L & E INVEST: 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 & E INVEST
Largest movements
- Cash -€462,750
down €462,750 (-70.6%), from €655,507 to €192,757
mainly Short-term financial debts (-€600,000) and Current investments (-€400,000)
- Current investments +€400,000
up €400,000, from €0 to €400,000
- Deferred charges and accrued income +€75,000
up €75,000 (+55.6%), from €135,000 to €210,000
- Tangible fixed assets -€58,012
down €58,012 (-75.9%), from €76,387 to €18,376
of which Furniture and vehicles: -€39,761
- Debts after one year +€600,000
up €600,000 (+15.4%), from €3.9m to €4.5m
- Short-term financial debts -€600,000
down €600,000 (-100%), from €600,000 to €0
- Other operating charges +€55,090
up €55,090 (+3,129%), from €1,761 to €56,851
- Gross operating margin +€35,483
up €35,483 (+22.4%), from €158,284 to €193,767
- Financial charges +€25,138
up €25,138 (+1,320%), from €1,905 to €27,043
- Taxes -€23,133
down €23,133 (-27.1%), from €85,355 to €62,222
- Financial income -€18,000
down €18,000 (-11.8%), from €153,000 to €135,000
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 | €5,388,150 | €5,367,045 | -€21,105 | -0.4% |
| Fixed assets | 21/28 | €76,387 | €18,376 | -€58,012 | -75.9% |
| Tangible fixed assets | 22/27 | €76,387 | €18,376 | -€58,012 | -75.9% |
| Furniture and vehicles | 24 | €58,137 | €18,376 | -€39,761 | -68.4% |
| Other tangible fixed assets | 26 | €18,250 | €0 | -€18,250 | -100% |
| Current assets | 29/58 | €5,311,763 | €5,348,669 | +€36,906 | +0.7% |
| Amounts receivable after more than one year | 29 | €4,500,000 | €4,500,000 | = | 0.0% |
| Other amounts receivable | 291 | €4,500,000 | €4,500,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €21,256 | €45,912 | +€24,657 | +116% |
| Trade receivables | 40 | €21,256 | €45,912 | +€24,657 | +116% |
| Current investments | 50/53 | €0 | €400,000 | +€400,000 | |
| Cash at bank and in hand | 54/58 | €655,507 | €192,757 | -€462,750 | -70.6% |
| Deferred charges and accrued income | 490/1 | €135,000 | €210,000 | +€75,000 | +55.6% |
| Total equity and liabilities | 10/49 | €5,388,150 | €5,367,045 | -€21,105 | -0.4% |
| Equity | 10/15 | €633,746 | €637,544 | +€3,797 | +0.6% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €630,746 | €634,544 | +€3,797 | +0.6% |
| Distributable reserves | 133 | €630,746 | €634,544 | +€3,797 | +0.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €4,754,404 | €4,729,501 | -€24,903 | -0.5% |
| Amounts payable after more than one year | 17 | €3,907,891 | €4,507,891 | +€600,000 | +15.4% |
| Other amounts payable | 178/9 | €3,907,891 | €4,507,891 | +€600,000 | +15.4% |
| Amounts payable within one year | 42/48 | €844,197 | €220,043 | -€624,154 | -73.9% |
| Financial debts | 43 | €600,000 | €0 | -€600,000 | -100% |
| Other loans | 439 | €600,000 | €0 | -€600,000 | -100% |
| Trade debts | 44 | €4,975 | €7,535 | +€2,560 | +51.5% |
| Suppliers | 440/4 | €4,975 | €7,535 | +€2,560 | +51.5% |
| Taxes, remuneration and social security | 45 | €31,380 | €36,953 | +€5,573 | +17.8% |
| Taxes | 450/3 | €31,380 | €36,953 | +€5,573 | +17.8% |
| Other amounts payable | 47/48 | €207,841 | €175,555 | -€32,286 | -15.5% |
| Accrued charges and deferred income | 492/3 | €2,316 | €1,567 | -€749 | -32.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €14,824 | €8,854 | -€5,970 | -40.3% |
| Other operating charges | 640/8 | €1,761 | €56,851 | +€55,090 | +3,129% |
| Gross operating margin | 9900 | €158,284 | €193,767 | +€35,483 | +22.4% |
| Operating profit (loss) | 9901 | €141,699 | €128,062 | -€13,637 | -9.6% |
| Financial income | 75/76B | €153,000 | €135,000 | -€18,000 | -11.8% |
| Recurring financial income | 75 | €153,000 | €135,000 | -€18,000 | -11.8% |
| Financial charges | 65/66B | €1,905 | €27,043 | +€25,138 | +1,320% |
| Recurring financial charges | 65 | €1,905 | €27,043 | +€25,138 | +1,320% |
| Profit (loss) for the period before taxes | 9903 | €292,794 | €236,020 | -€56,775 | -19.4% |
| Income taxes | 67/77 | €85,355 | €62,222 | -€23,133 | -27.1% |
| Profit (loss) for the period | 9904 | €207,439 | €173,797 | -€33,642 | -16.2% |
| Profit (loss) for the period to be appropriated | 9905 | €207,439 | €173,797 | -€33,642 | -16.2% |
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 15 October 2026 via checked.be.