LSVBCON: 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.
LSVBCON
Largest movements
- Cash +€121,620
up €121,620 (+68.5%), from €177,421 to €299,042
mainly Trade debts (+€67,014) and Receivables within one year (+€35,636)
- Receivables within one year -€35,636
down €35,636 (-24.5%), from €145,376 to €109,740
of which Trade receivables: -€32,023
- Stocks and contracts +€17,789
up €17,789 (+4.9%), from €361,033 to €378,822
- Deferred charges and accrued income -€15,011
down €15,011 (-74.7%), from €20,083 to €5,072
- Trade debts +€67,014
up €67,014 (+105.2%), from €63,713 to €130,727
- Reserves +€25,324
up €25,324 (+11.4%), from €222,569 to €247,892
- Debts after one year -€18,920
down €18,920 (-13.3%), from €141,985 to €123,066
- Short-term financial debts +€12,510
up €12,510 (+5.2%), from €240,245 to €252,755
of which Credit institutions: +€223,489
- Gross operating margin -€33,837
down €33,837 (-13.7%), from €246,778 to €212,940
- Taxes -€12,301
down €12,301 (-62.4%), from €19,702 to €7,401
- Financial income -€2,832
down €2,832 (-17.4%), from €16,308 to €13,476
- Staff costs +€2,716
up €2,716 (+1.8%), from €153,721 to €156,437
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €797,089 | €880,906 | +€83,818 | +10.5% |
| Fixed assets | 21/28 | €43,176 | €38,232 | -€4,944 | -11.5% |
| Tangible fixed assets | 22/27 | €43,176 | €38,232 | -€4,944 | -11.5% |
| Land and buildings | 22 | €30,544 | €29,471 | -€1,074 | -3.5% |
| Plant, machinery and equipment | 23 | €2,001 | €1,579 | -€422 | -21.1% |
| Furniture and vehicles | 24 | €7,184 | €4,635 | -€2,549 | -35.5% |
| Other tangible fixed assets | 26 | €3,447 | €2,547 | -€900 | -26.1% |
| Current assets | 29/58 | €753,913 | €842,674 | +€88,762 | +11.8% |
| Amounts receivable after more than one year | 29 | €50,000 | €50,000 | = | 0.0% |
| Other amounts receivable | 291 | €50,000 | €50,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €361,033 | €378,822 | +€17,789 | +4.9% |
| Stocks | 30/36 | €361,033 | €378,822 | +€17,789 | +4.9% |
| Amounts receivable within one year | 40/41 | €145,376 | €109,740 | -€35,636 | -24.5% |
| Trade receivables | 40 | €32,023 | €0 | -€32,023 | -100.0% |
| Other amounts receivable | 41 | €113,353 | €109,740 | -€3,613 | -3.2% |
| Cash at bank and in hand | 54/58 | €177,421 | €299,042 | +€121,620 | +68.5% |
| Deferred charges and accrued income | 490/1 | €20,083 | €5,072 | -€15,011 | -74.7% |
| Total equity and liabilities | 10/49 | €797,089 | €880,906 | +€83,818 | +10.5% |
| Equity | 10/15 | €241,169 | €266,492 | +€25,324 | +10.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €222,569 | €247,892 | +€25,324 | +11.4% |
| Distributable reserves | 133 | €222,569 | €247,892 | +€25,324 | +11.4% |
| Amounts payable | 17/49 | €555,920 | €614,414 | +€58,494 | +10.5% |
| Amounts payable after more than one year | 17 | €141,985 | €123,066 | -€18,920 | -13.3% |
| Financial debts | 170/4 | €141,985 | €123,066 | -€18,920 | -13.3% |
| Amounts payable within one year | 42/48 | €413,934 | €491,348 | +€77,414 | +18.7% |
| Current portion of amounts payable after more than one year | 42 | €18,609 | €18,920 | +€311 | +1.7% |
| Financial debts | 43 | €240,245 | €252,755 | +€12,510 | +5.2% |
| Credit institutions | 430/8 | €29,266 | €252,755 | +€223,489 | +763.6% |
| Other loans | 439 | €210,979 | €0 | -€210,979 | -100.0% |
| Trade debts | 44 | €63,713 | €130,727 | +€67,014 | +105.2% |
| Suppliers | 440/4 | €63,713 | €130,727 | +€67,014 | +105.2% |
| Taxes, remuneration and social security | 45 | €91,367 | €88,946 | -€2,421 | -2.6% |
| Taxes | 450/3 | €61,785 | €58,970 | -€2,815 | -4.6% |
| Remuneration and social security | 454/9 | €29,582 | €29,977 | +€395 | +1.3% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €153,721 | €156,437 | +€2,716 | +1.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,719 | €9,419 | -€1,299 | -12.1% |
| Other operating charges | 640/8 | €5,014 | €6,308 | +€1,294 | +25.8% |
| Gross operating margin | 9900 | €246,778 | €212,940 | -€33,837 | -13.7% |
| Operating profit (loss) | 9901 | €77,324 | €40,776 | -€36,548 | -47.3% |
| Financial income | 75/76B | €16,308 | €13,476 | -€2,832 | -17.4% |
| Recurring financial income | 75 | €16,308 | €13,476 | -€2,832 | -17.4% |
| Financial charges | 65/66B | €20,134 | €21,528 | +€1,394 | +6.9% |
| Recurring financial charges | 65 | €20,134 | €21,528 | +€1,394 | +6.9% |
| Profit (loss) for the period before taxes | 9903 | €73,498 | €32,725 | -€40,774 | -55.5% |
| Income taxes | 67/77 | €19,702 | €7,401 | -€12,301 | -62.4% |
| Profit (loss) for the period | 9904 | €53,796 | €25,324 | -€28,472 | -52.9% |
| Profit (loss) for the period to be appropriated | 9905 | €53,796 | €25,324 | -€28,472 | -52.9% |
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.