L&W GROUP: 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&W GROUP
Largest movements
- Receivables within one year +€16,630
up €16,630 (+208%), from €7,976 to €24,606
of which Trade receivables: +€17,602
- Tangible fixed assets -€10,217
down €10,217 (-35.9%), from €28,450 to €18,233
- Cash +€1,056
up €1,056 (+6.2%), from €17,053 to €18,109
mainly Depreciation (+€11,166) and Tax, wage and social debts (+€8,897)
- Intangible fixed assets -€799
down €799 (-50.0%), from €1,598 to €799
- Tax, wage and social debts +€8,897
up €8,897 (+311%), from €2,862 to €11,759
of which Taxes: +€6,887
- Trade debts +€8,201
up €8,201 (+489%), from €1,678 to €9,879
- Other debts -€5,054
down €5,054 (-71.7%), from €7,045 to €1,991
- Debts after one year -€2,859
down €2,859 (-62.7%), from €4,558 to €1,698
- Profit (loss) carried forward -€2,206
down €2,206 (-8.3%), from -€26,511 to -€28,717
- Gross operating margin +€10,062
up €10,062 (+1,553%), from €648 to €10,710
- Financial income -€1,270
down €1,270 (-99.4%), from €1,278 to €8
- Other operating charges -€387
down €387 (-24.0%), from €1,609 to €1,222
- Financial charges -€122
down €122 (-23.6%), from €518 to €395
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 | €56,096 | €63,167 | +€7,071 | +12.6% |
| Fixed assets | 21/28 | €30,049 | €19,032 | -€11,016 | -36.7% |
| Intangible fixed assets | 21 | €1,598 | €799 | -€799 | -50.0% |
| Tangible fixed assets | 22/27 | €28,450 | €18,233 | -€10,217 | -35.9% |
| Furniture and vehicles | 24 | €28,450 | €18,233 | -€10,217 | -35.9% |
| Current assets | 29/58 | €26,048 | €44,135 | +€18,087 | +69.4% |
| Amounts receivable within one year | 40/41 | €7,976 | €24,606 | +€16,630 | +208% |
| Trade receivables | 40 | €3,794 | €21,395 | +€17,602 | +464% |
| Other amounts receivable | 41 | €4,182 | €3,210 | -€972 | -23.2% |
| Cash at bank and in hand | 54/58 | €17,053 | €18,109 | +€1,056 | +6.2% |
| Deferred charges and accrued income | 490/1 | €1,019 | €1,421 | +€402 | +39.4% |
| Total equity and liabilities | 10/49 | €56,096 | €63,167 | +€7,071 | +12.6% |
| Equity | 10/15 | €37,146 | €34,940 | -€2,206 | -5.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €45,057 | €45,057 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €43,197 | €43,197 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€26,511 | -€28,717 | -€2,206 | -8.3% |
| Amounts payable | 17/49 | €18,950 | €28,227 | +€9,277 | +49.0% |
| Amounts payable after more than one year | 17 | €4,558 | €1,698 | -€2,859 | -62.7% |
| Financial debts | 170/4 | €4,558 | €1,698 | -€2,859 | -62.7% |
| Amounts payable within one year | 42/48 | €14,380 | €26,488 | +€12,108 | +84.2% |
| Current portion of amounts payable after more than one year | 42 | €2,795 | €2,859 | +€64 | +2.3% |
| Trade debts | 44 | €1,678 | €9,879 | +€8,201 | +489% |
| Suppliers | 440/4 | €1,678 | €9,879 | +€8,201 | +489% |
| Taxes, remuneration and social security | 45 | €2,862 | €11,759 | +€8,897 | +311% |
| Taxes | 450/3 | €1,382 | €8,269 | +€6,887 | +498% |
| Remuneration and social security | 454/9 | €1,480 | €3,490 | +€2,010 | +136% |
| Other amounts payable | 47/48 | €7,045 | €1,991 | -€5,054 | -71.7% |
| Accrued charges and deferred income | 492/3 | €12 | €41 | +€29 | +248% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,233 | €11,166 | -€67 | -0.6% |
| Other operating charges | 640/8 | €1,609 | €1,222 | -€387 | -24.0% |
| Gross operating margin | 9900 | €648 | €10,710 | +€10,062 | +1,553% |
| Operating profit (loss) | 9901 | -€12,194 | -€1,678 | +€10,516 | +86.2% |
| Financial income | 75/76B | €1,278 | €8 | -€1,270 | -99.4% |
| Recurring financial income | 75 | €1,278 | €8 | -€1,270 | -99.4% |
| Financial charges | 65/66B | €518 | €395 | -€122 | -23.6% |
| Recurring financial charges | 65 | €518 | €395 | -€122 | -23.6% |
| Profit (loss) for the period before taxes | 9903 | -€11,434 | -€2,066 | +€9,369 | +81.9% |
| Income taxes | 67/77 | €153 | €141 | -€12 | -7.8% |
| Profit (loss) for the period | 9904 | -€11,587 | -€2,206 | +€9,381 | +81.0% |
| Profit (loss) for the period to be appropriated | 9905 | -€11,587 | -€2,206 | +€9,381 | +81.0% |
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 20 October 2026 via checked.be.