L-PROJECTS: 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-PROJECTS
Largest movements
- Tangible fixed assets -€13,591
down €13,591 (-1.8%), from €750,956 to €737,366
of which Land and buildings: -€36,598
- Debts after one year -€39,652
down €39,652 (-8.4%), from €471,982 to €432,330
- Trade debts +€21,515
up €21,515 (+28.7%), from €75,014 to €96,529
- Other debts -€20,000
down €20,000 (-93.0%), from €21,500 to €1,500
- Financial charges -€6,226
down €6,226 (-43.8%), from €14,211 to €7,985
- Gross operating margin -€4,329
down €4,329 (-5.9%), from €73,685 to €69,357
- Depreciation +€2,410
up €2,410 (+4.5%), from €53,702 to €56,112
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 | €867,218 | €843,075 | -€24,143 | -2.8% |
| Fixed assets | 21/28 | €750,956 | €737,366 | -€13,591 | -1.8% |
| Tangible fixed assets | 22/27 | €750,956 | €737,366 | -€13,591 | -1.8% |
| Land and buildings | 22 | €717,477 | €680,879 | -€36,598 | -5.1% |
| Furniture and vehicles | 24 | €33,479 | €22,754 | -€10,725 | -32.0% |
| Leasing and similar rights | 25 | - | €33,732 | +€33,732 | |
| Current assets | 29/58 | €116,262 | €105,709 | -€10,553 | -9.1% |
| Amounts receivable within one year | 40/41 | €98,534 | €92,901 | -€5,633 | -5.7% |
| Trade receivables | 40 | €8,338 | €7,021 | -€1,317 | -15.8% |
| Other amounts receivable | 41 | €90,196 | €85,880 | -€4,316 | -4.8% |
| Cash at bank and in hand | 54/58 | €9,645 | €2,073 | -€7,571 | -78.5% |
| Deferred charges and accrued income | 490/1 | €8,084 | €10,735 | +€2,651 | +32.8% |
| Total equity and liabilities | 10/49 | €867,218 | €843,075 | -€24,143 | -2.8% |
| Equity | 10/15 | €230,537 | €230,638 | +€101 | 0.0% |
| Contributions | 10/11 | €150,000 | €150,000 | = | 0.0% |
| Reserves | 13 | €80,537 | €80,638 | +€101 | +0.1% |
| Distributable reserves | 133 | €80,537 | €80,638 | +€101 | +0.1% |
| Amounts payable | 17/49 | €636,681 | €612,437 | -€24,244 | -3.8% |
| Amounts payable after more than one year | 17 | €471,982 | €432,330 | -€39,652 | -8.4% |
| Financial debts | 170/4 | €471,982 | €432,330 | -€39,652 | -8.4% |
| Amounts payable within one year | 42/48 | €164,699 | €180,107 | +€15,408 | +9.4% |
| Current portion of amounts payable after more than one year | 42 | €67,185 | €73,608 | +€6,422 | +9.6% |
| Trade debts | 44 | €75,014 | €96,529 | +€21,515 | +28.7% |
| Suppliers | 440/4 | €75,014 | €96,529 | +€21,515 | +28.7% |
| Advances received on contracts in progress | 46 | - | €8,470 | +€8,470 | |
| Taxes, remuneration and social security | 45 | €1,000 | - | -€1,000 | |
| Taxes | 450/3 | €1,000 | - | -€1,000 | |
| Other amounts payable | 47/48 | €21,500 | €1,500 | -€20,000 | -93.0% |
| Non-recurring operating income | 76A | €88,871 | - | -€88,871 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,702 | €56,112 | +€2,410 | +4.5% |
| Other operating charges | 640/8 | €8,465 | €8,453 | -€13 | -0.2% |
| Gross operating margin | 9900 | €73,685 | €69,357 | -€4,329 | -5.9% |
| Operating profit (loss) | 9901 | €11,518 | €4,792 | -€6,726 | -58.4% |
| Financial income | 75/76B | €3,947 | €4,217 | +€270 | +6.8% |
| Recurring financial income | 75 | €3,947 | €4,217 | +€270 | +6.8% |
| Financial charges | 65/66B | €14,211 | €7,985 | -€6,226 | -43.8% |
| Recurring financial charges | 65 | €14,211 | €7,985 | -€6,226 | -43.8% |
| Profit (loss) for the period before taxes | 9903 | €1,254 | €1,024 | -€230 | -18.3% |
| Income taxes | 67/77 | €999 | €923 | -€76 | -7.6% |
| Profit (loss) for the period | 9904 | €255 | €101 | -€154 | -60.3% |
| Profit (loss) for the period to be appropriated | 9905 | €255 | €101 | -€154 | -60.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.