LTFC: 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.
LTFC
Largest movements
- Cash +€12,644
up €12,644 (+3561.7%), from €355 to €12,999
mainly Trade debts (+€22,877) and Other debts (+€3,801)
- Receivables within one year +€12,020
up €12,020 (+316.3%), from €3,800 to €15,820
- Stocks and contracts +€4,820
up €4,820 (+92.4%), from €5,217 to €10,037
- Deferred charges and accrued income -€1,279
down €1,279 (-55.2%), from €2,315 to €1,036
- Tangible fixed assets -€948
down €948 (-32.7%), from €2,897 to €1,949
of which Plant, machinery and equipment: -€772
- Trade debts +€22,877
up €22,877 (+49.3%), from €46,431 to €69,308
- Other debts +€3,801
up €3,801 (+6.3%), from €59,859 to €63,660
- Profit (loss) carried forward +€791
up €791 (+0.8%), from -€102,728 to -€101,937
- Gross operating margin +€29,336
up €29,336 (+71.5%), from €41,032 to €70,368
- Staff costs -€6,925
down €6,925 (-9.3%), from €74,505 to €67,580
- Taxes +€750
new in 2025: €750
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 | €25,834 | €53,091 | +€27,257 | +105.5% |
| Fixed assets | 21/28 | €14,147 | €13,199 | -€948 | -6.7% |
| Tangible fixed assets | 22/27 | €2,897 | €1,949 | -€948 | -32.7% |
| Plant, machinery and equipment | 23 | €2,705 | €1,933 | -€772 | -28.5% |
| Furniture and vehicles | 24 | €134 | €16 | -€118 | -88.1% |
| Other tangible fixed assets | 26 | €58 | - | -€58 | |
| Financial fixed assets | 28 | €11,250 | €11,250 | = | 0.0% |
| Current assets | 29/58 | €11,687 | €39,892 | +€28,205 | +241.3% |
| Stocks and contracts in progress | 3 | €5,217 | €10,037 | +€4,820 | +92.4% |
| Stocks | 30/36 | €5,217 | €10,037 | +€4,820 | +92.4% |
| Amounts receivable within one year | 40/41 | €3,800 | €15,820 | +€12,020 | +316.3% |
| Trade receivables | 40 | €3,800 | €15,820 | +€12,020 | +316.3% |
| Cash at bank and in hand | 54/58 | €355 | €12,999 | +€12,644 | +3561.7% |
| Deferred charges and accrued income | 490/1 | €2,315 | €1,036 | -€1,279 | -55.2% |
| Total equity and liabilities | 10/49 | €25,834 | €53,091 | +€27,257 | +105.5% |
| Equity | 10/15 | -€94,728 | -€93,937 | +€791 | +0.8% |
| Contributions | 10/11 | €8,000 | €8,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€102,728 | -€101,937 | +€791 | +0.8% |
| Amounts payable | 17/49 | €120,562 | €147,028 | +€26,466 | +22.0% |
| Amounts payable within one year | 42/48 | €120,562 | €147,028 | +€26,466 | +22.0% |
| Trade debts | 44 | €46,431 | €69,308 | +€22,877 | +49.3% |
| Suppliers | 440/4 | €46,431 | €69,308 | +€22,877 | +49.3% |
| Taxes, remuneration and social security | 45 | €14,272 | €14,060 | -€212 | -1.5% |
| Taxes | 450/3 | €2,977 | €7,256 | +€4,279 | +143.7% |
| Remuneration and social security | 454/9 | €11,295 | €6,804 | -€4,491 | -39.8% |
| Other amounts payable | 47/48 | €59,859 | €63,660 | +€3,801 | +6.3% |
| Remuneration, social security and pensions | 62 | €74,505 | €67,580 | -€6,925 | -9.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,240 | €948 | -€292 | -23.5% |
| Other operating charges | 640/8 | €147 | €20 | -€127 | -86.4% |
| Gross operating margin | 9900 | €41,032 | €70,368 | +€29,336 | +71.5% |
| Operating profit (loss) | 9901 | -€34,860 | €1,820 | +€36,680 | |
| Financial income | 75/76B | €23 | - | -€23 | |
| Recurring financial income | 75 | €23 | - | -€23 | |
| Financial charges | 65/66B | €200 | €279 | +€79 | +39.5% |
| Recurring financial charges | 65 | €200 | €279 | +€79 | +39.5% |
| Profit (loss) for the period before taxes | 9903 | -€35,037 | €1,541 | +€36,578 | |
| Income taxes | 67/77 | - | €750 | +€750 | |
| Profit (loss) for the period | 9904 | -€35,037 | €791 | +€35,828 | |
| Profit (loss) for the period to be appropriated | 9905 | -€35,037 | €791 | +€35,828 |
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.