LUNG SENG: 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.
LUNG SENG
Largest movements
- Cash -€12,119
down €12,119 (-25.1%), from €48,320 to €36,202
mainly Trade debts (-€17,861) and Debts after one year (-€13,074)
- Receivables within one year -€8,209
down €8,209 (-24.4%), from €33,675 to €25,466
of which Trade receivables: -€13,931
- Tangible fixed assets -€5,840
down €5,840 (-10.3%), from €56,781 to €50,941
of which Furniture and vehicles: -€12,846
- Deferred charges and accrued income -€2,577
down €2,577 (-99.1%), from €2,601 to €23
- Trade debts -€17,861
down €17,861 (-93.2%), from €19,167 to €1,307
- Debts after one year -€13,074
down €13,074 (-74.4%), from €17,576 to €4,501
- Profit (loss) carried forward +€1,623
up €1,623 (+19.8%), from €8,214 to €9,837
- Gross operating margin -€17,036
down €17,036 (-41.8%), from €40,803 to €23,768
- Taxes -€4,268
down €4,268 (-66.0%), from €6,467 to €2,199
- Financial charges +€1,283
up €1,283 (+81.5%), from €1,575 to €2,858
- Depreciation +€625
up €625 (+4.1%), from €15,357 to €15,981
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 | €153,130 | €123,160 | -€29,970 | -19.6% |
| Fixed assets | 21/28 | €56,806 | €50,966 | -€5,840 | -10.3% |
| Tangible fixed assets | 22/27 | €56,781 | €50,941 | -€5,840 | -10.3% |
| Land and buildings | 22 | - | €5,340 | +€5,340 | |
| Plant, machinery and equipment | 23 | €1,079 | €2,744 | +€1,666 | +154.4% |
| Furniture and vehicles | 24 | €55,702 | €42,857 | -€12,846 | -23.1% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €96,324 | €72,195 | -€24,130 | -25.1% |
| Stocks and contracts in progress | 3 | €11,728 | €10,503 | -€1,225 | -10.4% |
| Stocks | 30/36 | €11,728 | €10,503 | -€1,225 | -10.4% |
| Amounts receivable within one year | 40/41 | €33,675 | €25,466 | -€8,209 | -24.4% |
| Trade receivables | 40 | €17,022 | €3,091 | -€13,931 | -81.8% |
| Other amounts receivable | 41 | €16,653 | €22,375 | +€5,722 | +34.4% |
| Cash at bank and in hand | 54/58 | €48,320 | €36,202 | -€12,119 | -25.1% |
| Deferred charges and accrued income | 490/1 | €2,601 | €23 | -€2,577 | -99.1% |
| Total equity and liabilities | 10/49 | €153,130 | €123,160 | -€29,970 | -19.6% |
| Equity | 10/15 | €102,076 | €103,699 | +€1,623 | +1.6% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €75,270 | €75,270 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,000 | €1,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,000 | €1,000 | = | 0.0% |
| Distributable reserves | 133 | €74,270 | €74,270 | = | 0.0% |
| Profit (loss) carried forward | 14 | €8,214 | €9,837 | +€1,623 | +19.8% |
| Amounts payable | 17/49 | €51,055 | €19,461 | -€31,593 | -61.9% |
| Amounts payable after more than one year | 17 | €17,576 | €4,501 | -€13,074 | -74.4% |
| Financial debts | 170/4 | €17,576 | €4,501 | -€13,074 | -74.4% |
| Amounts payable within one year | 42/48 | €33,084 | €14,960 | -€18,124 | -54.8% |
| Current portion of amounts payable after more than one year | 42 | €12,453 | €13,642 | +€1,189 | +9.5% |
| Trade debts | 44 | €19,167 | €1,307 | -€17,861 | -93.2% |
| Suppliers | 440/4 | €19,167 | €1,307 | -€17,861 | -93.2% |
| Taxes, remuneration and social security | 45 | €1,463 | €11 | -€1,452 | -99.2% |
| Taxes | 450/3 | €1,463 | - | -€1,463 | |
| Remuneration and social security | 454/9 | - | €11 | +€11 | |
| Accrued charges and deferred income | 492/3 | €395 | - | -€395 | |
| Non-recurring operating income | 76A | €14,485 | - | -€14,485 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,357 | €15,981 | +€625 | +4.1% |
| Other operating charges | 640/8 | €1,227 | €1,127 | -€99 | -8.1% |
| Gross operating margin | 9900 | €40,803 | €23,768 | -€17,036 | -41.8% |
| Operating profit (loss) | 9901 | €24,220 | €6,659 | -€17,561 | -72.5% |
| Financial income | 75/76B | €15 | €21 | +€6 | +36.9% |
| Recurring financial income | 75 | €15 | €21 | +€6 | +36.9% |
| Financial charges | 65/66B | €1,575 | €2,858 | +€1,283 | +81.5% |
| Recurring financial charges | 65 | €1,575 | €2,858 | +€1,283 | +81.5% |
| Profit (loss) for the period before taxes | 9903 | €22,661 | €3,822 | -€18,838 | -83.1% |
| Income taxes | 67/77 | €6,467 | €2,199 | -€4,268 | -66.0% |
| Profit (loss) for the period | 9904 | €16,194 | €1,623 | -€14,571 | -90.0% |
| Profit (loss) for the period to be appropriated | 9905 | €16,194 | €1,623 | -€14,571 | -90.0% |
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 7 October 2026 via checked.be.