LSDP DIFFUSION: 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.
LSDP DIFFUSION
Largest movements
- Cash -€36,429
down €36,429 (-17.2%), from €211,589 to €175,160
mainly Contributions, distributions and other (-€66,486) and Investment in fixed assets (net) (-€48,677)
- Stocks and contracts -€33,512
down €33,512 (-33.3%), from €100,648 to €67,135
- Receivables within one year +€21,500
up €21,500 (+72.3%), from €29,753 to €51,253
of which Trade receivables: +€29,599
- Tangible fixed assets -€12,663
down €12,663 (-2.9%), from €432,299 to €419,636
of which Land and buildings: -€21,528
- Current portion of long-term debt -€44,193
down €44,193 (-53.3%), from €82,896 to €38,703
- Reserves -€36,126
down €36,126 (-6.2%), from €578,453 to €542,328
of which Distributable reserves: -€36,126
- Debts after one year +€11,113
up €11,113 (+16.9%), from €65,691 to €76,804
- Gross operating margin +€28,783
up €28,783 (+18.9%), from €152,036 to €180,819
- Staff costs +€10,507
up €10,507 (+26.4%), from €39,744 to €50,251
- Taxes +€9,117
up €9,117 (+91.5%), from €9,966 to €19,083
- Other operating charges -€5,507
down €5,507 (-37.7%), from €14,613 to €9,106
- Depreciation +€5,067
up €5,067 (+9.0%), from €56,273 to €61,340
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 | €774,289 | €715,644 | -€58,645 | -7.6% |
| Fixed assets | 21/28 | €432,299 | €419,636 | -€12,663 | -2.9% |
| Tangible fixed assets | 22/27 | €432,299 | €419,636 | -€12,663 | -2.9% |
| Land and buildings | 22 | €230,673 | €209,146 | -€21,528 | -9.3% |
| Plant, machinery and equipment | 23 | €2,590 | €3,028 | +€438 | +16.9% |
| Furniture and vehicles | 24 | €104,598 | €116,350 | +€11,752 | +11.2% |
| Other tangible fixed assets | 26 | €94,438 | €91,112 | -€3,325 | -3.5% |
| Current assets | 29/58 | €341,990 | €296,008 | -€45,982 | -13.4% |
| Stocks and contracts in progress | 3 | €100,648 | €67,135 | -€33,512 | -33.3% |
| Stocks | 30/36 | €100,648 | €67,135 | -€33,512 | -33.3% |
| Amounts receivable within one year | 40/41 | €29,753 | €51,253 | +€21,500 | +72.3% |
| Trade receivables | 40 | €16,991 | €46,591 | +€29,599 | +174.2% |
| Other amounts receivable | 41 | €12,762 | €4,663 | -€8,099 | -63.5% |
| Cash at bank and in hand | 54/58 | €211,589 | €175,160 | -€36,429 | -17.2% |
| Deferred charges and accrued income | 490/1 | €0 | €2,459 | +€2,459 | |
| Total equity and liabilities | 10/49 | €774,289 | €715,644 | -€58,645 | -7.6% |
| Equity | 10/15 | €580,313 | €548,199 | -€32,115 | -5.5% |
| Contributions | 10/11 | €1,860 | €1,860 | = | 0.0% |
| Reserves | 13 | €578,453 | €542,328 | -€36,126 | -6.2% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Tax-exempt reserves | 132 | €143,209 | €143,209 | = | 0.0% |
| Distributable reserves | 133 | €435,244 | €399,119 | -€36,126 | -8.3% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Investment grants | 15 | - | €4,011 | +€4,011 | |
| Amounts payable | 17/49 | €193,976 | €167,446 | -€26,530 | -13.7% |
| Amounts payable after more than one year | 17 | €65,691 | €76,804 | +€11,113 | +16.9% |
| Financial debts | 170/4 | €65,691 | €76,804 | +€11,113 | +16.9% |
| Amounts payable within one year | 42/48 | €121,285 | €83,642 | -€37,643 | -31.0% |
| Current portion of amounts payable after more than one year | 42 | €82,896 | €38,703 | -€44,193 | -53.3% |
| Trade debts | 44 | €21,678 | €25,923 | +€4,245 | +19.6% |
| Suppliers | 440/4 | €21,678 | €25,923 | +€4,245 | +19.6% |
| Taxes, remuneration and social security | 45 | €14,349 | €19,016 | +€4,667 | +32.5% |
| Taxes | 450/3 | €8,280 | €10,951 | +€2,672 | +32.3% |
| Remuneration and social security | 454/9 | €6,069 | €8,065 | +€1,995 | +32.9% |
| Other amounts payable | 47/48 | €2,362 | €0 | -€2,362 | -100.0% |
| Accrued charges and deferred income | 492/3 | €7,000 | €7,000 | = | 0.0% |
| Non-recurring operating income | 76A | €40,496 | €12,754 | -€27,742 | -68.5% |
| Remuneration, social security and pensions | 62 | €39,744 | €50,251 | +€10,507 | +26.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €56,273 | €61,340 | +€5,067 | +9.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €7,355 | €5,421 | -€1,933 | -26.3% |
| Other operating charges | 640/8 | €14,613 | €9,106 | -€5,507 | -37.7% |
| Gross operating margin | 9900 | €152,036 | €180,819 | +€28,783 | +18.9% |
| Operating profit (loss) | 9901 | €34,051 | €54,701 | +€20,650 | +60.6% |
| Financial income | 75/76B | €837 | €5,102 | +€4,266 | +509.9% |
| Recurring financial income | 75 | €837 | €5,102 | +€4,266 | +509.9% |
| Financial charges | 65/66B | €5,089 | €6,349 | +€1,260 | +24.8% |
| Recurring financial charges | 65 | €5,089 | €6,349 | +€1,260 | +24.8% |
| Profit (loss) for the period before taxes | 9903 | €29,798 | €53,454 | +€23,655 | +79.4% |
| Transfer from deferred taxes | 780 | €0 | - | = | |
| Income taxes | 67/77 | €9,966 | €19,083 | +€9,117 | +91.5% |
| Profit (loss) for the period | 9904 | €19,832 | €34,371 | +€14,539 | +73.3% |
| Profit (loss) for the period to be appropriated | 9905 | €19,832 | €34,371 | +€14,539 | +73.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 January 2024 and 31 January 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 September 2026 via checked.be.