LS Global: 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 Global
Largest movements
- Receivables within one year -€297,260
down €297,260 (-47.1%), from €631,766 to €334,506
of which Trade receivables: -€314,427
- Stocks and contracts +€183,859
up €183,859 (+196.6%), from €93,500 to €277,359
- Cash +€172,414
up €172,414 (+1588.3%), from €10,856 to €183,270
mainly Receivables within one year (+€297,260) and Net result for the year (+€218,787)
- Tangible fixed assets -€36,043
down €36,043 (-8.5%), from €422,124 to €386,082
of which Land and buildings: -€23,425
- Trade debts -€239,572
down €239,572 (-75.1%), from €319,090 to €79,518
- Reserves +€218,787
up €218,787 (+43.7%), from €501,013 to €719,800
- Tax, wage and social debts +€62,752
up €62,752 (+134.0%), from €46,837 to €109,589
of which Taxes: +€48,054
- Debts after one year -€19,374
down €19,374 (-7.6%), from €253,713 to €234,339
- Gross operating margin +€173,615
up €173,615 (+67.9%), from €255,866 to €429,481
- Taxes +€37,765
up €37,765 (+92.9%), from €40,638 to €78,404
- Staff costs +€25,772
up €25,772 (+37.2%), from €69,356 to €95,128
- Financial income +€12,404
up €12,404 (+12403610.0%), from €0 to €12,404
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 | €1,159,784 | €1,182,755 | +€22,971 | +2.0% |
| Fixed assets | 21/28 | €422,124 | €386,082 | -€36,043 | -8.5% |
| Tangible fixed assets | 22/27 | €422,124 | €386,082 | -€36,043 | -8.5% |
| Land and buildings | 22 | €390,597 | €367,173 | -€23,425 | -6.0% |
| Plant, machinery and equipment | 23 | €6,179 | €4,529 | -€1,650 | -26.7% |
| Furniture and vehicles | 24 | €25,348 | €14,380 | -€10,968 | -43.3% |
| Current assets | 29/58 | €737,659 | €796,673 | +€59,014 | +8.0% |
| Stocks and contracts in progress | 3 | €93,500 | €277,359 | +€183,859 | +196.6% |
| Stocks | 30/36 | €93,500 | €277,359 | +€183,859 | +196.6% |
| Amounts receivable within one year | 40/41 | €631,766 | €334,506 | -€297,260 | -47.1% |
| Trade receivables | 40 | €584,546 | €270,119 | -€314,427 | -53.8% |
| Other amounts receivable | 41 | €47,220 | €64,387 | +€17,167 | +36.4% |
| Cash at bank and in hand | 54/58 | €10,856 | €183,270 | +€172,414 | +1588.3% |
| Deferred charges and accrued income | 490/1 | €1,538 | €1,538 | = | 0.0% |
| Total equity and liabilities | 10/49 | €1,159,784 | €1,182,755 | +€22,971 | +2.0% |
| Equity | 10/15 | €519,613 | €738,400 | +€218,787 | +42.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €501,013 | €719,800 | +€218,787 | +43.7% |
| Distributable reserves | 133 | €501,013 | €719,800 | +€218,787 | +43.7% |
| Amounts payable | 17/49 | €640,171 | €444,355 | -€195,815 | -30.6% |
| Amounts payable after more than one year | 17 | €253,713 | €234,339 | -€19,374 | -7.6% |
| Financial debts | 170/4 | €253,713 | €234,339 | -€19,374 | -7.6% |
| Amounts payable within one year | 42/48 | €386,458 | €210,016 | -€176,441 | -45.7% |
| Current portion of amounts payable after more than one year | 42 | €20,531 | €20,910 | +€379 | +1.8% |
| Trade debts | 44 | €319,090 | €79,518 | -€239,572 | -75.1% |
| Suppliers | 440/4 | €319,090 | €79,518 | -€239,572 | -75.1% |
| Taxes, remuneration and social security | 45 | €46,837 | €109,589 | +€62,752 | +134.0% |
| Taxes | 450/3 | €33,876 | €81,930 | +€48,054 | +141.9% |
| Remuneration and social security | 454/9 | €12,961 | €27,659 | +€14,698 | +113.4% |
| Other amounts payable | 47/48 | €0 | €0 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €69,356 | €95,128 | +€25,772 | +37.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,783 | €39,279 | +€2,496 | +6.8% |
| Other operating charges | 640/8 | €1,849 | €1,388 | -€461 | -24.9% |
| Non-recurring operating charges | 66A | - | €575 | +€575 | |
| Gross operating margin | 9900 | €255,866 | €429,481 | +€173,615 | +67.9% |
| Operating profit (loss) | 9901 | €147,879 | €293,111 | +€145,232 | +98.2% |
| Financial income | 75/76B | €0 | €12,404 | +€12,404 | +12403610.0% |
| Recurring financial income | 75 | €0 | €12,404 | +€12,404 | +12403610.0% |
| Financial charges | 65/66B | €7,482 | €8,324 | +€843 | +11.3% |
| Recurring financial charges | 65 | €7,482 | €8,324 | +€843 | +11.3% |
| Profit (loss) for the period before taxes | 9903 | €140,397 | €297,190 | +€156,793 | +111.7% |
| Income taxes | 67/77 | €40,638 | €78,404 | +€37,765 | +92.9% |
| Profit (loss) for the period | 9904 | €99,759 | €218,787 | +€119,028 | +119.3% |
| Profit (loss) for the period to be appropriated | 9905 | €99,759 | €218,787 | +€119,028 | +119.3% |
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 5 October 2026 via checked.be.