LPPO: 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.
LPPO
Largest movements
- Receivables within one year -€359,434
down €359,434 (-10.2%), from €3.5m to €3.2m
of which Other amounts receivable: -€493,284
- Receivables after one year -€125,000
no longer reported in 2025 (was €125,000)
- Tangible fixed assets +€114,152
up €114,152 (+2.9%), from €3.9m to €4.0m
of which Furniture and vehicles: +€88,694
- Cash -€106,001
down €106,001 (-56.2%), from €188,719 to €82,718
mainly Net result for the year (-€1.8m) and Investment in fixed assets (net) (-€308,433)
- Profit (loss) carried forward -€1.8m
down €1.8m (-271.3%), from -€663,515 to -€2.5m
- Other debts +€1.3m
up €1.3m (+24.3%), from €5.4m to €6.8m
- Accrued charges and deferred income +€182,573
up €182,573 (+144.6%), from €126,232 to €308,805
- Debts after one year -€111,209
down €111,209 (-5.5%), from €2.0m to €1.9m
- Financial charges +€781,258
up €781,258 (+385.8%), from €202,481 to €983,738
of which Non-recurring financial charges: +€725,000
- Gross operating margin +€228,826
up €228,826 (+27.1%), from -€845,479 to -€616,654
- Financial income -€74,986
down €74,986 (-97.0%), from €77,281 to €2,295
- Depreciation +€27,503
up €27,503 (+16.5%), from €166,778 to €194,280
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 | €8,390,980 | €7,916,756 | -€474,224 | -5.7% |
| Fixed assets | 21/28 | €4,203,134 | €4,317,287 | +€114,152 | +2.7% |
| Tangible fixed assets | 22/27 | €3,900,134 | €4,014,287 | +€114,152 | +2.9% |
| Land and buildings | 22 | €3,794,914 | €3,816,833 | +€21,919 | +0.6% |
| Plant, machinery and equipment | 23 | €28,237 | €31,777 | +€3,539 | +12.5% |
| Furniture and vehicles | 24 | €76,983 | €165,678 | +€88,694 | +115.2% |
| Financial fixed assets | 28 | €303,000 | €303,000 | = | 0.0% |
| Current assets | 29/58 | €4,187,845 | €3,599,469 | -€588,376 | -14.0% |
| Amounts receivable after more than one year | 29 | €125,000 | - | -€125,000 | |
| Other amounts receivable | 291 | €125,000 | - | -€125,000 | |
| Amounts receivable within one year | 40/41 | €3,520,313 | €3,160,880 | -€359,434 | -10.2% |
| Trade receivables | 40 | €4,249 | €138,100 | +€133,851 | +3150.0% |
| Other amounts receivable | 41 | €3,516,064 | €3,022,780 | -€493,284 | -14.0% |
| Current investments | 50/53 | €353,812 | €355,871 | +€2,058 | +0.6% |
| Cash at bank and in hand | 54/58 | €188,719 | €82,718 | -€106,001 | -56.2% |
| Total equity and liabilities | 10/49 | €8,390,980 | €7,916,756 | -€474,224 | -5.7% |
| Equity | 10/15 | €509,320 | -€1,301,511 | -€1.8m | |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,160,436 | €1,149,746 | -€10,690 | -0.9% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €246,191 | €235,501 | -€10,690 | -4.3% |
| Distributable reserves | 133 | €912,384 | €912,384 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€663,515 | -€2,463,656 | -€1.8m | -271.3% |
| Provisions and deferred taxes | 16 | €105,261 | €101,698 | -€3,563 | -3.4% |
| Provisions for liabilities and charges | 160/5 | €23,198 | €23,198 | = | 0.0% |
| Pensions and similar obligations | 160 | €23,198 | €23,198 | = | 0.0% |
| Deferred taxes | 168 | €82,064 | €78,500 | -€3,563 | -4.3% |
| Amounts payable | 17/49 | €7,776,398 | €9,116,569 | +€1.3m | +17.2% |
| Amounts payable after more than one year | 17 | €2,023,522 | €1,912,312 | -€111,209 | -5.5% |
| Financial debts | 170/4 | €2,023,522 | €1,912,312 | -€111,209 | -5.5% |
| Amounts payable within one year | 42/48 | €5,626,644 | €6,895,451 | +€1.3m | +22.5% |
| Current portion of amounts payable after more than one year | 42 | €108,909 | €111,209 | +€2,301 | +2.1% |
| Trade debts | 44 | €72,440 | €7,958 | -€64,481 | -89.0% |
| Suppliers | 440/4 | €72,440 | €7,958 | -€64,481 | -89.0% |
| Taxes, remuneration and social security | 45 | - | €9,875 | +€9,875 | |
| Taxes | 450/3 | - | €9,875 | +€9,875 | |
| Other amounts payable | 47/48 | €5,445,296 | €6,766,409 | +€1.3m | +24.3% |
| Accrued charges and deferred income | 492/3 | €126,232 | €308,805 | +€182,573 | +144.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €166,778 | €194,280 | +€27,503 | +16.5% |
| Other operating charges | 640/8 | €12,402 | €20,418 | +€8,015 | +64.6% |
| Non-recurring operating charges | 66A | - | €1,184 | +€1,184 | |
| Gross operating margin | 9900 | -€845,479 | -€616,654 | +€228,826 | +27.1% |
| Operating profit (loss) | 9901 | -€1,024,659 | -€832,536 | +€192,124 | +18.8% |
| Financial income | 75/76B | €77,281 | €2,295 | -€74,986 | -97.0% |
| Recurring financial income | 75 | €77,281 | €2,295 | -€74,986 | -97.0% |
| Financial charges | 65/66B | €202,481 | €983,738 | +€781,258 | +385.8% |
| Recurring financial charges | 65 | €202,481 | €258,738 | +€56,258 | +27.8% |
| Non-recurring financial charges | 66B | - | €725,000 | +€725,000 | |
| Profit (loss) for the period before taxes | 9903 | -€1,149,859 | -€1,813,978 | -€664,120 | -57.8% |
| Transfer from deferred taxes | 780 | €3,563 | €3,563 | = | 0.0% |
| Income taxes | 67/77 | €385 | €416 | +€31 | +7.9% |
| Profit (loss) for the period | 9904 | -€1,146,681 | -€1,810,831 | -€664,150 | -57.9% |
| Transfer from tax-exempt reserves | 789 | €10,690 | €10,690 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,135,991 | -€1,800,141 | -€664,150 | -58.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.