LSQ: 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.
LSQ
Largest movements
- Cash -€3,921
down €3,921 (-93.0%), from €4,214 to €293
mainly Net result for the year (-€22,614) and Investment in fixed assets (net) (-€7,676)
- Receivables within one year -€730
down €730 (-18.4%), from €3,960 to €3,230
- Tangible fixed assets +€501
up €501 (+2.4%), from €20,527 to €21,028
- Profit (loss) carried forward -€22,614
down €22,614 (-39.2%), from -€57,678 to -€80,291
- Other debts +€18,078
up €18,078 (+26.5%), from €68,241 to €86,320
- Trade debts +€1,412
up €1,412 (+71.7%), from €1,970 to €3,382
- Tax, wage and social debts -€699
down €699 (-81.7%), from €856 to €157
- Gross operating margin -€15,721
down €15,721, from €1,041 to -€14,680
- Depreciation +€6,633
up €6,633 (+1223.5%), from €542 to €7,175
- Taxes +€151
new in 2025: €151
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 | €34,855 | €30,866 | -€3,990 | -11.4% |
| Fixed assets | 21/28 | €20,527 | €21,028 | +€501 | +2.4% |
| Tangible fixed assets | 22/27 | €20,527 | €21,028 | +€501 | +2.4% |
| Furniture and vehicles | 24 | €20,527 | €21,028 | +€501 | +2.4% |
| Current assets | 29/58 | €14,329 | €9,838 | -€4,491 | -31.3% |
| Stocks and contracts in progress | 3 | €4,792 | €4,792 | = | 0.0% |
| Stocks | 30/36 | €4,792 | €4,792 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €3,960 | €3,230 | -€730 | -18.4% |
| Trade receivables | 40 | €3,960 | €3,230 | -€730 | -18.4% |
| Cash at bank and in hand | 54/58 | €4,214 | €293 | -€3,921 | -93.0% |
| Deferred charges and accrued income | 490/1 | €1,363 | €1,523 | +€160 | +11.7% |
| Total equity and liabilities | 10/49 | €34,855 | €30,866 | -€3,990 | -11.4% |
| Equity | 10/15 | -€37,218 | -€59,831 | -€22,614 | -60.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€57,678 | -€80,291 | -€22,614 | -39.2% |
| Amounts payable | 17/49 | €72,073 | €90,697 | +€18,624 | +25.8% |
| Amounts payable within one year | 42/48 | €71,067 | €89,858 | +€18,791 | +26.4% |
| Trade debts | 44 | €1,970 | €3,382 | +€1,412 | +71.7% |
| Suppliers | 440/4 | €1,970 | €3,382 | +€1,412 | +71.7% |
| Taxes, remuneration and social security | 45 | €856 | €157 | -€699 | -81.7% |
| Taxes | 450/3 | €856 | €157 | -€699 | -81.7% |
| Other amounts payable | 47/48 | €68,241 | €86,320 | +€18,078 | +26.5% |
| Accrued charges and deferred income | 492/3 | €1,006 | €839 | -€167 | -16.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €542 | €7,175 | +€6,633 | +1223.5% |
| Other operating charges | 640/8 | €571 | €549 | -€22 | -3.9% |
| Gross operating margin | 9900 | €1,041 | -€14,680 | -€15,721 | |
| Operating profit (loss) | 9901 | -€72 | -€22,403 | -€22,331 | -31123.4% |
| Financial income | 75/76B | - | €0 | +€0 | |
| Recurring financial income | 75 | - | €0 | +€0 | |
| Financial charges | 65/66B | €46 | €60 | +€14 | +31.6% |
| Recurring financial charges | 65 | €46 | €60 | +€14 | +31.6% |
| Profit (loss) for the period before taxes | 9903 | -€117 | -€22,463 | -€22,345 | -19025.4% |
| Income taxes | 67/77 | - | €151 | +€151 | |
| Profit (loss) for the period | 9904 | -€117 | -€22,614 | -€22,496 | -19154.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€117 | -€22,614 | -€22,496 | -19154.0% |
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 8 October 2026 via checked.be.