LSTM: 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.
LSTM
Largest movements
- Tangible fixed assets -€29,958
down €29,958 (-5.7%), from €526,994 to €497,036
of which Land and buildings: -€24,975
- Receivables within one year +€13,299
up €13,299 (+46.6%), from €28,523 to €41,822
of which Other amounts receivable: +€7,742
- Cash -€9,583
down €9,583 (-73.1%), from €13,118 to €3,535
mainly Debts after one year (-€52,952) and Receivables within one year (-€13,299)
- Debts after one year -€52,952
down €52,952 (-10.7%), from €493,369 to €440,417
- Other debts +€15,355
up €15,355 (+43.0%), from €35,701 to €51,056
- Profit (loss) carried forward +€12,692
up €12,692 (+503.2%), from €2,522 to €15,214
- Gross operating margin +€13,905
up €13,905 (+26.5%), from €52,490 to €66,395
- Taxes +€4,186
up €4,186 (+963.5%), from €434 to €4,620
- Financial charges -€1,242
down €1,242 (-8.7%), from €14,259 to €13,017
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 | €595,053 | €569,258 | -€25,795 | -4.3% |
| Fixed assets | 21/28 | €526,994 | €497,036 | -€29,958 | -5.7% |
| Tangible fixed assets | 22/27 | €526,994 | €497,036 | -€29,958 | -5.7% |
| Land and buildings | 22 | €491,513 | €466,538 | -€24,975 | -5.1% |
| Furniture and vehicles | 24 | €185 | - | -€185 | |
| Other tangible fixed assets | 26 | €35,296 | €30,498 | -€4,798 | -13.6% |
| Current assets | 29/58 | €68,059 | €72,223 | +€4,163 | +6.1% |
| Amounts receivable after more than one year | 29 | €25,000 | €25,000 | = | 0.0% |
| Other amounts receivable | 291 | €25,000 | €25,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €28,523 | €41,822 | +€13,299 | +46.6% |
| Trade receivables | 40 | €9,376 | €14,932 | +€5,557 | +59.3% |
| Other amounts receivable | 41 | €19,147 | €26,889 | +€7,742 | +40.4% |
| Cash at bank and in hand | 54/58 | €13,118 | €3,535 | -€9,583 | -73.1% |
| Deferred charges and accrued income | 490/1 | €1,418 | €1,866 | +€448 | +31.6% |
| Total equity and liabilities | 10/49 | €595,053 | €569,258 | -€25,795 | -4.3% |
| Equity | 10/15 | €7,522 | €20,214 | +€12,692 | +168.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €2,522 | €15,214 | +€12,692 | +503.2% |
| Amounts payable | 17/49 | €587,531 | €549,045 | -€38,486 | -6.6% |
| Amounts payable after more than one year | 17 | €493,369 | €440,417 | -€52,952 | -10.7% |
| Financial debts | 170/4 | €493,369 | €440,417 | -€52,952 | -10.7% |
| Amounts payable within one year | 42/48 | €89,255 | €108,628 | +€19,373 | +21.7% |
| Current portion of amounts payable after more than one year | 42 | €51,654 | €52,952 | +€1,298 | +2.5% |
| Trade debts | 44 | €1,465 | - | -€1,465 | |
| Suppliers | 440/4 | €1,465 | - | -€1,465 | |
| Taxes, remuneration and social security | 45 | €434 | €4,620 | +€4,186 | +963.5% |
| Taxes | 450/3 | €434 | €4,620 | +€4,186 | +963.5% |
| Other amounts payable | 47/48 | €35,701 | €51,056 | +€15,355 | +43.0% |
| Accrued charges and deferred income | 492/3 | €4,907 | - | -€4,907 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,226 | €29,958 | -€268 | -0.9% |
| Other operating charges | 640/8 | €8,001 | €8,248 | +€247 | +3.1% |
| Gross operating margin | 9900 | €52,490 | €66,395 | +€13,905 | +26.5% |
| Operating profit (loss) | 9901 | €14,263 | €28,189 | +€13,927 | +97.6% |
| Financial income | 75/76B | €2,128 | €2,139 | +€11 | +0.5% |
| Recurring financial income | 75 | €2,128 | €2,139 | +€11 | +0.5% |
| Financial charges | 65/66B | €14,259 | €13,017 | -€1,242 | -8.7% |
| Recurring financial charges | 65 | €14,259 | €13,017 | -€1,242 | -8.7% |
| Profit (loss) for the period before taxes | 9903 | €2,132 | €17,312 | +€15,180 | +712.1% |
| Income taxes | 67/77 | €434 | €4,620 | +€4,186 | +963.5% |
| Profit (loss) for the period | 9904 | €1,697 | €12,692 | +€10,994 | +647.7% |
| Profit (loss) for the period to be appropriated | 9905 | €1,697 | €12,692 | +€10,994 | +647.7% |
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 9 October 2026 via checked.be.