LUBOR: 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.
LUBOR
Largest movements
- Tangible fixed assets -€27,363
down €27,363 (-24.4%), from €112,355 to €84,992
of which Furniture and vehicles: -€18,939
- Cash +€26,736
up €26,736 (+21.6%), from €123,826 to €150,563
mainly Net result for the year (+€57,787) and Depreciation (+€27,363)
- Receivables within one year -€13,849
down €13,849 (-21.1%), from €65,576 to €51,726
of which Other amounts receivable: -€8,576
- Reserves -€28,225
down €28,225 (-11.3%), from €249,358 to €221,133
- Other debts +€17,179
new in 2025: €17,179
- Debts after one year -€11,612
down €11,612 (-62.5%), from €18,579 to €6,967
- Tax, wage and social debts +€10,933
up €10,933 (+67.8%), from €16,125 to €27,058
- Trade debts -€4,649
down €4,649 (-82.3%), from €5,646 to €997
- Gross operating margin +€3,936
up €3,936 (+3.4%), from €115,873 to €119,810
- Other operating charges +€1,966
up €1,966 (+91.0%), from €2,161 to €4,127
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 | €310,223 | €294,252 | -€15,971 | -5.1% |
| Fixed assets | 21/28 | €112,355 | €84,992 | -€27,363 | -24.4% |
| Tangible fixed assets | 22/27 | €112,355 | €84,992 | -€27,363 | -24.4% |
| Land and buildings | 22 | €34,173 | €29,474 | -€4,699 | -13.8% |
| Plant, machinery and equipment | 23 | €303 | - | -€303 | |
| Furniture and vehicles | 24 | €65,186 | €46,247 | -€18,939 | -29.1% |
| Other tangible fixed assets | 26 | €12,693 | €9,271 | -€3,422 | -27.0% |
| Current assets | 29/58 | €197,868 | €209,260 | +€11,393 | +5.8% |
| Amounts receivable within one year | 40/41 | €65,576 | €51,726 | -€13,849 | -21.1% |
| Trade receivables | 40 | €57,000 | €51,726 | -€5,274 | -9.3% |
| Other amounts receivable | 41 | €8,576 | - | -€8,576 | |
| Current investments | 50/53 | €4,019 | €1,019 | -€3,000 | -74.7% |
| Cash at bank and in hand | 54/58 | €123,826 | €150,563 | +€26,736 | +21.6% |
| Deferred charges and accrued income | 490/1 | €4,447 | €5,953 | +€1,505 | +33.9% |
| Total equity and liabilities | 10/49 | €310,223 | €294,252 | -€15,971 | -5.1% |
| Equity | 10/15 | €258,665 | €230,439 | -€28,225 | -10.9% |
| Contributions | 10/11 | €6,208 | €6,208 | = | 0.0% |
| Reserves | 13 | €249,358 | €221,133 | -€28,225 | -11.3% |
| Distributable reserves | 133 | €249,358 | €221,133 | -€28,225 | -11.3% |
| Profit (loss) carried forward | 14 | €3,099 | €3,099 | = | 0.0% |
| Amounts payable | 17/49 | €51,558 | €63,813 | +€12,255 | +23.8% |
| Amounts payable after more than one year | 17 | €18,579 | €6,967 | -€11,612 | -62.5% |
| Financial debts | 170/4 | €18,579 | €6,967 | -€11,612 | -62.5% |
| Amounts payable within one year | 42/48 | €32,979 | €56,846 | +€23,867 | +72.4% |
| Current portion of amounts payable after more than one year | 42 | €11,208 | €11,612 | +€404 | +3.6% |
| Trade debts | 44 | €5,646 | €997 | -€4,649 | -82.3% |
| Suppliers | 440/4 | €5,646 | €997 | -€4,649 | -82.3% |
| Taxes, remuneration and social security | 45 | €16,125 | €27,058 | +€10,933 | +67.8% |
| Taxes | 450/3 | €16,125 | €27,058 | +€10,933 | +67.8% |
| Other amounts payable | 47/48 | - | €17,179 | +€17,179 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €28,038 | €27,363 | -€675 | -2.4% |
| Other operating charges | 640/8 | €2,161 | €4,127 | +€1,966 | +91.0% |
| Gross operating margin | 9900 | €115,873 | €119,810 | +€3,936 | +3.4% |
| Operating profit (loss) | 9901 | €85,674 | €88,319 | +€2,646 | +3.1% |
| Financial income | 75/76B | €1,474 | €984 | -€489 | -33.2% |
| Recurring financial income | 75 | €1,474 | €984 | -€489 | -33.2% |
| Financial charges | 65/66B | €1,605 | €1,113 | -€493 | -30.7% |
| Recurring financial charges | 65 | €1,605 | €1,113 | -€493 | -30.7% |
| Profit (loss) for the period before taxes | 9903 | €85,542 | €88,191 | +€2,649 | +3.1% |
| Income taxes | 67/77 | €29,567 | €30,405 | +€838 | +2.8% |
| Profit (loss) for the period | 9904 | €55,975 | €57,787 | +€1,812 | +3.2% |
| Profit (loss) for the period to be appropriated | 9905 | €55,975 | €57,787 | +€1,812 | +3.2% |
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 6 October 2026 via checked.be.