L & L Construct: what changed
Two fiscal 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 & L Construct
Largest movements
- Stocks and contracts +€402,989
up €402,989, from €0 to €402,989
of which Stocks: +€402,989
- Cash -€67,492
down €67,492 (-80.2%), from €84,205 to €16,713
mainly Stocks and contracts (-€402,989) and Current portion of long-term debt (-€7,210)
- Receivables within one year -€17,562
down €17,562 (-73.0%), from €24,056 to €6,494
of which Other amounts receivable: -€20,352
- Tangible fixed assets -€8,093
down €8,093 (-100.0%), from €8,093 to €0
of which Furniture and vehicles: -€6,440
- Debts after one year +€245,000
up €245,000, from €0 to €245,000
- Other debts +€65,409
up €65,409 (+105.1%), from €62,210 to €127,619
- Current portion of long-term debt -€7,210
down €7,210 (-100.0%), from €7,210 to €0
- Reserves +€6,610
up €6,610 (+17.5%), from €37,671 to €44,281
- Gross operating margin -€35,023
down €35,023 (-59.6%), from €58,747 to €23,724
- Depreciation -€10,853
down €10,853 (-62.8%), from €17,294 to €6,440
- Other operating charges -€5,651
down €5,651 (-88.1%), from €6,412 to €761
- Taxes -€4,705
down €4,705 (-55.4%), from €8,487 to €3,782
- Financial charges -€3,554
down €3,554 (-36.7%), from €9,689 to €6,135
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 | €116,354 | €428,054 | +€311,700 | +267.9% |
| Fixed assets | 21/28 | €8,093 | €0 | -€8,093 | -100.0% |
| Tangible fixed assets | 22/27 | €8,093 | €0 | -€8,093 | -100.0% |
| Furniture and vehicles | 24 | €6,440 | €0 | -€6,440 | -100.0% |
| Other tangible fixed assets | 26 | €1,653 | €0 | -€1,653 | -100.0% |
| Current assets | 29/58 | €108,261 | €428,054 | +€319,793 | +295.4% |
| Stocks and contracts in progress | 3 | €0 | €402,989 | +€402,989 | |
| Stocks | 30/36 | €0 | €402,989 | +€402,989 | |
| Contracts in progress | 37 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €24,056 | €6,494 | -€17,562 | -73.0% |
| Trade receivables | 40 | €0 | €2,791 | +€2,791 | |
| Other amounts receivable | 41 | €24,056 | €3,703 | -€20,352 | -84.6% |
| Cash at bank and in hand | 54/58 | €84,205 | €16,713 | -€67,492 | -80.2% |
| Deferred charges and accrued income | 490/1 | - | €1,857 | +€1,857 | |
| Total equity and liabilities | 10/49 | €116,354 | €428,054 | +€311,700 | +267.9% |
| Equity | 10/15 | €39,671 | €46,281 | +€6,610 | +16.7% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Reserves | 13 | €37,671 | €44,281 | +€6,610 | +17.5% |
| Distributable reserves | 133 | €37,671 | €44,281 | +€6,610 | +17.5% |
| Amounts payable | 17/49 | €76,683 | €381,772 | +€305,090 | +397.9% |
| Amounts payable after more than one year | 17 | €0 | €245,000 | +€245,000 | |
| Financial debts | 170/4 | €0 | €245,000 | +€245,000 | |
| Amounts payable within one year | 42/48 | €76,683 | €136,772 | +€60,090 | +78.4% |
| Current portion of amounts payable after more than one year | 42 | €7,210 | €0 | -€7,210 | -100.0% |
| Trade debts | 44 | €4,068 | €4,884 | +€817 | +20.1% |
| Suppliers | 440/4 | €4,068 | €4,884 | +€817 | +20.1% |
| Advances received on contracts in progress | 46 | €0 | - | = | |
| Taxes, remuneration and social security | 45 | €3,195 | €4,269 | +€1,074 | +33.6% |
| Taxes | 450/3 | €3,195 | €4,269 | +€1,074 | +33.6% |
| Remuneration and social security | 454/9 | - | €0 | = | |
| Other amounts payable | 47/48 | €62,210 | €127,619 | +€65,409 | +105.1% |
| Non-recurring operating income | 76A | - | €47 | +€47 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,294 | €6,440 | -€10,853 | -62.8% |
| Other operating charges | 640/8 | €6,412 | €761 | -€5,651 | -88.1% |
| Gross operating margin | 9900 | €58,747 | €23,724 | -€35,023 | -59.6% |
| Operating profit (loss) | 9901 | €35,042 | €16,523 | -€18,519 | -52.8% |
| Financial income | 75/76B | €28 | €4 | -€23 | -84.3% |
| Recurring financial income | 75 | €28 | €4 | -€23 | -84.3% |
| Financial charges | 65/66B | €9,689 | €6,135 | -€3,554 | -36.7% |
| Recurring financial charges | 65 | €9,689 | €6,135 | -€3,554 | -36.7% |
| Profit (loss) for the period before taxes | 9903 | €25,380 | €10,392 | -€14,988 | -59.1% |
| Income taxes | 67/77 | €8,487 | €3,782 | -€4,705 | -55.4% |
| Profit (loss) for the period | 9904 | €16,893 | €6,610 | -€10,283 | -60.9% |
| Profit (loss) for the period to be appropriated | 9905 | €16,893 | €6,610 | -€10,283 | -60.9% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.