L2 CONSTRUCT: 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.
L2 CONSTRUCT
Largest movements
- Cash -€9,131
down €9,131 (-91.1%), from €10,019 to €888
mainly Net result for the year (-€29,058) and Investment in fixed assets (net) (-€20,000)
- Tangible fixed assets +€4,635
up €4,635 (+14.7%), from €31,475 to €36,110
- Receivables within one year +€1,670
up €1,670 (+31.4%), from €5,315 to €6,985
of which Other amounts receivable: +€1,348
- Profit (loss) carried forward -€29,058
down €29,058 (-142.8%), from -€20,342 to -€49,400
- Other debts +€21,525
up €21,525 (+97.5%), from €22,072 to €43,597
- Trade debts +€15,330
up €15,330 (+2244.5%), from €683 to €16,013
- Debts after one year -€8,848
down €8,848 (-35.2%), from €25,122 to €16,274
- Tax, wage and social debts -€2,697
down €2,697 (-79.1%), from €3,409 to €712
of which Taxes: -€1,947
- Depreciation +€7,522
up €7,522 (+91.4%), from €8,233 to €15,755
- Other operating charges +€1,800
up €1,800 (+53.3%), from €3,377 to €5,177
- Gross operating margin +€597
up €597 (+9.1%), from -€6,575 to -€5,978
- Taxes +€238
up €238 (+100.4%), from €237 to €475
- Financial charges -€232
down €232 (-12.1%), from €1,921 to €1,689
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 | €49,269 | €45,960 | -€3,309 | -6.7% |
| Formation expenses | 20 | €390 | €0 | -€390 | -100.0% |
| Fixed assets | 21/28 | €31,475 | €36,110 | +€4,635 | +14.7% |
| Tangible fixed assets | 22/27 | €31,475 | €36,110 | +€4,635 | +14.7% |
| Furniture and vehicles | 24 | €31,475 | €36,110 | +€4,635 | +14.7% |
| Current assets | 29/58 | €17,404 | €9,850 | -€7,554 | -43.4% |
| Amounts receivable within one year | 40/41 | €5,315 | €6,985 | +€1,670 | +31.4% |
| Trade receivables | 40 | €5,058 | €5,380 | +€322 | +6.4% |
| Other amounts receivable | 41 | €257 | €1,605 | +€1,348 | +524.5% |
| Cash at bank and in hand | 54/58 | €10,019 | €888 | -€9,131 | -91.1% |
| Deferred charges and accrued income | 490/1 | €2,070 | €1,977 | -€93 | -4.5% |
| Total equity and liabilities | 10/49 | €49,269 | €45,960 | -€3,309 | -6.7% |
| Equity | 10/15 | -€10,426 | -€39,484 | -€29,058 | -278.7% |
| Contributions | 10/11 | €2,400 | €2,400 | = | 0.0% |
| Reserves | 13 | €7,516 | €7,516 | = | 0.0% |
| Distributable reserves | 133 | €7,516 | €7,516 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€20,342 | -€49,400 | -€29,058 | -142.8% |
| Amounts payable | 17/49 | €59,695 | €85,444 | +€25,749 | +43.1% |
| Amounts payable after more than one year | 17 | €25,122 | €16,274 | -€8,848 | -35.2% |
| Financial debts | 170/4 | €25,122 | €16,274 | -€8,848 | -35.2% |
| Amounts payable within one year | 42/48 | €34,573 | €69,170 | +€34,597 | +100.1% |
| Current portion of amounts payable after more than one year | 42 | €8,409 | €8,848 | +€439 | +5.2% |
| Trade debts | 44 | €683 | €16,013 | +€15,330 | +2244.5% |
| Suppliers | 440/4 | €683 | €16,013 | +€15,330 | +2244.5% |
| Taxes, remuneration and social security | 45 | €3,409 | €712 | -€2,697 | -79.1% |
| Taxes | 450/3 | €2,659 | €712 | -€1,947 | -73.2% |
| Remuneration and social security | 454/9 | €750 | €0 | -€750 | -100.0% |
| Other amounts payable | 47/48 | €22,072 | €43,597 | +€21,525 | +97.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,233 | €15,755 | +€7,522 | +91.4% |
| Other operating charges | 640/8 | €3,377 | €5,177 | +€1,800 | +53.3% |
| Gross operating margin | 9900 | -€6,575 | -€5,978 | +€597 | +9.1% |
| Operating profit (loss) | 9901 | -€18,185 | -€26,910 | -€8,725 | -48.0% |
| Financial income | 75/76B | €1 | €16 | +€15 | +1500.0% |
| Recurring financial income | 75 | €1 | €16 | +€15 | +1500.0% |
| Financial charges | 65/66B | €1,921 | €1,689 | -€232 | -12.1% |
| Recurring financial charges | 65 | €1,921 | €1,689 | -€232 | -12.1% |
| Profit (loss) for the period before taxes | 9903 | -€20,105 | -€28,583 | -€8,478 | -42.2% |
| Income taxes | 67/77 | €237 | €475 | +€238 | +100.4% |
| Profit (loss) for the period | 9904 | -€20,342 | -€29,058 | -€8,716 | -42.8% |
| Profit (loss) for the period to be appropriated | 9905 | -€20,342 | -€29,058 | -€8,716 | -42.8% |
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.