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
- Receivables within one year -€254,627
down €254,627 (-61.3%), from €415,138 to €160,511
of which Trade receivables: -€230,595
- Cash -€98,681
down €98,681 (-82.3%), from €119,835 to €21,154
mainly Other debts (-€266,864) and Trade debts (-€67,349)
- Stocks and contracts +€15,042
up €15,042 (+1775.9%), from €847 to €15,889
- Tangible fixed assets +€7,787
up €7,787 (+198.3%), from €3,926 to €11,713
- Other debts -€266,864
no longer reported in 2026 (was €266,864)
- Trade debts -€67,349
down €67,349 (-35.4%), from €190,353 to €123,004
- Financial income +€5,814
up €5,814 (+351.5%), from €1,654 to €7,468
- Depreciation +€3,097
up €3,097 (+137.8%), from €2,248 to €5,345
- Write-downs +€2,798
new in 2026: €2,798
- Financial charges -€1,424
down €1,424 (-87.6%), from €1,626 to €202
- Gross operating margin -€1,005
down €1,005 (-8.9%), from €11,332 to €10,327
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €539,746 | €209,267 | -€330,479 | -61.2% |
| Fixed assets | 21/28 | €3,926 | €11,713 | +€7,787 | +198.3% |
| Tangible fixed assets | 22/27 | €3,926 | €11,713 | +€7,787 | +198.3% |
| Plant, machinery and equipment | 23 | €3,926 | €11,713 | +€7,787 | +198.3% |
| Current assets | 29/58 | €535,820 | €197,554 | -€338,266 | -63.1% |
| Stocks and contracts in progress | 3 | €847 | €15,889 | +€15,042 | +1775.9% |
| Stocks | 30/36 | €847 | €15,889 | +€15,042 | +1775.9% |
| Amounts receivable within one year | 40/41 | €415,138 | €160,511 | -€254,627 | -61.3% |
| Trade receivables | 40 | €364,567 | €133,972 | -€230,595 | -63.3% |
| Other amounts receivable | 41 | €50,571 | €26,539 | -€24,032 | -47.5% |
| Cash at bank and in hand | 54/58 | €119,835 | €21,154 | -€98,681 | -82.3% |
| Total equity and liabilities | 10/49 | €539,746 | €209,267 | -€330,479 | -61.2% |
| Equity | 10/15 | €80,328 | €85,723 | +€5,395 | +6.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Capital | 10 | €18,550 | €18,550 | = | 0.0% |
| Issued capital | 100 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €61,778 | €67,173 | +€5,395 | +8.7% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Legal reserve | 130 | €1,855 | €1,855 | = | 0.0% |
| Distributable reserves | 133 | €59,923 | €65,318 | +€5,395 | +9.0% |
| Amounts payable | 17/49 | €459,418 | €123,544 | -€335,874 | -73.1% |
| Amounts payable within one year | 42/48 | €459,418 | €123,544 | -€335,874 | -73.1% |
| Trade debts | 44 | €190,353 | €123,004 | -€67,349 | -35.4% |
| Suppliers | 440/4 | €190,353 | €123,004 | -€67,349 | -35.4% |
| Taxes, remuneration and social security | 45 | €2,201 | €540 | -€1,661 | -75.5% |
| Taxes | 450/3 | €2,201 | €540 | -€1,661 | -75.5% |
| Other amounts payable | 47/48 | €266,864 | - | -€266,864 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,248 | €5,345 | +€3,097 | +137.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €2,798 | +€2,798 | |
| Other operating charges | 640/8 | €891 | €1,788 | +€897 | +100.7% |
| Gross operating margin | 9900 | €11,332 | €10,327 | -€1,005 | -8.9% |
| Operating profit (loss) | 9901 | €8,193 | €396 | -€7,797 | -95.2% |
| Financial income | 75/76B | €1,654 | €7,468 | +€5,814 | +351.5% |
| Recurring financial income | 75 | €1,654 | €7,468 | +€5,814 | +351.5% |
| Financial charges | 65/66B | €1,626 | €202 | -€1,424 | -87.6% |
| Recurring financial charges | 65 | €1,626 | €202 | -€1,424 | -87.6% |
| Profit (loss) for the period before taxes | 9903 | €8,221 | €7,662 | -€559 | -6.8% |
| Income taxes | 67/77 | €2,201 | €2,267 | +€66 | +3.0% |
| Profit (loss) for the period | 9904 | €6,020 | €5,395 | -€625 | -10.4% |
| Profit (loss) for the period to be appropriated | 9905 | €6,020 | €5,395 | -€625 | -10.4% |
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.