LR Finances: 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.
LR Finances
Largest movements
- Cash +€105,865
up €105,865 (+118%), from €89,994 to €195,859
mainly Net result for the year (+€88,132) and Depreciation (+€54,305)
- Tangible fixed assets -€20,834
down €20,834 (-12.6%), from €165,889 to €145,055
of which Other tangible fixed assets: -€25,917
- Receivables within one year +€16,380
up €16,380 (+13.1%), from €124,762 to €141,142
of which Other amounts receivable: +€11,268
- Other debts +€49,482
new in 2025: €49,482
- Debts after one year +€46,874
up €46,874 (+54.1%), from €86,589 to €133,463
of which Financial debts: +€46,874
- Reserves +€38,650
up €38,650 (+31.1%), from €124,235 to €162,884
of which Distributable reserves: +€45,304
- Trade debts -€25,024
down €25,024 (-71.3%), from €35,108 to €10,084
- Short-term financial debts +€24,548
up €24,548 (+107%), from €22,984 to €47,532
- Provisions -€43,600
down €43,600, from €21,800 to -€21,800
- Staff costs +€16,542
up €16,542 (+4.7%), from €352,891 to €369,433
- Financial charges +€12,361
up €12,361 (+136%), from €9,059 to €21,420
of which Financial charges: +€8,705
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.
Derived cash bridge
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 | €664,322 | €762,211 | +€97,888 | +14.7% |
| Fixed assets | 21/28 | €166,834 | €145,519 | -€21,315 | -12.8% |
| Intangible fixed assets | 21 | €895 | €414 | -€481 | -53.7% |
| Tangible fixed assets | 22/27 | €165,889 | €145,055 | -€20,834 | -12.6% |
| Furniture and vehicles | 24 | €96,743 | €101,826 | +€5,084 | +5.3% |
| Other tangible fixed assets | 26 | €69,146 | €43,229 | -€25,917 | -37.5% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €497,488 | €616,691 | +€119,203 | +24.0% |
| Amounts receivable within one year | 40/41 | €124,762 | €141,142 | +€16,380 | +13.1% |
| Trade receivables | 40 | €0 | €5,111 | +€5,111 | |
| Other amounts receivable | 41 | €124,762 | €136,031 | +€11,268 | +9.0% |
| Cash at bank and in hand | 54/58 | €89,994 | €195,859 | +€105,865 | +118% |
| Deferred charges and accrued income | 490/1 | €282,732 | €279,690 | -€3,042 | -1.1% |
| Total equity and liabilities | 10/49 | €664,322 | €762,211 | +€97,888 | +14.7% |
| Equity | 10/15 | €281,986 | €320,635 | +€38,650 | +13.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €124,235 | €162,884 | +€38,650 | +31.1% |
| Tax-exempt reserves | 132 | €25,404 | €18,750 | -€6,654 | -26.2% |
| Distributable reserves | 133 | €98,831 | €144,134 | +€45,304 | +45.8% |
| Profit (loss) carried forward | 14 | €139,151 | €139,151 | = | 0.0% |
| Provisions and deferred taxes | 16 | €23,908 | €0 | -€23,908 | -100% |
| Provisions for liabilities and charges | 160/5 | €21,800 | €0 | -€21,800 | -100% |
| Other liabilities and charges | 164/5 | €21,800 | €0 | -€21,800 | -100% |
| Deferred taxes | 168 | €2,108 | €0 | -€2,108 | -100% |
| Amounts payable | 17/49 | €358,429 | €441,576 | +€83,147 | +23.2% |
| Amounts payable after more than one year | 17 | €86,589 | €133,463 | +€46,874 | +54.1% |
| Financial debts | 170/4 | €84,189 | €131,063 | +€46,874 | +55.7% |
| Other amounts payable | 178/9 | €2,400 | €2,400 | = | 0.0% |
| Amounts payable within one year | 42/48 | €271,555 | €307,445 | +€35,891 | +13.2% |
| Current portion of amounts payable after more than one year | 42 | €28,174 | €21,185 | -€6,989 | -24.8% |
| Financial debts | 43 | €22,984 | €47,532 | +€24,548 | +107% |
| Credit institutions | 430/8 | €22,984 | €47,532 | +€24,548 | +107% |
| Trade debts | 44 | €35,108 | €10,084 | -€25,024 | -71.3% |
| Suppliers | 440/4 | €35,108 | €10,084 | -€25,024 | -71.3% |
| Taxes, remuneration and social security | 45 | €185,288 | €179,162 | -€6,126 | -3.3% |
| Taxes | 450/3 | €98,956 | €96,931 | -€2,025 | -2.0% |
| Remuneration and social security | 454/9 | €86,332 | €82,231 | -€4,101 | -4.8% |
| Other amounts payable | 47/48 | - | €49,482 | +€49,482 | |
| Accrued charges and deferred income | 492/3 | €285 | €667 | +€382 | +134% |
| Remuneration, social security and pensions | 62 | €352,891 | €369,433 | +€16,542 | +4.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €50,757 | €54,305 | +€3,548 | +7.0% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €21,800 | -€21,800 | -€43,600 | |
| Other operating charges | 640/8 | €4,162 | €2,370 | -€1,792 | -43.0% |
| Gross operating margin | 9900 | €552,494 | €553,331 | +€836 | +0.2% |
| Operating profit (loss) | 9901 | €122,884 | €149,023 | +€26,138 | +21.3% |
| Financial income | 75/76B | €1,136 | €1,674 | +€538 | +47.3% |
| Recurring financial income | 75 | €1,136 | €1,674 | +€538 | +47.3% |
| Financial charges | 65/66B | €9,059 | €21,420 | +€12,361 | +136% |
| Recurring financial charges | 65 | €9,059 | €17,764 | +€8,705 | +96.1% |
| Non-recurring financial charges | 66B | - | €3,656 | +€3,656 | |
| Profit (loss) for the period before taxes | 9903 | €114,961 | €129,276 | +€14,315 | +12.5% |
| Transfer from deferred taxes | 780 | €3,394 | €2,108 | -€1,286 | -37.9% |
| Income taxes | 67/77 | €42,799 | €43,252 | +€454 | +1.1% |
| Profit (loss) for the period | 9904 | €75,557 | €88,132 | +€12,575 | +16.6% |
| Transfer from tax-exempt reserves | 789 | €10,018 | €6,654 | -€3,364 | -33.6% |
| Profit (loss) for the period to be appropriated | 9905 | €85,575 | €94,786 | +€9,212 | +10.8% |
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 17 October 2026 via checked.be.