L&L DISTRIBUTION: 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&L DISTRIBUTION
Largest movements
- Stocks and contracts +€126,039
up €126,039 (+61.4%), from €205,391 to €331,430
- Tangible fixed assets +€67,566
up €67,566 (+271%), from €24,912 to €92,478
- Receivables within one year -€32,518
down €32,518 (-39.6%), from €82,184 to €49,665
of which Trade receivables: -€32,997
- Reserves +€45,687
up €45,687 (+69.5%), from €65,733 to €111,420
- Accrued charges and deferred income +€38,816
new in 2025: €38,816
- Debts after one year +€35,084
new in 2025: €35,084
- Other debts +€22,660
up €22,660 (+20.8%), from €108,810 to €131,470
- Current portion of long-term debt +€9,855
up €9,855 (+463%), from €2,127 to €11,982
- Gross operating margin +€69,151
up €69,151 (+337%), from €20,498 to €89,649
- Taxes +€15,253
up €15,253 (+665%), from €2,293 to €17,547
- Depreciation +€9,194
up €9,194 (+80.3%), from €11,450 to €20,644
- Other operating charges -€1,149
down €1,149 (-19.1%), from €6,005 to €4,856
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 | €387,298 | €544,577 | +€157,278 | +40.6% |
| Fixed assets | 21/28 | €24,912 | €92,478 | +€67,566 | +271% |
| Tangible fixed assets | 22/27 | €24,912 | €92,478 | +€67,566 | +271% |
| Furniture and vehicles | 24 | €24,912 | €92,478 | +€67,566 | +271% |
| Current assets | 29/58 | €362,387 | €452,099 | +€89,713 | +24.8% |
| Stocks and contracts in progress | 3 | €205,391 | €331,430 | +€126,039 | +61.4% |
| Stocks | 30/36 | €205,391 | €331,430 | +€126,039 | +61.4% |
| Amounts receivable within one year | 40/41 | €82,184 | €49,665 | -€32,518 | -39.6% |
| Trade receivables | 40 | €79,467 | €46,470 | -€32,997 | -41.5% |
| Other amounts receivable | 41 | €2,717 | €3,195 | +€478 | +17.6% |
| Cash at bank and in hand | 54/58 | €66,416 | €68,053 | +€1,637 | +2.5% |
| Deferred charges and accrued income | 490/1 | €8,396 | €2,951 | -€5,446 | -64.9% |
| Total equity and liabilities | 10/49 | €387,298 | €544,577 | +€157,278 | +40.6% |
| Equity | 10/15 | €84,333 | €130,020 | +€45,687 | +54.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €65,733 | €111,420 | +€45,687 | +69.5% |
| Distributable reserves | 133 | €65,733 | €111,420 | +€45,687 | +69.5% |
| Amounts payable | 17/49 | €302,965 | €414,556 | +€111,591 | +36.8% |
| Amounts payable after more than one year | 17 | - | €35,084 | +€35,084 | |
| Financial debts | 170/4 | - | €35,084 | +€35,084 | |
| Amounts payable within one year | 42/48 | €302,965 | €340,656 | +€37,691 | +12.4% |
| Current portion of amounts payable after more than one year | 42 | €2,127 | €11,982 | +€9,855 | +463% |
| Trade debts | 44 | €165,534 | €173,866 | +€8,331 | +5.0% |
| Suppliers | 440/4 | €165,534 | €173,866 | +€8,331 | +5.0% |
| Taxes, remuneration and social security | 45 | €26,494 | €23,338 | -€3,155 | -11.9% |
| Taxes | 450/3 | €26,494 | €23,338 | -€3,155 | -11.9% |
| Other amounts payable | 47/48 | €108,810 | €131,470 | +€22,660 | +20.8% |
| Accrued charges and deferred income | 492/3 | - | €38,816 | +€38,816 | |
| Non-recurring operating income | 76A | - | €3,000 | +€3,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,450 | €20,644 | +€9,194 | +80.3% |
| Other operating charges | 640/8 | €6,005 | €4,856 | -€1,149 | -19.1% |
| Gross operating margin | 9900 | €20,498 | €89,649 | +€69,151 | +337% |
| Operating profit (loss) | 9901 | €3,042 | €64,149 | +€61,107 | +2,009% |
| Financial income | 75/76B | €0 | €0 | +€0 | |
| Recurring financial income | 75 | €0 | €0 | +€0 | |
| Financial charges | 65/66B | €770 | €915 | +€145 | +18.8% |
| Recurring financial charges | 65 | €770 | €915 | +€145 | +18.8% |
| Profit (loss) for the period before taxes | 9903 | €2,272 | €63,234 | +€60,962 | +2,683% |
| Income taxes | 67/77 | €2,293 | €17,547 | +€15,253 | +665% |
| Profit (loss) for the period | 9904 | -€21 | €45,687 | +€45,708 | |
| Profit (loss) for the period to be appropriated | 9905 | -€21 | €45,687 | +€45,708 |
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 24 October 2026 via checked.be.