LB INVEST: 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.
What changed
LB INVEST
NACE 55.100, Hotels and similar accommodation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€18,491
2024 · €2,689-€21,180
Equity
€7,046
2024 · €25,537-€18,491
Cash
€3,034
2024 · €4,228-€1,193
Balance sheet total
€657,476
2024 · €703,536-€46,060
Largest movements
Assets
- Tangible fixed assets -€40,183
down €40,183 (-6.2%), from €650,143 to €609,961
of which Land and buildings: -€32,396
Equity and liabilities
- Debts after one year -€26,549
down €26,549 (-16.1%), from €164,861 to €138,312
- Profit (loss) carried forward -€18,491
down €18,491 (-95.6%), from €19,337 to €846
Income statement
- Gross operating margin -€19,988
down €19,988 (-27.6%), from €72,446 to €52,458
- Other operating charges +€2,286
up €2,286 (+145%), from €1,573 to €3,859
- Taxes -€1,116
no longer reported in 2025 (was €1,116)
- Financial charges -€834
down €834 (-17.4%), from €4,783 to €3,949
- Depreciation +€751
up €751 (+1.8%), from €42,566 to €43,318
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.
Result 2024
€2,689
Gross operating margin
-€19,988
Staff costs
-€96
Depreciation
-€751
Other operating charges
-€2,286
Financial income
-€10
Financial charges
+€834
Taxes
+€1,116
Result 2025
-€18,491
raises the resultlowers the result
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.
From operations
+€30,598
Investment
-€3,135
Financing
-€28,657
Cash 2024
€4,228
From operations (derived)
+€30,598
Net result for the year
-€18,491
Depreciation
+€43,318
Stocks and contracts
+€1,500
Receivables within one year
+€2,766
Deferred charges and accrued income
+€418
Trade debts
+€326
Tax, wage and social debts
+€2,311
Advances received
-€4,185
Other debts
+€2,636
Investment (derived)
-€3,135
Investment in fixed assets (net)
-€3,135
Financing
-€28,657
Debts after one year
-€26,549
Current portion of long-term debt
-€2,108
Cash 2025
€3,034
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €703,536 | €657,476 | -€46,060 | -6.5% |
| Fixed assets | 21/28 | €650,143 | €609,961 | -€40,183 | -6.2% |
| Tangible fixed assets | 22/27 | €650,143 | €609,961 | -€40,183 | -6.2% |
| Land and buildings | 22 | €614,303 | €581,908 | -€32,396 | -5.3% |
| Plant, machinery and equipment | 23 | €18,359 | €14,674 | -€3,685 | -20.1% |
| Furniture and vehicles | 24 | €17,481 | €13,379 | -€4,102 | -23.5% |
| Current assets | 29/58 | €53,393 | €47,515 | -€5,877 | -11.0% |
| Stocks and contracts in progress | 3 | €9,500 | €8,000 | -€1,500 | -15.8% |
| Stocks | 30/36 | €9,500 | €8,000 | -€1,500 | -15.8% |
| Amounts receivable within one year | 40/41 | €38,186 | €35,420 | -€2,766 | -7.2% |
| Trade receivables | 40 | €36,396 | €35,387 | -€1,010 | -2.8% |
| Other amounts receivable | 41 | €1,789 | €33 | -€1,756 | -98.1% |
| Cash at bank and in hand | 54/58 | €4,228 | €3,034 | -€1,193 | -28.2% |
| Deferred charges and accrued income | 490/1 | €1,479 | €1,061 | -€418 | -28.2% |
| Total equity and liabilities | 10/49 | €703,536 | €657,476 | -€46,060 | -6.5% |
| Equity | 10/15 | €25,537 | €7,046 | -€18,491 | -72.4% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Profit (loss) carried forward | 14 | €19,337 | €846 | -€18,491 | -95.6% |
| Amounts payable | 17/49 | €677,999 | €650,430 | -€27,569 | -4.1% |
| Amounts payable after more than one year | 17 | €164,861 | €138,312 | -€26,549 | -16.1% |
| Financial debts | 170/4 | €164,861 | €138,312 | -€26,549 | -16.1% |
| Amounts payable within one year | 42/48 | €513,138 | €512,118 | -€1,021 | -0.2% |
| Current portion of amounts payable after more than one year | 42 | €28,657 | €26,549 | -€2,108 | -7.4% |
| Trade debts | 44 | €4,178 | €4,504 | +€326 | +7.8% |
| Suppliers | 440/4 | €4,178 | €4,504 | +€326 | +7.8% |
| Advances received on contracts in progress | 46 | €4,185 | - | -€4,185 | |
| Taxes, remuneration and social security | 45 | €2,087 | €4,398 | +€2,311 | +111% |
| Taxes | 450/3 | €2,087 | €2,459 | +€373 | +17.9% |
| Remuneration and social security | 454/9 | - | €1,938 | +€1,938 | |
| Other amounts payable | 47/48 | €474,031 | €476,667 | +€2,636 | +0.6% |
| Remuneration, social security and pensions | 62 | €18,273 | €18,368 | +€96 | +0.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €42,566 | €43,318 | +€751 | +1.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,500 | €1,500 | = | 0.0% |
| Other operating charges | 640/8 | €1,573 | €3,859 | +€2,286 | +145% |
| Gross operating margin | 9900 | €72,446 | €52,458 | -€19,988 | -27.6% |
| Operating profit (loss) | 9901 | €8,534 | -€14,587 | -€23,121 | |
| Financial income | 75/76B | €55 | €46 | -€10 | -17.2% |
| Recurring financial income | 75 | €55 | €46 | -€10 | -17.2% |
| Financial charges | 65/66B | €4,783 | €3,949 | -€834 | -17.4% |
| Recurring financial charges | 65 | €4,783 | €3,949 | -€834 | -17.4% |
| Profit (loss) for the period before taxes | 9903 | €3,806 | -€18,491 | -€22,296 | |
| Income taxes | 67/77 | €1,116 | - | -€1,116 | |
| Profit (loss) for the period | 9904 | €2,689 | -€18,491 | -€21,180 | |
| Profit (loss) for the period to be appropriated | 9905 | €2,689 | -€18,491 | -€21,180 |
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 29 October 2026 via checked.be.