LCM-PROJECTS: what changed
What changed
LCM-PROJECTS
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · -€412,679+€1.8m
Equity
€21.9m
2024 · €20.5m+€1.4m
Cash
€17,255
2024 · €30,598-€13,343
Balance sheet total
€31.0m
2024 · €30.5m+€491,138
Largest movements
Assets
- Financial fixed assets +€502,459
up €502,459 (+1.9%), from €26.2m to €26.7m
of which Companies linked by participating interests: +€330,754
Equity and liabilities
- Reserves +€1.4m
up €1.4m (+8.4%), from €16.9m to €18.3m
- Other debts -€904,394
down €904,394 (-19.5%), from €4.6m to €3.7m
Income statement
- Financial income +€2.2m
up €2.2m (+1,013%), from €214,976 to €2.4m
of which Financial income: +€2.1m
- Financial charges +€174,000
up €174,000 (+27.6%), from €629,328 to €803,328
of which Non-recurring financial charges: +€212,661
- Services and other goods +€128,622
up €128,622 (+46.9%), from €274,388 to €403,010
- Turnover -€124,742
down €124,742 (-20.3%), from €615,380 to €490,637
- Staff costs -€78,904
down €78,904 (-24.0%), from €328,631 to €249,727
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€412,679
Turnover
-€124,742
Other operating income
+€7,533
Services and other goods
-€128,622
Staff costs
+€78,904
Other operating charges
+€383
Financial income
+€2.2m
Financial charges
-€174,000
Taxes
+€385
Result 2025
€1.4m
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€489,115
Investment
-€502,459
Financing
€0
Cash 2024
€30,598
From operations (derived)
+€489,115
Net result for the year
+€1.4m
Depreciation
+€17,443
Receivables within one year
-€123,734
Deferred charges and accrued income
+€104,268
Trade debts
+€35,131
Tax, wage and social debts
-€18,052
Other debts
-€904,394
Accrued charges and deferred income
-€46,459
Investment (derived)
-€502,459
Investment in fixed assets (net)
-€502,459
Cash 2025
€17,255
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €30,513,555 | €31,004,693 | +€491,138 | +1.6% |
| Fixed assets | 21/28 | €26,474,857 | €26,959,873 | +€485,016 | +1.8% |
| Tangible fixed assets | 22/27 | €321,180 | €303,737 | -€17,443 | -5.4% |
| Furniture and vehicles | 24 | €46,220 | €28,777 | -€17,443 | -37.7% |
| Other tangible fixed assets | 26 | €274,960 | €274,960 | = | 0.0% |
| Financial fixed assets | 28 | €26,153,677 | €26,656,135 | +€502,459 | +1.9% |
| Affiliated companies | 280/1 | €20,126,354 | €20,126,354 | = | 0.0% |
| Participating interests | 280 | €20,126,354 | €20,126,354 | = | 0.0% |
| Companies linked by participating interests | 282/3 | €6,027,323 | €6,358,077 | +€330,754 | +5.5% |
| Participating interests | 282 | €6,027,323 | €6,182,027 | +€154,704 | +2.6% |
| Amounts receivable | 283 | - | €176,050 | +€176,050 | |
| Other financial fixed assets | 284/8 | - | €171,704 | +€171,704 | |
| Shares | 284 | - | €171,704 | +€171,704 | |
| Current assets | 29/58 | €4,038,698 | €4,044,820 | +€6,123 | +0.2% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €3,835,369 | €3,959,103 | +€123,734 | +3.2% |
| Trade receivables | 40 | €4,199 | €7,581 | +€3,383 | +80.6% |
| Other amounts receivable | 41 | €3,831,171 | €3,951,522 | +€120,351 | +3.1% |
| Cash at bank and in hand | 54/58 | €30,598 | €17,255 | -€13,343 | -43.6% |
| Deferred charges and accrued income | 490/1 | €172,730 | €68,462 | -€104,268 | -60.4% |
| Total equity and liabilities | 10/49 | €30,513,555 | €31,004,693 | +€491,138 | +1.6% |
| Equity | 10/15 | €20,479,337 | €21,904,248 | +€1.4m | +7.0% |
| Contributions | 10/11 | €3,587,755 | €3,587,755 | = | 0.0% |
| Reserves | 13 | €16,891,582 | €18,316,493 | +€1.4m | +8.4% |
| Distributable reserves | 133 | €16,891,582 | €18,316,493 | +€1.4m | +8.4% |
| Amounts payable | 17/49 | €10,034,218 | €9,100,445 | -€933,773 | -9.3% |
| Amounts payable after more than one year | 17 | €4,684,770 | €4,684,770 | = | 0.0% |
| Financial debts | 170/4 | €4,684,770 | €4,684,770 | = | 0.0% |
| Subordinated loans | 170 | €4,684,770 | €4,684,770 | = | 0.0% |
| Amounts payable within one year | 42/48 | €4,720,694 | €3,833,379 | -€887,315 | -18.8% |
| Trade debts | 44 | €29,684 | €64,816 | +€35,131 | +118% |
| Suppliers | 440/4 | €29,684 | €64,816 | +€35,131 | +118% |
| Taxes, remuneration and social security | 45 | €57,695 | €39,643 | -€18,052 | -31.3% |
| Taxes | 450/3 | €11,953 | €8,176 | -€3,777 | -31.6% |
| Remuneration and social security | 454/9 | €45,742 | €31,467 | -€14,275 | -31.2% |
| Other amounts payable | 47/48 | €4,633,315 | €3,728,921 | -€904,394 | -19.5% |
| Accrued charges and deferred income | 492/3 | €628,754 | €582,295 | -€46,459 | -7.4% |
| Operating income | 70/76A | €625,985 | €508,776 | -€117,209 | -18.7% |
| Turnover | 70 | €615,380 | €490,637 | -€124,742 | -20.3% |
| Other operating income | 74 | €10,606 | €18,139 | +€7,533 | +71.0% |
| Operating charges | 60/66A | €623,431 | €672,767 | +€49,336 | +7.9% |
| Services and other goods | 61 | €274,388 | €403,010 | +€128,622 | +46.9% |
| Remuneration, social security and pensions | 62 | €328,631 | €249,727 | -€78,904 | -24.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,443 | €17,443 | = | 0.0% |
| Other operating charges | 640/8 | €2,969 | €2,586 | -€383 | -12.9% |
| Operating profit (loss) | 9901 | €2,554 | -€163,991 | -€166,545 | |
| Financial income | 75/76B | €214,976 | €2,392,726 | +€2.2m | +1,013% |
| Recurring financial income | 75 | €167,105 | €2,259,226 | +€2.1m | +1,252% |
| Income from financial fixed assets | 750 | €0 | €2,117,373 | +€2.1m | |
| Income from current assets | 751 | €167,105 | €141,854 | -€25,251 | -15.1% |
| Other financial income | 752/9 | €0 | €0 | +€0 | |
| Non-recurring financial income | 76B | €47,871 | €133,500 | +€85,629 | +179% |
| Financial charges | 65/66B | €629,328 | €803,328 | +€174,000 | +27.6% |
| Recurring financial charges | 65 | €629,328 | €590,666 | -€38,661 | -6.1% |
| Debt charges | 650 | €628,719 | €582,473 | -€46,246 | -7.4% |
| Other financial charges | 652/9 | €609 | €8,194 | +€7,585 | +1,246% |
| Non-recurring financial charges | 66B | €0 | €212,661 | +€212,661 | |
| Profit (loss) for the period before taxes | 9903 | -€411,798 | €1,425,408 | +€1.8m | |
| Income taxes | 67/77 | €882 | €496 | -€385 | -43.7% |
| Taxes | 670/3 | €882 | €496 | -€385 | -43.7% |
| Profit (loss) for the period | 9904 | -€412,679 | €1,424,911 | +€1.8m | |
| Profit (loss) for the period to be appropriated | 9905 | -€412,679 | €1,424,911 | +€1.8m |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 7 November 2026 via checked.be.