LB&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.
LB&T
Largest movements
- Cash -€61,683
down €61,683 (-64.8%), from €95,153 to €33,470
mainly Other debts (-€50,782) and Investment in fixed assets (net) (-€27,678)
- Tangible fixed assets -€16,415
down €16,415 (-6.1%), from €269,753 to €253,338
of which Land and buildings: -€9,942
- Other debts -€50,782
down €50,782 (-64.0%), from €79,308 to €28,526
- Debts after one year -€20,946
down €20,946 (-27.1%), from €77,182 to €56,236
- Gross operating margin -€24,849
down €24,849 (-29.4%), from €84,525 to €59,676
- Depreciation -€9,783
down €9,783 (-18.2%), from €53,875 to €44,093
- Taxes -€2,645
down €2,645 (-63.4%), from €4,174 to €1,529
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 | €376,509 | €300,886 | -€75,622 | -20.1% |
| Fixed assets | 21/28 | €269,753 | €253,338 | -€16,415 | -6.1% |
| Tangible fixed assets | 22/27 | €269,753 | €253,338 | -€16,415 | -6.1% |
| Land and buildings | 22 | €205,796 | €195,854 | -€9,942 | -4.8% |
| Plant, machinery and equipment | 23 | €14,694 | €5,800 | -€8,893 | -60.5% |
| Furniture and vehicles | 24 | €49,264 | €51,685 | +€2,421 | +4.9% |
| Current assets | 29/58 | €106,755 | €47,548 | -€59,208 | -55.5% |
| Stocks and contracts in progress | 3 | €6,728 | €6,650 | -€77 | -1.1% |
| Stocks | 30/36 | €6,728 | €6,650 | -€77 | -1.1% |
| Amounts receivable within one year | 40/41 | €3,850 | €4,797 | +€947 | +24.6% |
| Trade receivables | 40 | €241 | - | -€241 | |
| Other amounts receivable | 41 | €3,609 | €4,797 | +€1,188 | +32.9% |
| Cash at bank and in hand | 54/58 | €95,153 | €33,470 | -€61,683 | -64.8% |
| Deferred charges and accrued income | 490/1 | €1,025 | €2,630 | +€1,606 | +157% |
| Total equity and liabilities | 10/49 | €376,509 | €300,886 | -€75,622 | -20.1% |
| Equity | 10/15 | €188,162 | €185,321 | -€2,841 | -1.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €169,562 | €166,721 | -€2,841 | -1.7% |
| Distributable reserves | 133 | €169,562 | €166,721 | -€2,841 | -1.7% |
| Amounts payable | 17/49 | €188,346 | €115,565 | -€72,781 | -38.6% |
| Amounts payable after more than one year | 17 | €77,182 | €56,236 | -€20,946 | -27.1% |
| Financial debts | 170/4 | €77,182 | €56,236 | -€20,946 | -27.1% |
| Amounts payable within one year | 42/48 | €111,164 | €59,329 | -€51,836 | -46.6% |
| Current portion of amounts payable after more than one year | 42 | €20,501 | €20,946 | +€445 | +2.2% |
| Trade debts | 44 | €6,527 | €3,662 | -€2,864 | -43.9% |
| Suppliers | 440/4 | €6,527 | €3,662 | -€2,864 | -43.9% |
| Taxes, remuneration and social security | 45 | €4,829 | €6,195 | +€1,366 | +28.3% |
| Taxes | 450/3 | €316 | €1,682 | +€1,366 | +432% |
| Remuneration and social security | 454/9 | €4,513 | €4,513 | = | 0.0% |
| Other amounts payable | 47/48 | €79,308 | €28,526 | -€50,782 | -64.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,875 | €44,093 | -€9,783 | -18.2% |
| Other operating charges | 640/8 | €3,369 | €3,600 | +€231 | +6.9% |
| Gross operating margin | 9900 | €84,525 | €59,676 | -€24,849 | -29.4% |
| Operating profit (loss) | 9901 | €27,281 | €11,984 | -€15,297 | -56.1% |
| Financial income | 75/76B | €0 | €331 | +€331 | +132,264% |
| Recurring financial income | 75 | €0 | €331 | +€331 | +132,264% |
| Financial charges | 65/66B | €6,690 | €7,101 | +€410 | +6.1% |
| Recurring financial charges | 65 | €6,690 | €7,101 | +€410 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €20,591 | €5,215 | -€15,377 | -74.7% |
| Income taxes | 67/77 | €4,174 | €1,529 | -€2,645 | -63.4% |
| Profit (loss) for the period | 9904 | €16,417 | €3,686 | -€12,731 | -77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €16,417 | €3,686 | -€12,731 | -77.5% |
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 15 October 2026 via checked.be.