LS Immo: 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.
What changed
LS Immo
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€132,788
2024 · €124,831+€7,957
Equity
€1.7m
2024 · €1.7m+€12,788
Cash
€166,121
2024 · €8,362+€157,759
Balance sheet total
€2.0m
2024 · €1.9m+€151,804
Largest movements
Assets
- Cash +€157,759
up €157,759 (+1,887%), from €8,362 to €166,121
mainly Trade debts (+€193,615) and Net result for the year (+€132,788)
Equity and liabilities
- Trade debts +€193,615
up €193,615 (+2,312%), from €8,374 to €201,989
- Other debts -€59,255
down €59,255 (-33.1%), from €179,255 to €120,000
Income statement
- Other operating income +€198,925
new in 2025: €198,925
- Gross operating margin -€163,847
no longer reported in 2025 (was €163,847)
- Services and other goods +€18,624
new in 2025: €18,624
- Taxes +€7,359
up €7,359, from -€2,704 to €4,655
of which Taxes: +€4,655
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.
Result 2024
€124,831
Other operating charges
-€818
Other operating items
+€16,454
Financial income
+€699
Financial charges
-€1,019
Taxes
-€7,359
Result 2025
€132,788
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€277,759
Investment
-€1
Financing
-€120,000
Cash 2024
€8,362
From operations (derived)
+€277,759
Net result for the year
+€132,788
Receivables within one year
+€14,514
Deferred charges and accrued income
-€8,558
Provisions
-€0
Trade debts
+€193,615
Tax, wage and social debts
+€4,655
Other debts
-€59,255
Investment (derived)
-€1
Investment in fixed assets (net)
-€1
Financing
-€120,000
Contributions, distributions and other
-€120,000
Cash 2025
€166,121
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,880,379 | €2,032,183 | +€151,804 | +8.1% |
| Fixed assets | 21/28 | €907,251 | €907,252 | +€1 | 0.0% |
| Tangible fixed assets | 22/27 | €107,251 | €107,252 | +€1 | 0.0% |
| Land and buildings | 22 | €97,196 | €97,196 | +€0 | 0.0% |
| Other tangible fixed assets | 26 | €10,055 | €10,055 | +€0 | 0.0% |
| Financial fixed assets | 28 | €800,000 | €800,000 | = | 0.0% |
| Affiliated companies | 280/1 | - | €800,000 | +€800,000 | |
| Participating interests | 280 | - | €800,000 | +€800,000 | |
| Current assets | 29/58 | €973,128 | €1,124,931 | +€151,803 | +15.6% |
| Stocks and contracts in progress | 3 | - | €0 | = | |
| Amounts receivable within one year | 40/41 | €953,566 | €939,052 | -€14,514 | -1.5% |
| Trade receivables | 40 | €205,870 | €177,270 | -€28,600 | -13.9% |
| Other amounts receivable | 41 | €747,696 | €761,781 | +€14,085 | +1.9% |
| Cash at bank and in hand | 54/58 | €8,362 | €166,121 | +€157,759 | +1,887% |
| Deferred charges and accrued income | 490/1 | €11,200 | €19,758 | +€8,558 | +76.4% |
| Total equity and liabilities | 10/49 | €1,880,379 | €2,032,183 | +€151,804 | +8.1% |
| Equity | 10/15 | €1,679,339 | €1,692,127 | +€12,788 | +0.8% |
| Contributions | 10/11 | €650,000 | €650,000 | = | 0.0% |
| Capital | 10 | €650,000 | €650,000 | = | 0.0% |
| Issued capital | 100 | €650,000 | €650,000 | = | 0.0% |
| Reserves | 13 | €65,000 | €65,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €65,000 | €65,000 | = | 0.0% |
| Legal reserve | 130 | €65,000 | €65,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €964,339 | €977,127 | +€12,788 | +1.3% |
| Provisions and deferred taxes | 16 | €7,769 | €7,769 | -€0 | 0.0% |
| Provisions for liabilities and charges | 160/5 | €7,769 | €7,769 | -€0 | 0.0% |
| Other liabilities and charges | 164/5 | €7,769 | €7,769 | -€0 | 0.0% |
| Amounts payable | 17/49 | €193,271 | €332,286 | +€139,015 | +71.9% |
| Amounts payable within one year | 42/48 | €193,271 | €332,286 | +€139,015 | +71.9% |
| Trade debts | 44 | €8,374 | €201,989 | +€193,615 | +2,312% |
| Suppliers | 440/4 | €8,374 | €201,989 | +€193,615 | +2,312% |
| Taxes, remuneration and social security | 45 | €5,642 | €10,297 | +€4,655 | +82.5% |
| Taxes | 450/3 | €5,642 | €10,297 | +€4,655 | +82.5% |
| Other amounts payable | 47/48 | €179,255 | €120,000 | -€59,255 | -33.1% |
| Operating income | 70/76A | - | €198,925 | +€198,925 | |
| Other operating income | 74 | - | €198,925 | +€198,925 | |
| Operating charges | 60/66A | - | €66,948 | +€66,948 | |
| Services and other goods | 61 | - | €18,624 | +€18,624 | |
| Other operating charges | 640/8 | €47,506 | €48,324 | +€818 | +1.7% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €163,847 | - | -€163,847 | |
| Operating profit (loss) | 9901 | €116,341 | €131,977 | +€15,636 | +13.4% |
| Financial income | 75/76B | €6,259 | €6,958 | +€699 | +11.2% |
| Recurring financial income | 75 | €6,259 | €6,958 | +€699 | +11.2% |
| Income from financial fixed assets | 750 | - | €6,958 | +€6,958 | |
| Financial charges | 65/66B | €473 | €1,492 | +€1,019 | +215% |
| Recurring financial charges | 65 | €473 | €1,492 | +€1,019 | +215% |
| Other financial charges | 652/9 | - | €1,492 | +€1,492 | |
| Profit (loss) for the period before taxes | 9903 | €122,127 | €137,443 | +€15,316 | +12.5% |
| Income taxes | 67/77 | -€2,704 | €4,655 | +€7,359 | |
| Taxes | 670/3 | - | €4,655 | +€4,655 | |
| Tax adjustments and reversals of tax provisions | 77 | - | €0 | = | |
| Profit (loss) for the period | 9904 | €124,831 | €132,788 | +€7,957 | +6.4% |
| Profit (loss) for the period to be appropriated | 9905 | €124,831 | €132,788 | +€7,957 | +6.4% |
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.