L&C Projects: what changed
L&C Projects
Largest movements
- Tangible fixed assets +€17,846
up €17,846 (+60.1%), from €29,683 to €47,528
of which Plant, machinery and equipment: +€22,477
- Cash +€17,333
up €17,333 (+398%), from €4,352 to €21,685
mainly Debts after one year (+€19,665) and Trade debts (+€14,527)
- Receivables within one year +€15,949
up €15,949 (+98.7%), from €16,165 to €32,114
of which Trade receivables: +€9,713
- Current investments +€2,500
new in 2025: €2,500
- Debts after one year +€19,665
new in 2025: €19,665
- Trade debts +€14,527
up €14,527 (+117%), from €12,463 to €26,990
- Accrued charges and deferred income +€10,708
new in 2025: €10,708
- Tax, wage and social debts +€3,834
up €3,834 (+125%), from €3,075 to €6,908
- Current portion of long-term debt +€2,780
new in 2025: €2,780
- Gross operating margin -€9,353
down €9,353 (-43.3%), from €21,622 to €12,269
- Depreciation +€3,168
up €3,168 (+68.3%), from €4,641 to €7,809
- Taxes -€3,075
no longer reported in 2025 (was €3,075)
- Financial charges +€875
up €875 (+589%), from €148 to €1,023
- Other operating charges -€608
down €608 (-35.3%), from €1,721 to €1,113
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €50,212 | €103,827 | +€53,615 | +107% |
| Fixed assets | 21/28 | €29,683 | €47,528 | +€17,846 | +60.1% |
| Tangible fixed assets | 22/27 | €29,683 | €47,528 | +€17,846 | +60.1% |
| Plant, machinery and equipment | 23 | €1,370 | €23,847 | +€22,477 | +1,641% |
| Furniture and vehicles | 24 | €28,313 | €23,682 | -€4,631 | -16.4% |
| Current assets | 29/58 | €20,530 | €56,299 | +€35,769 | +174% |
| Amounts receivable within one year | 40/41 | €16,165 | €32,114 | +€15,949 | +98.7% |
| Trade receivables | 40 | €13,733 | €23,446 | +€9,713 | +70.7% |
| Other amounts receivable | 41 | €2,432 | €8,668 | +€6,236 | +256% |
| Current investments | 50/53 | - | €2,500 | +€2,500 | |
| Cash at bank and in hand | 54/58 | €4,352 | €21,685 | +€17,333 | +398% |
| Deferred charges and accrued income | 490/1 | €13 | - | -€13 | |
| Total equity and liabilities | 10/49 | €50,212 | €103,827 | +€53,615 | +107% |
| Equity | 10/15 | €14,434 | €16,534 | +€2,101 | +14.6% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €12,434 | €14,534 | +€2,101 | +16.9% |
| Distributable reserves | 133 | €12,434 | €14,534 | +€2,101 | +16.9% |
| Amounts payable | 17/49 | €35,779 | €87,293 | +€51,514 | +144% |
| Amounts payable after more than one year | 17 | - | €19,665 | +€19,665 | |
| Financial debts | 170/4 | - | €19,665 | +€19,665 | |
| Amounts payable within one year | 42/48 | €35,779 | €56,920 | +€21,141 | +59.1% |
| Current portion of amounts payable after more than one year | 42 | - | €2,780 | +€2,780 | |
| Trade debts | 44 | €12,463 | €26,990 | +€14,527 | +117% |
| Suppliers | 440/4 | €12,463 | €26,990 | +€14,527 | +117% |
| Taxes, remuneration and social security | 45 | €3,075 | €6,908 | +€3,834 | +125% |
| Taxes | 450/3 | €3,075 | €6,908 | +€3,834 | +125% |
| Other amounts payable | 47/48 | €20,242 | €20,242 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €10,708 | +€10,708 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,641 | €7,809 | +€3,168 | +68.3% |
| Other operating charges | 640/8 | €1,721 | €1,113 | -€608 | -35.3% |
| Non-recurring operating charges | 66A | - | €223 | +€223 | |
| Gross operating margin | 9900 | €21,622 | €12,269 | -€9,353 | -43.3% |
| Operating profit (loss) | 9901 | €15,260 | €3,123 | -€12,136 | -79.5% |
| Financial income | 75/76B | €397 | €0 | -€397 | -100.0% |
| Recurring financial income | 75 | €397 | €0 | -€397 | -100.0% |
| Financial charges | 65/66B | €148 | €1,023 | +€875 | +589% |
| Recurring financial charges | 65 | €148 | €1,023 | +€875 | +589% |
| Profit (loss) for the period before taxes | 9903 | €15,508 | €2,101 | -€13,408 | -86.5% |
| Income taxes | 67/77 | €3,075 | - | -€3,075 | |
| Profit (loss) for the period | 9904 | €12,434 | €2,101 | -€10,333 | -83.1% |
| Profit (loss) for the period to be appropriated | 9905 | €12,434 | €2,101 | -€10,333 | -83.1% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.