LS & S: what changed
LS & S
Largest movements
- Tangible fixed assets -€2,964
down €2,964 (-13.5%), from €22,030 to €19,066
- Cash +€1,947
up €1,947 (+154%), from €1,264 to €3,211
mainly Net result for the year (+€31,313) and Depreciation (+€2,964)
- Stocks and contracts +€799
up €799 (+43.2%), from €1,851 to €2,650
- Profit (loss) carried forward +€31,313
up €31,313 (+20.5%), from -€152,424 to -€121,111
- Other debts -€24,581
down €24,581 (-16.7%), from €147,049 to €122,468
- Tax, wage and social debts -€4,306
down €4,306 (-55.0%), from €7,828 to €3,522
- Trade debts -€2,464
down €2,464 (-60.2%), from €4,093 to €1,629
- Gross operating margin +€63,338
up €63,338, from -€28,198 to €35,140
- Depreciation +€857
up €857 (+40.7%), from €2,107 to €2,964
- Other operating charges -€356
down €356 (-47.6%), from €748 to €392
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €25,145 | €25,107 | -€38 | -0.2% |
| Fixed assets | 21/28 | €22,030 | €19,246 | -€2,784 | -12.6% |
| Tangible fixed assets | 22/27 | €22,030 | €19,066 | -€2,964 | -13.5% |
| Land and buildings | 22 | €22,030 | €19,066 | -€2,964 | -13.5% |
| Financial fixed assets | 28 | - | €180 | +€180 | |
| Current assets | 29/58 | €3,115 | €5,861 | +€2,746 | +88.2% |
| Stocks and contracts in progress | 3 | €1,851 | €2,650 | +€799 | +43.2% |
| Stocks | 30/36 | €1,851 | €2,650 | +€799 | +43.2% |
| Cash at bank and in hand | 54/58 | €1,264 | €3,211 | +€1,947 | +154% |
| Total equity and liabilities | 10/49 | €25,145 | €25,107 | -€38 | -0.2% |
| Equity | 10/15 | -€133,824 | -€102,511 | +€31,313 | +23.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€152,424 | -€121,111 | +€31,313 | +20.5% |
| Amounts payable | 17/49 | €158,969 | €127,619 | -€31,350 | -19.7% |
| Amounts payable within one year | 42/48 | €158,969 | €127,619 | -€31,350 | -19.7% |
| Trade debts | 44 | €4,093 | €1,629 | -€2,464 | -60.2% |
| Suppliers | 440/4 | €4,093 | €1,629 | -€2,464 | -60.2% |
| Taxes, remuneration and social security | 45 | €7,828 | €3,522 | -€4,306 | -55.0% |
| Taxes | 450/3 | €7,828 | €3,522 | -€4,306 | -55.0% |
| Other amounts payable | 47/48 | €147,049 | €122,468 | -€24,581 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,107 | €2,964 | +€857 | +40.7% |
| Other operating charges | 640/8 | €748 | €392 | -€356 | -47.6% |
| Gross operating margin | 9900 | -€28,198 | €35,140 | +€63,338 | |
| Operating profit (loss) | 9901 | -€31,053 | €31,784 | +€62,837 | |
| Financial charges | 65/66B | €475 | €471 | -€4 | -0.8% |
| Recurring financial charges | 65 | €475 | €471 | -€4 | -0.8% |
| Profit (loss) for the period before taxes | 9903 | -€31,528 | €31,313 | +€62,841 | |
| Profit (loss) for the period | 9904 | -€31,528 | €31,313 | +€62,841 | |
| Profit (loss) for the period to be appropriated | 9905 | -€31,528 | €31,313 | +€62,841 |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.