L & A Projects: 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 Projects
Largest movements
- Tangible fixed assets -€21,708
down €21,708 (-5.5%), from €397,792 to €376,084
of which Land and buildings: -€20,000
- Receivables within one year +€18,988
up €18,988 (+23.5%), from €80,953 to €99,941
of which Trade receivables: +€18,000
- Other debts +€44,871
up €44,871 (+92.5%), from €48,509 to €93,380
- Trade debts -€22,178
down €22,178 (-18.2%), from €121,527 to €99,349
- Debts after one year -€11,001
down €11,001 (-8.4%), from €130,518 to €119,517
- Tax, wage and social debts -€8,775
down €8,775 (-24.0%), from €36,591 to €27,816
of which Taxes: -€8,775
- Profit (loss) carried forward -€6,280
down €6,280 (-5.5%), from €113,568 to €107,287
- Gross operating margin -€339,578
down €339,578 (-94.0%), from €361,314 to €21,736
- Staff costs -€42,975
down €42,975 (-99.8%), from €43,057 to €82
- Taxes -€32,324
no longer reported in 2025 (was €32,324)
- Financial charges -€25,163
down €25,163 (-86.5%), from €29,083 to €3,920
- Depreciation +€14,311
up €14,311 (+193.5%), from €7,398 to €21,708
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.
Cash bridge derived
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 | €482,008 | €478,441 | -€3,567 | -0.7% |
| Fixed assets | 21/28 | €397,792 | €376,084 | -€21,708 | -5.5% |
| Tangible fixed assets | 22/27 | €397,792 | €376,084 | -€21,708 | -5.5% |
| Land and buildings | 22 | €393,934 | €373,934 | -€20,000 | -5.1% |
| Furniture and vehicles | 24 | €3,858 | €2,150 | -€1,708 | -44.3% |
| Current assets | 29/58 | €84,216 | €102,357 | +€18,142 | +21.5% |
| Amounts receivable within one year | 40/41 | €80,953 | €99,941 | +€18,988 | +23.5% |
| Trade receivables | 40 | €80,953 | €98,953 | +€18,000 | +22.2% |
| Other amounts receivable | 41 | - | €988 | +€988 | |
| Cash at bank and in hand | 54/58 | €3,134 | €86 | -€3,048 | -97.3% |
| Deferred charges and accrued income | 490/1 | €129 | €2,331 | +€2,202 | +1707.0% |
| Total equity and liabilities | 10/49 | €482,008 | €478,441 | -€3,567 | -0.7% |
| Equity | 10/15 | €134,019 | €127,739 | -€6,280 | -4.7% |
| Contributions | 10/11 | €18,592 | €18,592 | = | 0.0% |
| Reserves | 13 | €1,859 | €1,859 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,859 | €1,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,859 | €1,859 | = | 0.0% |
| Profit (loss) carried forward | 14 | €113,568 | €107,287 | -€6,280 | -5.5% |
| Amounts payable | 17/49 | €347,989 | €350,703 | +€2,713 | +0.8% |
| Amounts payable after more than one year | 17 | €130,518 | €119,517 | -€11,001 | -8.4% |
| Financial debts | 170/4 | €130,518 | €119,517 | -€11,001 | -8.4% |
| Amounts payable within one year | 42/48 | €217,069 | €231,186 | +€14,116 | +6.5% |
| Current portion of amounts payable after more than one year | 42 | €10,442 | €10,640 | +€198 | +1.9% |
| Trade debts | 44 | €121,527 | €99,349 | -€22,178 | -18.2% |
| Suppliers | 440/4 | €121,527 | €99,349 | -€22,178 | -18.2% |
| Taxes, remuneration and social security | 45 | €36,591 | €27,816 | -€8,775 | -24.0% |
| Taxes | 450/3 | €32,324 | €23,549 | -€8,775 | -27.1% |
| Remuneration and social security | 454/9 | €4,267 | €4,267 | = | 0.0% |
| Other amounts payable | 47/48 | €48,509 | €93,380 | +€44,871 | +92.5% |
| Accrued charges and deferred income | 492/3 | €402 | - | -€402 | |
| Non-recurring operating income | 76A | €7,168 | - | -€7,168 | |
| Remuneration, social security and pensions | 62 | €43,057 | €82 | -€42,975 | -99.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €7,398 | €21,708 | +€14,311 | +193.5% |
| Other operating charges | 640/8 | €3,533 | €2,306 | -€1,227 | -34.7% |
| Gross operating margin | 9900 | €361,314 | €21,736 | -€339,578 | -94.0% |
| Operating profit (loss) | 9901 | €307,326 | -€2,360 | -€309,686 | |
| Financial income | 75/76B | €1,973 | - | -€1,973 | |
| Recurring financial income | 75 | €1,973 | - | -€1,973 | |
| Financial charges | 65/66B | €29,083 | €3,920 | -€25,163 | -86.5% |
| Recurring financial charges | 65 | €29,083 | €3,920 | -€25,163 | -86.5% |
| Profit (loss) for the period before taxes | 9903 | €280,216 | -€6,280 | -€286,496 | |
| Income taxes | 67/77 | €32,324 | - | -€32,324 | |
| Profit (loss) for the period | 9904 | €247,891 | -€6,280 | -€254,172 | |
| Profit (loss) for the period to be appropriated | 9905 | €247,891 | -€6,280 | -€254,172 |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.