L D IMMO: 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 D IMMO
Largest movements
- Tangible fixed assets -€4.2m
down €4.2m (-52.0%), from €8.1m to €3.9m
of which Land and buildings: -€4.7m
- Cash +€681,152
up €681,152 (+22027.4%), from €3,092 to €684,244
mainly Investment in fixed assets (net) (+€3.9m) and Short-term financial debts (+€1.1m)
- Financial fixed assets +€157,478
up €157,478 (+4.8%), from €3.3m to €3.4m
- Receivables within one year -€152,506
down €152,506 (-15.3%), from €995,437 to €842,930
of which Trade receivables: -€232,123
- Debts after one year -€3.6m
down €3.6m (-54.8%), from €6.5m to €3.0m
of which Financial debts: -€3.6m
- Revaluation surpluses -€1.8m
down €1.8m (-92.4%), from €1.9m to €144,885
- Short-term financial debts +€1.1m
up €1.1m (+56.9%), from €2.0m to €3.2m
- Reserves +€785,045
up €785,045 (+96.2%), from €815,633 to €1.6m
of which Tax-exempt reserves: +€790,347
- Other debts -€672,352
down €672,352 (-55.2%), from €1.2m to €544,654
- Gross operating margin +€765,048
up €765,048 (+97.3%), from €786,488 to €1.6m
- Other operating charges -€179,721
down €179,721 (-77.2%), from €232,925 to €53,204
- Depreciation -€161,730
down €161,730 (-47.4%), from €341,347 to €179,616
- Financial income -€91,600
down €91,600 (-100.0%), from €91,604 to €4
- Write-downs -€30,796
down €30,796 (-91.7%), from €33,587 to €2,791
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 | €13,012,686 | €9,495,823 | -€3.5m | -27.0% |
| Fixed assets | 21/28 | €11,336,205 | €7,292,163 | -€4.0m | -35.7% |
| Tangible fixed assets | 22/27 | €8,074,205 | €3,872,684 | -€4.2m | -52.0% |
| Land and buildings | 22 | €6,942,681 | €2,246,173 | -€4.7m | -67.6% |
| Plant, machinery and equipment | 23 | €1,119,269 | €1,613,560 | +€494,292 | +44.2% |
| Furniture and vehicles | 24 | €2,278 | €2,973 | +€695 | +30.5% |
| Other tangible fixed assets | 26 | €9,978 | €9,978 | = | 0.0% |
| Financial fixed assets | 28 | €3,262,000 | €3,419,478 | +€157,478 | +4.8% |
| Current assets | 29/58 | €1,676,481 | €2,203,661 | +€527,179 | +31.4% |
| Stocks and contracts in progress | 3 | €668,303 | €674,803 | +€6,500 | +1.0% |
| Stocks | 30/36 | €668,303 | €674,803 | +€6,500 | +1.0% |
| Amounts receivable within one year | 40/41 | €995,437 | €842,930 | -€152,506 | -15.3% |
| Trade receivables | 40 | €248,828 | €16,706 | -€232,123 | -93.3% |
| Other amounts receivable | 41 | €746,608 | €826,225 | +€79,616 | +10.7% |
| Cash at bank and in hand | 54/58 | €3,092 | €684,244 | +€681,152 | +22027.4% |
| Deferred charges and accrued income | 490/1 | €9,650 | €1,683 | -€7,966 | -82.6% |
| Total equity and liabilities | 10/49 | €13,012,686 | €9,495,823 | -€3.5m | -27.0% |
| Equity | 10/15 | €2,679,042 | €1,557,542 | -€1.1m | -41.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €1,918,362 | €144,885 | -€1.8m | -92.4% |
| Reserves | 13 | €815,633 | €1,600,679 | +€785,045 | +96.2% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €790,347 | +€790,347 | |
| Distributable reserves | 133 | €813,773 | €808,471 | -€5,302 | -0.7% |
| Profit (loss) carried forward | 14 | -€73,553 | -€206,621 | -€133,068 | -180.9% |
| Provisions and deferred taxes | 16 | - | €263,449 | +€263,449 | |
| Deferred taxes | 168 | - | €263,449 | +€263,449 | |
| Amounts payable | 17/49 | €10,333,645 | €7,674,832 | -€2.7m | -25.7% |
| Amounts payable after more than one year | 17 | €6,529,559 | €2,950,907 | -€3.6m | -54.8% |
| Financial debts | 170/4 | €6,509,979 | €2,947,492 | -€3.6m | -54.7% |
| Other amounts payable | 178/9 | €19,580 | €3,415 | -€16,165 | -82.6% |
| Amounts payable within one year | 42/48 | €3,758,327 | €4,278,539 | +€520,212 | +13.8% |
| Current portion of amounts payable after more than one year | 42 | €315,569 | €111,481 | -€204,088 | -64.7% |
| Financial debts | 43 | €2,007,865 | €3,150,000 | +€1.1m | +56.9% |
| Credit institutions | 430/8 | €2,007,865 | €3,150,000 | +€1.1m | +56.9% |
| Trade debts | 44 | €213,203 | €454,318 | +€241,115 | +113.1% |
| Suppliers | 440/4 | €213,203 | €454,318 | +€241,115 | +113.1% |
| Advances received on contracts in progress | 46 | - | €16,940 | +€16,940 | |
| Taxes, remuneration and social security | 45 | €4,684 | €1,146 | -€3,538 | -75.5% |
| Taxes | 450/3 | €4,684 | €1,146 | -€3,538 | -75.5% |
| Other amounts payable | 47/48 | €1,217,006 | €544,654 | -€672,352 | -55.2% |
| Accrued charges and deferred income | 492/3 | €45,759 | €445,387 | +€399,628 | +873.3% |
| Non-recurring operating income | 76A | €199,524 | €1,118,645 | +€919,120 | +460.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €341,347 | €179,616 | -€161,730 | -47.4% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €33,587 | €2,791 | -€30,796 | -91.7% |
| Other operating charges | 640/8 | €232,925 | €53,204 | -€179,721 | -77.2% |
| Gross operating margin | 9900 | €786,488 | €1,551,536 | +€765,048 | +97.3% |
| Operating profit (loss) | 9901 | €178,629 | €1,315,925 | +€1.1m | +636.7% |
| Financial income | 75/76B | €91,604 | €4 | -€91,600 | -100.0% |
| Recurring financial income | 75 | €91,604 | €4 | -€91,600 | -100.0% |
| Financial charges | 65/66B | €415,584 | €407,028 | -€8,555 | -2.1% |
| Recurring financial charges | 65 | €415,584 | €407,028 | -€8,555 | -2.1% |
| Profit (loss) for the period before taxes | 9903 | -€145,350 | €908,900 | +€1.1m | |
| Transfer to deferred taxes | 680 | - | €263,449 | +€263,449 | |
| Income taxes | 67/77 | €2 | €1 | -€1 | -51.1% |
| Profit (loss) for the period | 9904 | -€145,353 | €645,450 | +€790,802 | |
| Transfer to tax-exempt reserves | 689 | - | €790,347 | +€790,347 | |
| Profit (loss) for the period to be appropriated | 9905 | -€145,353 | -€144,897 | +€455 | +0.3% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 11 October 2026 via checked.be.