L&R PROJECTS: 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&R PROJECTS
Largest movements
- Receivables within one year +€12,027
up €12,027 (+412%), from €2,919 to €14,947
- Tangible fixed assets -€11,311
down €11,311 (-23.7%), from €47,739 to €36,428
of which Furniture and vehicles: -€10,948
- Profit (loss) carried forward -€28,249
down €28,249 (-279%), from -€10,115 to -€38,364
- Trade debts +€21,729
up €21,729 (+333%), from €6,523 to €28,252
- Other debts +€14,553
up €14,553 (+442%), from €3,294 to €17,847
- Debts after one year -€8,729
down €8,729 (-26.9%), from €32,453 to €23,724
- Tax, wage and social debts +€1,734
up €1,734 (+48.3%), from €3,591 to €5,325
of which Taxes: +€1,734
- Gross operating margin -€13,515
down €13,515 (-3,348%), from -€404 to -€13,919
- Depreciation +€3,284
up €3,284 (+40.9%), from €8,026 to €11,311
- Financial charges +€978
up €978 (+62.0%), from €1,577 to €2,555
- Other operating charges +€407
up €407 (+331%), from €123 to €530
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 | €50,663 | €51,384 | +€721 | +1.4% |
| Fixed assets | 21/28 | €47,739 | €36,428 | -€11,311 | -23.7% |
| Tangible fixed assets | 22/27 | €47,739 | €36,428 | -€11,311 | -23.7% |
| Plant, machinery and equipment | 23 | €1,780 | €1,417 | -€363 | -20.4% |
| Furniture and vehicles | 24 | €45,959 | €35,011 | -€10,948 | -23.8% |
| Current assets | 29/58 | €2,924 | €14,956 | +€12,032 | +411% |
| Amounts receivable within one year | 40/41 | €2,919 | €14,947 | +€12,027 | +412% |
| Trade receivables | 40 | €2,919 | €14,947 | +€12,027 | +412% |
| Cash at bank and in hand | 54/58 | €5 | €10 | +€5 | +91.5% |
| Total equity and liabilities | 10/49 | €50,663 | €51,384 | +€721 | +1.4% |
| Equity | 10/15 | -€5,115 | -€33,364 | -€28,249 | -552% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€10,115 | -€38,364 | -€28,249 | -279% |
| Amounts payable | 17/49 | €55,778 | €84,748 | +€28,970 | +51.9% |
| Amounts payable after more than one year | 17 | €32,453 | €23,724 | -€8,729 | -26.9% |
| Financial debts | 170/4 | €32,453 | €23,724 | -€8,729 | -26.9% |
| Amounts payable within one year | 42/48 | €23,325 | €61,024 | +€37,699 | +162% |
| Current portion of amounts payable after more than one year | 42 | €9,910 | €9,506 | -€403 | -4.1% |
| Financial debts | 43 | €8 | €94 | +€86 | +1,100% |
| Credit institutions | 430/8 | €8 | €94 | +€86 | +1,100% |
| Trade debts | 44 | €6,523 | €28,252 | +€21,729 | +333% |
| Suppliers | 440/4 | €6,523 | €28,252 | +€21,729 | +333% |
| Taxes, remuneration and social security | 45 | €3,591 | €5,325 | +€1,734 | +48.3% |
| Taxes | 450/3 | €1,991 | €3,725 | +€1,734 | +87.1% |
| Remuneration and social security | 454/9 | €1,600 | €1,600 | = | 0.0% |
| Other amounts payable | 47/48 | €3,294 | €17,847 | +€14,553 | +442% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,026 | €11,311 | +€3,284 | +40.9% |
| Other operating charges | 640/8 | €123 | €530 | +€407 | +331% |
| Gross operating margin | 9900 | -€404 | -€13,919 | -€13,515 | -3,348% |
| Operating profit (loss) | 9901 | -€8,553 | -€25,760 | -€17,207 | -201% |
| Financial income | 75/76B | €15 | €65 | +€51 | +346% |
| Recurring financial income | 75 | €15 | €65 | +€51 | +346% |
| Financial charges | 65/66B | €1,577 | €2,555 | +€978 | +62.0% |
| Recurring financial charges | 65 | €1,577 | €2,555 | +€978 | +62.0% |
| Profit (loss) for the period before taxes | 9903 | -€10,115 | -€28,249 | -€18,134 | -179% |
| Profit (loss) for the period | 9904 | -€10,115 | -€28,249 | -€18,134 | -179% |
| Profit (loss) for the period to be appropriated | 9905 | -€10,115 | -€28,249 | -€18,134 | -179% |
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 16 October 2026 via checked.be.