LSN DESIGN: 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.
LSN DESIGN
Largest movements
- Current investments -€146,000
down €146,000 (-69.1%), from €211,182 to €65,182
- Cash -€66,798
down €66,798 (-75.2%), from €88,850 to €22,052
mainly Other debts (-€161,587) and Tax, wage and social debts (-€103,334)
- Receivables within one year -€63,355
down €63,355 (-43.3%), from €146,180 to €82,826
of which Trade receivables: -€41,122
- Tangible fixed assets +€36,525
up €36,525 (+41.9%), from €87,243 to €123,768
of which Furniture and vehicles: +€34,696
- Other debts -€161,587
no longer reported in 2025 (was €161,587)
- Tax, wage and social debts -€103,334
down €103,334 (-80.5%), from €128,306 to €24,972
of which Taxes: -€103,390
- Trade debts +€20,869
up €20,869 (+113.8%), from €18,338 to €39,207
- Reserves +€18,102
up €18,102 (+9.2%), from €196,744 to €214,846
of which Distributable reserves: +€18,102
- Debts after one year -€9,833
down €9,833 (-44.2%), from €22,258 to €12,425
- Gross operating margin -€106,136
down €106,136 (-55.8%), from €190,295 to €84,159
- Taxes -€30,533
down €30,533 (-79.6%), from €38,370 to €7,837
- Staff costs -€15,748
down €15,748 (-36.2%), from €43,470 to €27,722
- Depreciation +€10,440
up €10,440 (+59.5%), from €17,555 to €27,995
- Other operating charges +€1,918
up €1,918 (+148.3%), from €1,294 to €3,212
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 | €555,291 | €312,111 | -€243,179 | -43.8% |
| Fixed assets | 21/28 | €87,409 | €123,768 | +€36,358 | +41.6% |
| Tangible fixed assets | 22/27 | €87,243 | €123,768 | +€36,525 | +41.9% |
| Land and buildings | 22 | €61,182 | €63,951 | +€2,769 | +4.5% |
| Plant, machinery and equipment | 23 | €5,504 | €4,565 | -€940 | -17.1% |
| Furniture and vehicles | 24 | €20,556 | €55,252 | +€34,696 | +168.8% |
| Financial fixed assets | 28 | €167 | - | -€167 | |
| Current assets | 29/58 | €467,881 | €188,343 | -€279,538 | -59.7% |
| Amounts receivable within one year | 40/41 | €146,180 | €82,826 | -€63,355 | -43.3% |
| Trade receivables | 40 | €52,056 | €10,934 | -€41,122 | -79.0% |
| Other amounts receivable | 41 | €94,124 | €71,892 | -€22,233 | -23.6% |
| Current investments | 50/53 | €211,182 | €65,182 | -€146,000 | -69.1% |
| Cash at bank and in hand | 54/58 | €88,850 | €22,052 | -€66,798 | -75.2% |
| Deferred charges and accrued income | 490/1 | €21,669 | €18,284 | -€3,385 | -15.6% |
| Total equity and liabilities | 10/49 | €555,291 | €312,111 | -€243,179 | -43.8% |
| Equity | 10/15 | €202,941 | €221,043 | +€18,102 | +8.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €196,744 | €214,846 | +€18,102 | +9.2% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €8,303 | €8,303 | = | 0.0% |
| Distributable reserves | 133 | €186,582 | €204,684 | +€18,102 | +9.7% |
| Amounts payable | 17/49 | €352,349 | €91,068 | -€261,281 | -74.2% |
| Amounts payable after more than one year | 17 | €22,258 | €12,425 | -€9,833 | -44.2% |
| Financial debts | 170/4 | €22,258 | €12,425 | -€9,833 | -44.2% |
| Amounts payable within one year | 42/48 | €329,441 | €77,827 | -€251,614 | -76.4% |
| Current portion of amounts payable after more than one year | 42 | €21,210 | €13,639 | -€7,571 | -35.7% |
| Financial debts | 43 | - | €9 | +€9 | |
| Credit institutions | 430/8 | - | €9 | +€9 | |
| Trade debts | 44 | €18,338 | €39,207 | +€20,869 | +113.8% |
| Suppliers | 440/4 | €18,338 | €39,207 | +€20,869 | +113.8% |
| Taxes, remuneration and social security | 45 | €128,306 | €24,972 | -€103,334 | -80.5% |
| Taxes | 450/3 | €118,337 | €14,947 | -€103,390 | -87.4% |
| Remuneration and social security | 454/9 | €9,968 | €10,024 | +€56 | +0.6% |
| Other amounts payable | 47/48 | €161,587 | - | -€161,587 | |
| Accrued charges and deferred income | 492/3 | €650 | €816 | +€166 | +25.6% |
| Non-recurring operating income | 76A | €7,926 | €16,229 | +€8,303 | +104.8% |
| Remuneration, social security and pensions | 62 | €43,470 | €27,722 | -€15,748 | -36.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,555 | €27,995 | +€10,440 | +59.5% |
| Other operating charges | 640/8 | €1,294 | €3,212 | +€1,918 | +148.3% |
| Non-recurring operating charges | 66A | €3,437 | - | -€3,437 | |
| Gross operating margin | 9900 | €190,295 | €84,159 | -€106,136 | -55.8% |
| Operating profit (loss) | 9901 | €124,539 | €25,230 | -€99,309 | -79.7% |
| Financial income | 75/76B | €4,586 | €5,830 | +€1,243 | +27.1% |
| Recurring financial income | 75 | €4,586 | €5,830 | +€1,243 | +27.1% |
| Financial charges | 65/66B | €3,671 | €5,121 | +€1,450 | +39.5% |
| Recurring financial charges | 65 | €3,671 | €5,121 | +€1,450 | +39.5% |
| Profit (loss) for the period before taxes | 9903 | €125,455 | €25,939 | -€99,516 | -79.3% |
| Income taxes | 67/77 | €38,370 | €7,837 | -€30,533 | -79.6% |
| Profit (loss) for the period | 9904 | €87,085 | €18,102 | -€68,983 | -79.2% |
| Profit (loss) for the period to be appropriated | 9905 | €87,085 | €18,102 | -€68,983 | -79.2% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 4 October 2026 via checked.be.