LW2: 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.
LW2
Largest movements
- Cash -€9,087
down €9,087 (-68.8%), from €13,209 to €4,122
mainly Net result for the year (-€7,812) and Debts after one year (-€4,072)
- Tangible fixed assets -€4,807
down €4,807 (-40.2%), from €11,963 to €7,156
of which Furniture and vehicles: -€4,432
- Receivables within one year +€2,632
up €2,632 (+536.0%), from €491 to €3,123
of which Trade receivables: +€1,995
- Reserves -€7,812
down €7,812 (-98.4%), from €7,943 to €131
- Debts after one year -€4,072
down €4,072 (-100.0%), from €4,072 to €0
- Trade debts +€1,951
up €1,951 (+320.9%), from €608 to €2,559
- Current portion of long-term debt -€1,212
down €1,212 (-22.9%), from €5,284 to €4,072
- Gross operating margin -€5,610
down €5,610, from €3,276 to -€2,334
- Depreciation -€382
down €382 (-7.4%), from €5,189 to €4,807
- Other operating charges -€324
down €324 (-60.4%), from €536 to €212
- Financial charges -€155
down €155 (-25.2%), from €614 to €459
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 | €25,663 | €14,401 | -€11,262 | -43.9% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €11,963 | €7,156 | -€4,807 | -40.2% |
| Tangible fixed assets | 22/27 | €11,963 | €7,156 | -€4,807 | -40.2% |
| Plant, machinery and equipment | 23 | €637 | €262 | -€375 | -58.9% |
| Furniture and vehicles | 24 | €11,326 | €6,894 | -€4,432 | -39.1% |
| Current assets | 29/58 | €13,700 | €7,245 | -€6,455 | -47.1% |
| Amounts receivable within one year | 40/41 | €491 | €3,123 | +€2,632 | +536.0% |
| Trade receivables | 40 | - | €1,995 | +€1,995 | |
| Other amounts receivable | 41 | €491 | €1,128 | +€637 | +129.7% |
| Cash at bank and in hand | 54/58 | €13,209 | €4,122 | -€9,087 | -68.8% |
| Total equity and liabilities | 10/49 | €25,663 | €14,401 | -€11,262 | -43.9% |
| Equity | 10/15 | €13,943 | €6,131 | -€7,812 | -56.0% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Reserves | 13 | €7,943 | €131 | -€7,812 | -98.4% |
| Distributable reserves | 133 | €7,943 | €131 | -€7,812 | -98.4% |
| Amounts payable | 17/49 | €11,720 | €8,270 | -€3,450 | -29.4% |
| Amounts payable after more than one year | 17 | €4,072 | €0 | -€4,072 | -100.0% |
| Financial debts | 170/4 | €4,072 | €0 | -€4,072 | -100.0% |
| Amounts payable within one year | 42/48 | €7,648 | €8,270 | +€622 | +8.1% |
| Current portion of amounts payable after more than one year | 42 | €5,284 | €4,072 | -€1,212 | -22.9% |
| Trade debts | 44 | €608 | €2,559 | +€1,951 | +320.9% |
| Suppliers | 440/4 | €608 | €2,559 | +€1,951 | +320.9% |
| Taxes, remuneration and social security | 45 | €0 | - | = | |
| Taxes | 450/3 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,756 | €1,639 | -€117 | -6.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,189 | €4,807 | -€382 | -7.4% |
| Other operating charges | 640/8 | €536 | €212 | -€324 | -60.4% |
| Gross operating margin | 9900 | €3,276 | -€2,334 | -€5,610 | |
| Operating profit (loss) | 9901 | -€2,449 | -€7,353 | -€4,904 | -200.2% |
| Financial income | 75/76B | €15 | €0 | -€15 | -100.0% |
| Recurring financial income | 75 | €15 | €0 | -€15 | -100.0% |
| Financial charges | 65/66B | €614 | €459 | -€155 | -25.2% |
| Recurring financial charges | 65 | €614 | €459 | -€155 | -25.2% |
| Profit (loss) for the period before taxes | 9903 | -€3,048 | -€7,812 | -€4,764 | -156.3% |
| Income taxes | 67/77 | €0 | €0 | = | |
| Profit (loss) for the period | 9904 | -€3,048 | -€7,812 | -€4,764 | -156.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€3,048 | -€7,812 | -€4,764 | -156.3% |
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.