L Estate: 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.
What changed
L Estate
NACE 16.230, Manufacture of other builders' carpentry and joinery
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€62,742
2024 · €871,705-€808,963
Equity
€2.8m
2024 · €2.8m+€8,685
Cash
€2,407
2024 · €38,104-€35,698
Balance sheet total
€6.4m
2024 · €6.3m+€131,519
Largest movements
Assets
- Current investments -€400,000
down €400,000 (-100.0%), from €400,000 to €0
- Tangible fixed assets +€354,746
up €354,746 (+6.4%), from €5.5m to €5.9m
of which Land and buildings: +€370,907
- Stocks and contracts +€200,590
new in 2025: €200,590
Equity and liabilities
- Other debts +€149,465
up €149,465 (+251.5%), from €59,424 to €208,889
- Revaluation surpluses +€85,668
up €85,668 (+5.9%), from €1.5m to €1.5m
- Reserves -€76,983
down €76,983 (-5.9%), from €1.3m to €1.2m
of which Distributable reserves: -€59,131
Income statement
- Gross operating margin -€1.0m
down €1.0m (-74.3%), from €1.4m to €361,778
- Depreciation +€25,475
up €25,475 (+23.4%), from €109,033 to €134,509
- Other operating charges +€17,899
up €17,899 (+33.2%), from €53,880 to €71,779
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.
Result 2024
€871,705
Gross operating margin
-€1.0m
Depreciation
-€25,475
Other operating charges
-€17,899
Other operating items
+€886
Financial income
+€10,040
Financial charges
-€2,378
Taxes
-€9,541
Deferred taxes and other
+€278,894
Result 2025
€62,742
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.
From operations
+€134,085
Investment
-€90,255
Financing
-€79,528
Cash 2024
€38,104
From operations (derived)
+€134,085
Net result for the year
+€62,742
Depreciation
+€134,509
Receivables after one year
+€55,093
Stocks and contracts
-€200,590
Receivables within one year
-€49,687
Deferred charges and accrued income
-€16,287
Provisions
-€13,920
Smaller working-capital items
-€243
Tax, wage and social debts
+€13,002
Other debts
+€149,465
Investment (derived)
-€90,255
Investment in fixed assets (net)
-€490,255
Current investments
+€400,000
Financing
-€79,528
Debts after one year
-€63,361
Current portion of long-term debt
+€37,882
Short-term financial debts
+€8
Contributions, distributions and other
-€54,057
Cash 2025
€2,407
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,289,919 | €6,421,438 | +€131,519 | +2.1% |
| Fixed assets | 21/28 | €5,536,860 | €5,892,606 | +€355,746 | +6.4% |
| Tangible fixed assets | 22/27 | €5,536,860 | €5,891,606 | +€354,746 | +6.4% |
| Land and buildings | 22 | €5,479,353 | €5,850,260 | +€370,907 | +6.8% |
| Furniture and vehicles | 24 | €56,647 | €40,701 | -€15,946 | -28.1% |
| Other tangible fixed assets | 26 | €859 | €644 | -€215 | -25.0% |
| Financial fixed assets | 28 | - | €1,000 | +€1,000 | |
| Current assets | 29/58 | €753,059 | €528,832 | -€224,227 | -29.8% |
| Amounts receivable after more than one year | 29 | €215,819 | €160,726 | -€55,093 | -25.5% |
| Other amounts receivable | 291 | €215,819 | €160,726 | -€55,093 | -25.5% |
| Stocks and contracts in progress | 3 | - | €200,590 | +€200,590 | |
| Stocks | 30/36 | - | €200,590 | +€200,590 | |
| Amounts receivable within one year | 40/41 | €95,110 | €144,796 | +€49,687 | +52.2% |
| Trade receivables | 40 | €86,911 | €85,262 | -€1,649 | -1.9% |
| Other amounts receivable | 41 | €8,199 | €59,535 | +€51,336 | +626.1% |
| Current investments | 50/53 | €400,000 | €0 | -€400,000 | -100.0% |
| Cash at bank and in hand | 54/58 | €38,104 | €2,407 | -€35,698 | -93.7% |
| Deferred charges and accrued income | 490/1 | €4,026 | €20,313 | +€16,287 | +404.5% |
| Total equity and liabilities | 10/49 | €6,289,919 | €6,421,438 | +€131,519 | +2.1% |
| Equity | 10/15 | €2,788,860 | €2,797,545 | +€8,685 | +0.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €1,453,108 | €1,538,776 | +€85,668 | +5.9% |
| Reserves | 13 | €1,302,475 | €1,225,492 | -€76,983 | -5.9% |
| Tax-exempt reserves | 132 | €938,444 | €920,592 | -€17,852 | -1.9% |
| Distributable reserves | 133 | €364,031 | €304,900 | -€59,131 | -16.2% |
| Profit (loss) carried forward | 14 | €14,677 | €14,677 | = | 0.0% |
| Provisions and deferred taxes | 16 | €458,586 | €444,666 | -€13,920 | -3.0% |
| Provisions for liabilities and charges | 160/5 | €145,771 | €137,802 | -€7,969 | -5.5% |
| Other liabilities and charges | 164/5 | €145,771 | €137,802 | -€7,969 | -5.5% |
| Deferred taxes | 168 | €312,815 | €306,864 | -€5,951 | -1.9% |
| Amounts payable | 17/49 | €3,042,473 | €3,179,227 | +€136,754 | +4.5% |
| Amounts payable after more than one year | 17 | €2,773,313 | €2,709,952 | -€63,361 | -2.3% |
| Financial debts | 170/4 | €2,773,313 | €2,709,952 | -€63,361 | -2.3% |
| Amounts payable within one year | 42/48 | €265,481 | €466,546 | +€201,065 | +75.7% |
| Current portion of amounts payable after more than one year | 42 | €188,564 | €226,446 | +€37,882 | +20.1% |
| Financial debts | 43 | - | €8 | +€8 | |
| Credit institutions | 430/8 | - | €8 | +€8 | |
| Trade debts | 44 | €6,410 | €7,118 | +€708 | +11.0% |
| Suppliers | 440/4 | €6,410 | €7,118 | +€708 | +11.0% |
| Taxes, remuneration and social security | 45 | €11,083 | €24,085 | +€13,002 | +117.3% |
| Taxes | 450/3 | €6,725 | €24,085 | +€17,360 | +258.2% |
| Remuneration and social security | 454/9 | €4,358 | €0 | -€4,358 | -100.0% |
| Other amounts payable | 47/48 | €59,424 | €208,889 | +€149,465 | +251.5% |
| Accrued charges and deferred income | 492/3 | €3,678 | €2,728 | -€950 | -25.8% |
| Non-recurring operating income | 76A | €1,188,047 | €105,854 | -€1.1m | -91.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €109,033 | €134,509 | +€25,475 | +23.4% |
| Other operating charges | 640/8 | €53,880 | €71,779 | +€17,899 | +33.2% |
| Non-recurring operating charges | 66A | €886 | €0 | -€886 | -100.0% |
| Gross operating margin | 9900 | €1,405,268 | €361,778 | -€1.0m | -74.3% |
| Operating profit (loss) | 9901 | €1,241,469 | €155,490 | -€1.1m | -87.5% |
| Financial income | 75/76B | €7,036 | €17,076 | +€10,040 | +142.7% |
| Recurring financial income | 75 | €7,036 | €17,076 | +€10,040 | +142.7% |
| Financial charges | 65/66B | €79,866 | €82,244 | +€2,378 | +3.0% |
| Recurring financial charges | 65 | €79,866 | €82,244 | +€2,378 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €1,168,638 | €90,322 | -€1.1m | -92.3% |
| Transfer from deferred taxes | 780 | €25,973 | €7,855 | -€18,118 | -69.8% |
| Transfer to deferred taxes | 680 | €297,012 | €0 | -€297,012 | -100.0% |
| Income taxes | 67/77 | €25,893 | €35,435 | +€9,541 | +36.8% |
| Profit (loss) for the period | 9904 | €871,705 | €62,742 | -€808,963 | -92.8% |
| Transfer from tax-exempt reserves | 789 | €77,918 | €23,565 | -€54,353 | -69.8% |
| Transfer to tax-exempt reserves | 689 | €891,035 | €0 | -€891,035 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €58,588 | €86,307 | +€27,719 | +47.3% |
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 11 October 2026 via checked.be.