L&T: 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&T
Largest movements
- Receivables within one year +€79,568
up €79,568 (+39.8%), from €199,710 to €279,278
of which Trade receivables: +€40,868
- Cash -€38,248
down €38,248 (-69.6%), from €54,987 to €16,739
mainly Net result for the year (-€168,487) and Receivables within one year (-€79,568)
- Tangible fixed assets -€33,578
down €33,578 (-19.8%), from €169,187 to €135,609
of which Furniture and vehicles: -€24,526
- Deferred charges and accrued income +€10,018
up €10,018 (+379%), from €2,646 to €12,663
- Profit (loss) carried forward -€168,487
down €168,487 (-79.5%), from €211,816 to €43,329
- Trade debts +€124,140
up €124,140 (+351%), from €35,376 to €159,516
- Other debts +€107,613
up €107,613 (+853%), from €12,614 to €120,227
- Tax, wage and social debts -€13,854
down €13,854 (-94.5%), from €14,659 to €805
of which Taxes: -€13,134
- Debts after one year -€13,099
down €13,099 (-14.1%), from €92,929 to €79,830
- Gross operating margin -€246,102
down €246,102, from €171,179 to -€74,923
- Taxes -€22,671
down €22,671 (-74.0%), from €30,655 to €7,984
- Write-downs +€20,000
new in 2024: €20,000
- Other operating charges +€2,725
up €2,725 (+105%), from €2,583 to €5,308
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €428,730 | €446,223 | +€17,493 | +4.1% |
| Fixed assets | 21/28 | €171,387 | €137,543 | -€33,844 | -19.7% |
| Intangible fixed assets | 21 | €266 | - | -€266 | |
| Tangible fixed assets | 22/27 | €169,187 | €135,609 | -€33,578 | -19.8% |
| Land and buildings | 22 | €124,283 | €119,135 | -€5,148 | -4.1% |
| Plant, machinery and equipment | 23 | €8,490 | €4,586 | -€3,903 | -46.0% |
| Furniture and vehicles | 24 | €36,414 | €11,887 | -€24,526 | -67.4% |
| Financial fixed assets | 28 | €1,934 | €1,934 | = | 0.0% |
| Current assets | 29/58 | €257,343 | €308,680 | +€51,337 | +19.9% |
| Amounts receivable within one year | 40/41 | €199,710 | €279,278 | +€79,568 | +39.8% |
| Trade receivables | 40 | €179,419 | €220,287 | +€40,868 | +22.8% |
| Other amounts receivable | 41 | €20,291 | €58,991 | +€38,699 | +191% |
| Cash at bank and in hand | 54/58 | €54,987 | €16,739 | -€38,248 | -69.6% |
| Deferred charges and accrued income | 490/1 | €2,646 | €12,663 | +€10,018 | +379% |
| Total equity and liabilities | 10/49 | €428,730 | €446,223 | +€17,493 | +4.1% |
| Equity | 10/15 | €216,816 | €48,329 | -€168,487 | -77.7% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €211,816 | €43,329 | -€168,487 | -79.5% |
| Amounts payable | 17/49 | €211,914 | €397,894 | +€185,980 | +87.8% |
| Amounts payable after more than one year | 17 | €92,929 | €79,830 | -€13,099 | -14.1% |
| Financial debts | 170/4 | €92,929 | €79,830 | -€13,099 | -14.1% |
| Amounts payable within one year | 42/48 | €115,981 | €315,998 | +€200,018 | +172% |
| Current portion of amounts payable after more than one year | 42 | €46,578 | €35,450 | -€11,128 | -23.9% |
| Financial debts | 43 | €6,754 | - | -€6,754 | |
| Credit institutions | 430/8 | €6,754 | - | -€6,754 | |
| Trade debts | 44 | €35,376 | €159,516 | +€124,140 | +351% |
| Suppliers | 440/4 | €35,376 | €159,516 | +€124,140 | +351% |
| Taxes, remuneration and social security | 45 | €14,659 | €805 | -€13,854 | -94.5% |
| Taxes | 450/3 | €13,134 | - | -€13,134 | |
| Remuneration and social security | 454/9 | €1,525 | €805 | -€720 | -47.2% |
| Other amounts payable | 47/48 | €12,614 | €120,227 | +€107,613 | +853% |
| Accrued charges and deferred income | 492/3 | €3,004 | €2,066 | -€938 | -31.2% |
| Remuneration, social security and pensions | 62 | €17,928 | €19,056 | +€1,128 | +6.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €36,248 | €35,309 | -€938 | -2.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €20,000 | +€20,000 | |
| Other operating charges | 640/8 | €2,583 | €5,308 | +€2,725 | +105% |
| Gross operating margin | 9900 | €171,179 | -€74,923 | -€246,102 | |
| Operating profit (loss) | 9901 | €114,420 | -€154,596 | -€269,016 | |
| Financial income | 75/76B | €914 | €1,084 | +€169 | +18.5% |
| Recurring financial income | 75 | €914 | €1,084 | +€169 | +18.5% |
| Financial charges | 65/66B | €7,396 | €6,990 | -€406 | -5.5% |
| Recurring financial charges | 65 | €7,396 | €6,990 | -€406 | -5.5% |
| Profit (loss) for the period before taxes | 9903 | €107,939 | -€160,502 | -€268,441 | |
| Income taxes | 67/77 | €30,655 | €7,984 | -€22,671 | -74.0% |
| Profit (loss) for the period | 9904 | €77,283 | -€168,487 | -€245,770 | |
| Profit (loss) for the period to be appropriated | 9905 | €77,283 | -€168,487 | -€245,770 |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 16 October 2026 via checked.be.