LS PROJECTS: 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 PROJECTS
Largest movements
- Receivables within one year -€96,163
down €96,163 (-37.8%), from €254,557 to €158,394
of which Other amounts receivable: -€99,069
- Tangible fixed assets +€13,280
new in 2025: €13,280
- Cash -€13,170
down €13,170 (-17.7%), from €74,544 to €61,374
mainly Contributions, distributions and other (-€140,000) and Investment in fixed assets (net) (-€13,803)
- Profit (loss) carried forward -€85,572
down €85,572 (-28.6%), from €299,448 to €213,877
- Other debts -€10,887
down €10,887 (-47.2%), from €23,089 to €12,202
- Gross operating margin -€28,308
down €28,308 (-30.0%), from €94,481 to €66,173
- Financial income +€10,508
new in 2025: €10,508
- Other operating charges +€1,229
up €1,229 (+246.1%), from €499 to €1,728
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 | €329,101 | €233,048 | -€96,053 | -29.2% |
| Fixed assets | 21/28 | - | €13,280 | +€13,280 | |
| Tangible fixed assets | 22/27 | - | €13,280 | +€13,280 | |
| Other tangible fixed assets | 26 | - | €13,280 | +€13,280 | |
| Current assets | 29/58 | €329,101 | €219,768 | -€109,333 | -33.2% |
| Amounts receivable within one year | 40/41 | €254,557 | €158,394 | -€96,163 | -37.8% |
| Trade receivables | 40 | €22,466 | €25,372 | +€2,906 | +12.9% |
| Other amounts receivable | 41 | €232,091 | €133,022 | -€99,069 | -42.7% |
| Cash at bank and in hand | 54/58 | €74,544 | €61,374 | -€13,170 | -17.7% |
| Total equity and liabilities | 10/49 | €329,101 | €233,048 | -€96,053 | -29.2% |
| Equity | 10/15 | €304,448 | €218,877 | -€85,572 | -28.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €299,448 | €213,877 | -€85,572 | -28.6% |
| Amounts payable | 17/49 | €24,652 | €14,171 | -€10,481 | -42.5% |
| Amounts payable within one year | 42/48 | €24,652 | €14,171 | -€10,481 | -42.5% |
| Trade debts | 44 | - | €267 | +€267 | |
| Suppliers | 440/4 | - | €267 | +€267 | |
| Taxes, remuneration and social security | 45 | €1,563 | €1,702 | +€139 | +8.9% |
| Taxes | 450/3 | €1,563 | €1,702 | +€139 | +8.9% |
| Other amounts payable | 47/48 | €23,089 | €12,202 | -€10,887 | -47.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €523 | +€523 | |
| Other operating charges | 640/8 | €499 | €1,728 | +€1,229 | +246.1% |
| Gross operating margin | 9900 | €94,481 | €66,173 | -€28,308 | -30.0% |
| Operating profit (loss) | 9901 | €93,982 | €63,921 | -€30,060 | -32.0% |
| Financial income | 75/76B | - | €10,508 | +€10,508 | |
| Recurring financial income | 75 | - | €10,508 | +€10,508 | |
| Financial charges | 65/66B | €1,478 | €1,315 | -€164 | -11.1% |
| Recurring financial charges | 65 | €1,478 | €1,315 | -€164 | -11.1% |
| Profit (loss) for the period before taxes | 9903 | €92,504 | €73,115 | -€19,389 | -21.0% |
| Income taxes | 67/77 | €19,250 | €18,687 | -€564 | -2.9% |
| Profit (loss) for the period | 9904 | €73,253 | €54,428 | -€18,825 | -25.7% |
| Profit (loss) for the period to be appropriated | 9905 | €73,253 | €54,428 | -€18,825 | -25.7% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.