LS44: 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.
What changed
LS44
NACE 69.102, Activities of notaries
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€190,845
2024 · -€177,245-€13,599
Equity
€1.2m
2024 · €1.4m-€190,845
Cash
€24,386
2024 · €114,547-€90,160
Balance sheet total
€13.1m
2024 · €13.0m+€164,815
Largest movements
Assets
- Receivables within one year +€1.1m
up €1.1m (+13.7%), from €7.9m to €8.9m
of which Other amounts receivable: +€1.1m
- Stocks and contracts -€837,569
down €837,569 (-44.7%), from €1.9m to €1.0m
Equity and liabilities
- Other debts +€1.3m
up €1.3m (+26.4%), from €4.9m to €6.2m
- Short-term financial debts -€777,507
down €777,507 (-18.7%), from €4.2m to €3.4m
Income statement
- Gross operating margin +€22,773
up €22,773 (+10.5%), from €217,614 to €240,387
- Financial income -€19,928
down €19,928 (-16.7%), from €119,260 to €99,332
- Other operating charges +€9,664
up €9,664 (+40.5%), from €23,891 to €33,555
- Depreciation +€9,000
up €9,000 (+10.0%), from €90,088 to €99,089
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.
Result 2024
-€177,245
Gross operating margin
+€22,773
Depreciation
-€9,000
Other operating charges
-€9,664
Financial income
-€19,928
Financial charges
+€2,217
Taxes
+€3
Result 2025
-€190,845
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.
From operations
+€929,303
Investment
-€123,538
Financing
-€895,925
Cash 2024
€114,547
From operations (derived)
+€929,303
Net result for the year
-€190,845
Depreciation
+€99,089
Stocks and contracts
+€837,569
Receivables within one year
-€1.1m
Deferred charges and accrued income
+€9,667
Provisions
-€112,987
Trade debts
+€13,964
Other debts
+€1.3m
Accrued charges and deferred income
+€60,410
Investment (derived)
-€123,538
Investment in fixed assets (net)
-€123,538
Financing
-€895,925
Debts after one year
-€122,844
Current portion of long-term debt
+€4,426
Short-term financial debts
-€777,507
Cash 2025
€24,386
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €12,951,066 | €13,115,881 | +€164,815 | +1.3% |
| Fixed assets | 21/28 | €3,084,965 | €3,109,414 | +€24,450 | +0.8% |
| Tangible fixed assets | 22/27 | €3,083,725 | €3,109,414 | +€25,689 | +0.8% |
| Land and buildings | 22 | €3,081,292 | €3,107,841 | +€26,549 | +0.9% |
| Furniture and vehicles | 24 | €2,433 | €1,573 | -€860 | -35.3% |
| Financial fixed assets | 28 | €1,239 | €0 | -€1,239 | -100.0% |
| Current assets | 29/58 | €9,866,101 | €10,006,467 | +€140,366 | +1.4% |
| Stocks and contracts in progress | 3 | €1,871,780 | €1,034,210 | -€837,569 | -44.7% |
| Stocks | 30/36 | €1,871,780 | €1,034,210 | -€837,569 | -44.7% |
| Amounts receivable within one year | 40/41 | €7,870,101 | €8,947,864 | +€1.1m | +13.7% |
| Trade receivables | 40 | €3,998 | €0 | -€3,998 | -100.0% |
| Other amounts receivable | 41 | €7,866,102 | €8,947,864 | +€1.1m | +13.8% |
| Cash at bank and in hand | 54/58 | €114,547 | €24,386 | -€90,160 | -78.7% |
| Deferred charges and accrued income | 490/1 | €9,674 | €7 | -€9,667 | -99.9% |
| Total equity and liabilities | 10/49 | €12,951,066 | €13,115,881 | +€164,815 | +1.3% |
| Equity | 10/15 | €1,364,284 | €1,173,439 | -€190,845 | -14.0% |
| Contributions | 10/11 | €738,550 | €738,550 | = | 0.0% |
| Reserves | 13 | €625,734 | €521,711 | -€104,023 | -16.6% |
| Non-distributable reserves | 130/1 | €73,855 | €73,855 | = | 0.0% |
| Reserves not available under the articles | 1311 | €73,855 | €73,855 | = | 0.0% |
| Tax-exempt reserves | 132 | €475,847 | €447,856 | -€27,991 | -5.9% |
| Distributable reserves | 133 | €76,032 | €0 | -€76,032 | -100.0% |
| Profit (loss) carried forward | 14 | - | -€86,821 | -€86,821 | |
| Provisions and deferred taxes | 16 | €343,598 | €230,611 | -€112,987 | -32.9% |
| Provisions for liabilities and charges | 160/5 | €98,574 | €0 | -€98,574 | -100.0% |
| Pensions and similar obligations | 160 | €98,574 | €0 | -€98,574 | -100.0% |
| Deferred taxes | 168 | €245,024 | €230,611 | -€14,413 | -5.9% |
| Amounts payable | 17/49 | €11,243,184 | €11,711,832 | +€468,647 | +4.2% |
| Amounts payable after more than one year | 17 | €1,491,713 | €1,368,869 | -€122,844 | -8.2% |
| Financial debts | 170/4 | €1,491,713 | €1,368,869 | -€122,844 | -8.2% |
| Amounts payable within one year | 42/48 | €9,295,837 | €9,826,918 | +€531,081 | +5.7% |
| Current portion of amounts payable after more than one year | 42 | €126,911 | €131,337 | +€4,426 | +3.5% |
| Financial debts | 43 | €4,159,507 | €3,382,000 | -€777,507 | -18.7% |
| Credit institutions | 430/8 | €4,159,507 | €3,382,000 | -€777,507 | -18.7% |
| Trade debts | 44 | €118,523 | €132,487 | +€13,964 | +11.8% |
| Suppliers | 440/4 | €118,523 | €132,487 | +€13,964 | +11.8% |
| Other amounts payable | 47/48 | €4,890,895 | €6,181,094 | +€1.3m | +26.4% |
| Accrued charges and deferred income | 492/3 | €455,635 | €516,045 | +€60,410 | +13.3% |
| Non-recurring operating income | 76A | - | €98,574 | +€98,574 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €90,088 | €99,089 | +€9,000 | +10.0% |
| Other operating charges | 640/8 | €23,891 | €33,555 | +€9,664 | +40.5% |
| Gross operating margin | 9900 | €217,614 | €240,387 | +€22,773 | +10.5% |
| Operating profit (loss) | 9901 | €103,635 | €107,744 | +€4,109 | +4.0% |
| Financial income | 75/76B | €119,260 | €99,332 | -€19,928 | -16.7% |
| Recurring financial income | 75 | €119,260 | €99,332 | -€19,928 | -16.7% |
| Financial charges | 65/66B | €414,551 | €412,333 | -€2,217 | -0.5% |
| Recurring financial charges | 65 | €414,551 | €412,333 | -€2,217 | -0.5% |
| Profit (loss) for the period before taxes | 9903 | -€191,656 | -€205,258 | -€13,602 | -7.1% |
| Transfer from deferred taxes | 780 | €14,413 | €14,413 | = | 0.0% |
| Income taxes | 67/77 | €3 | €0 | -€3 | -100.0% |
| Profit (loss) for the period | 9904 | -€177,245 | -€190,845 | -€13,599 | -7.7% |
| Transfer from tax-exempt reserves | 789 | €27,991 | €27,991 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€149,254 | -€162,854 | -€13,599 | -9.1% |
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.