LSF INVEST: what changed
LSF INVEST
Largest movements
- Current assets +€370,046
up €370,046 (+595%), from €62,207 to €432,253
of which Stocks and contracts: +€391,965
- Debts after one year +€300,500
up €300,500 (+34.8%), from €864,000 to €1.2m
of which Financial debts: +€1.2m
- Debts within one year +€118,229
up €118,229 (+70.8%), from €166,893 to €285,121
of which Other debts: +€271,460
- Equity -€59,279
down €59,279 (-60.8%), from -€97,551 to -€156,830
of which Profit (loss) carried forward: -€59,279
- Gross operating margin +€72,151
up €72,151, from -€68,819 to €3,332
- Financial charges +€35,134
new in 2021: €35,134
- Depreciation +€4,008
up €4,008 (+17.5%), from €22,930 to €26,938
Change in the result, 2020 to 2021
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
Cash or the result is not a separate line in both sets of accounts. So the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2020 | 2021 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €933,342 | €1,292,791 | +€359,450 | +38.5% |
| Fixed assets | 21/28 | €871,134 | €860,538 | -€10,596 | -1.2% |
| Tangible fixed assets | 22/27 | €870,634 | €860,038 | -€10,596 | -1.2% |
| Land and buildings | 22 | - | €853,034 | +€853,034 | |
| Furniture and vehicles | 24 | - | €5,926 | +€5,926 | |
| Other tangible fixed assets | 26 | - | €1,079 | +€1,079 | |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €62,207 | €432,253 | +€370,046 | +595% |
| Stocks and contracts in progress | 3 | - | €391,965 | +€391,965 | |
| Stocks | 30/36 | - | €391,965 | +€391,965 | |
| Amounts receivable within one year | 40/41 | €61,022 | €39,211 | -€21,811 | -35.7% |
| Other amounts receivable | 41 | - | €39,211 | +€39,211 | |
| Cash at bank and in hand | 54/58 | €192 | - | -€192 | |
| Deferred charges and accrued income | 490/1 | - | €1,077 | +€1,077 | |
| Total equity and liabilities | 10/49 | €933,342 | €1,292,791 | +€359,450 | +38.5% |
| Equity | 10/15 | -€97,551 | -€156,830 | -€59,279 | -60.8% |
| Contributions | 10/11 | - | €18,600 | +€18,600 | |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | - | €1,860 | +€1,860 | |
| Profit (loss) carried forward | 14 | -€118,011 | -€177,290 | -€59,279 | -50.2% |
| Amounts payable | 17/49 | €1,030,893 | €1,449,621 | +€418,729 | +40.6% |
| Amounts payable after more than one year | 17 | €864,000 | €1,164,500 | +€300,500 | +34.8% |
| Financial debts | 170/4 | - | €1,160,000 | +€1.2m | |
| Other amounts payable | 178/9 | - | €4,500 | +€4,500 | |
| Amounts payable within one year | 42/48 | €166,893 | €285,121 | +€118,229 | +70.8% |
| Financial debts | 43 | - | €845 | +€845 | |
| Other loans | 439 | - | €845 | +€845 | |
| Trade debts | 44 | €910 | €10,514 | +€9,605 | +1,056% |
| Suppliers | 440/4 | - | €10,514 | +€10,514 | |
| Taxes, remuneration and social security | 45 | - | €2,302 | +€2,302 | |
| Taxes | 450/3 | - | €2,302 | +€2,302 | |
| Other amounts payable | 47/48 | - | €271,460 | +€271,460 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,930 | €26,938 | +€4,008 | +17.5% |
| Gross operating margin | 9900 | -€68,819 | €3,332 | +€72,151 | |
| Operating profit (loss) | 9901 | -€91,749 | -€23,606 | +€68,143 | +74.3% |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | - | €35,134 | +€35,134 | |
| Recurring financial charges | 65 | €11,995 | €35,134 | +€23,139 | +193% |
| Profit (loss) for the period before taxes | 9903 | -€103,744 | -€58,740 | +€45,004 | +43.4% |
| Income taxes | 67/77 | €341 | €539 | +€197 | +57.8% |
| Profit (loss) for the period | 9904 | -€104,085 | -€59,279 | +€44,806 | +43.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€104,085 | -€59,279 | +€44,806 | +43.0% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2020 and 31 December 2021. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.