L & D PROJECTS (0479.500.692): financials and annual accounts

L & D PROJECTS

Antwerp ·KBO/BCE: BE 0479.500.692

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
Balance sheet: assets
Total assets`20/58`	5.0m	4.8m	5.1m	5.7m	4.8m	3.9m	4.2m	5.0m	5.1m	5.7m	5.3m	2.2m	2.0m	2.6m	1.9m	4.1m	2.0m	2.1m	2.1m	1.9m
Fixed assets`21/28`	959,111	971,815	984,519	1.2m	1.3m	1.3m	1.5m	1.3m	1.3m	1.3m	1.1m	1.1m	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745
Tangible fixed assets`22/27`	346,366	359,070	371,774	636,193	655,240	674,286	926,921	675,150	694,123	713,096	473,403	486,107	-	-	-	-	-	-	-	-
Land and buildings`22`	346,366	359,070	371,774	636,193	655,240	674,286	926,921	675,150	694,123	713,096	473,403	486,107	-	-	-	-	-	-	-	-
Financial fixed assets`28`	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745	612,745
Current assets`29/58`	4.1m	3.8m	4.1m	4.4m	3.5m	2.6m	2.7m	3.7m	3.8m	4.4m	4.2m	1.1m	1.4m	2.0m	1.3m	3.5m	1.3m	1.5m	1.5m	1.3m
Amounts receivable after more than one year`29`	822,275	822,275	822,275	753,170	753,170	15,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Other amounts receivable`291`	822,275	822,275	822,275	753,170	753,170	15,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Stocks and contracts in progress`3`	2.4m	2.5m	2.6m	2.8m	1.6m	2.1m	1.8m	2.9m	3.3m	4.2m	4.0m	1.0m	1.3m	1.7m	959,967	3.4m	1.0m	958,294	1.2m	1.2m
Stocks`30/36`	2.4m	2.5m	2.6m	2.8m	1.6m	2.1m	1.8m	2.9m	3.3m	4.2m	4.0m	1.0m	1.3m	1.7m	959,967	3.4m	1.0m	958,294	1.2m	1.2m
Amounts receivable within one year`40/41`	848,948	436,549	351,248	429,273	121,267	15,162	775,610	734,913	141,520	-	161,000	3,000	-	279,757	364,028	84,289	242,358	402,516	171,054	26,738
Trade receivables`40`	9,000	-	-	115,000	115,000	-	-	15,050	141,520	-	161,000	-	-	279,750	363,000	81,925	241,617	401,375	87,223	-
Other amounts receivable`41`	839,948	436,549	351,248	314,273	6,267	15,162	775,610	719,863	-	-	-	3,000	-	7	1,028	2,364	741	1,141	83,831	26,738
Cash at bank and in hand`54/58`	21,686	85,351	379,799	425,310	1.0m	469,059	92,412	85,742	297,112	270,486	113,515	20,493	99,027	17,190	5,688	7,280	67,727	96,699	102,078	55,669
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	5.0m	4.8m	5.1m	5.7m	4.8m	3.9m	4.2m	5.0m	5.1m	5.7m	5.3m	2.2m	2.0m	2.6m	1.9m	4.1m	2.0m	2.1m	2.1m	1.9m
Equity`10/15`	2.1m	2.2m	2.2m	2.2m	2.2m	1.2m	1.7m	1.2m	888,685	837,050	564,649	548,827	476,785	475,433	475,009	472,353	474,119	475,956	269,425	175,220
Contributions`10/11`	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000
Capital`10`	75,000	75,000	75,000	75,000	75,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Issued capital`100`	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000	75,000
Reserves`13`	2.0m	2.1m	2.2m	2.2m	2.1m	1.2m	1.6m	1.1m	813,685	762,050	489,649	473,827	401,785	400,433	400,009	397,353	399,119	400,956	194,425	100,220
Non-distributable reserves`130/1`	7,500	7,500	7,500	7,500	7,500	7,500	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Legal reserve`130`	7,500	7,500	7,500	7,500	7,500	7,500	7,500	7,500	7,500	7,500	7,500	7,500	7,500	7,500	7,500	7,500	7,500	7,500	7,500	5,011
Distributable reserves`133`	2.0m	2.1m	2.1m	2.2m	2.1m	1.2m	1.6m	1.1m	806,185	754,550	482,149	466,327	394,285	392,933	392,509	389,853	391,619	393,456	186,925	95,209
Amounts payable`17/49`	3.0m	2.6m	2.9m	3.4m	2.5m	2.6m	2.5m	3.8m	4.2m	4.9m	4.7m	1.6m	1.5m	2.1m	1.5m	3.7m	1.5m	1.6m	1.8m	1.7m
Amounts payable after more than one year`17`	838,881	783,254	776,567	818,847	922,242	955,580	988,664	754,167	770,833	787,500	1.2m	-	-	-	-	-	-	-	-	-
Financial debts`170/4`	838,881	783,254	776,567	818,847	922,242	955,580	988,664	754,167	770,833	787,500	1.0m	-	-	-	-	-	-	-	-	-
Other amounts payable`178/9`	-	-	-	-	-	-	-	-	-	-	220,000	-	-	-	-	-	-	-	-	-
Amounts payable within one year`42/48`	2.1m	1.8m	2.1m	2.6m	1.6m	1.7m	1.5m	3.1m	3.4m	4.1m	3.5m	1.6m	1.5m	2.1m	1.4m	3.6m	1.4m	1.4m	1.4m	1.7m
Current portion of amounts payable after more than one year`42`	44,373	43,313	42,280	41,274	33,338	33,084	32,833	16,667	20,833	16,667	16,666	-	173,638	-	-	-	-	-	-	-
Financial debts`43`	2.0m	1.7m	1.8m	2.1m	1.1m	1.1m	1.0m	2.7m	2.4m	2.2m	2.5m	-	200,000	1.0m	656,297	3.0m	847,023	1.2m	1.3m	1.2m
Credit institutions`430/8`	2.0m	1.7m	1.8m	2.1m	1.1m	1.1m	1.0m	2.7m	2.4m	2.2m	2.5m	-	200,000	1.0m	656,297	3.0m	847,023	1.2m	1.3m	1.2m
Trade debts`44`	73	-	1,595	-	1,321	-	621	2,570	-	-	-	-	-	1,642	17,534	8,472	29,043	97,258	57,000	103,029
Suppliers`440/4`	73	-	1,595	-	1,321	-	621	2,570	-	-	-	-	-	1,642	17,534	8,472	29,043	97,258	57,000	103,029
Advances received on contracts in progress`46`	-	-	-	-	2,880	49,300	14,750	97,525	89,850	31,800	107,400	13,000	-	-	-	-	-	-	9,450	-
Taxes, remuneration and social security`45`	6,283	59,771	116,802	358,419	303,684	320,524	320,524	126,529	111,757	221,232	8,285	38,051	410	4,757	-	-	125,563	188,761	60,258	16,627
Taxes`450/3`	6,283	59,771	116,802	358,419	303,684	320,524	320,524	126,529	111,757	221,232	8,285	38,051	410	4,757	-	-	125,563	188,761	60,258	16,627
Other amounts payable`47/48`	76,974	75,000	150,000	150,000	150,000	150,000	150,000	150,000	755,169	1.7m	867,953	1.6m	1.1m	1.1m	735,112	606,041	387,796	-	-	439,770
Accrued charges and deferred income`492/3`	-	-	-	1,221	1,161	1,552	2,088	1,557	8,137	4,517	1,903	32	315	22,929	58,476	61,794	95,690	151,371	391,637	335
Income statement
Turnover`70`	111,000	441,000	291,000	979,000	1.2m	1.1m	2.1m	1.7m	1.3m	2.3m	582,000	372,200	2.5m	780,000	3.1m	682,825	1.1m	2.3m	1.2m	152,425
Non-recurring operating income`76A`	-	-	133,284	-	-	138,912	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Gross operating margin`9900`	54,417	103,222	232,140	299,922	790,958	719,806	1.1m	704,834	501,054	820,306	157,458	180,459	551,439	158,438	526,395	308,559	509,030	1.0m	231,025	91,748
Goods, raw materials, services and sundry goods`60/61`	102,644	384,378	263,827	740,600	492,663	618,083	1.1m	1.1m	860,946	1.5m	472,400	253,214	2.0m	621,562	2.6m	380,291	607,822	1.3m	983,989	60,677
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	12,704	12,704	12,704	19,046	19,046	19,046	20,559	18,973	18,973	13,218	12,704	2,158	-	-	-	-	-	-	-	-
Other operating charges`640/8`	4,462	2,921	4,891	6,246	2,262	2,508	966	1,014	962	1,160	1,161	1,160	1,158	4,666	1,107	1,126	1,106	1,957	1,306	1,088
Non-recurring operating charges`66A`	-	-	-	-	-	960,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Operating profit (loss)`9901`	37,251	87,597	214,545	274,630	769,650	698,252	1.1m	684,847	481,119	805,929	143,593	177,141	550,281	153,772	525,288	307,433	507,924	1.0m	229,719	90,660
Financial income`75/76B`	44,323	51,387	118,162	19,697	738,486	26,843	35,537	23,946	5	11	1,117	5,200	126	43	16	92	2,746	18,848	295	49
Recurring financial income`75`	44,323	51,387	49,057	19,697	316	26,843	35,537	23,946	5	11	1,117	5,200	126	43	16	92	2,746	18,848	295	49
Non-recurring financial income`76B`	-	-	69,105	-	738,170	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Financial charges`65/66B`	108,251	132,445	132,737	72,930	81,648	1.0m	92,836	105,451	172,083	162,307	120,601	72,245	108,627	79,391	77,646	39,291	52,507	200,372	80,367	62,581
Recurring financial charges`65`	108,251	132,445	132,737	72,930	81,648	69,957	92,836	105,451	172,083	162,307	120,601	72,245	108,627	79,391	77,646	39,291	52,507	200,372	80,367	62,581
Non-recurring financial charges`66B`	-	-	-	-	-	960,000	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Profit (loss) for the period before taxes`9903`	-26,677	6,539	199,970	221,397	1.4m	-304,863	1.0m	603,342	309,041	643,633	24,109	110,096	441,780	74,424	447,658	268,234	458,163	826,685	149,647	28,128
Income taxes`67/77`	-	1,782	53,367	59,085	299,334	-	316,174	177,772	107,407	221,232	8,287	38,054	428	-	2	-	-	125,582	55,442	10,206
Profit (loss) for the period`9904`	-26,677	4,757	146,603	162,312	1.1m	-304,863	685,918	425,570	201,634	422,401	15,822	72,042	441,352	74,424	447,656	268,234	458,163	701,103	94,205	17,922
Profit (loss) for the period to be appropriated`9905`	-26,677	4,757	146,603	162,312	1.1m	-304,863	685,918	425,570	201,634	422,401	15,822	72,042	441,352	74,424	447,656	268,234	458,163	701,103	94,205	17,922
Appropriation of the result
Profit (loss) to be appropriated`9906`	-26,677	4,757	146,603	162,312	1.1m	-304,863	685,918	425,570	201,634	422,401	15,822	72,042	441,352	74,424	447,656	268,234	458,163	701,103	94,205	17,922
Transfer from equity`791/2`	101,677	70,243	3,397	-	-	454,863	-	-	-	-	-	-	-	-	-	1,766	1,837	-	-	-
Transfer to equity`691/2`	-	-	-	12,312	977,154	-	535,918	275,570	51,634	272,401	15,822	72,042	1,352	424	2,656	-	-	206,531	94,205	17,922
To the legal reserve`6920`	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,489	896
To other reserves`6921`	-	-	-	12,312	977,154	-	535,918	275,570	51,634	272,401	15,822	72,042	1,352	424	2,656	-	-	206,531	91,716	17,026
Profit to be distributed`694/7`	75,000	75,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	-	-	440,000	74,000	445,000	270,000	460,000	494,572	-	-
Return on contributions (dividend)`694`	75,000	75,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	150,000	-	-	-	-	-	-	-	-	-	-
Directors or managers`695`	-	-	-	-	-	-	-	-	-	-	-	-	440,000	74,000	445,000	270,000	460,000	494,572	-	-
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Financial year	Type	Filed	Reference	Document
31-12-2025	full format	31-08-2026	2026-00468396	PDF
31-12-2024	abbreviated format	29-07-2025	2025-00321514	PDF
31-12-2023	abbreviated format	04-07-2024	2024-00211865	PDF
31-12-2022	abbreviated format	10-07-2023	2023-00222416	PDF
31-12-2021	abbreviated format	30-06-2022	2022-20117318	PDF
31-12-2020	abbreviated format	07-07-2021	2021-31600344	PDF
31-12-2019	abbreviated format	21-09-2020	2020-54000509	PDF
31-12-2018	abbreviated format	28-06-2019	2019-24000426	PDF
31-12-2017	abbreviated format	30-07-2018	2018-39300045	PDF
31-12-2016	abbreviated format	23-06-2017	2017-21200213	PDF
31-12-2015	abbreviated format	06-07-2016	2016-27500428	PDF
31-12-2014	abbreviated format	02-04-2015	2015-08500574	PDF
31-12-2013	abbreviated format	04-06-2014	2014-14800353	PDF
31-12-2012	abbreviated format	18-06-2013	2013-18100372	PDF
31-12-2011	abbreviated format	31-07-2012	2012-35700032	PDF
31-12-2010	abbreviated format	11-10-2011	2011-57900104	PDF
31-12-2009	abbreviated format	31-08-2010	2010-48000138	PDF
31-12-2008	abbreviated format	30-07-2009	2009-49600086	PDF
31-12-2007	abbreviated format	21-08-2008	2008-58400259	PDF
31-12-2006	abbreviated format	26-06-2007	2007-30700298	PDF
31-12-2005	abbreviated format	31-05-2006	2006-18200969	PDF
31-12-2004	abbreviated format	14-06-2005	2005-25501743	PDF
31-12-2003	abbreviated format	09-06-2004	2004-22103153	PDF

Line	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006
EBITDA	49,955	100,301	227,249	293,676	788,696	717,298	1.1m	703,820	500,092	819,146	156,297	179,299	-	-	-	-	-	-	-	-
Cash flow	-13,974	17,461	159,307	181,358	1.1m	-285,816	706,477	444,543	220,608	435,619	28,526	74,200	-	-	-	-	-	-	-	-
Investment in fixed assets (approximation)	0	0	-251,716	0	-0	-233,588	272,330	0	0	252,910	0	488,265	-	-	-	-	-	-	-	-
Change in cash	-63,666	-294,447	-45,511	-606,305	562,556	376,647	6,669	-211,370	26,626	156,971	93,022	-78,534	81,837	11,502	-1,592	-60,447	-28,972	-5,379	46,409	-
Working capital	1.9m	2.0m	2.0m	1.8m	1.9m	915,411	1.2m	632,083	360,787	303,227	704,571	-549,993	-135,645	-114,383	-79,260	-78,598	-42,936	14,582	48,317	-437,190
EBIT margin	33.6%	19.9%	73.7%	28.1%	62.8%	61.5%	50.2%	40.2%	36.3%	35.6%	24.7%	47.6%	22.1%	19.7%	16.9%	45.0%	45.9%	43.7%	18.9%	59.5%
Solvency	41.1%	45.3%	43.8%	39.4%	46.7%	32.3%	40.3%	23.3%	17.5%	14.6%	10.6%	25.4%	23.9%	18.4%	24.5%	11.4%	24.2%	23.0%	12.8%	9.2%
Current ratio	1.92	2.08	1.97	1.69	2.16	1.55	1.76	1.21	1.11	1.07	1.20	0.66	0.91	0.95	0.94	0.98	0.97	1.01	1.03	0.75
Quick ratio	0.80	0.73	0.74	0.62	1.18	0.30	0.57	0.27	0.13	0.07	0.08	0.01	0.07	0.14	0.26	0.03	0.22	0.35	0.19	0.05
Debt to equity	1.43	1.21	1.28	1.54	1.14	2.10	1.48	3.29	4.71	5.87	8.41	2.94	3.18	4.44	3.09	7.78	3.13	3.35	6.80	9.84
ROE	-1.3%	0.2%	6.6%	7.3%	50.7%	-24.5%	40.3%	36.6%	22.7%	50.5%	2.8%	13.1%	92.6%	15.7%	94.2%	56.8%	96.6%	147.3%	35.0%	10.2%
ROA	-0.5%	0.1%	2.9%	2.9%	23.7%	-7.9%	16.3%	8.5%	4.0%	7.3%	0.3%	3.3%	22.1%	2.9%	23.0%	6.5%	23.4%	33.9%	4.5%	0.9%
Interest coverage	0.46	0.76	1.71	4.03	9.66	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Customer credit	30 days	361 days	441 days	43 days	34 days	5 days	134 days	3 days	39 days	-	101 days	3 days	-	131 days	43 days	44 days	80 days	64 days	26 days	64 days
Supplier credit	0 days	-	2 days	-	1 day	-	0 days	1 day	-	-	-	-	-	1 day	2 days	8 days	17 days	27 days	21 days	620 days

Item	2025	2024	2023	2022	2021
Debts secured on the company's own assets	€2.5m	€2.2m	€2.4m	€2.7m	€1.4m
Mortgages, amount registered	-	-	-	€127,500	€13.1m
Mortgage mandates	-	-	-	€5.3m	€13.0m
Carrying value of the mortgaged assets	-	-	-	€2.8m	€1.6m

L & D PROJECTS

Annual accounts 2025

Money flows

Balance sheet

Change in equityin €m

Change in cashin euro

Filed annual accounts

Filings

Key figures and ratios

Securities and guarantees

Insights on L & D PROJECTS

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