THE LORD: 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.
THE LORD
Largest movements
- Receivables within one year +€32,876
up €32,876 (+217%), from €15,184 to €48,060
- Cash -€4,486
down €4,486 (-18.1%), from €24,848 to €20,363
mainly Receivables within one year (-€32,876) and Deferred charges and accrued income (-€1,392)
- Deferred charges and accrued income +€1,392
up €1,392 (+27.9%), from €4,993 to €6,385
- Reserves +€19,515
up €19,515 (+87.5%), from €22,311 to €41,826
of which Distributable reserves: +€19,515
- Tax, wage and social debts +€11,301
up €11,301 (+14,317%), from €79 to €11,379
- Trade debts -€1,340
down €1,340 (-30.0%), from €4,470 to €3,130
- Gross operating margin +€17,487
up €17,487 (+153%), from €11,432 to €28,919
- Taxes +€8,452
new in 2025: €8,452
- Other operating charges -€965
down €965 (-50.3%), from €1,920 to €955
- Financial income +€420
up €420 (+186%), from €226 to €646
- Financial charges -€382
down €382 (-53.1%), from €718 to €337
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 | €46,210 | €75,686 | +€29,476 | +63.8% |
| Fixed assets | 21/28 | €1,185 | €878 | -€307 | -25.9% |
| Tangible fixed assets | 22/27 | €1,185 | €878 | -€307 | -25.9% |
| Land and buildings | 22 | €934 | €817 | -€117 | -12.5% |
| Plant, machinery and equipment | 23 | €251 | €61 | -€190 | -75.7% |
| Current assets | 29/58 | €45,025 | €74,808 | +€29,783 | +66.1% |
| Amounts receivable within one year | 40/41 | €15,184 | €48,060 | +€32,876 | +217% |
| Other amounts receivable | 41 | €15,184 | €48,060 | +€32,876 | +217% |
| Cash at bank and in hand | 54/58 | €24,848 | €20,363 | -€4,486 | -18.1% |
| Deferred charges and accrued income | 490/1 | €4,993 | €6,385 | +€1,392 | +27.9% |
| Total equity and liabilities | 10/49 | €46,210 | €75,686 | +€29,476 | +63.8% |
| Equity | 10/15 | €40,903 | €60,418 | +€19,515 | +47.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €22,311 | €41,826 | +€19,515 | +87.5% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Distributable reserves | 133 | €20,452 | €39,967 | +€19,515 | +95.4% |
| Amounts payable | 17/49 | €5,307 | €15,268 | +€9,961 | +188% |
| Amounts payable within one year | 42/48 | €5,307 | €15,268 | +€9,961 | +188% |
| Current portion of amounts payable after more than one year | 42 | €758 | €758 | = | 0.0% |
| Trade debts | 44 | €4,470 | €3,130 | -€1,340 | -30.0% |
| Suppliers | 440/4 | €4,470 | €3,130 | -€1,340 | -30.0% |
| Taxes, remuneration and social security | 45 | €79 | €11,379 | +€11,301 | +14,317% |
| Taxes | 450/3 | €79 | €11,379 | +€11,301 | +14,317% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €307 | €307 | = | 0.0% |
| Other operating charges | 640/8 | €1,920 | €955 | -€965 | -50.3% |
| Gross operating margin | 9900 | €11,432 | €28,919 | +€17,487 | +153% |
| Operating profit (loss) | 9901 | €9,205 | €27,657 | +€18,452 | +200% |
| Financial income | 75/76B | €226 | €646 | +€420 | +186% |
| Recurring financial income | 75 | €226 | €646 | +€420 | +186% |
| Financial charges | 65/66B | €718 | €337 | -€382 | -53.1% |
| Recurring financial charges | 65 | €718 | €337 | -€382 | -53.1% |
| Profit (loss) for the period before taxes | 9903 | €8,713 | €27,967 | +€19,254 | +221% |
| Income taxes | 67/77 | - | €8,452 | +€8,452 | |
| Profit (loss) for the period | 9904 | €8,713 | €19,515 | +€10,802 | +124% |
| Profit (loss) for the period to be appropriated | 9905 | €8,713 | €19,515 | +€10,802 | +124% |
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 21 October 2026 via checked.be.