L4PC: 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.
L4PC
Largest movements
- Cash -€277,932
down €277,932 (-91.8%), from €302,919 to €24,987
mainly Contributions, distributions and other (-€1.0m) and Other debts (-€180,000)
- Deferred charges and accrued income +€48,423
up €48,423 (+16.3%), from €297,250 to €345,673
- Current investments +€20,000
up €20,000 (+2.4%), from €840,000 to €860,000
- Other debts -€180,000
down €180,000 (-14.8%), from €1.2m to €1.0m
- Profit (loss) carried forward -€32,761
down €32,761 (-33.3%), from €98,275 to €65,514
- Gross operating margin -€246,883
down €246,883 (-13.5%), from €1.8m to €1.6m
- Staff costs -€22,917
down €22,917 (-3.8%), from €598,028 to €575,111
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 | €1,495,565 | €1,267,035 | -€228,530 | -15.3% |
| Fixed assets | 21/28 | €48,146 | €33,956 | -€14,190 | -29.5% |
| Tangible fixed assets | 22/27 | €48,146 | €33,956 | -€14,190 | -29.5% |
| Furniture and vehicles | 24 | €48,146 | €33,956 | -€14,190 | -29.5% |
| Current assets | 29/58 | €1,447,419 | €1,233,079 | -€214,340 | -14.8% |
| Amounts receivable within one year | 40/41 | €7,250 | €2,418 | -€4,831 | -66.6% |
| Other amounts receivable | 41 | €7,250 | €2,418 | -€4,831 | -66.6% |
| Current investments | 50/53 | €840,000 | €860,000 | +€20,000 | +2.4% |
| Cash at bank and in hand | 54/58 | €302,919 | €24,987 | -€277,932 | -91.8% |
| Deferred charges and accrued income | 490/1 | €297,250 | €345,673 | +€48,423 | +16.3% |
| Total equity and liabilities | 10/49 | €1,495,565 | €1,267,035 | -€228,530 | -15.3% |
| Equity | 10/15 | €138,275 | €105,514 | -€32,761 | -23.7% |
| Contributions | 10/11 | €40,000 | €40,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €98,275 | €65,514 | -€32,761 | -33.3% |
| Amounts payable | 17/49 | €1,357,290 | €1,161,521 | -€195,769 | -14.4% |
| Amounts payable within one year | 42/48 | €1,312,290 | €1,116,521 | -€195,769 | -14.9% |
| Trade debts | 44 | €8,741 | €401 | -€8,340 | -95.4% |
| Suppliers | 440/4 | €8,741 | €401 | -€8,340 | -95.4% |
| Taxes, remuneration and social security | 45 | €83,299 | €75,870 | -€7,429 | -8.9% |
| Taxes | 450/3 | - | €108 | +€108 | |
| Remuneration and social security | 454/9 | €83,299 | €75,762 | -€7,537 | -9.0% |
| Other amounts payable | 47/48 | €1,220,249 | €1,040,249 | -€180,000 | -14.8% |
| Accrued charges and deferred income | 492/3 | €45,000 | €45,000 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €598,028 | €575,111 | -€22,917 | -3.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,134 | €15,534 | -€600 | -3.7% |
| Other operating charges | 640/8 | €2,040 | €1,343 | -€697 | -34.2% |
| Gross operating margin | 9900 | €1,834,035 | €1,587,152 | -€246,883 | -13.5% |
| Operating profit (loss) | 9901 | €1,217,833 | €995,164 | -€222,670 | -18.3% |
| Financial income | 75/76B | €26,329 | €23,020 | -€3,308 | -12.6% |
| Recurring financial income | 75 | €26,329 | €23,020 | -€3,308 | -12.6% |
| Financial charges | 65/66B | €6,416 | €4,999 | -€1,417 | -22.1% |
| Recurring financial charges | 65 | €6,416 | €4,999 | -€1,417 | -22.1% |
| Profit (loss) for the period before taxes | 9903 | €1,237,746 | €1,013,185 | -€224,562 | -18.1% |
| Income taxes | 67/77 | €15,816 | €5,945 | -€9,870 | -62.4% |
| Profit (loss) for the period | 9904 | €1,221,930 | €1,007,239 | -€214,691 | -17.6% |
| Profit (loss) for the period to be appropriated | 9905 | €1,221,930 | €1,007,239 | -€214,691 | -17.6% |
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 23 October 2026 via checked.be.