LR PROJECT: 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 PROJECT
Largest movements
- Tangible fixed assets -€19,205
down €19,205 (-27.2%), from €70,650 to €51,445
of which Furniture and vehicles: -€17,296
- Cash -€4,925
down €4,925 (-7.6%), from €64,432 to €59,506
mainly Debts after one year (-€15,537) and Contributions, distributions and other (-€9,293)
- Debts after one year -€15,537
down €15,537 (-45.0%), from €34,562 to €19,025
- Tax, wage and social debts -€7,921
down €7,921 (-36.5%), from €21,697 to €13,777
of which Taxes: -€10,495
- Other debts -€2,182
down €2,182 (-6.3%), from €34,743 to €32,561
- Gross operating margin -€18,593
down €18,593 (-35.1%), from €52,933 to €34,340
- Taxes -€3,771
down €3,771 (-57.5%), from €6,557 to €2,786
- Financial income -€794
down €794 (-97.7%), from €813 to €19
- Financial charges -€576
down €576 (-21.1%), from €2,722 to €2,146
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 | €163,236 | €137,330 | -€25,906 | -15.9% |
| Fixed assets | 21/28 | €70,800 | €51,595 | -€19,205 | -27.1% |
| Tangible fixed assets | 22/27 | €70,650 | €51,445 | -€19,205 | -27.2% |
| Furniture and vehicles | 24 | €53,403 | €36,108 | -€17,296 | -32.4% |
| Other tangible fixed assets | 26 | €17,247 | €15,337 | -€1,910 | -11.1% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €92,436 | €85,735 | -€6,701 | -7.2% |
| Amounts receivable within one year | 40/41 | €27,191 | €26,229 | -€963 | -3.5% |
| Trade receivables | 40 | €12,100 | €13,960 | +€1,860 | +15.4% |
| Other amounts receivable | 41 | €15,091 | €12,268 | -€2,823 | -18.7% |
| Cash at bank and in hand | 54/58 | €64,432 | €59,506 | -€4,925 | -7.6% |
| Deferred charges and accrued income | 490/1 | €813 | - | -€813 | |
| Total equity and liabilities | 10/49 | €163,236 | €137,330 | -€25,906 | -15.9% |
| Equity | 10/15 | €54,891 | €54,891 | = | 0.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €49,891 | €49,891 | = | 0.0% |
| Distributable reserves | 133 | €49,891 | €49,891 | = | 0.0% |
| Amounts payable | 17/49 | €108,345 | €82,439 | -€25,906 | -23.9% |
| Amounts payable after more than one year | 17 | €34,562 | €19,025 | -€15,537 | -45.0% |
| Financial debts | 170/4 | €34,562 | €19,025 | -€15,537 | -45.0% |
| Amounts payable within one year | 42/48 | €73,382 | €63,414 | -€9,968 | -13.6% |
| Current portion of amounts payable after more than one year | 42 | €14,859 | €15,537 | +€678 | +4.6% |
| Trade debts | 44 | €2,082 | €1,539 | -€543 | -26.1% |
| Suppliers | 440/4 | €2,082 | €1,539 | -€543 | -26.1% |
| Taxes, remuneration and social security | 45 | €21,697 | €13,777 | -€7,921 | -36.5% |
| Taxes | 450/3 | €19,197 | €8,702 | -€10,495 | -54.7% |
| Remuneration and social security | 454/9 | €2,500 | €5,074 | +€2,574 | +103% |
| Other amounts payable | 47/48 | €34,743 | €32,561 | -€2,182 | -6.3% |
| Accrued charges and deferred income | 492/3 | €401 | - | -€401 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,914 | €19,205 | +€291 | +1.5% |
| Other operating charges | 640/8 | €899 | €928 | +€30 | +3.3% |
| Gross operating margin | 9900 | €52,933 | €34,340 | -€18,593 | -35.1% |
| Operating profit (loss) | 9901 | €33,121 | €14,207 | -€18,914 | -57.1% |
| Financial income | 75/76B | €813 | €19 | -€794 | -97.7% |
| Recurring financial income | 75 | €813 | €19 | -€794 | -97.7% |
| Financial charges | 65/66B | €2,722 | €2,146 | -€576 | -21.1% |
| Recurring financial charges | 65 | €2,722 | €2,146 | -€576 | -21.1% |
| Profit (loss) for the period before taxes | 9903 | €31,212 | €12,079 | -€19,133 | -61.3% |
| Income taxes | 67/77 | €6,557 | €2,786 | -€3,771 | -57.5% |
| Profit (loss) for the period | 9904 | €24,654 | €9,293 | -€15,361 | -62.3% |
| Profit (loss) for the period to be appropriated | 9905 | €24,654 | €9,293 | -€15,361 | -62.3% |
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 27 October 2026 via checked.be.