L & R INVEST: what changed
L & R INVEST
Largest movements
- Tangible fixed assets +€322,115
up €322,115 (+42.1%), from €765,157 to €1.1m
of which Land and buildings: +€275,027
- Receivables within one year +€43,499
up €43,499 (+21.8%), from €199,849 to €243,348
of which Trade receivables: +€37,821
- Stocks and contracts +€38,445
new in 2025: €38,445
- Debts after one year +€200,563
up €200,563 (+40.5%), from €494,833 to €695,397
of which Financial debts: +€200,563
- Other debts +€109,152
up €109,152 (+31.3%), from €348,716 to €457,868
- Trade debts +€43,093
up €43,093 (+304%), from €14,167 to €57,259
- Reserves +€22,294
up €22,294 (+70.0%), from €31,842 to €54,137
- Current portion of long-term debt +€20,877
up €20,877 (+53.2%), from €39,209 to €60,086
- Gross operating margin +€68,956
up €68,956 (+103%), from €66,695 to €135,651
- Depreciation +€48,009
up €48,009 (+172%), from €27,917 to €75,927
- Financial charges +€4,794
up €4,794 (+17.0%), from €28,273 to €33,067
- Taxes +€4,302
up €4,302 (+976%), from €441 to €4,743
- Financial income +€1,501
up €1,501 (+16.6%), from €9,064 to €10,565
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €970,414 | €1,370,591 | +€400,177 | +41.2% |
| Fixed assets | 21/28 | €765,157 | €1,087,272 | +€322,115 | +42.1% |
| Tangible fixed assets | 22/27 | €765,157 | €1,087,272 | +€322,115 | +42.1% |
| Land and buildings | 22 | €750,001 | €1,025,028 | +€275,027 | +36.7% |
| Plant, machinery and equipment | 23 | €4,293 | €3,744 | -€549 | -12.8% |
| Furniture and vehicles | 24 | €10,863 | €58,500 | +€47,637 | +439% |
| Current assets | 29/58 | €205,257 | €283,319 | +€78,063 | +38.0% |
| Stocks and contracts in progress | 3 | - | €38,445 | +€38,445 | |
| Stocks | 30/36 | - | €38,445 | +€38,445 | |
| Amounts receivable within one year | 40/41 | €199,849 | €243,348 | +€43,499 | +21.8% |
| Trade receivables | 40 | €24,295 | €62,116 | +€37,821 | +156% |
| Other amounts receivable | 41 | €175,554 | €181,232 | +€5,678 | +3.2% |
| Cash at bank and in hand | 54/58 | €5,407 | €1,526 | -€3,881 | -71.8% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €970,414 | €1,370,591 | +€400,177 | +41.2% |
| Equity | 10/15 | €66,842 | €89,137 | +€22,294 | +33.4% |
| Contributions | 10/11 | €35,000 | €35,000 | = | 0.0% |
| Reserves | 13 | €31,842 | €54,137 | +€22,294 | +70.0% |
| Distributable reserves | 133 | €31,842 | €54,137 | +€22,294 | +70.0% |
| Amounts payable | 17/49 | €903,571 | €1,281,454 | +€377,883 | +41.8% |
| Amounts payable after more than one year | 17 | €494,833 | €695,397 | +€200,563 | +40.5% |
| Financial debts | 170/4 | €424,833 | €625,397 | +€200,563 | +47.2% |
| Other amounts payable | 178/9 | €70,000 | €70,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €408,738 | €586,057 | +€177,320 | +43.4% |
| Current portion of amounts payable after more than one year | 42 | €39,209 | €60,086 | +€20,877 | +53.2% |
| Trade debts | 44 | €14,167 | €57,259 | +€43,093 | +304% |
| Suppliers | 440/4 | €14,167 | €57,259 | +€43,093 | +304% |
| Advances received on contracts in progress | 46 | - | €2,500 | +€2,500 | |
| Taxes, remuneration and social security | 45 | €6,646 | €8,344 | +€1,697 | +25.5% |
| Taxes | 450/3 | €6,646 | €8,344 | +€1,697 | +25.5% |
| Other amounts payable | 47/48 | €348,716 | €457,868 | +€109,152 | +31.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,917 | €75,927 | +€48,009 | +172% |
| Other operating charges | 640/8 | €9,439 | €10,184 | +€745 | +7.9% |
| Gross operating margin | 9900 | €66,695 | €135,651 | +€68,956 | +103% |
| Operating profit (loss) | 9901 | €29,338 | €49,540 | +€20,202 | +68.9% |
| Financial income | 75/76B | €9,064 | €10,565 | +€1,501 | +16.6% |
| Recurring financial income | 75 | €9,064 | €10,565 | +€1,501 | +16.6% |
| Financial charges | 65/66B | €28,273 | €33,067 | +€4,794 | +17.0% |
| Recurring financial charges | 65 | €28,273 | €33,067 | +€4,794 | +17.0% |
| Profit (loss) for the period before taxes | 9903 | €10,128 | €27,037 | +€16,909 | +167% |
| Income taxes | 67/77 | €441 | €4,743 | +€4,302 | +976% |
| Profit (loss) for the period | 9904 | €9,688 | €22,294 | +€12,607 | +130% |
| Profit (loss) for the period to be appropriated | 9905 | €9,688 | €22,294 | +€12,607 | +130% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.