L&F Management: 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&F Management
Largest movements
- Tangible fixed assets +€562,159
up €562,159 (+443%), from €126,769 to €688,928
- Financial fixed assets -€50,000
down €50,000 (-33.3%), from €150,000 to €100,000
- Cash +€25,519
up €25,519 (+39.4%), from €64,840 to €90,359
mainly Debts after one year (+€438,323) and Trade debts (+€75,476)
- Receivables within one year +€23,192
up €23,192 (+931%), from €2,491 to €25,683
of which Other amounts receivable: +€13,748
- Debts after one year +€438,323
up €438,323 (+216%), from €202,859 to €641,183
- Trade debts +€75,476
up €75,476 (+1,158%), from €6,520 to €81,996
- Reserves +€39,503
up €39,503 (+59.4%), from €66,471 to €105,974
- Current portion of long-term debt +€18,867
up €18,867 (+80.4%), from €23,469 to €42,336
- Gross operating margin -€23,342
down €23,342 (-19.4%), from €120,480 to €97,138
- Depreciation +€12,366
up €12,366 (+101%), from €12,186 to €24,552
- Taxes -€9,571
down €9,571 (-36.1%), from €26,482 to €16,912
- Financial charges +€2,243
up €2,243 (+16.3%), from €13,765 to €16,008
- Financial income +€2,236
up €2,236 (+1,397%), from €160 to €2,396
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.
Derived cash bridge
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 | €347,138 | €912,332 | +€565,193 | +163% |
| Fixed assets | 21/28 | €276,769 | €788,928 | +€512,159 | +185% |
| Tangible fixed assets | 22/27 | €126,769 | €688,928 | +€562,159 | +443% |
| Land and buildings | 22 | €126,769 | €688,928 | +€562,159 | +443% |
| Financial fixed assets | 28 | €150,000 | €100,000 | -€50,000 | -33.3% |
| Current assets | 29/58 | €70,369 | €123,403 | +€53,034 | +75.4% |
| Amounts receivable within one year | 40/41 | €2,491 | €25,683 | +€23,192 | +931% |
| Trade receivables | 40 | - | €9,444 | +€9,444 | |
| Other amounts receivable | 41 | €2,491 | €16,239 | +€13,748 | +552% |
| Cash at bank and in hand | 54/58 | €64,840 | €90,359 | +€25,519 | +39.4% |
| Deferred charges and accrued income | 490/1 | €3,037 | €7,361 | +€4,324 | +142% |
| Total equity and liabilities | 10/49 | €347,138 | €912,332 | +€565,193 | +163% |
| Equity | 10/15 | €66,471 | €105,974 | +€39,503 | +59.4% |
| Reserves | 13 | €66,471 | €105,974 | +€39,503 | +59.4% |
| Distributable reserves | 133 | €66,471 | €105,974 | +€39,503 | +59.4% |
| Amounts payable | 17/49 | €280,668 | €806,357 | +€525,690 | +187% |
| Amounts payable after more than one year | 17 | €202,859 | €641,183 | +€438,323 | +216% |
| Financial debts | 170/4 | €202,859 | €641,183 | +€438,323 | +216% |
| Amounts payable within one year | 42/48 | €75,071 | €160,330 | +€85,259 | +114% |
| Current portion of amounts payable after more than one year | 42 | €23,469 | €42,336 | +€18,867 | +80.4% |
| Trade debts | 44 | €6,520 | €81,996 | +€75,476 | +1,158% |
| Suppliers | 440/4 | €6,520 | €81,996 | +€75,476 | +1,158% |
| Taxes, remuneration and social security | 45 | €43,013 | €35,850 | -€7,162 | -16.7% |
| Taxes | 450/3 | €43,013 | €34,879 | -€8,134 | -18.9% |
| Remuneration and social security | 454/9 | - | €972 | +€972 | |
| Other amounts payable | 47/48 | €2,069 | €147 | -€1,922 | -92.9% |
| Accrued charges and deferred income | 492/3 | €2,737 | €4,845 | +€2,107 | +77.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,186 | €24,552 | +€12,366 | +101% |
| Other operating charges | 640/8 | €2,303 | €2,559 | +€256 | +11.1% |
| Gross operating margin | 9900 | €120,480 | €97,138 | -€23,342 | -19.4% |
| Operating profit (loss) | 9901 | €105,991 | €70,027 | -€35,964 | -33.9% |
| Financial income | 75/76B | €160 | €2,396 | +€2,236 | +1,397% |
| Recurring financial income | 75 | €160 | €2,396 | +€2,236 | +1,397% |
| Financial charges | 65/66B | €13,765 | €16,008 | +€2,243 | +16.3% |
| Recurring financial charges | 65 | €13,765 | €16,008 | +€2,243 | +16.3% |
| Profit (loss) for the period before taxes | 9903 | €92,386 | €56,415 | -€35,971 | -38.9% |
| Income taxes | 67/77 | €26,482 | €16,912 | -€9,571 | -36.1% |
| Profit (loss) for the period | 9904 | €65,904 | €39,503 | -€26,400 | -40.1% |
| Profit (loss) for the period to be appropriated | 9905 | €65,904 | €39,503 | -€26,400 | -40.1% |
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.