LWRSN: 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.
LWRSN
Largest movements
- Stocks and contracts -€122,173
down €122,173 (-39.4%), from €310,328 to €188,155
- Cash -€67,169
down €67,169 (-69.8%), from €96,189 to €29,020
mainly Tax, wage and social debts (-€189,026) and Current portion of long-term debt (-€176,210)
- Tangible fixed assets -€32,490
down €32,490 (-23.1%), from €140,865 to €108,375
- Tax, wage and social debts -€189,026
down €189,026 (-96.4%), from €196,011 to €6,984
of which Taxes: -€175,122
- Current portion of long-term debt -€176,210
down €176,210 (-89.9%), from €196,090 to €19,881
- Other debts +€156,824
up €156,824 (+53.3%), from €294,232 to €451,056
- Profit (loss) carried forward +€22,908
up €22,908 (+27.2%), from €84,258 to €107,166
- Gross operating margin +€170,020
up €170,020, from -€66,870 to €103,150
- Staff costs -€40,517
down €40,517 (-53.5%), from €75,749 to €35,232
- Financial income -€10,091
down €10,091 (-32.0%), from €31,573 to €21,482
- Financial charges -€6,443
down €6,443 (-18.8%), from €34,317 to €27,874
- Other operating charges -€1,462
down €1,462 (-31.7%), from €4,613 to €3,152
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 | €2,215,513 | €2,007,744 | -€207,770 | -9.4% |
| Fixed assets | 21/28 | €149,445 | €114,825 | -€34,620 | -23.2% |
| Tangible fixed assets | 22/27 | €140,865 | €108,375 | -€32,490 | -23.1% |
| Furniture and vehicles | 24 | €140,865 | €108,375 | -€32,490 | -23.1% |
| Financial fixed assets | 28 | €8,580 | €6,450 | -€2,130 | -24.8% |
| Current assets | 29/58 | €2,066,068 | €1,892,919 | -€173,149 | -8.4% |
| Stocks and contracts in progress | 3 | €310,328 | €188,155 | -€122,173 | -39.4% |
| Contracts in progress | 37 | €310,328 | €188,155 | -€122,173 | -39.4% |
| Amounts receivable within one year | 40/41 | €894,306 | €899,778 | +€5,473 | +0.6% |
| Trade receivables | 40 | €0 | €301,390 | +€301,390 | |
| Other amounts receivable | 41 | €894,306 | €598,388 | -€295,918 | -33.1% |
| Cash at bank and in hand | 54/58 | €96,189 | €29,020 | -€67,169 | -69.8% |
| Deferred charges and accrued income | 490/1 | €765,245 | €775,965 | +€10,720 | +1.4% |
| Total equity and liabilities | 10/49 | €2,215,513 | €2,007,744 | -€207,770 | -9.4% |
| Equity | 10/15 | €1,196,933 | €1,219,841 | +€22,908 | +1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,094,075 | €1,094,075 | = | 0.0% |
| Distributable reserves | 133 | €1,094,075 | €1,094,075 | = | 0.0% |
| Profit (loss) carried forward | 14 | €84,258 | €107,166 | +€22,908 | +27.2% |
| Amounts payable | 17/49 | €1,018,581 | €787,902 | -€230,678 | -22.6% |
| Amounts payable after more than one year | 17 | €64,372 | €44,492 | -€19,881 | -30.9% |
| Financial debts | 170/4 | €64,372 | €44,492 | -€19,881 | -30.9% |
| Amounts payable within one year | 42/48 | €786,090 | €575,292 | -€210,798 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €196,090 | €19,881 | -€176,210 | -89.9% |
| Trade debts | 44 | €99,758 | €97,372 | -€2,386 | -2.4% |
| Suppliers | 440/4 | €99,758 | €97,372 | -€2,386 | -2.4% |
| Taxes, remuneration and social security | 45 | €196,011 | €6,984 | -€189,026 | -96.4% |
| Taxes | 450/3 | €182,106 | €6,984 | -€175,122 | -96.2% |
| Remuneration and social security | 454/9 | €13,905 | €0 | -€13,905 | -100% |
| Other amounts payable | 47/48 | €294,232 | €451,056 | +€156,824 | +53.3% |
| Accrued charges and deferred income | 492/3 | €168,118 | €168,118 | = | 0.0% |
| Non-recurring operating income | 76A | €0 | €4,931 | +€4,931 | |
| Remuneration, social security and pensions | 62 | €75,749 | €35,232 | -€40,517 | -53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,938 | €33,314 | +€376 | +1.1% |
| Other operating charges | 640/8 | €4,613 | €3,152 | -€1,462 | -31.7% |
| Non-recurring operating charges | 66A | €938 | €1,850 | +€913 | +97.3% |
| Gross operating margin | 9900 | -€66,870 | €103,150 | +€170,020 | |
| Operating profit (loss) | 9901 | -€181,109 | €29,601 | +€210,710 | |
| Financial income | 75/76B | €31,573 | €21,482 | -€10,091 | -32.0% |
| Recurring financial income | 75 | €31,573 | €21,482 | -€10,091 | -32.0% |
| Financial charges | 65/66B | €34,317 | €27,874 | -€6,443 | -18.8% |
| Recurring financial charges | 65 | €34,317 | €27,874 | -€6,443 | -18.8% |
| Profit (loss) for the period before taxes | 9903 | -€183,853 | €23,209 | +€207,062 | |
| Income taxes | 67/77 | €375 | €301 | -€74 | -19.8% |
| Profit (loss) for the period | 9904 | -€184,227 | €22,908 | +€207,136 | |
| Profit (loss) for the period to be appropriated | 9905 | -€184,227 | €22,908 | +€207,136 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 October 2026 via checked.be.