LS: 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.
LS
Largest movements
- Receivables within one year -€20,169
down €20,169 (-38.1%), from €52,943 to €32,774
of which Trade receivables: -€24,791
- Cash -€9,758
down €9,758 (-33.1%), from €29,501 to €19,743
mainly Other debts (-€30,301) and Net result for the year (-€8,192)
- Intangible fixed assets -€8,000
down €8,000 (-25.0%), from €32,000 to €24,000
- Tangible fixed assets -€2,144
down €2,144 (-48.2%), from €4,452 to €2,308
- Other debts -€30,301
down €30,301 (-67.3%), from €44,993 to €14,692
- Profit (loss) carried forward -€9,051
down €9,051 (-33.8%), from €26,794 to €17,743
- Advances received +€7,285
new in 2025: €7,285
- Trade debts -€6,785
down €6,785 (-21.7%), from €31,315 to €24,530
- Tax, wage and social debts -€2,382
down €2,382 (-15.6%), from €15,246 to €12,864
of which Taxes: -€2,382
- Gross operating margin -€51,558
down €51,558 (-93.6%), from €55,100 to €3,542
- Taxes -€7,836
down €7,836 (-81.6%), from €9,599 to €1,763
- Write-downs -€6,200
down €6,200, from €3,100 to -€3,100
- Depreciation -€833
down €833 (-7.3%), from €11,431 to €10,598
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 | €121,349 | €80,114 | -€41,235 | -34.0% |
| Formation expenses | 20 | €454 | - | -€454 | |
| Fixed assets | 21/28 | €36,452 | €26,308 | -€10,144 | -27.8% |
| Intangible fixed assets | 21 | €32,000 | €24,000 | -€8,000 | -25.0% |
| Tangible fixed assets | 22/27 | €4,452 | €2,308 | -€2,144 | -48.2% |
| Plant, machinery and equipment | 23 | €4,452 | €2,308 | -€2,144 | -48.2% |
| Current assets | 29/58 | €84,444 | €53,806 | -€30,637 | -36.3% |
| Amounts receivable within one year | 40/41 | €52,943 | €32,774 | -€20,169 | -38.1% |
| Trade receivables | 40 | €52,943 | €28,152 | -€24,791 | -46.8% |
| Other amounts receivable | 41 | - | €4,622 | +€4,622 | |
| Cash at bank and in hand | 54/58 | €29,501 | €19,743 | -€9,758 | -33.1% |
| Deferred charges and accrued income | 490/1 | €2,000 | €1,289 | -€710 | -35.5% |
| Total equity and liabilities | 10/49 | €121,349 | €80,114 | -€41,235 | -34.0% |
| Equity | 10/15 | €29,794 | €20,743 | -€9,051 | -30.4% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €26,794 | €17,743 | -€9,051 | -33.8% |
| Amounts payable | 17/49 | €91,555 | €59,371 | -€32,184 | -35.2% |
| Amounts payable within one year | 42/48 | €91,555 | €59,371 | -€32,184 | -35.2% |
| Trade debts | 44 | €31,315 | €24,530 | -€6,785 | -21.7% |
| Suppliers | 440/4 | €31,315 | €24,530 | -€6,785 | -21.7% |
| Advances received on contracts in progress | 46 | - | €7,285 | +€7,285 | |
| Taxes, remuneration and social security | 45 | €15,246 | €12,864 | -€2,382 | -15.6% |
| Taxes | 450/3 | €14,046 | €11,664 | -€2,382 | -17.0% |
| Remuneration and social security | 454/9 | €1,200 | €1,200 | = | 0.0% |
| Other amounts payable | 47/48 | €44,993 | €14,692 | -€30,301 | -67.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,431 | €10,598 | -€833 | -7.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €3,100 | -€3,100 | -€6,200 | |
| Other operating charges | 640/8 | €1,327 | €779 | -€548 | -41.3% |
| Gross operating margin | 9900 | €55,100 | €3,542 | -€51,558 | -93.6% |
| Operating profit (loss) | 9901 | €39,243 | -€4,734 | -€43,977 | |
| Financial charges | 65/66B | €2,016 | €1,694 | -€322 | -16.0% |
| Recurring financial charges | 65 | €2,016 | €1,694 | -€322 | -16.0% |
| Profit (loss) for the period before taxes | 9903 | €37,226 | -€6,429 | -€43,655 | |
| Income taxes | 67/77 | €9,599 | €1,763 | -€7,836 | -81.6% |
| Profit (loss) for the period | 9904 | €27,627 | -€8,192 | -€35,819 | |
| Profit (loss) for the period to be appropriated | 9905 | €27,627 | -€8,192 | -€35,819 |
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 15 October 2026 via checked.be.