L&S 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&S PROJECTS
Largest movements
- Receivables within one year +€43,969
up €43,969 (+34.9%), from €126,137 to €170,105
of which Other amounts receivable: +€32,249
- Cash +€7,477
up €7,477 (+84.4%), from €8,855 to €16,332
mainly Trade debts (+€65,426) and Deferred charges and accrued income (+€1,000)
- Trade debts +€65,426
up €65,426 (+1,297%), from €5,045 to €70,472
- Debts after one year -€12,218
down €12,218 (-33.3%), from €36,660 to €24,442
- Other debts -€1,927
down €1,927 (-22.2%), from €8,682 to €6,754
- Other operating charges +€18,548
up €18,548 (+230%), from €8,073 to €26,621
- Gross operating margin +€16,805
up €16,805, from -€3,355 to €13,450
- Financial income +€16,780
up €16,780 (+529%), from €3,173 to €19,953
- Staff costs -€4,360
down €4,360 (-100%), from €4,360 to €0
- Depreciation -€354
down €354 (-50.4%), from €702 to €348
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 | €136,339 | €186,437 | +€50,098 | +36.7% |
| Fixed assets | 21/28 | €348 | €0 | -€348 | -100% |
| Tangible fixed assets | 22/27 | €348 | €0 | -€348 | -100% |
| Plant, machinery and equipment | 23 | €348 | €0 | -€348 | -100% |
| Current assets | 29/58 | €135,991 | €186,437 | +€50,446 | +37.1% |
| Amounts receivable within one year | 40/41 | €126,137 | €170,105 | +€43,969 | +34.9% |
| Trade receivables | 40 | €88,473 | €100,192 | +€11,719 | +13.2% |
| Other amounts receivable | 41 | €37,664 | €69,914 | +€32,249 | +85.6% |
| Cash at bank and in hand | 54/58 | €8,855 | €16,332 | +€7,477 | +84.4% |
| Deferred charges and accrued income | 490/1 | €1,000 | €0 | -€1,000 | -100% |
| Total equity and liabilities | 10/49 | €136,339 | €186,437 | +€50,098 | +36.7% |
| Equity | 10/15 | €71,631 | €71,374 | -€257 | -0.4% |
| Contributions | 10/11 | €87,500 | €87,500 | = | 0.0% |
| Reserves | 13 | €12,500 | €12,500 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,500 | €12,500 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,500 | €12,500 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€28,369 | -€28,626 | -€257 | -0.9% |
| Amounts payable | 17/49 | €64,708 | €115,064 | +€50,356 | +77.8% |
| Amounts payable after more than one year | 17 | €36,660 | €24,442 | -€12,218 | -33.3% |
| Financial debts | 170/4 | €36,660 | €24,442 | -€12,218 | -33.3% |
| Amounts payable within one year | 42/48 | €27,797 | €90,429 | +€62,633 | +225% |
| Current portion of amounts payable after more than one year | 42 | €12,418 | €13,203 | +€785 | +6.3% |
| Financial debts | 43 | €0 | - | = | |
| Credit institutions | 430/8 | €0 | - | = | |
| Trade debts | 44 | €5,045 | €70,472 | +€65,426 | +1,297% |
| Suppliers | 440/4 | €5,045 | €70,472 | +€65,426 | +1,297% |
| Taxes, remuneration and social security | 45 | €1,651 | €0 | -€1,651 | -100% |
| Taxes | 450/3 | €293 | €0 | -€293 | -100% |
| Remuneration and social security | 454/9 | €1,358 | €0 | -€1,358 | -100% |
| Other amounts payable | 47/48 | €8,682 | €6,754 | -€1,927 | -22.2% |
| Accrued charges and deferred income | 492/3 | €251 | €193 | -€59 | -23.3% |
| Remuneration, social security and pensions | 62 | €4,360 | €0 | -€4,360 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €702 | €348 | -€354 | -50.4% |
| Other operating charges | 640/8 | €8,073 | €26,621 | +€18,548 | +230% |
| Gross operating margin | 9900 | -€3,355 | €13,450 | +€16,805 | |
| Operating profit (loss) | 9901 | -€16,490 | -€13,519 | +€2,971 | +18.0% |
| Financial income | 75/76B | €3,173 | €19,953 | +€16,780 | +529% |
| Recurring financial income | 75 | €3,173 | €19,953 | +€16,780 | +529% |
| Financial charges | 65/66B | €6,712 | €6,692 | -€20 | -0.3% |
| Recurring financial charges | 65 | €6,712 | €6,692 | -€20 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | -€20,029 | -€257 | +€19,771 | +98.7% |
| Income taxes | 67/77 | €0 | - | = | |
| Profit (loss) for the period | 9904 | -€20,029 | -€257 | +€19,771 | +98.7% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,029 | -€257 | +€19,771 | +98.7% |
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.