LSP1: 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.
LSP1
Largest movements
- Tangible fixed assets -€93,189
down €93,189 (-2.1%), from €4.5m to €4.4m
of which Land and buildings: -€136,270
- Debts after one year -€215,463
down €215,463 (-8.4%), from €2.6m to €2.4m
- Profit (loss) carried forward +€51,781
up €51,781 (+9.3%), from -€555,671 to -€503,890
- Gross operating margin +€261,314
up €261,314 (+445.3%), from €58,685 to €319,999
- Write-downs -€191,285
down €191,285 (-100.0%), from €191,285 to €0
- Depreciation +€102,027
up €102,027 (+298.0%), from €34,243 to €136,270
- Financial income -€95,566
down €95,566 (-100.0%), from €95,566 to €0
- Financial charges -€7,571
down €7,571 (-6.4%), from €117,751 to €110,180
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 | €5,085,073 | €4,979,690 | -€105,383 | -2.1% |
| Fixed assets | 21/28 | €4,533,266 | €4,440,077 | -€93,189 | -2.1% |
| Tangible fixed assets | 22/27 | €4,533,266 | €4,440,077 | -€93,189 | -2.1% |
| Land and buildings | 22 | €3,795,603 | €3,659,333 | -€136,270 | -3.6% |
| Assets under construction and advance payments | 27 | €737,663 | €780,744 | +€43,081 | +5.8% |
| Current assets | 29/58 | €551,807 | €539,613 | -€12,194 | -2.2% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €67,185 | €56,275 | -€10,909 | -16.2% |
| Trade receivables | 40 | €65,257 | €56,275 | -€8,981 | -13.8% |
| Other amounts receivable | 41 | €1,928 | €0 | -€1,928 | -100.0% |
| Cash at bank and in hand | 54/58 | €404,414 | €407,363 | +€2,948 | +0.7% |
| Deferred charges and accrued income | 490/1 | €80,208 | €75,975 | -€4,233 | -5.3% |
| Total equity and liabilities | 10/49 | €5,085,073 | €4,979,690 | -€105,383 | -2.1% |
| Equity | 10/15 | €194,329 | €246,110 | +€51,781 | +26.6% |
| Contributions | 10/11 | €750,000 | €750,000 | = | 0.0% |
| Capital | 10 | €750,000 | €750,000 | = | 0.0% |
| Issued capital | 100 | €750,000 | €750,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€555,671 | -€503,890 | +€51,781 | +9.3% |
| Amounts payable | 17/49 | €4,890,744 | €4,733,580 | -€157,164 | -3.2% |
| Amounts payable after more than one year | 17 | €2,570,297 | €2,354,834 | -€215,463 | -8.4% |
| Financial debts | 170/4 | €2,570,297 | €2,354,834 | -€215,463 | -8.4% |
| Amounts payable within one year | 42/48 | €2,280,264 | €2,341,667 | +€61,403 | +2.7% |
| Current portion of amounts payable after more than one year | 42 | €227,686 | €233,188 | +€5,502 | +2.4% |
| Trade debts | 44 | €53,581 | €57,665 | +€4,084 | +7.6% |
| Suppliers | 440/4 | €53,581 | €57,665 | +€4,084 | +7.6% |
| Taxes, remuneration and social security | 45 | €0 | €21,615 | +€21,615 | |
| Taxes | 450/3 | €0 | €21,615 | +€21,615 | |
| Other amounts payable | 47/48 | €1,998,997 | €2,029,200 | +€30,203 | +1.5% |
| Accrued charges and deferred income | 492/3 | €40,184 | €37,079 | -€3,105 | -7.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,243 | €136,270 | +€102,027 | +298.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €191,285 | €0 | -€191,285 | -100.0% |
| Other operating charges | 640/8 | €21,149 | €21,767 | +€618 | +2.9% |
| Gross operating margin | 9900 | €58,685 | €319,999 | +€261,314 | +445.3% |
| Operating profit (loss) | 9901 | -€187,993 | €161,962 | +€349,955 | |
| Financial income | 75/76B | €95,566 | €0 | -€95,566 | -100.0% |
| Recurring financial income | 75 | €95,566 | €0 | -€95,566 | -100.0% |
| Financial charges | 65/66B | €117,751 | €110,180 | -€7,571 | -6.4% |
| Recurring financial charges | 65 | €117,751 | €110,180 | -€7,571 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | -€210,179 | €51,781 | +€261,960 | |
| Profit (loss) for the period | 9904 | -€210,179 | €51,781 | +€261,960 | |
| Profit (loss) for the period to be appropriated | 9905 | -€210,179 | €51,781 | +€261,960 |
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 10 October 2026 via checked.be.