LTL: 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.
LTL
Largest movements
- Receivables within one year +€35,506
up €35,506, from €0 to €35,506
- Tangible fixed assets +€21,869
up €21,869 (+94.4%), from €23,168 to €45,037
- Cash -€13,050
down €13,050 (-40.3%), from €32,382 to €19,332
mainly Investment in fixed assets (net) (-€35,946) and Receivables within one year (-€35,506)
- Deferred charges and accrued income -€1,262
down €1,262 (-87.4%), from €1,445 to €183
- Debts after one year +€30,779
new in 2025: €30,779
- Current portion of long-term debt +€8,977
new in 2025: €8,977
- Reserves +€6,290
up €6,290 (+19.6%), from €32,047 to €38,337
- Other debts -€5,261
down €5,261 (-100.0%), from €5,263 to €2
- Tax, wage and social debts +€2,649
up €2,649 (+19.5%), from €13,608 to €16,258
of which Taxes: +€2,649
- Gross operating margin -€9,163
down €9,163 (-26.9%), from €34,082 to €24,920
- Taxes -€3,243
down €3,243 (-64.9%), from €4,994 to €1,751
- Depreciation +€3,148
up €3,148 (+28.8%), from €10,929 to €14,077
- Financial charges +€1,470
up €1,470 (+2163.5%), from €68 to €1,538
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 | €56,995 | €100,058 | +€43,063 | +75.6% |
| Fixed assets | 21/28 | €23,168 | €45,037 | +€21,869 | +94.4% |
| Tangible fixed assets | 22/27 | €23,168 | €45,037 | +€21,869 | +94.4% |
| Furniture and vehicles | 24 | €23,168 | €45,037 | +€21,869 | +94.4% |
| Current assets | 29/58 | €33,827 | €55,021 | +€21,194 | +62.7% |
| Amounts receivable within one year | 40/41 | €0 | €35,506 | +€35,506 | |
| Trade receivables | 40 | €0 | €35,506 | +€35,506 | |
| Cash at bank and in hand | 54/58 | €32,382 | €19,332 | -€13,050 | -40.3% |
| Deferred charges and accrued income | 490/1 | €1,445 | €183 | -€1,262 | -87.4% |
| Total equity and liabilities | 10/49 | €56,995 | €100,058 | +€43,063 | +75.6% |
| Equity | 10/15 | €37,047 | €43,337 | +€6,290 | +17.0% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €32,047 | €38,337 | +€6,290 | +19.6% |
| Distributable reserves | 133 | €32,047 | €38,337 | +€6,290 | +19.6% |
| Amounts payable | 17/49 | €19,948 | €56,721 | +€36,773 | +184.3% |
| Amounts payable after more than one year | 17 | - | €30,779 | +€30,779 | |
| Financial debts | 170/4 | - | €30,779 | +€30,779 | |
| Amounts payable within one year | 42/48 | €19,514 | €25,942 | +€6,428 | +32.9% |
| Current portion of amounts payable after more than one year | 42 | - | €8,977 | +€8,977 | |
| Trade debts | 44 | €643 | €706 | +€63 | +9.8% |
| Suppliers | 440/4 | €643 | €706 | +€63 | +9.8% |
| Taxes, remuneration and social security | 45 | €13,608 | €16,258 | +€2,649 | +19.5% |
| Taxes | 450/3 | €13,608 | €16,258 | +€2,649 | +19.5% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €5,263 | €2 | -€5,261 | -100.0% |
| Accrued charges and deferred income | 492/3 | €434 | €0 | -€434 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,929 | €14,077 | +€3,148 | +28.8% |
| Other operating charges | 640/8 | €1,123 | €1,264 | +€141 | +12.5% |
| Gross operating margin | 9900 | €34,082 | €24,920 | -€9,163 | -26.9% |
| Operating profit (loss) | 9901 | €22,030 | €9,579 | -€12,451 | -56.5% |
| Financial charges | 65/66B | €68 | €1,538 | +€1,470 | +2163.5% |
| Recurring financial charges | 65 | €68 | €1,538 | +€1,470 | +2163.5% |
| Profit (loss) for the period before taxes | 9903 | €21,962 | €8,041 | -€13,921 | -63.4% |
| Income taxes | 67/77 | €4,994 | €1,751 | -€3,243 | -64.9% |
| Profit (loss) for the period | 9904 | €16,968 | €6,290 | -€10,678 | -62.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,968 | €6,290 | -€10,678 | -62.9% |
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 8 October 2026 via checked.be.