LSB GROEP: 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.
LSB GROEP
Largest movements
- Receivables within one year +€1.3m
up €1.3m (+220%), from €568,648 to €1.8m
of which Other amounts receivable: +€1.5m
- Current investments -€1.0m
down €1.0m (-100%), from €1.0m to €0
- Cash -€339,964
down €339,964 (-47.2%), from €719,746 to €379,782
mainly Contributions, distributions and other (-€1.5m) and Receivables within one year (-€1.3m)
- Tangible fixed assets -€51,583
down €51,583 (-57.4%), from €89,790 to €38,207
- Other debts +€1.3m
up €1.3m (+649%), from €200,540 to €1.5m
- Reserves -€1.1m
down €1.1m (-74.0%), from €1.5m to €380,250
of which Distributable reserves: -€1.1m
- Trade debts -€397,981
down €397,981 (-73.7%), from €539,691 to €141,710
- Gross operating margin -€119,753
down €119,753 (-10.2%), from €1.2m to €1.0m
- Write-downs -€37,749
down €37,749, from €0 to -€37,749
- Taxes +€31,996
up €31,996 (+26.5%), from €120,624 to €152,621
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 | €2,385,201 | €2,242,297 | -€142,904 | -6.0% |
| Fixed assets | 21/28 | €89,790 | €38,207 | -€51,583 | -57.4% |
| Tangible fixed assets | 22/27 | €89,790 | €38,207 | -€51,583 | -57.4% |
| Furniture and vehicles | 24 | €89,790 | €38,207 | -€51,583 | -57.4% |
| Current assets | 29/58 | €2,295,411 | €2,204,090 | -€91,321 | -4.0% |
| Amounts receivable within one year | 40/41 | €568,648 | €1,821,456 | +€1.3m | +220% |
| Trade receivables | 40 | €534,524 | €286,292 | -€248,232 | -46.4% |
| Other amounts receivable | 41 | €34,124 | €1,535,164 | +€1.5m | +4,399% |
| Current investments | 50/53 | €1,000,000 | €0 | -€1.0m | -100% |
| Cash at bank and in hand | 54/58 | €719,746 | €379,782 | -€339,964 | -47.2% |
| Deferred charges and accrued income | 490/1 | €7,017 | €2,852 | -€4,165 | -59.4% |
| Total equity and liabilities | 10/49 | €2,385,201 | €2,242,297 | -€142,904 | -6.0% |
| Equity | 10/15 | €1,523,339 | €442,223 | -€1.1m | -71.0% |
| Contributions | 10/11 | €61,973 | €61,973 | = | 0.0% |
| Capital | 10 | €61,973 | €61,973 | = | 0.0% |
| Issued capital | 100 | €61,973 | €61,973 | = | 0.0% |
| Reserves | 13 | €1,461,366 | €380,250 | -€1.1m | -74.0% |
| Non-distributable reserves | 130/1 | €6,197 | €6,197 | = | 0.0% |
| Legal reserve | 130 | €6,197 | €6,197 | = | 0.0% |
| Distributable reserves | 133 | €1,455,169 | €374,052 | -€1.1m | -74.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €861,862 | €1,800,074 | +€938,212 | +109% |
| Amounts payable within one year | 42/48 | €861,862 | €1,779,391 | +€917,529 | +106% |
| Trade debts | 44 | €539,691 | €141,710 | -€397,981 | -73.7% |
| Suppliers | 440/4 | €539,691 | €141,710 | -€397,981 | -73.7% |
| Taxes, remuneration and social security | 45 | €121,630 | €136,413 | +€14,783 | +12.2% |
| Taxes | 450/3 | €92,581 | €124,390 | +€31,809 | +34.4% |
| Remuneration and social security | 454/9 | €29,050 | €12,023 | -€17,026 | -58.6% |
| Other amounts payable | 47/48 | €200,540 | €1,501,267 | +€1.3m | +649% |
| Accrued charges and deferred income | 492/3 | - | €20,683 | +€20,683 | |
| Non-recurring operating income | 76A | €720 | €308 | -€412 | -57.2% |
| Remuneration, social security and pensions | 62 | €466,122 | €461,905 | -€4,218 | -0.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €51,583 | €56,391 | +€4,808 | +9.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€37,749 | -€37,749 | |
| Other operating charges | 640/8 | €4,545 | €4,899 | +€354 | +7.8% |
| Non-recurring operating charges | 66A | €2,400 | €16,140 | +€13,740 | +573% |
| Gross operating margin | 9900 | €1,168,365 | €1,048,612 | -€119,753 | -10.2% |
| Operating profit (loss) | 9901 | €643,714 | €547,026 | -€96,688 | -15.0% |
| Financial income | 75/76B | €22,502 | €24,686 | +€2,183 | +9.7% |
| Recurring financial income | 75 | €22,502 | €24,686 | +€2,183 | +9.7% |
| Financial charges | 65/66B | €6 | €207 | +€201 | +3,315% |
| Recurring financial charges | 65 | €6 | €207 | +€201 | +3,315% |
| Profit (loss) for the period before taxes | 9903 | €666,210 | €571,504 | -€94,706 | -14.2% |
| Income taxes | 67/77 | €120,624 | €152,621 | +€31,996 | +26.5% |
| Profit (loss) for the period | 9904 | €545,586 | €418,884 | -€126,702 | -23.2% |
| Profit (loss) for the period to be appropriated | 9905 | €545,586 | €418,884 | -€126,702 | -23.2% |
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 20 October 2026 via checked.be.