LSGI SERVICES: 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.
LSGI SERVICES
Largest movements
- Receivables within one year -€2.8m
down €2.8m (-51.8%), from €5.5m to €2.6m
of which Trade receivables: -€2.9m
- Cash +€817,613
up €817,613 (+361.5%), from €226,192 to €1.0m
mainly Receivables within one year (+€2.8m) and Provisions (+€240,000)
- Deferred charges and accrued income +€139,606
up €139,606 (+129.6%), from €107,733 to €247,340
- Current portion of long-term debt -€1.6m
down €1.6m (-100.0%), from €1.6m to €118
- Trade debts -€490,879
down €490,879 (-23.0%), from €2.1m to €1.6m
- Provisions +€240,000
new in 2025: €240,000
- Tax, wage and social debts -€208,334
down €208,334 (-19.8%), from €1.1m to €842,050
of which Remuneration and social security: -€125,347
- Profit (loss) carried forward +€171,578
up €171,578 (+18.5%), from €925,693 to €1.1m
- Gross operating margin +€1.8m
up €1.8m (+52.6%), from €3.4m to €5.2m
- Staff costs +€1.6m
up €1.6m (+52.1%), from €3.1m to €4.7m
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 | €5,824,720 | €3,947,299 | -€1.9m | -32.2% |
| Fixed assets | 21/28 | €8,687 | €13,238 | +€4,551 | +52.4% |
| Tangible fixed assets | 22/27 | €8,687 | €7,709 | -€978 | -11.3% |
| Furniture and vehicles | 24 | €8,687 | €7,709 | -€978 | -11.3% |
| Financial fixed assets | 28 | - | €5,529 | +€5,529 | |
| Current assets | 29/58 | €5,816,033 | €3,934,062 | -€1.9m | -32.4% |
| Amounts receivable within one year | 40/41 | €5,482,108 | €2,642,917 | -€2.8m | -51.8% |
| Trade receivables | 40 | €5,481,712 | €2,629,198 | -€2.9m | -52.0% |
| Other amounts receivable | 41 | €396 | €13,719 | +€13,323 | +3366.2% |
| Cash at bank and in hand | 54/58 | €226,192 | €1,043,805 | +€817,613 | +361.5% |
| Deferred charges and accrued income | 490/1 | €107,733 | €247,340 | +€139,606 | +129.6% |
| Total equity and liabilities | 10/49 | €5,824,720 | €3,947,299 | -€1.9m | -32.2% |
| Equity | 10/15 | €1,035,693 | €1,207,271 | +€171,578 | +16.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €10,000 | €10,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €925,693 | €1,097,271 | +€171,578 | +18.5% |
| Provisions and deferred taxes | 16 | - | €240,000 | +€240,000 | |
| Provisions for liabilities and charges | 160/5 | - | €240,000 | +€240,000 | |
| Other liabilities and charges | 164/5 | - | €240,000 | +€240,000 | |
| Amounts payable | 17/49 | €4,789,027 | €2,500,029 | -€2.3m | -47.8% |
| Amounts payable within one year | 42/48 | €4,789,027 | €2,500,029 | -€2.3m | -47.8% |
| Current portion of amounts payable after more than one year | 42 | €1,588,851 | €118 | -€1.6m | -100.0% |
| Trade debts | 44 | €2,137,740 | €1,646,861 | -€490,879 | -23.0% |
| Suppliers | 440/4 | €2,137,740 | €1,646,861 | -€490,879 | -23.0% |
| Taxes, remuneration and social security | 45 | €1,050,385 | €842,050 | -€208,334 | -19.8% |
| Taxes | 450/3 | €248,651 | €165,663 | -€82,988 | -33.4% |
| Remuneration and social security | 454/9 | €801,734 | €676,387 | -€125,347 | -15.6% |
| Other amounts payable | 47/48 | €12,052 | €11,000 | -€1,052 | -8.7% |
| Remuneration, social security and pensions | 62 | €3,073,121 | €4,673,478 | +€1.6m | +52.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,030 | €3,915 | -€114 | -2.8% |
| Other operating charges | 640/8 | €10,964 | €7,438 | -€3,526 | -32.2% |
| Non-recurring operating charges | 66A | - | €240,000 | +€240,000 | |
| Gross operating margin | 9900 | €3,380,907 | €5,160,903 | +€1.8m | +52.6% |
| Operating profit (loss) | 9901 | €292,793 | €236,072 | -€56,721 | -19.4% |
| Financial income | 75/76B | €12 | €20 | +€8 | +67.3% |
| Recurring financial income | 75 | €12 | €20 | +€8 | +67.3% |
| Financial charges | 65/66B | €4,075 | €4,988 | +€913 | +22.4% |
| Recurring financial charges | 65 | €4,075 | €4,988 | +€913 | +22.4% |
| Profit (loss) for the period before taxes | 9903 | €288,730 | €231,105 | -€57,625 | -20.0% |
| Income taxes | 67/77 | €81,736 | €59,527 | -€22,209 | -27.2% |
| Profit (loss) for the period | 9904 | €206,994 | €171,578 | -€35,417 | -17.1% |
| Profit (loss) for the period to be appropriated | 9905 | €206,994 | €171,578 | -€35,417 | -17.1% |
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 4 October 2026 via checked.be.