LSGe: 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.
LSGe
Largest movements
- Cash +€39,164
up €39,164 (+42.6%), from €91,895 to €131,059
mainly Net result for the year (+€38,945) and Advances received (+€2,735)
- Reserves +€37,845
up €37,845 (+47.8%), from €79,143 to €116,989
- Tax, wage and social debts -€3,948
down €3,948 (-50.4%), from €7,836 to €3,888
- Advances received +€2,735
up €2,735 (+120.9%), from €2,262 to €4,997
- Gross operating margin +€1,977
up €1,977 (+4.0%), from €49,823 to €51,800
- Taxes +€689
up €689 (+6.8%), from €10,083 to €10,772
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 | €106,541 | €145,526 | +€38,985 | +36.6% |
| Fixed assets | 21/28 | €2,400 | €1,600 | -€800 | -33.3% |
| Intangible fixed assets | 21 | €2,400 | €1,600 | -€800 | -33.3% |
| Current assets | 29/58 | €104,141 | €143,926 | +€39,785 | +38.2% |
| Stocks and contracts in progress | 3 | €5,206 | €5,085 | -€121 | -2.3% |
| Stocks | 30/36 | €5,206 | €5,085 | -€121 | -2.3% |
| Amounts receivable within one year | 40/41 | €7,039 | €7,781 | +€742 | +10.5% |
| Trade receivables | 40 | €2,120 | €3,072 | +€953 | +44.9% |
| Other amounts receivable | 41 | €4,920 | €4,708 | -€211 | -4.3% |
| Cash at bank and in hand | 54/58 | €91,895 | €131,059 | +€39,164 | +42.6% |
| Total equity and liabilities | 10/49 | €106,541 | €145,526 | +€38,985 | +36.6% |
| Equity | 10/15 | €81,643 | €119,489 | +€37,845 | +46.4% |
| Contributions | 10/11 | €2,500 | €2,500 | = | 0.0% |
| Reserves | 13 | €79,143 | €116,989 | +€37,845 | +47.8% |
| Distributable reserves | 133 | €79,143 | €116,989 | +€37,845 | +47.8% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €24,897 | €26,037 | +€1,140 | +4.6% |
| Amounts payable within one year | 42/48 | €24,897 | €26,037 | +€1,140 | +4.6% |
| Trade debts | 44 | €3,559 | €4,846 | +€1,288 | +36.2% |
| Suppliers | 440/4 | €3,559 | €4,846 | +€1,288 | +36.2% |
| Advances received on contracts in progress | 46 | €2,262 | €4,997 | +€2,735 | +120.9% |
| Taxes, remuneration and social security | 45 | €7,836 | €3,888 | -€3,948 | -50.4% |
| Taxes | 450/3 | €7,836 | €3,888 | -€3,948 | -50.4% |
| Other amounts payable | 47/48 | €11,241 | €12,307 | +€1,065 | +9.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €800 | €800 | = | 0.0% |
| Other operating charges | 640/8 | €1,381 | €1,775 | +€394 | +28.5% |
| Gross operating margin | 9900 | €49,823 | €51,800 | +€1,977 | +4.0% |
| Operating profit (loss) | 9901 | €47,642 | €49,224 | +€1,583 | +3.3% |
| Financial income | 75/76B | €641 | €767 | +€126 | +19.7% |
| Recurring financial income | 75 | €641 | €767 | +€126 | +19.7% |
| Financial charges | 65/66B | €403 | €275 | -€129 | -31.9% |
| Recurring financial charges | 65 | €403 | €275 | -€129 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | €47,879 | €49,717 | +€1,838 | +3.8% |
| Income taxes | 67/77 | €10,083 | €10,772 | +€689 | +6.8% |
| Profit (loss) for the period | 9904 | €37,796 | €38,945 | +€1,149 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €37,796 | €38,945 | +€1,149 | +3.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.