LSG-INVEST: what changed
LSG-INVEST
Largest movements
- Receivables within one year +€91,796
up €91,796 (+153%), from €59,847 to €151,644
of which Trade receivables: +€92,103
- Tangible fixed assets -€84,232
down €84,232 (-54.2%), from €155,521 to €71,289
of which Furniture and vehicles: -€78,602
- Cash +€58,390
up €58,390 (+227%), from €25,674 to €84,064
- Deferred charges and accrued income +€6,456
up €6,456 (+7,815%), from €83 to €6,539
- Trade debts +€44,841
up €44,841 (+56.8%), from €78,883 to €123,724
- Advances received +€32,590
up €32,590 (+3,823%), from €853 to €33,442
- Debts after one year -€19,687
no longer reported in 2025 (was €19,687)
- Other debts +€9,200
up €9,200 (+134%), from €6,840 to €16,040
- Tax, wage and social debts +€3,557
up €3,557 (+17.2%), from €20,680 to €24,237
of which Taxes: +€3,806
- Gross operating margin -€17,095
down €17,095 (-16.6%), from €102,894 to €85,799
- Staff costs +€5,240
up €5,240 (+10.7%), from €48,874 to €54,114
- Taxes -€4,491
down €4,491 (-62.7%), from €7,163 to €2,672
Change in the result, 2023 to 2025
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
A cash bridge needs two consecutive financial years. One year's result and depreciation cannot explain a change over several years. Pick two years that follow each other.
Every line side by side
| Line | Code | 2023 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €241,725 | €314,054 | +€72,328 | +29.9% |
| Fixed assets | 21/28 | €155,521 | €71,289 | -€84,232 | -54.2% |
| Tangible fixed assets | 22/27 | €155,521 | €71,289 | -€84,232 | -54.2% |
| Plant, machinery and equipment | 23 | €22,115 | €16,486 | -€5,630 | -25.5% |
| Furniture and vehicles | 24 | €133,406 | €54,804 | -€78,602 | -58.9% |
| Current assets | 29/58 | €86,204 | €242,764 | +€156,560 | +182% |
| Stocks and contracts in progress | 3 | €601 | €518 | -€82 | -13.7% |
| Stocks | 30/36 | €601 | €518 | -€82 | -13.7% |
| Amounts receivable within one year | 40/41 | €59,847 | €151,644 | +€91,796 | +153% |
| Trade receivables | 40 | €59,524 | €151,627 | +€92,103 | +155% |
| Other amounts receivable | 41 | €324 | €17 | -€307 | -94.8% |
| Cash at bank and in hand | 54/58 | €25,674 | €84,064 | +€58,390 | +227% |
| Deferred charges and accrued income | 490/1 | €83 | €6,539 | +€6,456 | +7,815% |
| Total equity and liabilities | 10/49 | €241,725 | €314,054 | +€72,328 | +29.9% |
| Equity | 10/15 | €104,895 | €107,073 | +€2,178 | +2.1% |
| Contributions | 10/11 | €20,079 | €20,079 | = | 0.0% |
| Contributions outside capital | 11 | €20,079 | €20,079 | = | 0.0% |
| Other | 1109/19 | €20,079 | €20,079 | = | 0.0% |
| Reserves | 13 | €50,126 | €50,126 | = | 0.0% |
| Distributable reserves | 133 | €50,126 | €50,126 | = | 0.0% |
| Profit (loss) carried forward | 14 | €34,690 | €36,868 | +€2,178 | +6.3% |
| Amounts payable | 17/49 | €136,830 | €206,981 | +€70,151 | +51.3% |
| Amounts payable after more than one year | 17 | €19,687 | - | -€19,687 | |
| Financial debts | 170/4 | €19,687 | - | -€19,687 | |
| Amounts payable within one year | 42/48 | €117,143 | €206,981 | +€89,837 | +76.7% |
| Current portion of amounts payable after more than one year | 42 | €9,888 | €9,538 | -€350 | -3.5% |
| Trade debts | 44 | €78,883 | €123,724 | +€44,841 | +56.8% |
| Suppliers | 440/4 | €78,883 | €123,724 | +€44,841 | +56.8% |
| Advances received on contracts in progress | 46 | €853 | €33,442 | +€32,590 | +3,823% |
| Taxes, remuneration and social security | 45 | €20,680 | €24,237 | +€3,557 | +17.2% |
| Taxes | 450/3 | €13,604 | €17,409 | +€3,806 | +28.0% |
| Remuneration and social security | 454/9 | €7,076 | €6,828 | -€248 | -3.5% |
| Other amounts payable | 47/48 | €6,840 | €16,040 | +€9,200 | +134% |
| Remuneration, social security and pensions | 62 | €48,874 | €54,114 | +€5,240 | +10.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,086 | €28,006 | -€80 | -0.3% |
| Other operating charges | 640/8 | €249 | €175 | -€74 | -29.7% |
| Gross operating margin | 9900 | €102,894 | €85,799 | -€17,095 | -16.6% |
| Operating profit (loss) | 9901 | €25,685 | €3,504 | -€22,181 | -86.4% |
| Financial income | 75/76B | €0 | €3 | +€3 | +791% |
| Recurring financial income | 75 | €0 | €3 | +€3 | +791% |
| Financial charges | 65/66B | €2,031 | €2,676 | +€646 | +31.8% |
| Recurring financial charges | 65 | €2,031 | €2,676 | +€646 | +31.8% |
| Profit (loss) for the period before taxes | 9903 | €23,654 | €830 | -€22,824 | -96.5% |
| Income taxes | 67/77 | €7,163 | €2,672 | -€4,491 | -62.7% |
| Profit (loss) for the period | 9904 | €16,491 | -€1,842 | -€18,333 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,491 | -€1,842 | -€18,333 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2023 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.