LT: what changed
Two financial 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.
LT
Largest movements
- Tangible fixed assets +€65,078
up €65,078 (+45.5%), from €143,157 to €208,235
of which Other tangible fixed assets: +€47,459
- Receivables within one year -€54,004
down €54,004 (-57.2%), from €94,477 to €40,473
of which Other amounts receivable: -€51,680
- Cash -€22,405
down €22,405 (-36.6%), from €61,183 to €38,779
mainly Investment in fixed assets (net) (-€91,281) and Trade debts (-€77,313)
- Trade debts -€77,313
down €77,313 (-65.7%), from €117,687 to €40,375
- Other debts +€35,705
up €35,705 (+179%), from €20,000 to €55,705
- Tax, wage and social debts +€17,196
up €17,196 (+53.0%), from €32,430 to €49,626
of which Taxes: +€18,528
- Reserves +€16,297
up €16,297 (+18.8%), from €86,740 to €103,037
- Debts after one year -€4,621
down €4,621 (-10.6%), from €43,759 to €39,138
- Gross operating margin -€45,939
down €45,939 (-39.6%), from €116,103 to €70,163
- Depreciation +€19,420
up €19,420 (+215%), from €9,033 to €28,453
- Staff costs -€16,169
down €16,169 (-76.6%), from €21,111 to €4,942
- Taxes -€8,034
down €8,034 (-33.9%), from €23,728 to €15,694
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.
Derived cash bridge
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 | €310,883 | €298,327 | -€12,556 | -4.0% |
| Fixed assets | 21/28 | €146,708 | €209,536 | +€62,828 | +42.8% |
| Intangible fixed assets | 21 | €3,551 | €551 | -€3,000 | -84.5% |
| Tangible fixed assets | 22/27 | €143,157 | €208,235 | +€65,078 | +45.5% |
| Plant, machinery and equipment | 23 | €6,280 | €24,167 | +€17,887 | +285% |
| Furniture and vehicles | 24 | €1,317 | €1,049 | -€268 | -20.3% |
| Other tangible fixed assets | 26 | €135,561 | €183,020 | +€47,459 | +35.0% |
| Financial fixed assets | 28 | - | €750 | +€750 | |
| Current assets | 29/58 | €164,175 | €88,791 | -€75,385 | -45.9% |
| Stocks and contracts in progress | 3 | €7,925 | €9,250 | +€1,325 | +16.7% |
| Stocks | 30/36 | €7,925 | €9,250 | +€1,325 | +16.7% |
| Amounts receivable within one year | 40/41 | €94,477 | €40,473 | -€54,004 | -57.2% |
| Trade receivables | 40 | €42,766 | €40,442 | -€2,324 | -5.4% |
| Other amounts receivable | 41 | €51,711 | €31 | -€51,680 | -99.9% |
| Cash at bank and in hand | 54/58 | €61,183 | €38,779 | -€22,405 | -36.6% |
| Deferred charges and accrued income | 490/1 | €590 | €289 | -€301 | -51.0% |
| Total equity and liabilities | 10/49 | €310,883 | €298,327 | -€12,556 | -4.0% |
| Equity | 10/15 | €92,940 | €109,237 | +€16,297 | +17.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €86,740 | €103,037 | +€16,297 | +18.8% |
| Distributable reserves | 133 | €86,740 | €103,037 | +€16,297 | +18.8% |
| Amounts payable | 17/49 | €217,943 | €189,089 | -€28,854 | -13.2% |
| Amounts payable after more than one year | 17 | €43,759 | €39,138 | -€4,621 | -10.6% |
| Financial debts | 170/4 | €43,759 | €39,138 | -€4,621 | -10.6% |
| Amounts payable within one year | 42/48 | €174,184 | €149,951 | -€24,233 | -13.9% |
| Current portion of amounts payable after more than one year | 42 | €4,067 | €4,246 | +€178 | +4.4% |
| Trade debts | 44 | €117,687 | €40,375 | -€77,313 | -65.7% |
| Suppliers | 440/4 | €117,687 | €40,375 | -€77,313 | -65.7% |
| Taxes, remuneration and social security | 45 | €32,430 | €49,626 | +€17,196 | +53.0% |
| Taxes | 450/3 | €31,097 | €49,626 | +€18,528 | +59.6% |
| Remuneration and social security | 454/9 | €1,332 | - | -€1,332 | |
| Other amounts payable | 47/48 | €20,000 | €55,705 | +€35,705 | +179% |
| Remuneration, social security and pensions | 62 | €21,111 | €4,942 | -€16,169 | -76.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,033 | €28,453 | +€19,420 | +215% |
| Other operating charges | 640/8 | €2,318 | €3,180 | +€862 | +37.2% |
| Gross operating margin | 9900 | €116,103 | €70,163 | -€45,939 | -39.6% |
| Operating profit (loss) | 9901 | €83,640 | €33,588 | -€50,052 | -59.8% |
| Financial income | 75/76B | - | €88 | +€88 | |
| Recurring financial income | 75 | - | €88 | +€88 | |
| Financial charges | 65/66B | €1,771 | €1,684 | -€87 | -4.9% |
| Recurring financial charges | 65 | €1,771 | €1,684 | -€87 | -4.9% |
| Profit (loss) for the period before taxes | 9903 | €81,869 | €31,991 | -€49,878 | -60.9% |
| Income taxes | 67/77 | €23,728 | €15,694 | -€8,034 | -33.9% |
| Profit (loss) for the period | 9904 | €58,141 | €16,297 | -€41,844 | -72.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,141 | €16,297 | -€41,844 | -72.0% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.