3L MANAGEMENT: 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.
3L MANAGEMENT
Largest movements
- Current investments +€180,939
up €180,939 (+41.1%), from €439,740 to €620,679
- Tangible fixed assets -€33,035
down €33,035 (-3.9%), from €839,753 to €806,718
of which Land and buildings: -€43,936
- Receivables within one year -€20,779
down €20,779 (-38.2%), from €54,351 to €33,571
of which Other amounts receivable: -€19,638
- Other debts +€133,671
up €133,671 (+105%), from €127,860 to €261,530
- Tax, wage and social debts +€35,600
up €35,600 (+154%), from €23,145 to €58,745
of which Taxes: +€37,768
- Current portion of long-term debt -€30,000
down €30,000 (-74.6%), from €40,200 to €10,200
- Gross operating margin -€110,683
down €110,683 (-31.5%), from €351,531 to €240,848
- Taxes -€34,068
down €34,068 (-38.8%), from €87,841 to €53,773
- Depreciation -€14,779
down €14,779 (-21.3%), from €69,250 to €54,471
- Financial charges +€9,438
up €9,438 (+77.0%), from €12,257 to €21,695
- Other operating charges +€4,423
up €4,423 (+38.1%), from €11,598 to €16,021
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,354,939 | €1,493,587 | +€138,648 | +10.2% |
| Fixed assets | 21/28 | €839,753 | €806,718 | -€33,035 | -3.9% |
| Tangible fixed assets | 22/27 | €839,753 | €806,718 | -€33,035 | -3.9% |
| Land and buildings | 22 | €821,351 | €777,415 | -€43,936 | -5.3% |
| Plant, machinery and equipment | 23 | €3,472 | €2,248 | -€1,224 | -35.3% |
| Furniture and vehicles | 24 | €14,930 | €27,055 | +€12,125 | +81.2% |
| Current assets | 29/58 | €515,186 | €686,869 | +€171,683 | +33.3% |
| Amounts receivable within one year | 40/41 | €54,351 | €33,571 | -€20,779 | -38.2% |
| Trade receivables | 40 | €27,623 | €26,481 | -€1,141 | -4.1% |
| Other amounts receivable | 41 | €26,728 | €7,090 | -€19,638 | -73.5% |
| Current investments | 50/53 | €439,740 | €620,679 | +€180,939 | +41.1% |
| Cash at bank and in hand | 54/58 | €16,937 | €28,438 | +€11,501 | +67.9% |
| Deferred charges and accrued income | 490/1 | €4,159 | €4,182 | +€23 | +0.6% |
| Total equity and liabilities | 10/49 | €1,354,939 | €1,493,587 | +€138,648 | +10.2% |
| Equity | 10/15 | €666,171 | €664,898 | -€1,274 | -0.2% |
| Contributions | 10/11 | €30,000 | €30,000 | = | 0.0% |
| Reserves | 13 | €636,171 | €634,898 | -€1,274 | -0.2% |
| Distributable reserves | 133 | €636,171 | €634,898 | -€1,274 | -0.2% |
| Amounts payable | 17/49 | €688,768 | €828,689 | +€139,922 | +20.3% |
| Amounts payable after more than one year | 17 | €492,021 | €481,821 | -€10,200 | -2.1% |
| Financial debts | 170/4 | €492,021 | €481,821 | -€10,200 | -2.1% |
| Amounts payable within one year | 42/48 | €194,923 | €334,575 | +€139,653 | +71.6% |
| Current portion of amounts payable after more than one year | 42 | €40,200 | €10,200 | -€30,000 | -74.6% |
| Trade debts | 44 | €3,718 | €4,100 | +€382 | +10.3% |
| Suppliers | 440/4 | €3,718 | €4,100 | +€382 | +10.3% |
| Taxes, remuneration and social security | 45 | €23,145 | €58,745 | +€35,600 | +154% |
| Taxes | 450/3 | €19,477 | €57,245 | +€37,768 | +194% |
| Remuneration and social security | 454/9 | €3,668 | €1,500 | -€2,168 | -59.1% |
| Other amounts payable | 47/48 | €127,860 | €261,530 | +€133,671 | +105% |
| Accrued charges and deferred income | 492/3 | €1,824 | €12,293 | +€10,469 | +574% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €69,250 | €54,471 | -€14,779 | -21.3% |
| Other operating charges | 640/8 | €11,598 | €16,021 | +€4,423 | +38.1% |
| Non-recurring operating charges | 66A | - | €416 | +€416 | |
| Gross operating margin | 9900 | €351,531 | €240,848 | -€110,683 | -31.5% |
| Operating profit (loss) | 9901 | €270,682 | €169,940 | -€100,743 | -37.2% |
| Financial income | 75/76B | €10,403 | €6,086 | -€4,317 | -41.5% |
| Recurring financial income | 75 | €10,403 | €6,086 | -€4,317 | -41.5% |
| Financial charges | 65/66B | €12,257 | €21,695 | +€9,438 | +77.0% |
| Recurring financial charges | 65 | €12,257 | €21,695 | +€9,438 | +77.0% |
| Profit (loss) for the period before taxes | 9903 | €268,829 | €154,331 | -€114,497 | -42.6% |
| Income taxes | 67/77 | €87,841 | €53,773 | -€34,068 | -38.8% |
| Profit (loss) for the period | 9904 | €180,988 | €100,559 | -€80,429 | -44.4% |
| Profit (loss) for the period to be appropriated | 9905 | €180,988 | €100,559 | -€80,429 | -44.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 23 October 2026 via checked.be.