LW BELGIUM: 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.
LW BELGIUM
Largest movements
- Cash +€7,580
up €7,580 (+22.3%), from €33,984 to €41,564
mainly Net result for the year (+€28,515) and Other debts (+€21,316)
- Receivables within one year -€7,411
down €7,411 (-17.1%), from €43,449 to €36,038
of which Other amounts receivable: -€8,608
- Tangible fixed assets +€2,817
up €2,817 (+25.9%), from €10,856 to €13,673
of which Furniture and vehicles: +€5,577
- Deferred charges and accrued income -€1,336
no longer reported in 2026 (was €1,336)
- Other debts +€21,316
up €21,316 (+309%), from €6,908 to €28,223
- Profit (loss) carried forward -€17,634
down €17,634 (-38.2%), from €46,149 to €28,515
- Current portion of long-term debt -€1,552
down €1,552 (-19.4%), from €8,000 to €6,448
- Tax, wage and social debts -€1,318
down €1,318 (-17.1%), from €7,702 to €6,384
of which Taxes: -€1,765
- Trade debts +€1,036
up €1,036 (+26.8%), from €3,864 to €4,900
- Gross operating margin -€19,190
down €19,190 (-23.3%), from €82,227 to €63,038
- Staff costs -€18,384
down €18,384 (-46.8%), from €39,318 to €20,934
- Depreciation -€1,718
down €1,718 (-24.8%), from €6,917 to €5,200
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €93,083 | €94,931 | +€1,849 | +2.0% |
| Fixed assets | 21/28 | €10,956 | €13,773 | +€2,817 | +25.7% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €10,856 | €13,673 | +€2,817 | +25.9% |
| Land and buildings | 22 | €1,952 | €1,268 | -€683 | -35.0% |
| Plant, machinery and equipment | 23 | €2,820 | €1,675 | -€1,145 | -40.6% |
| Furniture and vehicles | 24 | €3,052 | €8,630 | +€5,577 | +183% |
| Other tangible fixed assets | 26 | €3,032 | €2,100 | -€932 | -30.7% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €82,127 | €81,159 | -€968 | -1.2% |
| Stocks and contracts in progress | 3 | €3,358 | €3,556 | +€198 | +5.9% |
| Stocks | 30/36 | €3,358 | €3,556 | +€198 | +5.9% |
| Amounts receivable within one year | 40/41 | €43,449 | €36,038 | -€7,411 | -17.1% |
| Trade receivables | 40 | - | €1,198 | +€1,198 | |
| Other amounts receivable | 41 | €43,449 | €34,840 | -€8,608 | -19.8% |
| Cash at bank and in hand | 54/58 | €33,984 | €41,564 | +€7,580 | +22.3% |
| Deferred charges and accrued income | 490/1 | €1,336 | - | -€1,336 | |
| Total equity and liabilities | 10/49 | €93,083 | €94,931 | +€1,849 | +2.0% |
| Equity | 10/15 | €66,609 | €48,975 | -€17,634 | -26.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €46,149 | €28,515 | -€17,634 | -38.2% |
| Amounts payable | 17/49 | €26,474 | €45,956 | +€19,482 | +73.6% |
| Amounts payable within one year | 42/48 | €26,474 | €45,956 | +€19,482 | +73.6% |
| Current portion of amounts payable after more than one year | 42 | €8,000 | €6,448 | -€1,552 | -19.4% |
| Trade debts | 44 | €3,864 | €4,900 | +€1,036 | +26.8% |
| Suppliers | 440/4 | €3,864 | €4,900 | +€1,036 | +26.8% |
| Taxes, remuneration and social security | 45 | €7,702 | €6,384 | -€1,318 | -17.1% |
| Taxes | 450/3 | €6,623 | €4,859 | -€1,765 | -26.6% |
| Remuneration and social security | 454/9 | €1,079 | €1,526 | +€447 | +41.5% |
| Other amounts payable | 47/48 | €6,908 | €28,223 | +€21,316 | +309% |
| Remuneration, social security and pensions | 62 | €39,318 | €20,934 | -€18,384 | -46.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,917 | €5,200 | -€1,718 | -24.8% |
| Other operating charges | 640/8 | €859 | €865 | +€6 | +0.7% |
| Gross operating margin | 9900 | €82,227 | €63,038 | -€19,190 | -23.3% |
| Operating profit (loss) | 9901 | €35,133 | €36,039 | +€906 | +2.6% |
| Financial income | 75/76B | €868 | €117 | -€751 | -86.5% |
| Recurring financial income | 75 | €868 | €117 | -€751 | -86.5% |
| Financial charges | 65/66B | €446 | €161 | -€285 | -63.8% |
| Recurring financial charges | 65 | €446 | €161 | -€285 | -63.8% |
| Profit (loss) for the period before taxes | 9903 | €35,555 | €35,995 | +€440 | +1.2% |
| Income taxes | 67/77 | €7,514 | €7,480 | -€34 | -0.5% |
| Profit (loss) for the period | 9904 | €28,041 | €28,515 | +€475 | +1.7% |
| Profit (loss) for the period to be appropriated | 9905 | €28,041 | €28,515 | +€475 | +1.7% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.