PROYE LSD: 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.
PROYE LSD
Largest movements
- Cash -€25,171
down €25,171 (-10.1%), from €249,041 to €223,870
mainly Net result for the year (-€34,910) and Debts after one year (-€10,553)
- Tangible fixed assets -€20,072
down €20,072 (-64.6%), from €31,080 to €11,008
of which Furniture and vehicles: -€18,616
- Profit (loss) carried forward -€34,910
down €34,910 (-31.3%), from €111,564 to €76,655
- Debts after one year -€10,553
no longer reported in 2025 (was €10,553)
- Current portion of long-term debt -€7,411
down €7,411 (-41.3%), from €17,964 to €10,553
- Tax, wage and social debts +€5,771
up €5,771 (+97.6%), from €5,915 to €11,686
of which Remuneration and social security: +€11,382
- Gross operating margin -€20,108
down €20,108, from €2,121 to -€17,987
- Financial income -€3,358
down €3,358 (-42.0%), from €7,991 to €4,633
- Depreciation -€836
down €836 (-4.0%), from €20,908 to €20,072
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 | €283,800 | €237,500 | -€46,300 | -16.3% |
| Fixed assets | 21/28 | €31,080 | €11,008 | -€20,072 | -64.6% |
| Tangible fixed assets | 22/27 | €31,080 | €11,008 | -€20,072 | -64.6% |
| Plant, machinery and equipment | 23 | €2,574 | €1,118 | -€1,457 | -56.6% |
| Furniture and vehicles | 24 | €28,506 | €9,890 | -€18,616 | -65.3% |
| Current assets | 29/58 | €252,720 | €226,492 | -€26,228 | -10.4% |
| Cash at bank and in hand | 54/58 | €249,041 | €223,870 | -€25,171 | -10.1% |
| Deferred charges and accrued income | 490/1 | €3,679 | €2,623 | -€1,057 | -28.7% |
| Total equity and liabilities | 10/49 | €283,800 | €237,500 | -€46,300 | -16.3% |
| Equity | 10/15 | €248,524 | €213,615 | -€34,910 | -14.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €118,360 | €118,360 | = | 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% |
| Distributable reserves | 133 | €116,500 | €116,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | €111,564 | €76,655 | -€34,910 | -31.3% |
| Amounts payable | 17/49 | €35,276 | €23,885 | -€11,391 | -32.3% |
| Amounts payable after more than one year | 17 | €10,553 | - | -€10,553 | |
| Financial debts | 170/4 | €10,553 | - | -€10,553 | |
| Amounts payable within one year | 42/48 | €24,723 | €23,885 | -€837 | -3.4% |
| Current portion of amounts payable after more than one year | 42 | €17,964 | €10,553 | -€7,411 | -41.3% |
| Trade debts | 44 | €844 | €966 | +€122 | +14.5% |
| Suppliers | 440/4 | €844 | €966 | +€122 | +14.5% |
| Taxes, remuneration and social security | 45 | €5,915 | €11,686 | +€5,771 | +97.6% |
| Taxes | 450/3 | €5,915 | €304 | -€5,611 | -94.9% |
| Remuneration and social security | 454/9 | - | €11,382 | +€11,382 | |
| Other amounts payable | 47/48 | - | €680 | +€680 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,908 | €20,072 | -€836 | -4.0% |
| Other operating charges | 640/8 | €925 | €807 | -€118 | -12.8% |
| Gross operating margin | 9900 | €2,121 | -€17,987 | -€20,108 | |
| Operating profit (loss) | 9901 | -€19,713 | -€38,867 | -€19,154 | -97.2% |
| Financial income | 75/76B | €7,991 | €4,633 | -€3,358 | -42.0% |
| Recurring financial income | 75 | €7,991 | €4,633 | -€3,358 | -42.0% |
| Financial charges | 65/66B | €628 | €457 | -€172 | -27.3% |
| Recurring financial charges | 65 | €628 | €457 | -€172 | -27.3% |
| Profit (loss) for the period before taxes | 9903 | -€12,349 | -€34,690 | -€22,341 | -180.9% |
| Income taxes | 67/77 | €274 | €220 | -€54 | -19.9% |
| Profit (loss) for the period | 9904 | -€12,623 | -€34,910 | -€22,286 | -176.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€12,623 | -€34,910 | -€22,286 | -176.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.