
down €21,765 (-43.3%), from €50,310 to €28,545
- Staff costs -€11,580
no longer reported in 2025 (was €11,580)
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 | €7,996,314 | €1,634,909 | -€6.4m | -79.6% |
| Fixed assets | 21/28 | €42,104 | €13,559 | -€28,545 | -67.8% |
| Tangible fixed assets | 22/27 | €42,104 | €13,559 | -€28,545 | -67.8% |
| Plant, machinery and equipment | 23 | €42,104 | €13,559 | -€28,545 | -67.8% |
| Current assets | 29/58 | €7,954,211 | €1,621,350 | -€6.3m | -79.6% |
| Stocks and contracts in progress | 3 | €7,888,346 | €1,425,515 | -€6.5m | -81.9% |
| Contracts in progress | 37 | €7,888,346 | €1,425,515 | -€6.5m | -81.9% |
| Amounts receivable within one year | 40/41 | €57,978 | €188,502 | +€130,524 | +225.1% |
| Trade receivables | 40 | €1,721 | €2,132 | +€411 | +23.9% |
| Other amounts receivable | 41 | €56,257 | €186,369 | +€130,113 | +231.3% |
| Cash at bank and in hand | 54/58 | €7,312 | €1,528 | -€5,784 | -79.1% |
| Deferred charges and accrued income | 490/1 | €575 | €5,805 | +€5,231 | +910.5% |
| Total equity and liabilities | 10/49 | €7,996,314 | €1,634,909 | -€6.4m | -79.6% |
| Equity | 10/15 | -€814,262 | -€9,455,930 | -€8.6m | -1061.3% |
| Contributions | 10/11 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,064,262 | -€9,705,930 | -€8.6m | -812.0% |
| Amounts payable | 17/49 | €8,810,576 | €11,090,839 | +€2.3m | +25.9% |
| Amounts payable after more than one year | 17 | €7,057,652 | €9,193,068 | +€2.1m | +30.3% |
| Other amounts payable | 178/9 | €7,057,652 | €9,193,068 | +€2.1m | +30.3% |
| Amounts payable within one year | 42/48 | €1,752,924 | €1,897,772 | +€144,848 | +8.3% |
| Current portion of amounts payable after more than one year | 42 | €151,784 | - | -€151,784 | |
| Trade debts | 44 | €1,592,844 | €1,897,772 | +€304,928 | +19.1% |
| Suppliers | 440/4 | €1,592,844 | €1,897,772 | +€304,928 | +19.1% |
| Taxes, remuneration and social security | 45 | €8,296 | - | -€8,296 | |
| Remuneration and social security | 454/9 | €8,296 | - | -€8,296 | |
| Remuneration, social security and pensions | 62 | €11,580 | - | -€11,580 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,310 | €28,545 | -€21,765 | -43.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,205,148 | +€8.2m | |
| Other operating charges | 640/8 | €1,124 | €30,159 | +€29,034 | +2583.1% |
| Gross operating margin | 9900 | -€626,618 | -€376,072 | +€250,546 | +40.0% |
| Operating profit (loss) | 9901 | -€689,633 | -€8,639,923 | -€8.0m | -1152.8% |
| Financial income | 75/76B | €3,357 | €0 | -€3,357 | -100.0% |
| Recurring financial income | 75 | €3,357 | €0 | -€3,357 | -100.0% |
| Financial charges | 65/66B | €5,614 | €1,745 | -€3,869 | -68.9% |
| Recurring financial charges | 65 | €5,614 | €1,745 | -€3,869 | -68.9% |
| Profit (loss) for the period before taxes | 9903 | -€691,890 | -€8,641,668 | -€7.9m | -1149.0% |
| Profit (loss) for the period | 9904 | -€691,890 | -€8,641,668 | -€7.9m | -1149.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€691,890 | -€8,641,668 | -€7.9m | -1149.0% |
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 9 October 2026 via checked.be.