LRJ: 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.
LRJ
Largest movements
- Cash +€162,487
up €162,487 (+87.6%), from €185,387 to €347,874
mainly Net result for the year (+€93,085) and Receivables within one year (+€84,219)
- Receivables within one year -€84,219
down €84,219 (-25.5%), from €329,807 to €245,589
of which Trade receivables: -€106,159
- Tangible fixed assets -€43,541
down €43,541 (-7.6%), from €575,315 to €531,774
of which Land and buildings: -€31,355
- Profit (loss) carried forward +€93,085
up €93,085 (+156.5%), from €59,463 to €152,548
- Other debts -€90,250
no longer reported in 2025 (was €90,250)
- Trade debts +€75,424
up €75,424 (+160.3%), from €47,057 to €122,481
- Debts after one year -€37,873
down €37,873 (-13.1%), from €290,112 to €252,239
- Investment grants +€22,685
new in 2025: €22,685
- Gross operating margin -€35,766
down €35,766 (-10.9%), from €328,231 to €292,465
- Taxes -€21,174
down €21,174 (-42.9%), from €49,346 to €28,172
- Depreciation +€4,086
up €4,086 (+6.0%), from €67,841 to €71,927
- Staff costs +€3,798
up €3,798 (+4.3%), from €88,650 to €92,448
- Financial charges -€3,671
down €3,671 (-20.7%), from €17,711 to €14,040
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 | €1,205,320 | €1,254,054 | +€48,734 | +4.0% |
| Fixed assets | 21/28 | €575,394 | €531,853 | -€43,541 | -7.6% |
| Tangible fixed assets | 22/27 | €575,315 | €531,774 | -€43,541 | -7.6% |
| Land and buildings | 22 | €539,575 | €508,220 | -€31,355 | -5.8% |
| Plant, machinery and equipment | 23 | €19,208 | €10,442 | -€8,766 | -45.6% |
| Furniture and vehicles | 24 | €16,532 | €13,111 | -€3,420 | -20.7% |
| Financial fixed assets | 28 | €79 | €79 | = | 0.0% |
| Current assets | 29/58 | €629,926 | €722,202 | +€92,276 | +14.6% |
| Stocks and contracts in progress | 3 | €111,026 | €122,568 | +€11,542 | +10.4% |
| Stocks | 30/36 | €111,026 | €122,568 | +€11,542 | +10.4% |
| Amounts receivable within one year | 40/41 | €329,807 | €245,589 | -€84,219 | -25.5% |
| Trade receivables | 40 | €328,649 | €222,490 | -€106,159 | -32.3% |
| Other amounts receivable | 41 | €1,158 | €23,099 | +€21,940 | +1894.4% |
| Cash at bank and in hand | 54/58 | €185,387 | €347,874 | +€162,487 | +87.6% |
| Deferred charges and accrued income | 490/1 | €3,705 | €6,170 | +€2,465 | +66.5% |
| Total equity and liabilities | 10/49 | €1,205,320 | €1,254,054 | +€48,734 | +4.0% |
| Equity | 10/15 | €720,423 | €836,193 | +€115,770 | +16.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €642,360 | €642,360 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €640,500 | €640,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €59,463 | €152,548 | +€93,085 | +156.5% |
| Investment grants | 15 | - | €22,685 | +€22,685 | |
| Amounts payable | 17/49 | €484,897 | €417,861 | -€67,036 | -13.8% |
| Amounts payable after more than one year | 17 | €290,112 | €252,239 | -€37,873 | -13.1% |
| Financial debts | 170/4 | €290,112 | €252,239 | -€37,873 | -13.1% |
| Amounts payable within one year | 42/48 | €194,785 | €165,529 | -€29,256 | -15.0% |
| Current portion of amounts payable after more than one year | 42 | €36,474 | €37,873 | +€1,400 | +3.8% |
| Trade debts | 44 | €47,057 | €122,481 | +€75,424 | +160.3% |
| Suppliers | 440/4 | €47,057 | €122,481 | +€75,424 | +160.3% |
| Taxes, remuneration and social security | 45 | €21,004 | €5,175 | -€15,829 | -75.4% |
| Taxes | 450/3 | €17,528 | €2,235 | -€15,293 | -87.2% |
| Remuneration and social security | 454/9 | €3,476 | €2,940 | -€536 | -15.4% |
| Other amounts payable | 47/48 | €90,250 | - | -€90,250 | |
| Accrued charges and deferred income | 492/3 | - | €93 | +€93 | |
| Non-recurring operating income | 76A | €200 | €414 | +€214 | +107.0% |
| Remuneration, social security and pensions | 62 | €88,650 | €92,448 | +€3,798 | +4.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,841 | €71,927 | +€4,086 | +6.0% |
| Other operating charges | 640/8 | €5,140 | €4,707 | -€434 | -8.4% |
| Gross operating margin | 9900 | €328,231 | €292,465 | -€35,766 | -10.9% |
| Operating profit (loss) | 9901 | €166,599 | €123,383 | -€43,216 | -25.9% |
| Financial income | 75/76B | €14,154 | €11,914 | -€2,240 | -15.8% |
| Recurring financial income | 75 | €14,154 | €11,914 | -€2,240 | -15.8% |
| Financial charges | 65/66B | €17,711 | €14,040 | -€3,671 | -20.7% |
| Recurring financial charges | 65 | €17,711 | €14,040 | -€3,671 | -20.7% |
| Profit (loss) for the period before taxes | 9903 | €163,042 | €121,257 | -€41,785 | -25.6% |
| Income taxes | 67/77 | €49,346 | €28,172 | -€21,174 | -42.9% |
| Profit (loss) for the period | 9904 | €113,696 | €93,085 | -€20,611 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €113,696 | €93,085 | -€20,611 | -18.1% |
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 10 October 2026 via checked.be.