LSA: 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.
LSA
Largest movements
- Cash +€19,640
up €19,640 (+56.9%), from €34,544 to €54,184
mainly Net result for the year (+€24,622) and Other debts (+€23,897)
- Tangible fixed assets -€8,786
down €8,786 (-7.2%), from €121,316 to €112,530
of which Land and buildings: -€6,699
- Other debts +€23,897
up €23,897, from €0 to €23,897
- Debts after one year -€6,468
down €6,468 (-6.9%), from €93,612 to €87,144
- Reserves -€5,378
down €5,378 (-9.2%), from €58,609 to €53,231
- Tax, wage and social debts -€2,369
down €2,369 (-65.3%), from €3,628 to €1,259
of which Taxes: -€2,462
- Trade debts +€1,993
up €1,993 (+410.1%), from €486 to €2,479
- Gross operating margin +€6,212
up €6,212 (+13.6%), from €45,811 to €52,022
- Staff costs +€4,453
new in 2025: €4,453
- Taxes -€1,058
down €1,058 (-13.0%), from €8,143 to €7,085
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 | €163,797 | €175,552 | +€11,755 | +7.2% |
| Formation expenses | 20 | €853 | €540 | -€313 | -36.7% |
| Fixed assets | 21/28 | €121,316 | €112,530 | -€8,786 | -7.2% |
| Tangible fixed assets | 22/27 | €121,316 | €112,530 | -€8,786 | -7.2% |
| Land and buildings | 22 | €113,134 | €106,435 | -€6,699 | -5.9% |
| Furniture and vehicles | 24 | €8,182 | €6,095 | -€2,087 | -25.5% |
| Current assets | 29/58 | €41,627 | €62,481 | +€20,854 | +50.1% |
| Amounts receivable within one year | 40/41 | €5,440 | €6,577 | +€1,138 | +20.9% |
| Trade receivables | 40 | €2,106 | €4,063 | +€1,957 | +92.9% |
| Other amounts receivable | 41 | €3,334 | €2,515 | -€819 | -24.6% |
| Cash at bank and in hand | 54/58 | €34,544 | €54,184 | +€19,640 | +56.9% |
| Deferred charges and accrued income | 490/1 | €1,644 | €1,720 | +€76 | +4.6% |
| Total equity and liabilities | 10/49 | €163,797 | €175,552 | +€11,755 | +7.2% |
| Equity | 10/15 | €59,609 | €54,231 | -€5,378 | -9.0% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €58,609 | €53,231 | -€5,378 | -9.2% |
| Distributable reserves | 133 | €58,609 | €53,231 | -€5,378 | -9.2% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €104,188 | €121,321 | +€17,133 | +16.4% |
| Amounts payable after more than one year | 17 | €93,612 | €87,144 | -€6,468 | -6.9% |
| Financial debts | 170/4 | €93,612 | €87,144 | -€6,468 | -6.9% |
| Amounts payable within one year | 42/48 | €10,416 | €34,145 | +€23,729 | +227.8% |
| Current portion of amounts payable after more than one year | 42 | €6,277 | €6,468 | +€190 | +3.0% |
| Financial debts | 43 | €25 | €43 | +€18 | +71.0% |
| Credit institutions | 430/8 | €25 | €43 | +€18 | +71.0% |
| Trade debts | 44 | €486 | €2,479 | +€1,993 | +410.1% |
| Suppliers | 440/4 | €486 | €2,479 | +€1,993 | +410.1% |
| Taxes, remuneration and social security | 45 | €3,628 | €1,259 | -€2,369 | -65.3% |
| Taxes | 450/3 | €3,628 | €1,166 | -€2,462 | -67.9% |
| Remuneration and social security | 454/9 | - | €93 | +€93 | |
| Other amounts payable | 47/48 | €0 | €23,897 | +€23,897 | |
| Accrued charges and deferred income | 492/3 | €160 | €32 | -€128 | -80.0% |
| Remuneration, social security and pensions | 62 | - | €4,453 | +€4,453 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,224 | €9,726 | +€502 | +5.4% |
| Other operating charges | 640/8 | €1,883 | €2,241 | +€358 | +19.0% |
| Gross operating margin | 9900 | €45,811 | €52,022 | +€6,212 | +13.6% |
| Operating profit (loss) | 9901 | €34,704 | €35,603 | +€899 | +2.6% |
| Financial income | 75/76B | €253 | €14 | -€239 | -94.5% |
| Recurring financial income | 75 | €253 | €14 | -€239 | -94.5% |
| Financial charges | 65/66B | €4,228 | €3,910 | -€318 | -7.5% |
| Recurring financial charges | 65 | €4,228 | €3,910 | -€318 | -7.5% |
| Profit (loss) for the period before taxes | 9903 | €30,729 | €31,707 | +€978 | +3.2% |
| Income taxes | 67/77 | €8,143 | €7,085 | -€1,058 | -13.0% |
| Profit (loss) for the period | 9904 | €22,586 | €24,622 | +€2,036 | +9.0% |
| Profit (loss) for the period to be appropriated | 9905 | €22,586 | €24,622 | +€2,036 | +9.0% |
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 3 October 2026 via checked.be.