L.A. ProjectDesign: 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.
L.A. ProjectDesign
Largest movements
- Current investments -€4.0m
down €4.0m (-71.7%), from €5.5m to €1.6m
- Cash +€3.6m
up €3.6m (+454%), from €790,778 to €4.4m
mainly Current investments (+€4.0m) and Net result for the year (+€131,829)
- Tangible fixed assets +€186,248
up €186,248 (+12.7%), from €1.5m to €1.6m
of which Land and buildings: +€101,679
- Tax, wage and social debts -€170,861
down €170,861 (-83.5%), from €204,559 to €33,698
of which Taxes: -€168,482
- Reserves +€131,829
up €131,829 (+2.5%), from €5.3m to €5.5m
of which Distributable reserves: +€131,829
- Debts after one year -€98,307
down €98,307 (-4.5%), from €2.2m to €2.1m
of which Financial debts: -€1.9m
- Financial income -€110,562
down €110,562 (-60.6%), from €182,546 to €71,985
- Staff costs -€31,615
no longer reported in 2025 (was €31,615)
- Other operating charges -€27,587
down €27,587 (-71.1%), from €38,776 to €11,189
- Taxes -€22,721
down €22,721 (-27.8%), from €81,823 to €59,102
- Depreciation +€14,032
up €14,032 (+141%), from €9,942 to €23,974
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 | €7,802,081 | €7,661,581 | -€140,500 | -1.8% |
| Fixed assets | 21/28 | €1,462,017 | €1,648,265 | +€186,248 | +12.7% |
| Tangible fixed assets | 22/27 | €1,462,017 | €1,648,265 | +€186,248 | +12.7% |
| Land and buildings | 22 | €1,437,830 | €1,539,509 | +€101,679 | +7.1% |
| Plant, machinery and equipment | 23 | €1,539 | €10 | -€1,529 | -99.3% |
| Furniture and vehicles | 24 | €22,648 | €108,746 | +€86,098 | +380% |
| Current assets | 29/58 | €6,340,064 | €6,013,315 | -€326,748 | -5.2% |
| Amounts receivable within one year | 40/41 | €37,871 | €67,929 | +€30,059 | +79.4% |
| Trade receivables | 40 | €37,871 | €67,929 | +€30,059 | +79.4% |
| Current investments | 50/53 | €5,510,303 | €1,559,803 | -€4.0m | -71.7% |
| Cash at bank and in hand | 54/58 | €790,778 | €4,383,441 | +€3.6m | +454% |
| Deferred charges and accrued income | 490/1 | €1,112 | €2,142 | +€1,030 | +92.6% |
| Total equity and liabilities | 10/49 | €7,802,081 | €7,661,581 | -€140,500 | -1.8% |
| Equity | 10/15 | €5,340,223 | €5,472,053 | +€131,829 | +2.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €5,321,623 | €5,453,453 | +€131,829 | +2.5% |
| Non-distributable reserves | 130/1 | €1,800 | €1,800 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,800 | €1,800 | = | 0.0% |
| Distributable reserves | 133 | €5,319,823 | €5,451,653 | +€131,829 | +2.5% |
| Amounts payable | 17/49 | €2,461,858 | €2,189,528 | -€272,330 | -11.1% |
| Amounts payable after more than one year | 17 | €2,191,043 | €2,092,736 | -€98,307 | -4.5% |
| Financial debts | 170/4 | €2,191,043 | €292,736 | -€1.9m | -86.6% |
| Other amounts payable | 178/9 | - | €1,800,000 | +€1.8m | |
| Amounts payable within one year | 42/48 | €270,815 | €96,792 | -€174,023 | -64.3% |
| Current portion of amounts payable after more than one year | 42 | €54,366 | €55,091 | +€725 | +1.3% |
| Trade debts | 44 | €10,881 | €7,452 | -€3,429 | -31.5% |
| Suppliers | 440/4 | €10,881 | €7,452 | -€3,429 | -31.5% |
| Taxes, remuneration and social security | 45 | €204,559 | €33,698 | -€170,861 | -83.5% |
| Taxes | 450/3 | €202,179 | €33,698 | -€168,482 | -83.3% |
| Remuneration and social security | 454/9 | €2,380 | - | -€2,380 | |
| Other amounts payable | 47/48 | €1,009 | €552 | -€458 | -45.3% |
| Remuneration, social security and pensions | 62 | €31,615 | - | -€31,615 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,942 | €23,974 | +€14,032 | +141% |
| Other operating charges | 640/8 | €38,776 | €11,189 | -€27,587 | -71.1% |
| Gross operating margin | 9900 | €167,541 | €173,542 | +€6,001 | +3.6% |
| Operating profit (loss) | 9901 | €87,208 | €138,379 | +€51,171 | +58.7% |
| Financial income | 75/76B | €182,546 | €71,985 | -€110,562 | -60.6% |
| Recurring financial income | 75 | €182,546 | €71,985 | -€110,562 | -60.6% |
| Financial charges | 65/66B | €17,996 | €19,433 | +€1,436 | +8.0% |
| Recurring financial charges | 65 | €14,846 | €19,433 | +€4,587 | +30.9% |
| Non-recurring financial charges | 66B | €3,151 | - | -€3,151 | |
| Profit (loss) for the period before taxes | 9903 | €251,758 | €190,931 | -€60,827 | -24.2% |
| Income taxes | 67/77 | €81,823 | €59,102 | -€22,721 | -27.8% |
| Profit (loss) for the period | 9904 | €169,935 | €131,829 | -€38,106 | -22.4% |
| Profit (loss) for the period to be appropriated | 9905 | €169,935 | €131,829 | -€38,106 | -22.4% |
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 15 October 2026 via checked.be.