LR Management: 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 Management
Largest movements
- Stocks and contracts -€528,376
down €528,376 (-96.7%), from €546,396 to €18,020
- Receivables within one year +€102,072
up €102,072 (+65.9%), from €154,805 to €256,877
of which Trade receivables: +€67,135
- Tangible fixed assets +€39,682
up €39,682 (+9,070%), from €437 to €40,119
of which Plant, machinery and equipment: +€40,119
- Short-term financial debts -€355,060
down €355,060 (-93.6%), from €379,420 to €24,360
- Trade debts -€63,293
down €63,293 (-80.5%), from €78,635 to €15,342
- Tax, wage and social debts +€35,926
up €35,926 (+91.5%), from €39,278 to €75,203
- Reserves -€17,161
down €17,161 (-66.0%), from €25,995 to €8,834
- Other debts -€13,421
down €13,421 (-8.8%), from €152,408 to €138,987
- Gross operating margin -€124,080
down €124,080 (-93.2%), from €133,120 to €9,040
- Taxes -€13,380
down €13,380 (-98.6%), from €13,574 to €194
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €718,736 | €325,727 | -€393,009 | -54.7% |
| Fixed assets | 21/28 | €10,453 | €48,209 | +€37,756 | +361% |
| Intangible fixed assets | 21 | €2,740 | €814 | -€1,926 | -70.3% |
| Tangible fixed assets | 22/27 | €437 | €40,119 | +€39,682 | +9,070% |
| Plant, machinery and equipment | 23 | - | €40,119 | +€40,119 | |
| Furniture and vehicles | 24 | €437 | €0 | -€437 | -100% |
| Financial fixed assets | 28 | €7,275 | €7,275 | = | 0.0% |
| Current assets | 29/58 | €708,284 | €277,519 | -€430,765 | -60.8% |
| Stocks and contracts in progress | 3 | €546,396 | €18,020 | -€528,376 | -96.7% |
| Stocks | 30/36 | €546,396 | €18,020 | -€528,376 | -96.7% |
| Amounts receivable within one year | 40/41 | €154,805 | €256,877 | +€102,072 | +65.9% |
| Trade receivables | 40 | €148,632 | €215,768 | +€67,135 | +45.2% |
| Other amounts receivable | 41 | €6,173 | €41,110 | +€34,936 | +566% |
| Cash at bank and in hand | 54/58 | €3,798 | €432 | -€3,366 | -88.6% |
| Deferred charges and accrued income | 490/1 | €3,284 | €2,190 | -€1,095 | -33.3% |
| Total equity and liabilities | 10/49 | €718,736 | €325,727 | -€393,009 | -54.7% |
| Equity | 10/15 | €28,995 | €11,834 | -€17,161 | -59.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €25,995 | €8,834 | -€17,161 | -66.0% |
| Distributable reserves | 133 | €25,995 | €8,834 | -€17,161 | -66.0% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €689,741 | €313,893 | -€375,848 | -54.5% |
| Amounts payable after more than one year | 17 | €40,000 | €53,183 | +€13,183 | +33.0% |
| Financial debts | 170/4 | €40,000 | €53,183 | +€13,183 | +33.0% |
| Amounts payable within one year | 42/48 | €649,741 | €260,711 | -€389,031 | -59.9% |
| Current portion of amounts payable after more than one year | 42 | - | €6,817 | +€6,817 | |
| Financial debts | 43 | €379,420 | €24,360 | -€355,060 | -93.6% |
| Credit institutions | 430/8 | €379,420 | €24,360 | -€355,060 | -93.6% |
| Trade debts | 44 | €78,635 | €15,342 | -€63,293 | -80.5% |
| Suppliers | 440/4 | €78,635 | €15,342 | -€63,293 | -80.5% |
| Taxes, remuneration and social security | 45 | €39,278 | €75,203 | +€35,926 | +91.5% |
| Taxes | 450/3 | €39,278 | €75,203 | +€35,926 | +91.5% |
| Other amounts payable | 47/48 | €152,408 | €138,987 | -€13,421 | -8.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,868 | €3,444 | +€576 | +20.1% |
| Other operating charges | 640/8 | €11,749 | €11,603 | -€146 | -1.2% |
| Gross operating margin | 9900 | €133,120 | €9,040 | -€124,080 | -93.2% |
| Operating profit (loss) | 9901 | €118,503 | -€6,007 | -€124,510 | |
| Financial income | 75/76B | €1,776 | €1,987 | +€211 | +11.9% |
| Recurring financial income | 75 | €1,776 | €1,987 | +€211 | +11.9% |
| Financial charges | 65/66B | €14,251 | €12,947 | -€1,304 | -9.2% |
| Recurring financial charges | 65 | €14,251 | €12,947 | -€1,304 | -9.2% |
| Profit (loss) for the period before taxes | 9903 | €106,028 | -€16,967 | -€122,995 | |
| Income taxes | 67/77 | €13,574 | €194 | -€13,380 | -98.6% |
| Profit (loss) for the period | 9904 | €92,454 | -€17,161 | -€109,615 | |
| Profit (loss) for the period to be appropriated | 9905 | €92,454 | -€17,161 | -€109,615 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.