LTS MANAGEMENT: 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.
LTS MANAGEMENT
Largest movements
- Stocks and contracts +€75,000
up €75,000 (+29.8%), from €251,658 to €326,658
- Receivables within one year -€25,754
down €25,754 (-92.0%), from €27,999 to €2,245
of which Other amounts receivable: -€19,183
- Cash +€6,499
up €6,499 (+481%), from €1,351 to €7,851
mainly Other debts (+€75,000) and Receivables within one year (+€25,754)
- Other debts +€75,000
up €75,000 (+2,968%), from €2,527 to €77,527
- Profit (loss) carried forward -€17,545
down €17,545, from €4,446 to -€13,099
- Financial charges +€19,258
up €19,258 (+4,238%), from €454 to €19,713
- Gross operating margin -€2,002
down €2,002 (-44.6%), from €4,487 to €2,485
- Other operating charges -€63
down €63 (-16.7%), from €381 to €317
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.
Derived cash bridge
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 | €281,008 | €336,754 | +€55,746 | +19.8% |
| Current assets | 29/58 | €281,008 | €336,754 | +€55,746 | +19.8% |
| Stocks and contracts in progress | 3 | €251,658 | €326,658 | +€75,000 | +29.8% |
| Stocks | 30/36 | €251,658 | €326,658 | +€75,000 | +29.8% |
| Amounts receivable within one year | 40/41 | €27,999 | €2,245 | -€25,754 | -92.0% |
| Trade receivables | 40 | €8,724 | €2,154 | -€6,570 | -75.3% |
| Other amounts receivable | 41 | €19,275 | €91 | -€19,183 | -99.5% |
| Cash at bank and in hand | 54/58 | €1,351 | €7,851 | +€6,499 | +481% |
| Total equity and liabilities | 10/49 | €281,008 | €336,754 | +€55,746 | +19.8% |
| Equity | 10/15 | €274,906 | €257,361 | -€17,545 | -6.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €251,860 | €251,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €250,000 | €250,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,446 | -€13,099 | -€17,545 | |
| Amounts payable | 17/49 | €6,102 | €79,393 | +€73,291 | +1,201% |
| Amounts payable within one year | 42/48 | €6,102 | €79,393 | +€73,291 | +1,201% |
| Trade debts | 44 | €2,121 | €1,461 | -€659 | -31.1% |
| Suppliers | 440/4 | €2,121 | €1,461 | -€659 | -31.1% |
| Taxes, remuneration and social security | 45 | €1,455 | €405 | -€1,050 | -72.2% |
| Taxes | 450/3 | €1,455 | €405 | -€1,050 | -72.2% |
| Other amounts payable | 47/48 | €2,527 | €77,527 | +€75,000 | +2,968% |
| Other operating charges | 640/8 | €381 | €317 | -€63 | -16.7% |
| Gross operating margin | 9900 | €4,487 | €2,485 | -€2,002 | -44.6% |
| Operating profit (loss) | 9901 | €4,106 | €2,168 | -€1,938 | -47.2% |
| Financial income | 75/76B | €0 | €0 | -€0 | -60.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -60.0% |
| Financial charges | 65/66B | €454 | €19,713 | +€19,258 | +4,238% |
| Recurring financial charges | 65 | €454 | €19,713 | +€19,258 | +4,238% |
| Profit (loss) for the period before taxes | 9903 | €3,652 | -€17,545 | -€21,197 | |
| Profit (loss) for the period | 9904 | €3,652 | -€17,545 | -€21,197 | |
| Profit (loss) for the period to be appropriated | 9905 | €3,652 | -€17,545 | -€21,197 |
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 15 October 2026 via checked.be.