LSG CONSTRUCTION: 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.
LSG CONSTRUCTION
Largest movements
- Cash +€16,422
up €16,422 (+137.7%), from €11,926 to €28,348
mainly Net result for the year (+€14,562) and Trade debts (+€12,886)
- Receivables within one year +€11,985
up €11,985 (+30.7%), from €39,035 to €51,021
of which Trade receivables: +€10,757
- Tangible fixed assets -€6,620
down €6,620 (-50.5%), from €13,117 to €6,497
of which Furniture and vehicles: -€6,064
- Profit (loss) carried forward +€14,562
up €14,562, from -€2,636 to €11,926
- Trade debts +€12,886
up €12,886 (+79.5%), from €16,213 to €29,099
- Tax, wage and social debts -€5,899
down €5,899 (-35.2%), from €16,742 to €10,843
of which Taxes: -€5,056
- Staff costs +€24,140
up €24,140 (+32.7%), from €73,823 to €97,963
- Gross operating margin +€16,791
up €16,791 (+16.4%), from €102,661 to €119,451
- Depreciation -€5,706
down €5,706 (-51.1%), from €11,162 to €5,455
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 | €65,527 | €87,314 | +€21,787 | +33.2% |
| Fixed assets | 21/28 | €13,267 | €6,647 | -€6,620 | -49.9% |
| Tangible fixed assets | 22/27 | €13,117 | €6,497 | -€6,620 | -50.5% |
| Plant, machinery and equipment | 23 | €1,533 | €977 | -€555 | -36.2% |
| Furniture and vehicles | 24 | €11,584 | €5,520 | -€6,064 | -52.4% |
| Financial fixed assets | 28 | €150 | €150 | = | 0.0% |
| Current assets | 29/58 | €52,260 | €80,667 | +€28,407 | +54.4% |
| Stocks and contracts in progress | 3 | €1,298 | €1,298 | = | 0.0% |
| Stocks | 30/36 | €1,298 | €1,298 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €39,035 | €51,021 | +€11,985 | +30.7% |
| Trade receivables | 40 | €37,294 | €48,051 | +€10,757 | +28.8% |
| Other amounts receivable | 41 | €1,741 | €2,970 | +€1,228 | +70.5% |
| Cash at bank and in hand | 54/58 | €11,926 | €28,348 | +€16,422 | +137.7% |
| Total equity and liabilities | 10/49 | €65,527 | €87,314 | +€21,787 | +33.2% |
| Equity | 10/15 | €5,424 | €19,986 | +€14,562 | +268.5% |
| 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 | -€2,636 | €11,926 | +€14,562 | |
| Amounts payable | 17/49 | €60,103 | €67,329 | +€7,226 | +12.0% |
| Amounts payable within one year | 42/48 | €60,103 | €67,329 | +€7,226 | +12.0% |
| Trade debts | 44 | €16,213 | €29,099 | +€12,886 | +79.5% |
| Suppliers | 440/4 | €16,213 | €29,099 | +€12,886 | +79.5% |
| Advances received on contracts in progress | 46 | €4,067 | €4,067 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €16,742 | €10,843 | -€5,899 | -35.2% |
| Taxes | 450/3 | €5,343 | €287 | -€5,056 | -94.6% |
| Remuneration and social security | 454/9 | €11,399 | €10,555 | -€843 | -7.4% |
| Other amounts payable | 47/48 | €23,081 | €23,320 | +€238 | +1.0% |
| Non-recurring operating income | 76A | - | €10,321 | +€10,321 | |
| Remuneration, social security and pensions | 62 | €73,823 | €97,963 | +€24,140 | +32.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,162 | €5,455 | -€5,706 | -51.1% |
| Other operating charges | 640/8 | €536 | €1,206 | +€671 | +125.2% |
| Non-recurring operating charges | 66A | €3,500 | - | -€3,500 | |
| Gross operating margin | 9900 | €102,661 | €119,451 | +€16,791 | +16.4% |
| Operating profit (loss) | 9901 | €13,640 | €14,826 | +€1,186 | +8.7% |
| Financial income | 75/76B | €212 | €49 | -€163 | -76.8% |
| Recurring financial income | 75 | €212 | €49 | -€163 | -76.8% |
| Financial charges | 65/66B | €301 | €314 | +€13 | +4.4% |
| Recurring financial charges | 65 | €301 | €314 | +€13 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €13,551 | €14,562 | +€1,010 | +7.5% |
| Income taxes | 67/77 | €440 | - | -€440 | |
| Profit (loss) for the period | 9904 | €13,111 | €14,562 | +€1,450 | +11.1% |
| Profit (loss) for the period to be appropriated | 9905 | €13,111 | €14,562 | +€1,450 | +11.1% |
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 9 October 2026 via checked.be.