LBD-Projects: 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.
LBD-Projects
Largest movements
- Receivables after one year +€142,000
up €142,000 (+29.7%), from €478,000 to €620,000
- Tangible fixed assets -€59,424
down €59,424 (-10.3%), from €579,611 to €520,187
of which Other tangible fixed assets: -€30,000
- Receivables within one year +€52,073
up €52,073 (+83.5%), from €62,363 to €114,437
of which Other amounts receivable: +€51,023
- Reserves +€124,743
up €124,743 (+28.5%), from €438,299 to €563,043
- Tax, wage and social debts +€53,126
up €53,126 (+55.2%), from €96,167 to €149,294
of which Taxes: +€52,133
- Debts after one year -€38,853
down €38,853 (-7.6%), from €512,948 to €474,094
- Gross operating margin +€81,548
up €81,548 (+37.3%), from €218,683 to €300,232
- Taxes +€35,197
up €35,197 (+63.1%), from €55,780 to €90,977
- Other operating charges +€23,913
up €23,913 (+1078.4%), from €2,218 to €26,130
- Depreciation -€13,584
down €13,584 (-35.1%), from €38,713 to €25,130
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 | €1,125,045 | €1,258,656 | +€133,610 | +11.9% |
| Fixed assets | 21/28 | €581,861 | €522,437 | -€59,424 | -10.2% |
| Tangible fixed assets | 22/27 | €579,611 | €520,187 | -€59,424 | -10.3% |
| Land and buildings | 22 | €527,908 | €513,347 | -€14,561 | -2.8% |
| Plant, machinery and equipment | 23 | €1,654 | €6,840 | +€5,186 | +313.5% |
| Furniture and vehicles | 24 | €20,049 | €0 | -€20,049 | -100.0% |
| Other tangible fixed assets | 26 | €30,000 | €0 | -€30,000 | -100.0% |
| Financial fixed assets | 28 | €2,250 | €2,250 | = | 0.0% |
| Current assets | 29/58 | €543,184 | €736,219 | +€193,034 | +35.5% |
| Amounts receivable after more than one year | 29 | €478,000 | €620,000 | +€142,000 | +29.7% |
| Other amounts receivable | 291 | €478,000 | €620,000 | +€142,000 | +29.7% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €62,363 | €114,437 | +€52,073 | +83.5% |
| Trade receivables | 40 | €56,797 | €57,847 | +€1,050 | +1.8% |
| Other amounts receivable | 41 | €5,566 | €56,589 | +€51,023 | +916.7% |
| Cash at bank and in hand | 54/58 | €2,571 | €634 | -€1,937 | -75.3% |
| Deferred charges and accrued income | 490/1 | €250 | €1,148 | +€898 | +359.2% |
| Total equity and liabilities | 10/49 | €1,125,045 | €1,258,656 | +€133,610 | +11.9% |
| Equity | 10/15 | €443,299 | €568,043 | +€124,743 | +28.1% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €438,299 | €563,043 | +€124,743 | +28.5% |
| Distributable reserves | 133 | €438,299 | €563,043 | +€124,743 | +28.5% |
| Amounts payable | 17/49 | €681,746 | €690,613 | +€8,867 | +1.3% |
| Amounts payable after more than one year | 17 | €512,948 | €474,094 | -€38,853 | -7.6% |
| Financial debts | 170/4 | €512,948 | €474,094 | -€38,853 | -7.6% |
| Amounts payable within one year | 42/48 | €168,798 | €216,519 | +€47,720 | +28.3% |
| Current portion of amounts payable after more than one year | 42 | €57,451 | €55,898 | -€1,553 | -2.7% |
| Financial debts | 43 | €0 | €31 | +€31 | |
| Credit institutions | 430/8 | €0 | €31 | +€31 | |
| Trade debts | 44 | €11,591 | €5,428 | -€6,163 | -53.2% |
| Suppliers | 440/4 | €11,591 | €5,428 | -€6,163 | -53.2% |
| Taxes, remuneration and social security | 45 | €96,167 | €149,294 | +€53,126 | +55.2% |
| Taxes | 450/3 | €96,167 | €148,300 | +€52,133 | +54.2% |
| Remuneration and social security | 454/9 | - | €993 | +€993 | |
| Other amounts payable | 47/48 | €3,589 | €5,868 | +€2,279 | +63.5% |
| Non-recurring operating income | 76A | €592 | €37,001 | +€36,409 | +6153.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €38,713 | €25,130 | -€13,584 | -35.1% |
| Other operating charges | 640/8 | €2,218 | €26,130 | +€23,913 | +1078.4% |
| Non-recurring operating charges | 66A | - | €30,000 | +€30,000 | |
| Gross operating margin | 9900 | €218,683 | €300,232 | +€81,548 | +37.3% |
| Operating profit (loss) | 9901 | €177,753 | €218,972 | +€41,219 | +23.2% |
| Financial income | 75/76B | €8,973 | €11,498 | +€2,525 | +28.1% |
| Recurring financial income | 75 | €8,973 | €11,498 | +€2,525 | +28.1% |
| Financial charges | 65/66B | €12,759 | €14,749 | +€1,990 | +15.6% |
| Recurring financial charges | 65 | €12,759 | €14,749 | +€1,990 | +15.6% |
| Profit (loss) for the period before taxes | 9903 | €173,966 | €215,721 | +€41,754 | +24.0% |
| Income taxes | 67/77 | €55,780 | €90,977 | +€35,197 | +63.1% |
| Profit (loss) for the period | 9904 | €118,186 | €124,743 | +€6,557 | +5.5% |
| Profit (loss) for the period to be appropriated | 9905 | €118,186 | €124,743 | +€6,557 | +5.5% |
Source: filed annual accounts (NBB), fiscal years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.