LSD CONCEPT: 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.
LSD CONCEPT
Largest movements
- Cash -€90,507
down €90,507 (-90.1%), from €100,439 to €9,932
mainly Debts after one year (-€101,619) and Net result for the year (-€29,002)
- Receivables within one year -€45,667
down €45,667 (-45.0%), from €101,423 to €55,756
of which Other amounts receivable: -€43,565
- Receivables after one year -€19,228
down €19,228 (-24.0%), from €80,122 to €60,894
- Debts after one year -€101,619
down €101,619 (-88.3%), from €115,119 to €13,500
of which Financial debts: -€101,619
- Profit (loss) carried forward -€29,002
down €29,002, from €12,083 to -€16,919
- Other debts -€12,099
down €12,099 (-15.3%), from €79,178 to €67,079
- Current portion of long-term debt -€12,000
no longer reported in 2025 (was €12,000)
- Financial income -€89,533
down €89,533 (-98.1%), from €91,295 to €1,762
of which Non-recurring financial income: -€90,919
- Gross operating margin -€30,150
down €30,150 (-2113.2%), from -€1,427 to -€31,577
- Write-downs -€16,570
new in 2025: -€16,570
- Staff costs -€15,162
down €15,162, from €13,779 to -€1,383
- Other operating charges +€6,911
up €6,911 (+68.9%), from €10,037 to €16,947
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 | €290,716 | €134,944 | -€155,772 | -53.6% |
| Fixed assets | 21/28 | €8,363 | €8,363 | = | 0.0% |
| Financial fixed assets | 28 | €8,363 | €8,363 | = | 0.0% |
| Current assets | 29/58 | €282,353 | €126,581 | -€155,772 | -55.2% |
| Amounts receivable after more than one year | 29 | €80,122 | €60,894 | -€19,228 | -24.0% |
| Trade receivables | 290 | €80,122 | €60,894 | -€19,228 | -24.0% |
| Amounts receivable within one year | 40/41 | €101,423 | €55,756 | -€45,667 | -45.0% |
| Trade receivables | 40 | €8,778 | €6,676 | -€2,102 | -23.9% |
| Other amounts receivable | 41 | €92,645 | €49,080 | -€43,565 | -47.0% |
| Cash at bank and in hand | 54/58 | €100,439 | €9,932 | -€90,507 | -90.1% |
| Deferred charges and accrued income | 490/1 | €370 | - | -€370 | |
| Total equity and liabilities | 10/49 | €290,716 | €134,944 | -€155,772 | -53.6% |
| Equity | 10/15 | €20,143 | -€8,859 | -€29,002 | |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,083 | -€16,919 | -€29,002 | |
| Amounts payable | 17/49 | €270,573 | €143,803 | -€126,770 | -46.9% |
| Amounts payable after more than one year | 17 | €115,119 | €13,500 | -€101,619 | -88.3% |
| Financial debts | 170/4 | €101,619 | - | -€101,619 | |
| Other amounts payable | 178/9 | €13,500 | €13,500 | = | 0.0% |
| Amounts payable within one year | 42/48 | €155,454 | €130,303 | -€25,151 | -16.2% |
| Current portion of amounts payable after more than one year | 42 | €12,000 | - | -€12,000 | |
| Trade debts | 44 | €53,916 | €55,241 | +€1,324 | +2.5% |
| Suppliers | 440/4 | €53,916 | €55,241 | +€1,324 | +2.5% |
| Advances received on contracts in progress | 46 | €4,750 | €4,750 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €5,610 | €3,233 | -€2,377 | -42.4% |
| Taxes | 450/3 | €4,711 | €3,229 | -€1,483 | -31.5% |
| Remuneration and social security | 454/9 | €899 | €5 | -€894 | -99.5% |
| Other amounts payable | 47/48 | €79,178 | €67,079 | -€12,099 | -15.3% |
| Remuneration, social security and pensions | 62 | €13,779 | -€1,383 | -€15,162 | |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | -€16,570 | -€16,570 | |
| Other operating charges | 640/8 | €10,037 | €16,947 | +€6,911 | +68.9% |
| Non-recurring operating charges | 66A | €8,432 | - | -€8,432 | |
| Gross operating margin | 9900 | -€1,427 | -€31,577 | -€30,150 | -2113.2% |
| Operating profit (loss) | 9901 | -€33,674 | -€30,571 | +€3,103 | +9.2% |
| Financial income | 75/76B | €91,295 | €1,762 | -€89,533 | -98.1% |
| Recurring financial income | 75 | €376 | €1,762 | +€1,386 | +369.1% |
| Non-recurring financial income | 76B | €90,919 | - | -€90,919 | |
| Financial charges | 65/66B | €1,691 | €193 | -€1,498 | -88.6% |
| Recurring financial charges | 65 | €1,691 | €193 | -€1,498 | -88.6% |
| Profit (loss) for the period before taxes | 9903 | €55,930 | -€29,002 | -€84,931 | |
| Profit (loss) for the period | 9904 | €55,930 | -€29,002 | -€84,931 | |
| Profit (loss) for the period to be appropriated | 9905 | €55,930 | -€29,002 | -€84,931 |
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.