LTC: 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.
LTC
Largest movements
- Cash +€36,550
up €36,550 (+227.0%), from €16,105 to €52,655
mainly Receivables within one year (+€34,658) and Net result for the year (+€13,184)
- Receivables within one year -€34,658
down €34,658 (-68.1%), from €50,899 to €16,241
of which Trade receivables: -€36,517
- Deferred charges and accrued income +€10,875
up €10,875 (+514.1%), from €2,115 to €12,991
- Tangible fixed assets -€1,980
down €1,980 (-2.5%), from €77,871 to €75,891
of which Land and buildings: -€3,733
- Reserves +€13,184
up €13,184 (+14.4%), from €91,871 to €105,054
of which Distributable reserves: +€15,043
- Tax, wage and social debts -€1,635
down €1,635 (-17.2%), from €9,507 to €7,871
- Gross operating margin -€14,912
down €14,912 (-31.1%), from €47,903 to €32,991
- Taxes -€4,717
down €4,717 (-42.6%), from €11,077 to €6,360
- Other operating charges +€828
up €828 (+26.5%), from €3,127 to €3,955
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 | €147,190 | €157,978 | +€10,788 | +7.3% |
| Fixed assets | 21/28 | €78,071 | €76,091 | -€1,980 | -2.5% |
| Tangible fixed assets | 22/27 | €77,871 | €75,891 | -€1,980 | -2.5% |
| Land and buildings | 22 | €69,146 | €65,413 | -€3,733 | -5.4% |
| Plant, machinery and equipment | 23 | €7,141 | €6,006 | -€1,135 | -15.9% |
| Furniture and vehicles | 24 | €1,584 | €4,473 | +€2,889 | +182.3% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €69,119 | €81,887 | +€12,768 | +18.5% |
| Amounts receivable within one year | 40/41 | €50,899 | €16,241 | -€34,658 | -68.1% |
| Trade receivables | 40 | €50,899 | €14,382 | -€36,517 | -71.7% |
| Other amounts receivable | 41 | - | €1,859 | +€1,859 | |
| Cash at bank and in hand | 54/58 | €16,105 | €52,655 | +€36,550 | +227.0% |
| Deferred charges and accrued income | 490/1 | €2,115 | €12,991 | +€10,875 | +514.1% |
| Total equity and liabilities | 10/49 | €147,190 | €157,978 | +€10,788 | +7.3% |
| Equity | 10/15 | €136,204 | €149,388 | +€13,184 | +9.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €91,871 | €105,054 | +€13,184 | +14.4% |
| Non-distributable reserves | 130/1 | €1,859 | - | -€1,859 | |
| Reserves not available under the articles | 1311 | €1,859 | - | -€1,859 | |
| Distributable reserves | 133 | €90,011 | €105,054 | +€15,043 | +16.7% |
| Profit (loss) carried forward | 14 | €25,742 | €25,742 | = | 0.0% |
| Amounts payable | 17/49 | €10,986 | €8,590 | -€2,396 | -21.8% |
| Amounts payable within one year | 42/48 | €10,986 | €8,590 | -€2,396 | -21.8% |
| Trade debts | 44 | €229 | €719 | +€490 | +214.2% |
| Suppliers | 440/4 | €229 | €719 | +€490 | +214.2% |
| Taxes, remuneration and social security | 45 | €9,507 | €7,871 | -€1,635 | -17.2% |
| Taxes | 450/3 | €9,507 | €7,871 | -€1,635 | -17.2% |
| Other amounts payable | 47/48 | €1,250 | - | -€1,250 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,913 | €9,353 | +€440 | +4.9% |
| Other operating charges | 640/8 | €3,127 | €3,955 | +€828 | +26.5% |
| Gross operating margin | 9900 | €47,903 | €32,991 | -€14,912 | -31.1% |
| Operating profit (loss) | 9901 | €35,863 | €19,683 | -€16,180 | -45.1% |
| Financial income | 75/76B | €0 | €26 | +€26 | +87033.3% |
| Recurring financial income | 75 | €0 | €26 | +€26 | +87033.3% |
| Financial charges | 65/66B | €489 | €165 | -€324 | -66.3% |
| Recurring financial charges | 65 | €489 | €165 | -€324 | -66.3% |
| Profit (loss) for the period before taxes | 9903 | €35,374 | €19,544 | -€15,830 | -44.8% |
| Income taxes | 67/77 | €11,077 | €6,360 | -€4,717 | -42.6% |
| Profit (loss) for the period | 9904 | €24,296 | €13,184 | -€11,112 | -45.7% |
| Profit (loss) for the period to be appropriated | 9905 | €24,296 | €13,184 | -€11,112 | -45.7% |
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 2 October 2026 via checked.be.