LSN Management: 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 Management
Largest movements
- Cash +€35,658
up €35,658 (+81.4%), from €43,790 to €79,448
mainly Other debts (+€35,206) and Depreciation (+€9,966)
- Receivables within one year +€11,271
up €11,271 (+413.0%), from €2,729 to €14,000
of which Trade receivables: +€12,145
- Tangible fixed assets -€5,699
down €5,699 (-19.8%), from €28,853 to €23,154
of which Furniture and vehicles: -€9,966
- Other debts +€35,206
up €35,206 (+209.3%), from €16,823 to €52,029
- Trade debts +€6,059
up €6,059 (+76.9%), from €7,879 to €13,939
- Tax, wage and social debts -€2,223
down €2,223 (-14.3%), from €15,570 to €13,347
of which Taxes: -€2,162
- Profit (loss) carried forward +€2,201
up €2,201 (+7.3%), from €30,179 to €32,380
- Gross operating margin +€25,304
up €25,304 (+66.8%), from €37,860 to €63,164
- Financial charges +€22,926
up €22,926 (+91.9%), from €24,942 to €47,868
- Taxes +€820
up €820 (+41.5%), from €1,974 to €2,794
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 | €75,452 | €116,695 | +€41,244 | +54.7% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €28,932 | €23,233 | -€5,699 | -19.7% |
| Tangible fixed assets | 22/27 | €28,853 | €23,154 | -€5,699 | -19.8% |
| Furniture and vehicles | 24 | €28,853 | €18,887 | -€9,966 | -34.5% |
| Other tangible fixed assets | 26 | - | €4,267 | +€4,267 | |
| Financial fixed assets | 28 | €79 | €79 | = | 0.0% |
| Current assets | 29/58 | €46,520 | €93,462 | +€46,943 | +100.9% |
| Amounts receivable within one year | 40/41 | €2,729 | €14,000 | +€11,271 | +413.0% |
| Trade receivables | 40 | €1,855 | €14,000 | +€12,145 | +654.8% |
| Other amounts receivable | 41 | €875 | - | -€875 | |
| Cash at bank and in hand | 54/58 | €43,790 | €79,448 | +€35,658 | +81.4% |
| Deferred charges and accrued income | 490/1 | - | €14 | +€14 | |
| Total equity and liabilities | 10/49 | €75,452 | €116,695 | +€41,244 | +54.7% |
| Equity | 10/15 | €35,179 | €37,380 | +€2,201 | +6.3% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €30,179 | €32,380 | +€2,201 | +7.3% |
| Amounts payable | 17/49 | €40,272 | €79,315 | +€39,042 | +96.9% |
| Amounts payable within one year | 42/48 | €40,272 | €79,315 | +€39,042 | +96.9% |
| Trade debts | 44 | €7,879 | €13,939 | +€6,059 | +76.9% |
| Suppliers | 440/4 | €7,879 | €13,939 | +€6,059 | +76.9% |
| Taxes, remuneration and social security | 45 | €15,570 | €13,347 | -€2,223 | -14.3% |
| Taxes | 450/3 | €13,649 | €11,487 | -€2,162 | -15.8% |
| Remuneration and social security | 454/9 | €1,921 | €1,860 | -€61 | -3.2% |
| Other amounts payable | 47/48 | €16,823 | €52,029 | +€35,206 | +209.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,966 | €9,966 | = | 0.0% |
| Other operating charges | 640/8 | €100 | €335 | +€235 | +234.9% |
| Gross operating margin | 9900 | €37,860 | €63,164 | +€25,304 | +66.8% |
| Operating profit (loss) | 9901 | €27,794 | €52,863 | +€25,069 | +90.2% |
| Financial charges | 65/66B | €24,942 | €47,868 | +€22,926 | +91.9% |
| Recurring financial charges | 65 | €24,942 | €47,868 | +€22,926 | +91.9% |
| Profit (loss) for the period before taxes | 9903 | €2,852 | €4,995 | +€2,143 | +75.1% |
| Income taxes | 67/77 | €1,974 | €2,794 | +€820 | +41.5% |
| Profit (loss) for the period | 9904 | €878 | €2,201 | +€1,323 | +150.7% |
| Profit (loss) for the period to be appropriated | 9905 | €878 | €2,201 | +€1,323 | +150.7% |
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 6 October 2026 via checked.be.