L HOLDINGS: 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 HOLDINGS
Largest movements
- Cash -€95,170
down €95,170 (-60.5%), from €157,343 to €62,173
mainly Debts after one year (-€97,315) and Investment in fixed assets (net) (-€75,374)
- Debts after one year -€97,315
down €97,315 (-3.4%), from €2.9m to €2.8m
of which Financial debts: -€90,835
- Gross operating margin +€69,462
up €69,462 (+54.1%), from €128,320 to €197,782
- Depreciation +€31,618
up €31,618 (+49.9%), from €63,411 to €95,030
- Other operating charges -€11,980
down €11,980 (-69.0%), from €17,363 to €5,383
- Financial charges -€6,433
down €6,433 (-6.4%), from €101,135 to €94,702
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 | €2,875,008 | €2,764,305 | -€110,703 | -3.9% |
| Fixed assets | 21/28 | €2,708,711 | €2,689,055 | -€19,656 | -0.7% |
| Tangible fixed assets | 22/27 | €2,708,711 | €2,689,055 | -€19,656 | -0.7% |
| Land and buildings | 22 | €2,684,550 | €2,669,442 | -€15,108 | -0.6% |
| Other tangible fixed assets | 26 | €24,161 | €19,613 | -€4,548 | -18.8% |
| Current assets | 29/58 | €166,297 | €75,250 | -€91,047 | -54.7% |
| Amounts receivable within one year | 40/41 | €8,640 | €8,640 | = | 0.0% |
| Other amounts receivable | 41 | €8,640 | €8,640 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €157,343 | €62,173 | -€95,170 | -60.5% |
| Deferred charges and accrued income | 490/1 | €314 | €4,436 | +€4,122 | +1,313% |
| Total equity and liabilities | 10/49 | €2,875,008 | €2,764,305 | -€110,703 | -3.9% |
| Equity | 10/15 | -€106,458 | -€103,791 | +€2,668 | +2.5% |
| Contributions | 10/11 | €50,000 | €50,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€156,458 | -€153,791 | +€2,668 | +1.7% |
| Amounts payable | 17/49 | €2,981,466 | €2,868,096 | -€113,371 | -3.8% |
| Amounts payable after more than one year | 17 | €2,870,194 | €2,772,879 | -€97,315 | -3.4% |
| Financial debts | 170/4 | €2,853,704 | €2,762,869 | -€90,835 | -3.2% |
| Other amounts payable | 178/9 | €16,490 | €10,010 | -€6,480 | -39.3% |
| Amounts payable within one year | 42/48 | €103,500 | €91,930 | -€11,570 | -11.2% |
| Current portion of amounts payable after more than one year | 42 | €87,224 | €91,035 | +€3,811 | +4.4% |
| Financial debts | 43 | €91 | - | -€91 | |
| Credit institutions | 430/8 | €91 | - | -€91 | |
| Trade debts | 44 | €16,185 | €895 | -€15,290 | -94.5% |
| Suppliers | 440/4 | €16,185 | €895 | -€15,290 | -94.5% |
| Accrued charges and deferred income | 492/3 | €7,772 | €3,287 | -€4,486 | -57.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €63,411 | €95,030 | +€31,618 | +49.9% |
| Other operating charges | 640/8 | €17,363 | €5,383 | -€11,980 | -69.0% |
| Gross operating margin | 9900 | €128,320 | €197,782 | +€69,462 | +54.1% |
| Operating profit (loss) | 9901 | €47,546 | €97,369 | +€49,823 | +105% |
| Financial charges | 65/66B | €101,135 | €94,702 | -€6,433 | -6.4% |
| Recurring financial charges | 65 | €101,135 | €94,702 | -€6,433 | -6.4% |
| Profit (loss) for the period before taxes | 9903 | -€53,589 | €2,668 | +€56,257 | |
| Profit (loss) for the period | 9904 | -€53,589 | €2,668 | +€56,257 | |
| Profit (loss) for the period to be appropriated | 9905 | -€53,589 | €2,668 | +€56,257 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 24 October 2026 via checked.be.