L-CONSTRUCT: 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-CONSTRUCT
Largest movements
- Cash -€30,865
down €30,865 (-50.1%), from €61,647 to €30,782
mainly Investment in fixed assets (net) (-€46,494) and Debts after one year (-€36,052)
- Debts after one year -€36,052
down €36,052 (-5.3%), from €682,697 to €646,646
of which Financial debts: -€36,052
- Gross operating margin -€48,761
down €48,761 (-44.3%), from €109,963 to €61,202
- Other operating charges +€2,094
up €2,094 (+24.5%), from €8,559 to €10,653
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 | €736,320 | €702,328 | -€33,991 | -4.6% |
| Fixed assets | 21/28 | €673,778 | €670,553 | -€3,224 | -0.5% |
| Tangible fixed assets | 22/27 | €673,778 | €670,553 | -€3,224 | -0.5% |
| Land and buildings | 22 | €672,147 | €669,486 | -€2,660 | -0.4% |
| Plant, machinery and equipment | 23 | €1,631 | €1,067 | -€564 | -34.6% |
| Current assets | 29/58 | €62,542 | €31,775 | -€30,767 | -49.2% |
| Amounts receivable within one year | 40/41 | €93 | €188 | +€95 | +103% |
| Other amounts receivable | 41 | €93 | €188 | +€95 | +103% |
| Cash at bank and in hand | 54/58 | €61,647 | €30,782 | -€30,865 | -50.1% |
| Deferred charges and accrued income | 490/1 | €802 | €804 | +€2 | +0.3% |
| Total equity and liabilities | 10/49 | €736,320 | €702,328 | -€33,991 | -4.6% |
| Equity | 10/15 | -€14,037 | -€16,764 | -€2,727 | -19.4% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€64,037 | -€66,764 | -€2,727 | -4.3% |
| Amounts payable | 17/49 | €750,357 | €719,092 | -€31,265 | -4.2% |
| Amounts payable after more than one year | 17 | €682,697 | €646,646 | -€36,052 | -5.3% |
| Financial debts | 170/4 | €202,697 | €166,646 | -€36,052 | -17.8% |
| Other amounts payable | 178/9 | €480,000 | €480,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €66,442 | €72,447 | +€6,005 | +9.0% |
| Current portion of amounts payable after more than one year | 42 | €35,497 | €36,052 | +€555 | +1.6% |
| Trade debts | 44 | €1,356 | €3,986 | +€2,630 | +194% |
| Suppliers | 440/4 | €1,356 | €3,986 | +€2,630 | +194% |
| Other amounts payable | 47/48 | €29,589 | €32,409 | +€2,820 | +9.5% |
| Accrued charges and deferred income | 492/3 | €1,218 | €0 | -€1,218 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,005 | €49,718 | +€713 | +1.5% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | - | = | |
| Other operating charges | 640/8 | €8,559 | €10,653 | +€2,094 | +24.5% |
| Gross operating margin | 9900 | €109,963 | €61,202 | -€48,761 | -44.3% |
| Operating profit (loss) | 9901 | €52,399 | €831 | -€51,568 | -98.4% |
| Financial income | 75/76B | €310 | €318 | +€7 | +2.3% |
| Recurring financial income | 75 | €310 | €318 | +€7 | +2.3% |
| Financial charges | 65/66B | €4,504 | €3,876 | -€629 | -14.0% |
| Recurring financial charges | 65 | €4,504 | €3,876 | -€629 | -14.0% |
| Profit (loss) for the period before taxes | 9903 | €48,205 | -€2,727 | -€50,932 | |
| Profit (loss) for the period | 9904 | €48,205 | -€2,727 | -€50,932 | |
| Profit (loss) for the period to be appropriated | 9905 | €48,205 | -€2,727 | -€50,932 |
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 13 October 2026 via checked.be.