LR&L: 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.
LR&L
Largest movements
- Receivables within one year +€44,550
up €44,550 (+87.2%), from €51,096 to €95,646
of which Other amounts receivable: +€43,891
- Cash -€16,231
no longer reported in 2025 (was €16,231)
mainly Receivables within one year (-€44,550) and Debts after one year (-€14,616)
- Tangible fixed assets -€14,185
down €14,185 (-5.6%), from €253,518 to €239,333
of which Land and buildings: -€14,487
- Short-term financial debts +€17,322
up €17,322 (+577.4%), from €3,000 to €20,322
- Debts after one year -€14,616
down €14,616 (-6.5%), from €224,308 to €209,692
- Reserves +€9,900
up €9,900 (+16.4%), from €60,515 to €70,415
of which Distributable reserves: +€9,900
- Financial charges -€1,508
down €1,508 (-11.0%), from €13,665 to €12,157
- Depreciation -€1,392
down €1,392 (-8.4%), from €16,662 to €15,270
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 | €324,158 | €336,935 | +€12,776 | +3.9% |
| Fixed assets | 21/28 | €253,518 | €239,333 | -€14,185 | -5.6% |
| Tangible fixed assets | 22/27 | €253,518 | €239,333 | -€14,185 | -5.6% |
| Land and buildings | 22 | €252,652 | €238,165 | -€14,487 | -5.7% |
| Furniture and vehicles | 24 | €866 | €1,168 | +€302 | +34.9% |
| Current assets | 29/58 | €70,640 | €97,602 | +€26,961 | +38.2% |
| Amounts receivable within one year | 40/41 | €51,096 | €95,646 | +€44,550 | +87.2% |
| Trade receivables | 40 | €16,683 | €17,342 | +€659 | +4.0% |
| Other amounts receivable | 41 | €34,413 | €78,304 | +€43,891 | +127.5% |
| Cash at bank and in hand | 54/58 | €16,231 | - | -€16,231 | |
| Deferred charges and accrued income | 490/1 | €3,314 | €1,956 | -€1,358 | -41.0% |
| Total equity and liabilities | 10/49 | €324,158 | €336,935 | +€12,776 | +3.9% |
| Equity | 10/15 | €79,536 | €89,462 | +€9,927 | +12.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €60,515 | €70,415 | +€9,900 | +16.4% |
| Non-distributable reserves | 130/1 | €815 | €815 | = | 0.0% |
| Reserves not available under the articles | 1311 | €815 | €815 | = | 0.0% |
| Distributable reserves | 133 | €59,700 | €69,600 | +€9,900 | +16.6% |
| Profit (loss) carried forward | 14 | €421 | €448 | +€27 | +6.4% |
| Amounts payable | 17/49 | €244,623 | €247,472 | +€2,850 | +1.2% |
| Amounts payable after more than one year | 17 | €224,308 | €209,692 | -€14,616 | -6.5% |
| Financial debts | 170/4 | €224,308 | €209,692 | -€14,616 | -6.5% |
| Amounts payable within one year | 42/48 | €20,315 | €37,780 | +€17,465 | +86.0% |
| Current portion of amounts payable after more than one year | 42 | €14,256 | €14,644 | +€387 | +2.7% |
| Financial debts | 43 | €3,000 | €20,322 | +€17,322 | +577.4% |
| Credit institutions | 430/8 | €3,000 | €20,322 | +€17,322 | +577.4% |
| Trade debts | 44 | €2,343 | €1,671 | -€672 | -28.7% |
| Suppliers | 440/4 | €2,343 | €1,671 | -€672 | -28.7% |
| Taxes, remuneration and social security | 45 | €715 | €1,143 | +€428 | +59.8% |
| Taxes | 450/3 | €715 | €1,143 | +€428 | +59.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,662 | €15,270 | -€1,392 | -8.4% |
| Other operating charges | 640/8 | €1,427 | €1,151 | -€276 | -19.4% |
| Gross operating margin | 9900 | €42,607 | €42,626 | +€19 | 0.0% |
| Operating profit (loss) | 9901 | €24,518 | €26,205 | +€1,687 | +6.9% |
| Financial charges | 65/66B | €13,665 | €12,157 | -€1,508 | -11.0% |
| Recurring financial charges | 65 | €13,665 | €12,157 | -€1,508 | -11.0% |
| Profit (loss) for the period before taxes | 9903 | €10,853 | €14,048 | +€3,196 | +29.4% |
| Income taxes | 67/77 | €3,715 | €4,121 | +€406 | +10.9% |
| Profit (loss) for the period | 9904 | €7,137 | €9,927 | +€2,790 | +39.1% |
| Profit (loss) for the period to be appropriated | 9905 | €7,137 | €9,927 | +€2,790 | +39.1% |
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 3 October 2026 via checked.be.