LSBG: 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.
LSBG
Largest movements
- Receivables within one year +€110,466
up €110,466 (+86.1%), from €128,298 to €238,764
of which Trade receivables: +€111,804
- Cash +€20,817
up €20,817 (+87.2%), from €23,862 to €44,679
mainly Net result for the year (+€55,969) and Tax, wage and social debts (+€52,911)
- Financial fixed assets +€8,300
up €8,300 (+30695.3%), from €27 to €8,327
- Tangible fixed assets -€7,453
down €7,453 (-19.8%), from €37,703 to €30,250
- Deferred charges and accrued income -€4,042
no longer reported in 2025 (was €4,042)
- Profit (loss) carried forward +€55,969
up €55,969 (+88.6%), from €63,142 to €119,111
- Tax, wage and social debts +€52,911
up €52,911 (+226.9%), from €23,314 to €76,225
of which Remuneration and social security: +€27,163
- Trade debts +€18,189
up €18,189 (+19.1%), from €95,481 to €113,670
- Turnover +€201,982
up €201,982 (+42.0%), from €480,800 to €682,781
- Purchases and services +€144,330
up €144,330 (+45.6%), from €316,712 to €461,041
- Staff costs +€58,110
up €58,110 (+77.2%), from €75,305 to €133,415
- Gross operating margin +€57,652
up €57,652 (+35.1%), from €164,088 to €221,740
- Depreciation +€7,618
up €7,618 (+101.7%), from €7,493 to €15,111
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 | €216,373 | €341,350 | +€124,977 | +57.8% |
| Fixed assets | 21/28 | €54,526 | €51,440 | -€3,086 | -5.7% |
| Intangible fixed assets | 21 | €16,796 | €12,863 | -€3,933 | -23.4% |
| Tangible fixed assets | 22/27 | €37,703 | €30,250 | -€7,453 | -19.8% |
| Furniture and vehicles | 24 | €37,703 | €30,250 | -€7,453 | -19.8% |
| Financial fixed assets | 28 | €27 | €8,327 | +€8,300 | +30695.3% |
| Current assets | 29/58 | €161,848 | €289,911 | +€128,063 | +79.1% |
| Stocks and contracts in progress | 3 | €5,646 | €6,467 | +€821 | +14.5% |
| Stocks | 30/36 | €5,646 | €6,467 | +€821 | +14.5% |
| Amounts receivable within one year | 40/41 | €128,298 | €238,764 | +€110,466 | +86.1% |
| Trade receivables | 40 | €126,960 | €238,764 | +€111,804 | +88.1% |
| Other amounts receivable | 41 | €1,338 | - | -€1,338 | |
| Cash at bank and in hand | 54/58 | €23,862 | €44,679 | +€20,817 | +87.2% |
| Deferred charges and accrued income | 490/1 | €4,042 | - | -€4,042 | |
| Total equity and liabilities | 10/49 | €216,373 | €341,350 | +€124,977 | +57.8% |
| Equity | 10/15 | €64,142 | €120,111 | +€55,969 | +87.3% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €63,142 | €119,111 | +€55,969 | +88.6% |
| Amounts payable | 17/49 | €152,231 | €221,239 | +€69,008 | +45.3% |
| Amounts payable within one year | 42/48 | €152,231 | €221,239 | +€69,008 | +45.3% |
| Trade debts | 44 | €95,481 | €113,670 | +€18,189 | +19.1% |
| Suppliers | 440/4 | €95,481 | €113,670 | +€18,189 | +19.1% |
| Taxes, remuneration and social security | 45 | €23,314 | €76,225 | +€52,911 | +226.9% |
| Taxes | 450/3 | €15,989 | €41,737 | +€25,748 | +161.0% |
| Remuneration and social security | 454/9 | €7,326 | €34,489 | +€27,163 | +370.8% |
| Other amounts payable | 47/48 | €33,436 | €31,344 | -€2,092 | -6.3% |
| Turnover | 70 | €480,800 | €682,781 | +€201,982 | +42.0% |
| Goods, raw materials, services and sundry goods | 60/61 | €316,712 | €461,041 | +€144,330 | +45.6% |
| Remuneration, social security and pensions | 62 | €75,305 | €133,415 | +€58,110 | +77.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,493 | €15,111 | +€7,618 | +101.7% |
| Other operating charges | 640/8 | €836 | €1,506 | +€670 | +80.2% |
| Gross operating margin | 9900 | €164,088 | €221,740 | +€57,652 | +35.1% |
| Operating profit (loss) | 9901 | €80,454 | €71,709 | -€8,746 | -10.9% |
| Financial income | 75/76B | €0 | €144 | +€144 | +65345.5% |
| Recurring financial income | 75 | €0 | €144 | +€144 | +65345.5% |
| Financial charges | 65/66B | €1,324 | €468 | -€856 | -64.6% |
| Recurring financial charges | 65 | €1,324 | €468 | -€856 | -64.6% |
| Profit (loss) for the period before taxes | 9903 | €79,130 | €71,384 | -€7,746 | -9.8% |
| Income taxes | 67/77 | €15,989 | €15,415 | -€574 | -3.6% |
| Profit (loss) for the period | 9904 | €63,142 | €55,969 | -€7,172 | -11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €63,142 | €55,969 | -€7,172 | -11.4% |
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 10 October 2026 via checked.be.