LS42: 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.
LS42
Largest movements
- Current investments -€141,631
down €141,631 (-51.4%), from €275,624 to €133,993
- Cash -€12,634
down €12,634 (-96.4%), from €13,102 to €468
mainly Net result for the year (-€170,449) and Current portion of long-term debt (-€20,608)
- Tangible fixed assets -€3,543
down €3,543 (-75.1%), from €4,715 to €1,172
of which Furniture and vehicles: -€3,025
- Profit (loss) carried forward -€170,449
down €170,449 (-160.1%), from -€106,473 to -€276,923
- Other debts +€42,938
up €42,938 (+377.2%), from €11,383 to €54,322
- Current portion of long-term debt -€20,608
down €20,608 (-100.0%), from €20,608 to €0
- Reserves -€11,050
down €11,050 (-3.0%), from €365,610 to €354,560
- Financial income -€90,347
down €90,347 (-94.5%), from €95,624 to €5,277
- Financial charges +€25,703
up €25,703 (+3381.9%), from €760 to €26,463
- Gross operating margin -€17,696
down €17,696 (-13.9%), from -€127,320 to -€145,017
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 | €297,714 | €138,601 | -€159,112 | -53.4% |
| Fixed assets | 21/28 | €4,715 | €1,172 | -€3,543 | -75.1% |
| Tangible fixed assets | 22/27 | €4,715 | €1,172 | -€3,543 | -75.1% |
| Land and buildings | 22 | €1,037 | €519 | -€518 | -50.0% |
| Furniture and vehicles | 24 | €3,678 | €653 | -€3,025 | -82.2% |
| Current assets | 29/58 | €292,999 | €137,430 | -€155,569 | -53.1% |
| Amounts receivable within one year | 40/41 | €1,440 | €529 | -€912 | -63.3% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,440 | €529 | -€912 | -63.3% |
| Current investments | 50/53 | €275,624 | €133,993 | -€141,631 | -51.4% |
| Cash at bank and in hand | 54/58 | €13,102 | €468 | -€12,634 | -96.4% |
| Deferred charges and accrued income | 490/1 | €2,833 | €2,440 | -€393 | -13.9% |
| Total equity and liabilities | 10/49 | €297,714 | €138,601 | -€159,112 | -53.4% |
| Equity | 10/15 | €265,337 | €83,838 | -€181,499 | -68.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €365,610 | €354,560 | -€11,050 | -3.0% |
| Distributable reserves | 133 | €365,610 | €354,560 | -€11,050 | -3.0% |
| Profit (loss) carried forward | 14 | -€106,473 | -€276,923 | -€170,449 | -160.1% |
| Amounts payable | 17/49 | €32,377 | €54,764 | +€22,387 | +69.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €32,377 | €54,764 | +€22,387 | +69.1% |
| Current portion of amounts payable after more than one year | 42 | €20,608 | €0 | -€20,608 | -100.0% |
| Trade debts | 44 | €150 | €258 | +€108 | +71.7% |
| Suppliers | 440/4 | €150 | €258 | +€108 | +71.7% |
| Taxes, remuneration and social security | 45 | €235 | €184 | -€51 | -21.7% |
| Taxes | 450/3 | €235 | €184 | -€51 | -21.7% |
| Other amounts payable | 47/48 | €11,383 | €54,322 | +€42,938 | +377.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,543 | €3,543 | = | 0.0% |
| Other operating charges | 640/8 | €505 | €520 | +€14 | +2.8% |
| Gross operating margin | 9900 | -€127,320 | -€145,017 | -€17,696 | -13.9% |
| Operating profit (loss) | 9901 | -€131,369 | -€149,079 | -€17,711 | -13.5% |
| Financial income | 75/76B | €95,624 | €5,277 | -€90,347 | -94.5% |
| Recurring financial income | 75 | €95,624 | €5,277 | -€90,347 | -94.5% |
| Financial charges | 65/66B | €760 | €26,463 | +€25,703 | +3381.9% |
| Recurring financial charges | 65 | €760 | €26,463 | +€25,703 | +3381.9% |
| Profit (loss) for the period before taxes | 9903 | -€36,505 | -€170,265 | -€133,760 | -366.4% |
| Income taxes | 67/77 | €235 | €184 | -€51 | -21.7% |
| Profit (loss) for the period | 9904 | -€36,740 | -€170,449 | -€133,709 | -363.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€36,740 | -€170,449 | -€133,709 | -363.9% |
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 4 October 2026 via checked.be.