LS BUILD: 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.
LS BUILD
Largest movements
- Receivables within one year -€21,969
down €21,969 (-44.6%), from €49,240 to €27,271
of which Trade receivables: -€23,669
- Cash -€18,730
down €18,730 (-24.1%), from €77,603 to €58,873
mainly Contributions, distributions and other (-€30,000) and Other debts (-€23,590)
- Deferred charges and accrued income +€4,159
up €4,159 (+446.8%), from €931 to €5,090
- Other debts -€23,590
down €23,590 (-79.0%), from €29,847 to €6,257
- Reserves -€10,738
down €10,738 (-19.5%), from €55,042 to €44,305
- Tax, wage and social debts -€7,927
down €7,927 (-24.9%), from €31,822 to €23,894
of which Taxes: -€7,927
- Current portion of long-term debt +€4,000
up €4,000 (+66.7%), from €6,000 to €10,000
- Gross operating margin -€26,328
down €26,328 (-46.2%), from €56,966 to €30,637
- Taxes -€6,258
down €6,258 (-43.0%), from €14,547 to €8,290
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 | €131,227 | €93,376 | -€37,851 | -28.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €3,453 | €2,142 | -€1,312 | -38.0% |
| Tangible fixed assets | 22/27 | €3,158 | €1,847 | -€1,312 | -41.5% |
| Furniture and vehicles | 24 | €3,158 | €1,847 | -€1,312 | -41.5% |
| Financial fixed assets | 28 | €295 | €295 | = | 0.0% |
| Current assets | 29/58 | €127,773 | €91,234 | -€36,539 | -28.6% |
| Amounts receivable within one year | 40/41 | €49,240 | €27,271 | -€21,969 | -44.6% |
| Trade receivables | 40 | €49,229 | €25,560 | -€23,669 | -48.1% |
| Other amounts receivable | 41 | €10 | €1,710 | +€1,700 | +16600.7% |
| Cash at bank and in hand | 54/58 | €77,603 | €58,873 | -€18,730 | -24.1% |
| Deferred charges and accrued income | 490/1 | €931 | €5,090 | +€4,159 | +446.8% |
| Total equity and liabilities | 10/49 | €131,227 | €93,376 | -€37,851 | -28.8% |
| Equity | 10/15 | €58,042 | €47,305 | -€10,738 | -18.5% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €55,042 | €44,305 | -€10,738 | -19.5% |
| Distributable reserves | 133 | €55,042 | €44,305 | -€10,738 | -19.5% |
| Amounts payable | 17/49 | €73,185 | €46,071 | -€27,113 | -37.0% |
| Amounts payable within one year | 42/48 | €73,185 | €46,071 | -€27,113 | -37.0% |
| Current portion of amounts payable after more than one year | 42 | €6,000 | €10,000 | +€4,000 | +66.7% |
| Trade debts | 44 | €5,515 | €5,919 | +€404 | +7.3% |
| Suppliers | 440/4 | €5,515 | €5,919 | +€404 | +7.3% |
| Taxes, remuneration and social security | 45 | €31,822 | €23,894 | -€7,927 | -24.9% |
| Taxes | 450/3 | €31,822 | €23,894 | -€7,927 | -24.9% |
| Remuneration and social security | 454/9 | €0 | €0 | = | |
| Other amounts payable | 47/48 | €29,847 | €6,257 | -€23,590 | -79.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,059 | €1,312 | +€253 | +23.9% |
| Other operating charges | 640/8 | €679 | €1,186 | +€507 | +74.6% |
| Gross operating margin | 9900 | €56,966 | €30,637 | -€26,328 | -46.2% |
| Operating profit (loss) | 9901 | €55,228 | €28,139 | -€27,088 | -49.0% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €862 | €587 | -€275 | -31.9% |
| Recurring financial charges | 65 | €862 | €587 | -€275 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €54,366 | €27,552 | -€26,814 | -49.3% |
| Income taxes | 67/77 | €14,547 | €8,290 | -€6,258 | -43.0% |
| Profit (loss) for the period | 9904 | €39,819 | €19,262 | -€20,557 | -51.6% |
| Profit (loss) for the period to be appropriated | 9905 | €39,819 | €19,262 | -€20,557 | -51.6% |
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 3 October 2026 via checked.be.