LRS: 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.
LRS
Largest movements
- Tangible fixed assets -€38,148
down €38,148 (-7.1%), from €540,797 to €502,649
of which Land and buildings: -€38,148
- Receivables within one year -€7,564
down €7,564 (-4.2%), from €179,721 to €172,156
- Debts after one year -€20,814
down €20,814 (-22.9%), from €90,700 to €69,886
of which Financial debts: -€20,814
- Reserves -€14,281
down €14,281 (-3.0%), from €473,259 to €458,978
of which Tax-exempt reserves: -€14,281
- Current portion of long-term debt -€10,776
down €10,776 (-34.1%), from €31,590 to €20,814
- Gross operating margin +€5,427
up €5,427 (+20.7%), from €26,214 to €31,641
- Depreciation -€3,416
down €3,416 (-8.2%), from €41,564 to €38,148
- Financial income -€2,391
no longer reported in 2025 (was €2,391)
- Financial charges +€1,849
up €1,849 (+219.2%), from €843 to €2,692
- Staff costs +€430
new in 2025: €430
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 | €726,016 | €680,437 | -€45,579 | -6.3% |
| Fixed assets | 21/28 | €540,797 | €502,649 | -€38,148 | -7.1% |
| Tangible fixed assets | 22/27 | €540,797 | €502,649 | -€38,148 | -7.1% |
| Land and buildings | 22 | €535,797 | €497,649 | -€38,148 | -7.1% |
| Furniture and vehicles | 24 | €5,000 | €5,000 | = | 0.0% |
| Current assets | 29/58 | €185,219 | €177,788 | -€7,431 | -4.0% |
| Amounts receivable within one year | 40/41 | €179,721 | €172,156 | -€7,564 | -4.2% |
| Other amounts receivable | 41 | €179,721 | €172,156 | -€7,564 | -4.2% |
| Cash at bank and in hand | 54/58 | €401 | €535 | +€134 | +33.3% |
| Deferred charges and accrued income | 490/1 | €5,097 | €5,097 | = | 0.0% |
| Total equity and liabilities | 10/49 | €726,016 | €680,437 | -€45,579 | -6.3% |
| Equity | 10/15 | €303,399 | €291,937 | -€11,462 | -3.8% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €473,259 | €458,978 | -€14,281 | -3.0% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €6,200 | €6,200 | = | 0.0% |
| Tax-exempt reserves | 132 | €330,076 | €315,795 | -€14,281 | -4.3% |
| Distributable reserves | 133 | €136,983 | €136,983 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€231,861 | -€229,041 | +€2,820 | +1.2% |
| Provisions and deferred taxes | 16 | €187,360 | €184,107 | -€3,253 | -1.7% |
| Provisions for liabilities and charges | 160/5 | €12,000 | €12,000 | = | 0.0% |
| Major repairs and maintenance | 162 | €12,000 | €12,000 | = | 0.0% |
| Deferred taxes | 168 | €175,360 | €172,107 | -€3,253 | -1.9% |
| Amounts payable | 17/49 | €235,258 | €204,394 | -€30,864 | -13.1% |
| Amounts payable after more than one year | 17 | €90,700 | €69,886 | -€20,814 | -22.9% |
| Financial debts | 170/4 | €82,308 | €61,495 | -€20,814 | -25.3% |
| Other amounts payable | 178/9 | €8,391 | €8,391 | = | 0.0% |
| Amounts payable within one year | 42/48 | €144,558 | €134,508 | -€10,050 | -7.0% |
| Current portion of amounts payable after more than one year | 42 | €31,590 | €20,814 | -€10,776 | -34.1% |
| Trade debts | 44 | - | €726 | +€726 | |
| Suppliers | 440/4 | - | €726 | +€726 | |
| Other amounts payable | 47/48 | €112,968 | €112,968 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €0 | €0 | = | |
| Remuneration, social security and pensions | 62 | - | €430 | +€430 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €41,564 | €38,148 | -€3,416 | -8.2% |
| Other operating charges | 640/8 | €5,019 | €5,085 | +€66 | +1.3% |
| Gross operating margin | 9900 | €26,214 | €31,641 | +€5,427 | +20.7% |
| Operating profit (loss) | 9901 | -€20,369 | -€12,022 | +€8,347 | +41.0% |
| Financial income | 75/76B | €2,391 | - | -€2,391 | |
| Recurring financial income | 75 | €2,391 | - | -€2,391 | |
| Financial charges | 65/66B | €843 | €2,692 | +€1,849 | +219.2% |
| Recurring financial charges | 65 | €843 | €2,692 | +€1,849 | +219.2% |
| Profit (loss) for the period before taxes | 9903 | -€18,822 | -€14,715 | +€4,108 | +21.8% |
| Transfer from deferred taxes | 780 | €3,253 | €3,253 | = | 0.0% |
| Profit (loss) for the period | 9904 | -€15,569 | -€11,462 | +€4,108 | +26.4% |
| Transfer from tax-exempt reserves | 789 | €13,012 | €14,281 | +€1,270 | +9.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€2,558 | €2,820 | +€5,377 |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 October 2026 via checked.be.