LTL: 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.
LTL
Largest movements
- Cash -€38,848
down €38,848 (-35.4%), from €109,865 to €71,017
mainly Other debts (-€39,415) and Contributions, distributions and other (-€18,969)
- Receivables within one year +€13,673
up €13,673 (+58.0%), from €23,559 to €37,232
of which Trade receivables: +€10,161
- Deferred charges and accrued income -€12,829
down €12,829 (-25.6%), from €50,140 to €37,312
- Tangible fixed assets -€5,176
down €5,176 (-17.9%), from €28,839 to €23,663
of which Furniture and vehicles: -€5,700
- Other debts -€39,415
down €39,415 (-99.2%), from €39,733 to €318
- Tax, wage and social debts -€8,852
down €8,852 (-74.0%), from €11,957 to €3,105
- Accrued charges and deferred income +€4,961
new in 2025: €4,961
- Gross operating margin -€33,811
down €33,811 (-47.1%), from €71,806 to €37,995
- Taxes -€11,487
down €11,487 (-59.7%), from €19,226 to €7,740
- Depreciation -€4,703
down €4,703 (-42.4%), from €11,080 to €6,377
- Other operating charges +€3,842
up €3,842 (+283.5%), from €1,355 to €5,198
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 | €257,153 | €213,973 | -€43,179 | -16.8% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | €28,839 | €23,663 | -€5,176 | -17.9% |
| Tangible fixed assets | 22/27 | €28,839 | €23,663 | -€5,176 | -17.9% |
| Plant, machinery and equipment | 23 | €2,832 | €3,356 | +€524 | +18.5% |
| Furniture and vehicles | 24 | €26,007 | €20,307 | -€5,700 | -21.9% |
| Current assets | 29/58 | €228,314 | €190,310 | -€38,003 | -16.6% |
| Amounts receivable within one year | 40/41 | €23,559 | €37,232 | +€13,673 | +58.0% |
| Trade receivables | 40 | €21,750 | €31,911 | +€10,161 | +46.7% |
| Other amounts receivable | 41 | €1,808 | €5,321 | +€3,513 | +194.3% |
| Current investments | 50/53 | €44,750 | €44,750 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €109,865 | €71,017 | -€38,848 | -35.4% |
| Deferred charges and accrued income | 490/1 | €50,140 | €37,312 | -€12,829 | -25.6% |
| Total equity and liabilities | 10/49 | €257,153 | €213,973 | -€43,179 | -16.8% |
| Equity | 10/15 | €195,689 | €195,344 | -€345 | -0.2% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €194,689 | €194,344 | -€345 | -0.2% |
| Distributable reserves | 133 | €194,689 | €194,344 | -€345 | -0.2% |
| Amounts payable | 17/49 | €61,464 | €18,629 | -€42,834 | -69.7% |
| Amounts payable within one year | 42/48 | €61,464 | €13,668 | -€47,796 | -77.8% |
| Trade debts | 44 | €9,774 | €10,246 | +€472 | +4.8% |
| Suppliers | 440/4 | €9,774 | €10,246 | +€472 | +4.8% |
| Taxes, remuneration and social security | 45 | €11,957 | €3,105 | -€8,852 | -74.0% |
| Taxes | 450/3 | €11,957 | €3,105 | -€8,852 | -74.0% |
| Other amounts payable | 47/48 | €39,733 | €318 | -€39,415 | -99.2% |
| Accrued charges and deferred income | 492/3 | - | €4,961 | +€4,961 | |
| Non-recurring operating income | 76A | €953 | €7,022 | +€6,069 | +636.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,080 | €6,377 | -€4,703 | -42.4% |
| Other operating charges | 640/8 | €1,355 | €5,198 | +€3,842 | +283.5% |
| Gross operating margin | 9900 | €71,806 | €37,995 | -€33,811 | -47.1% |
| Operating profit (loss) | 9901 | €59,370 | €26,420 | -€32,951 | -55.5% |
| Financial income | 75/76B | €445 | €535 | +€90 | +20.1% |
| Recurring financial income | 75 | €445 | €535 | +€90 | +20.1% |
| Financial charges | 65/66B | €104 | €591 | +€488 | +471.4% |
| Recurring financial charges | 65 | €104 | €591 | +€488 | +471.4% |
| Profit (loss) for the period before taxes | 9903 | €59,712 | €26,363 | -€33,349 | -55.8% |
| Income taxes | 67/77 | €19,226 | €7,740 | -€11,487 | -59.7% |
| Profit (loss) for the period | 9904 | €40,486 | €18,624 | -€21,862 | -54.0% |
| Profit (loss) for the period to be appropriated | 9905 | €40,486 | €18,624 | -€21,862 | -54.0% |
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 9 October 2026 via checked.be.