LSG Management: 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.
LSG Management
Largest movements
- Tangible fixed assets -€62,549
down €62,549 (-70.5%), from €88,687 to €26,138
of which Land and buildings: -€61,873
- Trade debts +€105,734
up €105,734 (+205.5%), from €51,443 to €157,178
- Profit (loss) carried forward -€96,091
down €96,091, from €12,218 to -€83,873
- Debts after one year -€58,223
down €58,223 (-25.0%), from €233,223 to €175,000
of which Financial debts: -€58,223
- Accrued charges and deferred income -€7,605
down €7,605 (-100.0%), from €7,605 to €0
- Current portion of long-term debt -€5,670
down €5,670 (-100.0%), from €5,670 to €0
- Gross operating margin -€91,577
down €91,577, from €14,659 to -€76,918
- Taxes +€7,126
up €7,126, from €0 to €7,126
- Depreciation -€3,198
down €3,198 (-77.0%), from €4,154 to €956
- Financial charges +€2,787
up €2,787 (+20.9%), from €13,348 to €16,135
of which Financial charges: +€1,666
- Other operating charges -€2,203
down €2,203 (-31.1%), from €7,083 to €4,880
From the 2021 result to the 2022 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 2021 and 2022 balance sheets and the 2022 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2021 | 2022 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €472,554 | €412,902 | -€59,652 | -12.6% |
| Fixed assets | 21/28 | €99,257 | €36,429 | -€62,829 | -63.3% |
| Intangible fixed assets | 21 | €513 | €233 | -€280 | -54.5% |
| Tangible fixed assets | 22/27 | €88,687 | €26,138 | -€62,549 | -70.5% |
| Land and buildings | 22 | €61,873 | €0 | -€61,873 | -100.0% |
| Furniture and vehicles | 24 | €1,379 | €703 | -€676 | -49.0% |
| Assets under construction and advance payments | 27 | €25,435 | €25,435 | = | 0.0% |
| Financial fixed assets | 28 | €10,057 | €10,057 | = | 0.0% |
| Current assets | 29/58 | €373,296 | €376,473 | +€3,177 | +0.9% |
| Amounts receivable within one year | 40/41 | €373,290 | €375,390 | +€2,101 | +0.6% |
| Trade receivables | 40 | €96 | €8,406 | +€8,309 | +8613.4% |
| Other amounts receivable | 41 | €373,193 | €366,985 | -€6,209 | -1.7% |
| Cash at bank and in hand | 54/58 | €7 | €1,083 | +€1,076 | +16134.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €472,554 | €412,902 | -€59,652 | -12.6% |
| Equity | 10/15 | €30,818 | -€65,273 | -€96,091 | |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,218 | -€83,873 | -€96,091 | |
| Amounts payable | 17/49 | €441,735 | €478,175 | +€36,440 | +8.2% |
| Amounts payable after more than one year | 17 | €233,223 | €175,000 | -€58,223 | -25.0% |
| Financial debts | 170/4 | €58,223 | €0 | -€58,223 | -100.0% |
| Other amounts payable | 178/9 | €175,000 | €175,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €200,908 | €303,175 | +€102,267 | +50.9% |
| Current portion of amounts payable after more than one year | 42 | €5,670 | €0 | -€5,670 | -100.0% |
| Trade debts | 44 | €51,443 | €157,178 | +€105,734 | +205.5% |
| Suppliers | 440/4 | €51,443 | €157,178 | +€105,734 | +205.5% |
| Taxes, remuneration and social security | 45 | €12,940 | €16,542 | +€3,602 | +27.8% |
| Taxes | 450/3 | €12,940 | €16,542 | +€3,602 | +27.8% |
| Other amounts payable | 47/48 | €130,855 | €129,455 | -€1,400 | -1.1% |
| Accrued charges and deferred income | 492/3 | €7,605 | €0 | -€7,605 | -100.0% |
| Non-recurring operating income | 76A | €1,678 | €0 | -€1,678 | -100.0% |
| Remuneration, social security and pensions | 62 | €36 | €0 | -€36 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,154 | €956 | -€3,198 | -77.0% |
| Other operating charges | 640/8 | €7,083 | €4,880 | -€2,203 | -31.1% |
| Gross operating margin | 9900 | €14,659 | -€76,918 | -€91,577 | |
| Operating profit (loss) | 9901 | €3,387 | -€82,754 | -€86,141 | |
| Financial income | 75/76B | €11,082 | €9,923 | -€1,158 | -10.5% |
| Recurring financial income | 75 | €11,082 | €9,923 | -€1,158 | -10.5% |
| Financial charges | 65/66B | €13,348 | €16,135 | +€2,787 | +20.9% |
| Recurring financial charges | 65 | €12,538 | €14,204 | +€1,666 | +13.3% |
| Non-recurring financial charges | 66B | €810 | €1,931 | +€1,121 | +138.4% |
| Profit (loss) for the period before taxes | 9903 | €1,120 | -€88,966 | -€90,086 | |
| Income taxes | 67/77 | €0 | €7,126 | +€7,126 | |
| Profit (loss) for the period | 9904 | €1,120 | -€96,091 | -€97,211 | |
| Profit (loss) for the period to be appropriated | 9905 | €1,120 | -€96,091 | -€97,211 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2021 and 31 December 2022. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.