LSH: 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.
LSH
Largest movements
- Cash +€19,409
up €19,409 (+11.7%), from €165,869 to €185,278
mainly Net result for the year (+€72,117) and Accrued charges and deferred income (+€19,073)
- Receivables after one year +€19,000
new in 2025: €19,000
- Tangible fixed assets +€6,813
new in 2025: €6,813
- Receivables within one year +€6,462
new in 2025: €6,462
- Reserves +€72,117
up €72,117 (+56.1%), from €128,502 to €200,619
- Tax, wage and social debts -€29,782
no longer reported in 2025 (was €29,782)
- Accrued charges and deferred income +€19,073
new in 2025: €19,073
- Debts after one year -€13,000
no longer reported in 2025 (was €13,000)
- Trade debts +€5,248
up €5,248 (+721.6%), from €727 to €5,976
- Gross operating margin -€73,638
down €73,638 (-44.2%), from €166,421 to €92,783
- Taxes -€17,850
down €17,850 (-48.5%), from €36,782 to €18,932
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 | €175,011 | €228,668 | +€53,656 | +30.7% |
| Fixed assets | 21/28 | - | €6,813 | +€6,813 | |
| Tangible fixed assets | 22/27 | - | €6,813 | +€6,813 | |
| Furniture and vehicles | 24 | - | €6,813 | +€6,813 | |
| Current assets | 29/58 | €175,011 | €221,855 | +€46,844 | +26.8% |
| Amounts receivable after more than one year | 29 | - | €19,000 | +€19,000 | |
| Other amounts receivable | 291 | - | €19,000 | +€19,000 | |
| Amounts receivable within one year | 40/41 | - | €6,462 | +€6,462 | |
| Other amounts receivable | 41 | - | €6,462 | +€6,462 | |
| Cash at bank and in hand | 54/58 | €165,869 | €185,278 | +€19,409 | +11.7% |
| Deferred charges and accrued income | 490/1 | €9,143 | €11,116 | +€1,973 | +21.6% |
| Total equity and liabilities | 10/49 | €175,011 | €228,668 | +€53,656 | +30.7% |
| Equity | 10/15 | €131,502 | €203,619 | +€72,117 | +54.8% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €128,502 | €200,619 | +€72,117 | +56.1% |
| Distributable reserves | 133 | €128,502 | €200,619 | +€72,117 | +56.1% |
| Amounts payable | 17/49 | €43,510 | €25,049 | -€18,461 | -42.4% |
| Amounts payable after more than one year | 17 | €13,000 | - | -€13,000 | |
| Financial debts | 170/4 | €13,000 | - | -€13,000 | |
| Amounts payable within one year | 42/48 | €30,509 | €5,976 | -€24,534 | -80.4% |
| Trade debts | 44 | €727 | €5,976 | +€5,248 | +721.6% |
| Suppliers | 440/4 | €727 | €5,976 | +€5,248 | +721.6% |
| Taxes, remuneration and social security | 45 | €29,782 | - | -€29,782 | |
| Taxes | 450/3 | €29,782 | - | -€29,782 | |
| Accrued charges and deferred income | 492/3 | - | €19,073 | +€19,073 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,537 | +€1,537 | |
| Other operating charges | 640/8 | €1,126 | €520 | -€606 | -53.8% |
| Gross operating margin | 9900 | €166,421 | €92,783 | -€73,638 | -44.2% |
| Operating profit (loss) | 9901 | €165,295 | €90,726 | -€74,569 | -45.1% |
| Financial income | 75/76B | - | €394 | +€394 | |
| Recurring financial income | 75 | - | €394 | +€394 | |
| Financial charges | 65/66B | €11 | €70 | +€59 | +533.8% |
| Recurring financial charges | 65 | €11 | €70 | +€59 | +533.8% |
| Profit (loss) for the period before taxes | 9903 | €165,284 | €91,049 | -€74,235 | -44.9% |
| Income taxes | 67/77 | €36,782 | €18,932 | -€17,850 | -48.5% |
| Profit (loss) for the period | 9904 | €128,502 | €72,117 | -€56,385 | -43.9% |
| Profit (loss) for the period to be appropriated | 9905 | €128,502 | €72,117 | -€56,385 | -43.9% |
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 30 September 2026 via checked.be.