LSR: 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.
LSR
Largest movements
- Tangible fixed assets -€72,820
down €72,820 (-4.2%), from €1.7m to €1.7m
of which Land and buildings: -€41,888
- Other debts -€47,607
down €47,607 (-5.3%), from €899,487 to €851,880
- Profit (loss) carried forward +€46,000
up €46,000 (+152.2%), from €30,231 to €76,231
- Debts after one year -€45,465
down €45,465 (-19.9%), from €228,067 to €182,601
- Accrued charges and deferred income -€20,732
down €20,732 (-18.5%), from €111,955 to €91,223
- Financial charges -€11,399
down €11,399 (-27.2%), from €41,956 to €30,557
- Gross operating margin -€4,988
down €4,988 (-2.8%), from €175,816 to €170,827
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 | €1,818,008 | €1,754,832 | -€63,176 | -3.5% |
| Fixed assets | 21/28 | €1,744,357 | €1,671,537 | -€72,820 | -4.2% |
| Tangible fixed assets | 22/27 | €1,744,357 | €1,671,537 | -€72,820 | -4.2% |
| Land and buildings | 22 | €1,106,589 | €1,064,701 | -€41,888 | -3.8% |
| Furniture and vehicles | 24 | €1,667 | €1,236 | -€431 | -25.8% |
| Leasing and similar rights | 25 | €636,101 | €605,600 | -€30,501 | -4.8% |
| Current assets | 29/58 | €73,651 | €83,295 | +€9,644 | +13.1% |
| Amounts receivable within one year | 40/41 | €61,091 | €66,038 | +€4,946 | +8.1% |
| Other amounts receivable | 41 | €61,091 | €66,038 | +€4,946 | +8.1% |
| Cash at bank and in hand | 54/58 | €6,250 | €10,701 | +€4,451 | +71.2% |
| Deferred charges and accrued income | 490/1 | €6,309 | €6,556 | +€247 | +3.9% |
| Total equity and liabilities | 10/49 | €1,818,008 | €1,754,832 | -€63,176 | -3.5% |
| Equity | 10/15 | €534,143 | €582,564 | +€48,421 | +9.1% |
| Contributions | 10/11 | €501,977 | €501,977 | = | 0.0% |
| Capital | 10 | €501,000 | €501,000 | = | 0.0% |
| Issued capital | 100 | €501,000 | €501,000 | = | 0.0% |
| Outside capital | 11 | €977 | €977 | = | 0.0% |
| Share premium | 1100/10 | €977 | €977 | = | 0.0% |
| Reserves | 13 | €1,935 | €4,356 | +€2,421 | +125.1% |
| Non-distributable reserves | 130/1 | €1,935 | €4,356 | +€2,421 | +125.1% |
| Legal reserve | 130 | €1,935 | €4,356 | +€2,421 | +125.1% |
| Profit (loss) carried forward | 14 | €30,231 | €76,231 | +€46,000 | +152.2% |
| Amounts payable | 17/49 | €1,283,865 | €1,172,268 | -€111,597 | -8.7% |
| Amounts payable after more than one year | 17 | €228,067 | €182,601 | -€45,465 | -19.9% |
| Financial debts | 170/4 | €228,067 | €182,601 | -€45,465 | -19.9% |
| Amounts payable within one year | 42/48 | €943,844 | €898,444 | -€45,400 | -4.8% |
| Current portion of amounts payable after more than one year | 42 | €44,357 | €45,565 | +€1,208 | +2.7% |
| Trade debts | 44 | - | €998 | +€998 | |
| Suppliers | 440/4 | - | €998 | +€998 | |
| Other amounts payable | 47/48 | €899,487 | €851,880 | -€47,607 | -5.3% |
| Accrued charges and deferred income | 492/3 | €111,955 | €91,223 | -€20,732 | -18.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,007 | €80,148 | +€1,141 | +1.4% |
| Other operating charges | 640/8 | €12,264 | €12,648 | +€384 | +3.1% |
| Gross operating margin | 9900 | €175,816 | €170,827 | -€4,988 | -2.8% |
| Operating profit (loss) | 9901 | €84,545 | €78,032 | -€6,513 | -7.7% |
| Financial income | 75/76B | €881 | €946 | +€66 | +7.5% |
| Recurring financial income | 75 | €881 | €946 | +€66 | +7.5% |
| Financial charges | 65/66B | €41,956 | €30,557 | -€11,399 | -27.2% |
| Recurring financial charges | 65 | €41,956 | €30,557 | -€11,399 | -27.2% |
| Profit (loss) for the period before taxes | 9903 | €43,470 | €48,421 | +€4,951 | +11.4% |
| Profit (loss) for the period | 9904 | €43,470 | €48,421 | +€4,951 | +11.4% |
| Profit (loss) for the period to be appropriated | 9905 | €43,470 | €48,421 | +€4,951 | +11.4% |
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 5 October 2026 via checked.be.