LS & S: 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 & S
Largest movements
- Tangible fixed assets -€2,964
down €2,964 (-13.5%), from €22,030 to €19,066
- Cash +€1,947
up €1,947 (+154%), from €1,264 to €3,211
mainly Net result for the year (+€31,313) and Depreciation (+€2,964)
- Stocks and contracts +€799
up €799 (+43.2%), from €1,851 to €2,650
- Profit (loss) carried forward +€31,313
up €31,313 (+20.5%), from -€152,424 to -€121,111
- Other debts -€24,581
down €24,581 (-16.7%), from €147,049 to €122,468
- Tax, wage and social debts -€4,306
down €4,306 (-55.0%), from €7,828 to €3,522
- Trade debts -€2,464
down €2,464 (-60.2%), from €4,093 to €1,629
- Gross operating margin +€63,338
up €63,338, from -€28,198 to €35,140
- Depreciation +€857
up €857 (+40.7%), from €2,107 to €2,964
- Other operating charges -€356
down €356 (-47.6%), from €748 to €392
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 | €25,145 | €25,107 | -€38 | -0.2% |
| Fixed assets | 21/28 | €22,030 | €19,246 | -€2,784 | -12.6% |
| Tangible fixed assets | 22/27 | €22,030 | €19,066 | -€2,964 | -13.5% |
| Land and buildings | 22 | €22,030 | €19,066 | -€2,964 | -13.5% |
| Financial fixed assets | 28 | - | €180 | +€180 | |
| Current assets | 29/58 | €3,115 | €5,861 | +€2,746 | +88.2% |
| Stocks and contracts in progress | 3 | €1,851 | €2,650 | +€799 | +43.2% |
| Stocks | 30/36 | €1,851 | €2,650 | +€799 | +43.2% |
| Cash at bank and in hand | 54/58 | €1,264 | €3,211 | +€1,947 | +154% |
| Total equity and liabilities | 10/49 | €25,145 | €25,107 | -€38 | -0.2% |
| Equity | 10/15 | -€133,824 | -€102,511 | +€31,313 | +23.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€152,424 | -€121,111 | +€31,313 | +20.5% |
| Amounts payable | 17/49 | €158,969 | €127,619 | -€31,350 | -19.7% |
| Amounts payable within one year | 42/48 | €158,969 | €127,619 | -€31,350 | -19.7% |
| Trade debts | 44 | €4,093 | €1,629 | -€2,464 | -60.2% |
| Suppliers | 440/4 | €4,093 | €1,629 | -€2,464 | -60.2% |
| Taxes, remuneration and social security | 45 | €7,828 | €3,522 | -€4,306 | -55.0% |
| Taxes | 450/3 | €7,828 | €3,522 | -€4,306 | -55.0% |
| Other amounts payable | 47/48 | €147,049 | €122,468 | -€24,581 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,107 | €2,964 | +€857 | +40.7% |
| Other operating charges | 640/8 | €748 | €392 | -€356 | -47.6% |
| Gross operating margin | 9900 | -€28,198 | €35,140 | +€63,338 | |
| Operating profit (loss) | 9901 | -€31,053 | €31,784 | +€62,837 | |
| Financial charges | 65/66B | €475 | €471 | -€4 | -0.8% |
| Recurring financial charges | 65 | €475 | €471 | -€4 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | -€31,528 | €31,313 | +€62,841 | |
| Profit (loss) for the period | 9904 | -€31,528 | €31,313 | +€62,841 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,528 | €31,313 | +€62,841 |
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.