LTK: 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.
LTK
Largest movements
- Financial fixed assets +€750,000
new in 2025: €750,000
- Cash -€42,840
down €42,840 (-74.1%), from €57,779 to €14,939
mainly Investment in fixed assets (net) (-€752,512) and Receivables within one year (-€28,970)
- Receivables within one year +€28,970
up €28,970 (+28.1%), from €103,230 to €132,199
of which Trade receivables: +€35,067
- Tangible fixed assets -€25,636
down €25,636 (-31.3%), from €81,994 to €56,358
of which Furniture and vehicles: -€21,513
- Stocks and contracts +€23,604
up €23,604 (+110.9%), from €21,290 to €44,893
- Debts after one year +€569,850
up €569,850 (+1426.5%), from €39,947 to €609,796
- Current portion of long-term debt +€55,927
up €55,927 (+242.3%), from €23,086 to €79,012
- Reserves +€52,551
up €52,551 (+50.3%), from €104,411 to €156,962
- Other debts +€32,573
up €32,573 (+163.3%), from €19,947 to €52,520
- Tax, wage and social debts +€24,320
up €24,320 (+118.1%), from €20,593 to €44,913
- Gross operating margin +€23,710
up €23,710 (+25.6%), from €92,659 to €116,368
- Other operating charges -€10,505
down €10,505 (-97.2%), from €10,809 to €304
- Taxes +€3,757
up €3,757 (+15.0%), from €25,049 to €28,806
- Financial charges +€2,671
up €2,671 (+61.7%), from €4,332 to €7,003
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 | €265,076 | €999,961 | +€734,886 | +277.2% |
| Fixed assets | 21/28 | €81,994 | €806,358 | +€724,364 | +883.4% |
| Tangible fixed assets | 22/27 | €81,994 | €56,358 | -€25,636 | -31.3% |
| Plant, machinery and equipment | 23 | €5,947 | €3,563 | -€2,384 | -40.1% |
| Furniture and vehicles | 24 | €64,943 | €43,430 | -€21,513 | -33.1% |
| Other tangible fixed assets | 26 | €11,103 | €9,364 | -€1,739 | -15.7% |
| Financial fixed assets | 28 | - | €750,000 | +€750,000 | |
| Current assets | 29/58 | €183,082 | €193,604 | +€10,522 | +5.7% |
| Stocks and contracts in progress | 3 | €21,290 | €44,893 | +€23,604 | +110.9% |
| Stocks | 30/36 | €21,290 | €44,893 | +€23,604 | +110.9% |
| Amounts receivable within one year | 40/41 | €103,230 | €132,199 | +€28,970 | +28.1% |
| Trade receivables | 40 | €97,133 | €132,199 | +€35,067 | +36.1% |
| Other amounts receivable | 41 | €6,097 | - | -€6,097 | |
| Cash at bank and in hand | 54/58 | €57,779 | €14,939 | -€42,840 | -74.1% |
| Deferred charges and accrued income | 490/1 | €783 | €1,572 | +€789 | +100.7% |
| Total equity and liabilities | 10/49 | €265,076 | €999,961 | +€734,886 | +277.2% |
| Equity | 10/15 | €124,411 | €176,962 | +€52,551 | +42.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €104,411 | €156,962 | +€52,551 | +50.3% |
| Distributable reserves | 133 | €104,411 | €156,962 | +€52,551 | +50.3% |
| Amounts payable | 17/49 | €140,665 | €822,999 | +€682,335 | +485.1% |
| Amounts payable after more than one year | 17 | €39,947 | €609,796 | +€569,850 | +1426.5% |
| Financial debts | 170/4 | €39,947 | €609,796 | +€569,850 | +1426.5% |
| Amounts payable within one year | 42/48 | €86,399 | €212,470 | +€126,071 | +145.9% |
| Current portion of amounts payable after more than one year | 42 | €23,086 | €79,012 | +€55,927 | +242.3% |
| Trade debts | 44 | €22,774 | €36,025 | +€13,251 | +58.2% |
| Suppliers | 440/4 | €22,774 | €36,025 | +€13,251 | +58.2% |
| Taxes, remuneration and social security | 45 | €20,593 | €44,913 | +€24,320 | +118.1% |
| Taxes | 450/3 | €20,593 | €44,913 | +€24,320 | +118.1% |
| Other amounts payable | 47/48 | €19,947 | €52,520 | +€32,573 | +163.3% |
| Accrued charges and deferred income | 492/3 | €14,319 | €733 | -€13,586 | -94.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,002 | €28,148 | -€854 | -2.9% |
| Other operating charges | 640/8 | €10,809 | €304 | -€10,505 | -97.2% |
| Gross operating margin | 9900 | €92,659 | €116,368 | +€23,710 | +25.6% |
| Operating profit (loss) | 9901 | €52,847 | €87,916 | +€35,069 | +66.4% |
| Financial income | 75/76B | - | €443 | +€443 | |
| Recurring financial income | 75 | - | €443 | +€443 | |
| Financial charges | 65/66B | €4,332 | €7,003 | +€2,671 | +61.7% |
| Recurring financial charges | 65 | €4,332 | €7,003 | +€2,671 | +61.7% |
| Profit (loss) for the period before taxes | 9903 | €48,515 | €81,356 | +€32,841 | +67.7% |
| Income taxes | 67/77 | €25,049 | €28,806 | +€3,757 | +15.0% |
| Profit (loss) for the period | 9904 | €23,467 | €52,551 | +€29,084 | +123.9% |
| Profit (loss) for the period to be appropriated | 9905 | €23,467 | €52,551 | +€29,084 | +123.9% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.