L. PROPERTIES: 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.
What changed
L. PROPERTIES
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1,551
2024 · -€843+€2,394
Equity
€4.1m
2024 · €4.1m+€1,551
Cash
€17,739
2024 · €9,035+€8,704
Balance sheet total
€6.0m
2024 · €5.8m+€188,032
Largest movements
Assets
- Financial fixed assets +€364,500
up €364,500 (+17.7%), from €2.1m to €2.4m
- Receivables within one year -€150,777
down €150,777 (-5.5%), from €2.7m to €2.6m
Equity and liabilities
- Other debts +€239,800
up €239,800 (+233.4%), from €102,757 to €342,558
- Debts after one year -€91,692
down €91,692 (-8.9%), from €1.0m to €934,712
Income statement
- Financial charges -€9,526
down €9,526 (-12.1%), from €78,950 to €69,424
- Other operating charges +€4,802
up €4,802 (+13.4%), from €35,819 to €40,621
- Gross operating margin -€3,059
down €3,059 (-2.5%), from €124,722 to €121,663
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.
Result 2024
-€843
Gross operating margin
-€3,059
Depreciation
+€1
Other operating charges
-€4,802
Financial income
+€726
Financial charges
+€9,526
Result 2025
€1,551
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.
From operations
+€453,064
Investment
-€364,500
Financing
-€79,860
Cash 2024
€9,035
From operations (derived)
+€453,064
Net result for the year
+€1,551
Depreciation
+€35,567
Receivables within one year
+€150,777
Deferred charges and accrued income
-€1,173
Trade debts
+€24,741
Other debts
+€239,800
Accrued charges and deferred income
+€1,800
Investment (derived)
-€364,500
Investment in fixed assets (net)
-€364,500
Financing
-€79,860
Debts after one year
-€91,692
Current portion of long-term debt
+€11,852
Short-term financial debts
-€20
Cash 2025
€17,739
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,771,487 | €5,959,519 | +€188,032 | +3.3% |
| Fixed assets | 21/28 | €3,043,574 | €3,372,507 | +€328,933 | +10.8% |
| Tangible fixed assets | 22/27 | €982,852 | €947,285 | -€35,567 | -3.6% |
| Land and buildings | 22 | €982,852 | €947,285 | -€35,567 | -3.6% |
| Financial fixed assets | 28 | €2,060,722 | €2,425,222 | +€364,500 | +17.7% |
| Current assets | 29/58 | €2,727,913 | €2,587,012 | -€140,901 | -5.2% |
| Amounts receivable within one year | 40/41 | €2,718,878 | €2,568,101 | -€150,777 | -5.5% |
| Other amounts receivable | 41 | €2,718,878 | €2,568,101 | -€150,777 | -5.5% |
| Cash at bank and in hand | 54/58 | €9,035 | €17,739 | +€8,704 | +96.3% |
| Deferred charges and accrued income | 490/1 | - | €1,173 | +€1,173 | |
| Total equity and liabilities | 10/49 | €5,771,487 | €5,959,519 | +€188,032 | +3.3% |
| Equity | 10/15 | €4,054,661 | €4,056,211 | +€1,551 | 0.0% |
| Contributions | 10/11 | €62,469 | €62,469 | = | 0.0% |
| Capital | 10 | €62,469 | €62,469 | = | 0.0% |
| Issued capital | 100 | €62,469 | €62,469 | = | 0.0% |
| Revaluation surpluses | 12 | €278,193 | €274,121 | -€4,072 | -1.5% |
| Reserves | 13 | €3,713,999 | €3,719,621 | +€5,622 | +0.2% |
| Non-distributable reserves | 130/1 | €6,247 | €6,247 | = | 0.0% |
| Legal reserve | 130 | €6,247 | €6,247 | = | 0.0% |
| Tax-exempt reserves | 132 | €242,254 | €242,254 | = | 0.0% |
| Distributable reserves | 133 | €3,465,498 | €3,471,120 | +€5,622 | +0.2% |
| Provisions and deferred taxes | 16 | €80,751 | €80,751 | = | 0.0% |
| Deferred taxes | 168 | €80,751 | €80,751 | = | 0.0% |
| Amounts payable | 17/49 | €1,636,075 | €1,822,556 | +€186,481 | +11.4% |
| Amounts payable after more than one year | 17 | €1,026,405 | €934,712 | -€91,692 | -8.9% |
| Financial debts | 170/4 | €1,026,405 | €934,712 | -€91,692 | -8.9% |
| Amounts payable within one year | 42/48 | €602,470 | €878,844 | +€276,374 | +45.9% |
| Current portion of amounts payable after more than one year | 42 | €92,910 | €104,762 | +€11,852 | +12.8% |
| Financial debts | 43 | €356,000 | €355,980 | -€20 | 0.0% |
| Credit institutions | 430/8 | €356,000 | €355,980 | -€20 | 0.0% |
| Trade debts | 44 | €50,803 | €75,545 | +€24,741 | +48.7% |
| Suppliers | 440/4 | €50,803 | €75,545 | +€24,741 | +48.7% |
| Other amounts payable | 47/48 | €102,757 | €342,558 | +€239,800 | +233.4% |
| Accrued charges and deferred income | 492/3 | €7,200 | €9,000 | +€1,800 | +25.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,569 | €35,567 | -€1 | 0.0% |
| Other operating charges | 640/8 | €35,819 | €40,621 | +€4,802 | +13.4% |
| Gross operating margin | 9900 | €124,722 | €121,663 | -€3,059 | -2.5% |
| Operating profit (loss) | 9901 | €53,334 | €45,475 | -€7,859 | -14.7% |
| Financial income | 75/76B | €24,773 | €25,500 | +€726 | +2.9% |
| Recurring financial income | 75 | €24,773 | €25,500 | +€726 | +2.9% |
| Financial charges | 65/66B | €78,950 | €69,424 | -€9,526 | -12.1% |
| Recurring financial charges | 65 | €78,950 | €69,424 | -€9,526 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | -€843 | €1,551 | +€2,394 | |
| Profit (loss) for the period | 9904 | -€843 | €1,551 | +€2,394 | |
| Profit (loss) for the period to be appropriated | 9905 | -€843 | €1,551 | +€2,394 |
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.