LSTEC: 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.
LSTEC
Largest movements
- Cash +€17,448
up €17,448 (+766.4%), from €2,277 to €19,724
mainly Net result for the year (+€33,859) and Depreciation (+€12,103)
- Tangible fixed assets -€9,640
down €9,640 (-79.4%), from €12,138 to €2,497
- Receivables within one year -€3,600
down €3,600 (-21.3%), from €16,908 to €13,307
of which Other amounts receivable: -€6,834
- Deferred charges and accrued income -€598
down €598 (-15.7%), from €3,799 to €3,201
- Tax, wage and social debts +€3,312
up €3,312 (+70.0%), from €4,733 to €8,045
- Accrued charges and deferred income +€400
new in 2025: €400
- Gross operating margin +€22,056
up €22,056 (+64.2%), from €34,374 to €56,431
- Depreciation +€9,752
up €9,752 (+414.7%), from €2,351 to €12,103
- Taxes +€2,051
up €2,051 (+28.6%), from €7,168 to €9,219
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 | €35,121 | €38,730 | +€3,610 | +10.3% |
| Fixed assets | 21/28 | €12,138 | €2,497 | -€9,640 | -79.4% |
| Tangible fixed assets | 22/27 | €12,138 | €2,497 | -€9,640 | -79.4% |
| Furniture and vehicles | 24 | €12,138 | €2,497 | -€9,640 | -79.4% |
| Current assets | 29/58 | €22,983 | €36,233 | +€13,250 | +57.7% |
| Amounts receivable within one year | 40/41 | €16,908 | €13,307 | -€3,600 | -21.3% |
| Trade receivables | 40 | €9,741 | €12,975 | +€3,234 | +33.2% |
| Other amounts receivable | 41 | €7,167 | €332 | -€6,834 | -95.4% |
| Cash at bank and in hand | 54/58 | €2,277 | €19,724 | +€17,448 | +766.4% |
| Deferred charges and accrued income | 490/1 | €3,799 | €3,201 | -€598 | -15.7% |
| Total equity and liabilities | 10/49 | €35,121 | €38,730 | +€3,610 | +10.3% |
| Equity | 10/15 | €2,101 | €2,101 | = | 0.0% |
| Contributions | 10/11 | €1,945 | €1,945 | = | 0.0% |
| Reserves | 13 | €155 | €155 | = | 0.0% |
| Distributable reserves | 133 | €155 | €155 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €33,020 | €36,630 | +€3,610 | +10.9% |
| Amounts payable within one year | 42/48 | €33,020 | €36,230 | +€3,210 | +9.7% |
| Trade debts | 44 | €3,939 | €3,849 | -€90 | -2.3% |
| Suppliers | 440/4 | €3,939 | €3,849 | -€90 | -2.3% |
| Taxes, remuneration and social security | 45 | €4,733 | €8,045 | +€3,312 | +70.0% |
| Taxes | 450/3 | €4,733 | €8,045 | +€3,312 | +70.0% |
| Other amounts payable | 47/48 | €24,348 | €24,336 | -€13 | -0.1% |
| Accrued charges and deferred income | 492/3 | - | €400 | +€400 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,351 | €12,103 | +€9,752 | +414.7% |
| Other operating charges | 640/8 | €592 | €736 | +€144 | +24.4% |
| Non-recurring operating charges | 66A | - | €324 | +€324 | |
| Gross operating margin | 9900 | €34,374 | €56,431 | +€22,056 | +64.2% |
| Operating profit (loss) | 9901 | €31,431 | €43,267 | +€11,836 | +37.7% |
| Financial income | 75/76B | €274 | €0 | -€274 | -100.0% |
| Recurring financial income | 75 | €274 | €0 | -€274 | -100.0% |
| Financial charges | 65/66B | €190 | €189 | -€1 | -0.3% |
| Recurring financial charges | 65 | €190 | €189 | -€1 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €31,516 | €43,078 | +€11,562 | +36.7% |
| Income taxes | 67/77 | €7,168 | €9,219 | +€2,051 | +28.6% |
| Profit (loss) for the period | 9904 | €24,348 | €33,859 | +€9,511 | +39.1% |
| Profit (loss) for the period to be appropriated | 9905 | €24,348 | €33,859 | +€9,511 | +39.1% |
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 4 October 2026 via checked.be.