LC ESTATE: 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.
LC ESTATE
Largest movements
- Receivables within one year +€617,756
up €617,756 (+526%), from €117,360 to €735,115
of which Other amounts receivable: +€593,556
- Tangible fixed assets -€38,967
down €38,967 (-6.8%), from €569,428 to €530,460
of which Furniture and vehicles: -€25,324
- Cash -€15,332
down €15,332 (-11.2%), from €136,819 to €121,488
mainly Receivables within one year (-€617,756) and Investment in fixed assets (net) (-€6,597)
- Reserves +€542,664
up €542,664 (+73.1%), from €742,260 to €1.3m
of which Distributable reserves: +€542,664
- Tax, wage and social debts +€21,492
up €21,492 (+47.9%), from €44,850 to €66,342
- Financial income +€294,483
up €294,483 (+140%), from €210,017 to €504,500
- Gross operating margin -€31,137
down €31,137 (-15.3%), from €203,455 to €172,318
- Depreciation +€16,219
up €16,219 (+55.3%), from €29,345 to €45,564
- Taxes +€11,081
up €11,081 (+15.2%), from €72,880 to €83,961
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 | €838,321 | €1,401,485 | +€563,164 | +67.2% |
| Fixed assets | 21/28 | €579,428 | €540,460 | -€38,967 | -6.7% |
| Tangible fixed assets | 22/27 | €569,428 | €530,460 | -€38,967 | -6.8% |
| Land and buildings | 22 | €402,327 | €387,603 | -€14,724 | -3.7% |
| Plant, machinery and equipment | 23 | €1,450 | €2,530 | +€1,080 | +74.5% |
| Furniture and vehicles | 24 | €137,151 | €111,827 | -€25,324 | -18.5% |
| Other tangible fixed assets | 26 | €28,500 | €28,500 | = | 0.0% |
| Financial fixed assets | 28 | €10,000 | €10,000 | = | 0.0% |
| Current assets | 29/58 | €258,893 | €861,025 | +€602,132 | +233% |
| Amounts receivable within one year | 40/41 | €117,360 | €735,115 | +€617,756 | +526% |
| Trade receivables | 40 | - | €24,200 | +€24,200 | |
| Other amounts receivable | 41 | €117,360 | €710,915 | +€593,556 | +506% |
| Cash at bank and in hand | 54/58 | €136,819 | €121,488 | -€15,332 | -11.2% |
| Deferred charges and accrued income | 490/1 | €4,714 | €4,422 | -€292 | -6.2% |
| Total equity and liabilities | 10/49 | €838,321 | €1,401,485 | +€563,164 | +67.2% |
| Equity | 10/15 | €748,460 | €1,291,124 | +€542,664 | +72.5% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €742,260 | €1,284,924 | +€542,664 | +73.1% |
| Tax-exempt reserves | 132 | €37,500 | €37,500 | = | 0.0% |
| Distributable reserves | 133 | €704,760 | €1,247,424 | +€542,664 | +77.0% |
| Provisions and deferred taxes | 16 | €43,100 | €43,100 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €43,100 | €43,100 | = | 0.0% |
| Pensions and similar obligations | 160 | €43,100 | €43,100 | = | 0.0% |
| Amounts payable | 17/49 | €46,762 | €67,262 | +€20,500 | +43.8% |
| Amounts payable within one year | 42/48 | €46,762 | €67,262 | +€20,500 | +43.8% |
| Trade debts | 44 | €1,911 | €919 | -€992 | -51.9% |
| Suppliers | 440/4 | €1,911 | €919 | -€992 | -51.9% |
| Taxes, remuneration and social security | 45 | €44,850 | €66,342 | +€21,492 | +47.9% |
| Taxes | 450/3 | €44,850 | €66,342 | +€21,492 | +47.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,345 | €45,564 | +€16,219 | +55.3% |
| Other operating charges | 640/8 | €5,326 | €3,908 | -€1,417 | -26.6% |
| Gross operating margin | 9900 | €203,455 | €172,318 | -€31,137 | -15.3% |
| Operating profit (loss) | 9901 | €168,784 | €122,846 | -€45,938 | -27.2% |
| Financial income | 75/76B | €210,017 | €504,500 | +€294,483 | +140% |
| Recurring financial income | 75 | €210,017 | €504,500 | +€294,483 | +140% |
| Financial charges | 65/66B | €161 | €721 | +€560 | +347% |
| Recurring financial charges | 65 | €161 | €721 | +€560 | +347% |
| Profit (loss) for the period before taxes | 9903 | €378,640 | €626,625 | +€247,985 | +65.5% |
| Income taxes | 67/77 | €72,880 | €83,961 | +€11,081 | +15.2% |
| Profit (loss) for the period | 9904 | €305,760 | €542,664 | +€236,905 | +77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €305,760 | €542,664 | +€236,905 | +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 24 October 2026 via checked.be.