L & T CONCEPT: 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.
L & T CONCEPT
Largest movements
- Stocks and contracts +€3.5m
new in 2025: €3.5m
- Tangible fixed assets -€2.2m
down €2.2m (-82.6%), from €2.6m to €458,883
of which Land and buildings: -€2.2m
- Cash -€304,099
down €304,099 (-97.6%), from €311,455 to €7,356
mainly Stocks and contracts (-€3.5m) and Receivables within one year (-€93,073)
- Receivables within one year +€93,073
up €93,073 (+408.1%), from €22,806 to €115,879
of which Other amounts receivable: +€90,193
- Debts after one year +€941,578
up €941,578 (+25.0%), from €3.8m to €4.7m
- Trade debts +€94,859
up €94,859 (+2741.1%), from €3,461 to €98,319
- Profit (loss) carried forward +€44,985
up €44,985 (+3.8%), from -€1.2m to -€1.1m
- Gross operating margin +€198,609
up €198,609, from -€33,922 to €164,687
- Depreciation -€67,506
down €67,506 (-73.9%), from €91,404 to €23,898
- Financial charges -€37,547
down €37,547 (-31.9%), from €117,589 to €80,042
- Other operating charges +€16,678
up €16,678 (+1391.4%), from €1,199 to €17,877
- Financial income +€2,115
new in 2025: €2,115
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €2,975,765 | €4,096,192 | +€1.1m | +37.7% |
| Fixed assets | 21/28 | €2,637,086 | €459,735 | -€2.2m | -82.6% |
| Tangible fixed assets | 22/27 | €2,636,234 | €458,883 | -€2.2m | -82.6% |
| Land and buildings | 22 | €2,635,552 | €458,854 | -€2.2m | -82.6% |
| Furniture and vehicles | 24 | €682 | €28 | -€654 | -95.9% |
| Financial fixed assets | 28 | €852 | €852 | = | 0.0% |
| Current assets | 29/58 | €338,679 | €3,636,457 | +€3.3m | +973.7% |
| Stocks and contracts in progress | 3 | - | €3,507,337 | +€3.5m | |
| Stocks | 30/36 | - | €3,507,337 | +€3.5m | |
| Amounts receivable within one year | 40/41 | €22,806 | €115,879 | +€93,073 | +408.1% |
| Trade receivables | 40 | - | €2,881 | +€2,881 | |
| Other amounts receivable | 41 | €22,806 | €112,999 | +€90,193 | +395.5% |
| Cash at bank and in hand | 54/58 | €311,455 | €7,356 | -€304,099 | -97.6% |
| Deferred charges and accrued income | 490/1 | €4,417 | €5,885 | +€1,467 | +33.2% |
| Total equity and liabilities | 10/49 | €2,975,765 | €4,096,192 | +€1.1m | +37.7% |
| Equity | 10/15 | -€805,064 | -€760,079 | +€44,985 | +5.6% |
| Contributions | 10/11 | €140,000 | €140,000 | = | 0.0% |
| Revaluation surpluses | 12 | €225,000 | €225,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,170,064 | -€1,125,079 | +€44,985 | +3.8% |
| Amounts payable | 17/49 | €3,780,829 | €4,856,270 | +€1.1m | +28.4% |
| Amounts payable after more than one year | 17 | €3,773,028 | €4,714,606 | +€941,578 | +25.0% |
| Financial debts | 170/4 | €3,773,028 | €4,714,606 | +€941,578 | +25.0% |
| Amounts payable within one year | 42/48 | €7,801 | €141,664 | +€133,863 | +1716.0% |
| Current portion of amounts payable after more than one year | 42 | - | €39,005 | +€39,005 | |
| Trade debts | 44 | €3,461 | €98,319 | +€94,859 | +2741.1% |
| Suppliers | 440/4 | €3,461 | €98,319 | +€94,859 | +2741.1% |
| Other amounts payable | 47/48 | €4,340 | €4,340 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,404 | €23,898 | -€67,506 | -73.9% |
| Other operating charges | 640/8 | €1,199 | €17,877 | +€16,678 | +1391.4% |
| Gross operating margin | 9900 | -€33,922 | €164,687 | +€198,609 | |
| Operating profit (loss) | 9901 | -€126,524 | €122,913 | +€249,437 | |
| Financial income | 75/76B | - | €2,115 | +€2,115 | |
| Recurring financial income | 75 | - | €2,115 | +€2,115 | |
| Financial charges | 65/66B | €117,589 | €80,042 | -€37,547 | -31.9% |
| Recurring financial charges | 65 | €117,589 | €80,042 | -€37,547 | -31.9% |
| Profit (loss) for the period before taxes | 9903 | -€244,114 | €44,985 | +€289,099 | |
| Profit (loss) for the period | 9904 | -€244,114 | €44,985 | +€289,099 | |
| Profit (loss) for the period to be appropriated | 9905 | -€244,114 | €44,985 | +€289,099 |
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 8 October 2026 via checked.be.