LSM Shop: what changed
Two financial 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.
LSM Shop
Largest movements
- Tangible fixed assets -€18,570
down €18,570 (-40.0%), from €46,464 to €27,894
- Cash +€14,032
up €14,032 (+27.3%), from €51,422 to €65,454
mainly Depreciation (+€18,570) and Net result for the year (+€16,835)
- Stocks and contracts -€10,657
down €10,657 (-21.0%), from €50,804 to €40,147
- Current investments +€7,761
up €7,761 (+9.4%), from €82,705 to €90,466
- Receivables within one year -€4,127
down €4,127 (-7.4%), from €55,855 to €51,727
of which Trade receivables: -€2,680
- Reserves -€14,230
down €14,230 (-6.3%), from €227,410 to €213,180
of which Distributable reserves: -€12,370
- Trade debts +€13,975
up €13,975 (+63.3%), from €22,084 to €36,059
- Debts after one year -€8,404
down €8,404 (-56.5%), from €14,868 to €6,464
- Current portion of long-term debt -€7,428
down €7,428 (-46.9%), from €15,832 to €8,404
- Gross operating margin -€16,673
down €16,673 (-13.1%), from €127,684 to €111,012
- Staff costs +€12,137
up €12,137 (+25.9%), from €46,799 to €58,935
- Taxes -€6,639
down €6,639 (-50.4%), from €13,176 to €6,537
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.
Derived cash bridge
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 | €303,011 | €290,121 | -€12,890 | -4.3% |
| Fixed assets | 21/28 | €50,764 | €32,334 | -€18,430 | -36.3% |
| Tangible fixed assets | 22/27 | €46,464 | €27,894 | -€18,570 | -40.0% |
| Furniture and vehicles | 24 | €46,464 | €27,894 | -€18,570 | -40.0% |
| Financial fixed assets | 28 | €4,300 | €4,440 | +€140 | +3.3% |
| Current assets | 29/58 | €252,247 | €257,788 | +€5,540 | +2.2% |
| Stocks and contracts in progress | 3 | €50,804 | €40,147 | -€10,657 | -21.0% |
| Stocks | 30/36 | €50,804 | €40,147 | -€10,657 | -21.0% |
| Amounts receivable within one year | 40/41 | €55,855 | €51,727 | -€4,127 | -7.4% |
| Trade receivables | 40 | €10,685 | €8,005 | -€2,680 | -25.1% |
| Other amounts receivable | 41 | €45,170 | €43,722 | -€1,448 | -3.2% |
| Current investments | 50/53 | €82,705 | €90,466 | +€7,761 | +9.4% |
| Cash at bank and in hand | 54/58 | €51,422 | €65,454 | +€14,032 | +27.3% |
| Deferred charges and accrued income | 490/1 | €11,462 | €9,993 | -€1,469 | -12.8% |
| Total equity and liabilities | 10/49 | €303,011 | €290,121 | -€12,890 | -4.3% |
| Equity | 10/15 | €233,784 | €221,419 | -€12,365 | -5.3% |
| Contributions | 10/11 | €6,200 | €8,060 | +€1,860 | +30.0% |
| Reserves | 13 | €227,410 | €213,180 | -€14,230 | -6.3% |
| Non-distributable reserves | 130/1 | €1,860 | - | -€1,860 | |
| Reserves not available under the articles | 1311 | €1,860 | - | -€1,860 | |
| Distributable reserves | 133 | €225,550 | €213,180 | -€12,370 | -5.5% |
| Profit (loss) carried forward | 14 | €174 | €179 | +€5 | +2.8% |
| Amounts payable | 17/49 | €69,227 | €68,703 | -€525 | -0.8% |
| Amounts payable after more than one year | 17 | €14,868 | €6,464 | -€8,404 | -56.5% |
| Financial debts | 170/4 | €14,868 | €6,464 | -€8,404 | -56.5% |
| Amounts payable within one year | 42/48 | €54,186 | €62,165 | +€7,980 | +14.7% |
| Current portion of amounts payable after more than one year | 42 | €15,832 | €8,404 | -€7,428 | -46.9% |
| Trade debts | 44 | €22,084 | €36,059 | +€13,975 | +63.3% |
| Suppliers | 440/4 | €22,084 | €36,059 | +€13,975 | +63.3% |
| Taxes, remuneration and social security | 45 | €14,202 | €16,291 | +€2,089 | +14.7% |
| Taxes | 450/3 | €8,329 | €6,609 | -€1,720 | -20.7% |
| Remuneration and social security | 454/9 | €5,873 | €9,683 | +€3,810 | +64.9% |
| Other amounts payable | 47/48 | €2,068 | €1,411 | -€657 | -31.8% |
| Accrued charges and deferred income | 492/3 | €173 | €73 | -€100 | -57.7% |
| Remuneration, social security and pensions | 62 | €46,799 | €58,935 | +€12,137 | +25.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,608 | €18,570 | -€38 | -0.2% |
| Other operating charges | 640/8 | €7,960 | €7,865 | -€95 | -1.2% |
| Gross operating margin | 9900 | €127,684 | €111,012 | -€16,673 | -13.1% |
| Operating profit (loss) | 9901 | €54,318 | €25,642 | -€28,676 | -52.8% |
| Financial income | 75/76B | €1,038 | €383 | -€655 | -63.1% |
| Recurring financial income | 75 | €1,038 | €383 | -€655 | -63.1% |
| Financial charges | 65/66B | €2,636 | €2,653 | +€17 | +0.6% |
| Recurring financial charges | 65 | €2,636 | €2,653 | +€17 | +0.6% |
| Profit (loss) for the period before taxes | 9903 | €52,720 | €23,372 | -€29,348 | -55.7% |
| Income taxes | 67/77 | €13,176 | €6,537 | -€6,639 | -50.4% |
| Profit (loss) for the period | 9904 | €39,543 | €16,835 | -€22,709 | -57.4% |
| Profit (loss) for the period to be appropriated | 9905 | €39,543 | €16,835 | -€22,709 | -57.4% |
Source: filed annual accounts (NBB), financial 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 October 2026 via checked.be.