L & BROTHERS: 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 & BROTHERS
Largest movements
- Receivables within one year -€99,120
down €99,120 (-78.5%), from €126,240 to €27,120
of which Trade receivables: -€98,747
- Stocks and contracts +€78,080
up €78,080 (+59.4%), from €131,461 to €209,541
- Tangible fixed assets +€21,562
up €21,562 (+46.4%), from €46,457 to €68,020
- Cash -€15,038
down €15,038 (-56.6%), from €26,582 to €11,544
mainly Trade debts (-€85,307) and Stocks and contracts (-€78,080)
- Trade debts -€85,307
down €85,307 (-38.9%), from €219,112 to €133,805
- Profit (loss) carried forward +€49,779
up €49,779 (+401%), from €12,428 to €62,207
- Tax, wage and social debts +€20,603
up €20,603 (+21.1%), from €97,597 to €118,200
of which Taxes: +€21,691
- Gross operating margin +€91,730
up €91,730 (+75.0%), from €122,376 to €214,107
- Staff costs +€26,852
up €26,852 (+33.4%), from €80,401 to €107,254
- Taxes +€15,863
up €15,863 (+573%), from €2,767 to €18,630
- Financial charges +€4,021
up €4,021 (+44.2%), from €9,106 to €13,128
of which Financial charges: +€3,081
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 | €338,537 | €321,711 | -€16,826 | -5.0% |
| Fixed assets | 21/28 | €51,432 | €73,375 | +€21,943 | +42.7% |
| Tangible fixed assets | 22/27 | €46,457 | €68,020 | +€21,562 | +46.4% |
| Furniture and vehicles | 24 | €46,457 | €68,020 | +€21,562 | +46.4% |
| Financial fixed assets | 28 | €4,975 | €5,356 | +€381 | +7.7% |
| Current assets | 29/58 | €287,105 | €248,336 | -€38,768 | -13.5% |
| Stocks and contracts in progress | 3 | €131,461 | €209,541 | +€78,080 | +59.4% |
| Stocks | 30/36 | €131,461 | €209,541 | +€78,080 | +59.4% |
| Amounts receivable within one year | 40/41 | €126,240 | €27,120 | -€99,120 | -78.5% |
| Trade receivables | 40 | €122,234 | €23,487 | -€98,747 | -80.8% |
| Other amounts receivable | 41 | €4,006 | €3,633 | -€373 | -9.3% |
| Cash at bank and in hand | 54/58 | €26,582 | €11,544 | -€15,038 | -56.6% |
| Deferred charges and accrued income | 490/1 | €2,822 | €132 | -€2,690 | -95.3% |
| Total equity and liabilities | 10/49 | €338,537 | €321,711 | -€16,826 | -5.0% |
| Equity | 10/15 | €17,428 | €67,207 | +€49,779 | +286% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €12,428 | €62,207 | +€49,779 | +401% |
| Amounts payable | 17/49 | €321,109 | €254,504 | -€66,604 | -20.7% |
| Amounts payable within one year | 42/48 | €321,109 | €254,504 | -€66,604 | -20.7% |
| Trade debts | 44 | €219,112 | €133,805 | -€85,307 | -38.9% |
| Suppliers | 440/4 | €219,112 | €133,805 | -€85,307 | -38.9% |
| Taxes, remuneration and social security | 45 | €97,597 | €118,200 | +€20,603 | +21.1% |
| Taxes | 450/3 | €21,098 | €42,789 | +€21,691 | +103% |
| Remuneration and social security | 454/9 | €76,499 | €75,411 | -€1,089 | -1.4% |
| Other amounts payable | 47/48 | €4,400 | €2,500 | -€1,900 | -43.2% |
| Remuneration, social security and pensions | 62 | €80,401 | €107,254 | +€26,852 | +33.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,365 | €22,520 | -€1,845 | -7.6% |
| Other operating charges | 640/8 | €1,428 | €2,578 | +€1,150 | +80.5% |
| Non-recurring operating charges | 66A | - | €220 | +€220 | |
| Gross operating margin | 9900 | €122,376 | €214,107 | +€91,730 | +75.0% |
| Operating profit (loss) | 9901 | €16,182 | €81,534 | +€65,352 | +404% |
| Financial income | 75/76B | €57 | €2 | -€55 | -96.4% |
| Recurring financial income | 75 | €57 | €2 | -€55 | -96.4% |
| Financial charges | 65/66B | €9,106 | €13,128 | +€4,021 | +44.2% |
| Recurring financial charges | 65 | €9,106 | €12,188 | +€3,081 | +33.8% |
| Non-recurring financial charges | 66B | - | €940 | +€940 | |
| Profit (loss) for the period before taxes | 9903 | €7,132 | €68,409 | +€61,276 | +859% |
| Income taxes | 67/77 | €2,767 | €18,630 | +€15,863 | +573% |
| Profit (loss) for the period | 9904 | €4,366 | €49,779 | +€45,413 | +1,040% |
| Profit (loss) for the period to be appropriated | 9905 | €4,366 | €49,779 | +€45,413 | +1,040% |
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 25 October 2026 via checked.be.