LRN: 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.
LRN
Largest movements
- Cash -€26,078
down €26,078 (-30.4%), from €85,650 to €59,571
mainly Contributions, distributions and other (-€120,636) and Investment in fixed assets (net) (-€5,250)
- Receivables within one year -€3,409
down €3,409 (-23.4%), from €14,563 to €11,153
of which Trade receivables: -€3,766
- Tangible fixed assets +€2,148
up €2,148 (+27.4%), from €7,850 to €9,998
of which Other tangible fixed assets: +€3,988
- Profit (loss) carried forward -€85,443
no longer reported in 2025 (was €85,443)
- Other debts +€60,767
up €60,767 (+4341.5%), from €1,400 to €62,167
- Tax, wage and social debts -€2,837
down €2,837 (-15.3%), from €18,551 to €15,714
- Gross operating margin -€11,527
down €11,527 (-19.1%), from €60,339 to €48,812
- Taxes -€2,352
down €2,352 (-19.6%), from €11,995 to €9,644
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 | €108,062 | €80,722 | -€27,339 | -25.3% |
| Fixed assets | 21/28 | €7,850 | €9,998 | +€2,148 | +27.4% |
| Tangible fixed assets | 22/27 | €7,850 | €9,998 | +€2,148 | +27.4% |
| Plant, machinery and equipment | 23 | €2,515 | €1,007 | -€1,508 | -59.9% |
| Furniture and vehicles | 24 | €332 | - | -€332 | |
| Other tangible fixed assets | 26 | €5,003 | €8,991 | +€3,988 | +79.7% |
| Current assets | 29/58 | €100,212 | €70,724 | -€29,488 | -29.4% |
| Amounts receivable within one year | 40/41 | €14,563 | €11,153 | -€3,409 | -23.4% |
| Trade receivables | 40 | €14,563 | €10,797 | -€3,766 | -25.9% |
| Other amounts receivable | 41 | - | €356 | +€356 | |
| Cash at bank and in hand | 54/58 | €85,650 | €59,571 | -€26,078 | -30.4% |
| Total equity and liabilities | 10/49 | €108,062 | €80,722 | -€27,339 | -25.3% |
| Equity | 10/15 | €87,443 | €2,000 | -€85,443 | -97.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €85,443 | - | -€85,443 | |
| Amounts payable | 17/49 | €20,619 | €78,722 | +€58,104 | +281.8% |
| Amounts payable within one year | 42/48 | €20,619 | €78,722 | +€58,104 | +281.8% |
| Trade debts | 44 | €668 | €841 | +€173 | +25.9% |
| Suppliers | 440/4 | €668 | €841 | +€173 | +25.9% |
| Taxes, remuneration and social security | 45 | €18,551 | €15,714 | -€2,837 | -15.3% |
| Taxes | 450/3 | €18,551 | €15,714 | -€2,837 | -15.3% |
| Other amounts payable | 47/48 | €1,400 | €62,167 | +€60,767 | +4341.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,813 | €3,102 | +€289 | +10.3% |
| Other operating charges | 640/8 | €569 | €829 | +€259 | +45.6% |
| Gross operating margin | 9900 | €60,339 | €48,812 | -€11,527 | -19.1% |
| Operating profit (loss) | 9901 | €56,957 | €44,882 | -€12,075 | -21.2% |
| Financial income | 75/76B | €0 | €14 | +€14 | +6733.3% |
| Recurring financial income | 75 | €0 | €14 | +€14 | +6733.3% |
| Financial charges | 65/66B | €91 | €59 | -€31 | -34.4% |
| Recurring financial charges | 65 | €91 | €59 | -€31 | -34.4% |
| Profit (loss) for the period before taxes | 9903 | €56,867 | €44,837 | -€12,030 | -21.2% |
| Income taxes | 67/77 | €11,995 | €9,644 | -€2,352 | -19.6% |
| Profit (loss) for the period | 9904 | €44,871 | €35,193 | -€9,678 | -21.6% |
| Profit (loss) for the period to be appropriated | 9905 | €44,871 | €35,193 | -€9,678 | -21.6% |
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 7 October 2026 via checked.be.