LetsBuild Holding: 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.
LetsBuild Holding
Largest movements
- Financial fixed assets -€26.9m
down €26.9m (-100.0%), from €26.9m to €0
- Receivables within one year -€13.9m
down €13.9m (-97.8%), from €14.3m to €307,614
of which Trade receivables: -€13.9m
- Cash +€2.8m
up €2.8m (+694.0%), from €403,511 to €3.2m
mainly Investment in fixed assets (net) (+€26.9m) and Receivables within one year (+€13.9m)
- Profit (loss) carried forward -€37.0m
down €37.0m (-704.2%), from -€5.3m to -€42.3m
- Debts after one year -€999,988
down €999,988 (-100.0%), from €999,988 to €0
- Tax, wage and social debts +€946,516
up €946,516 (+5005.6%), from €18,909 to €965,425
- Current portion of long-term debt -€549,926
down €549,926 (-100.0%), from €549,926 to €0
- Trade debts -€419,973
down €419,973 (-47.6%), from €882,913 to €462,940
- Financial charges +€20.9m
up €20.9m (+17371.5%), from €120,054 to €21.0m
of which Non-recurring financial charges: +€20.7m
- Financial income -€1.8m
down €1.8m (-100.0%), from €1.8m to €0
- Gross operating margin -€414,197
down €414,197 (-116.7%), from -€355,059 to -€769,256
- Other operating charges +€114,107
new in 2025: €114,107
- Taxes -€18,909
down €18,909 (-100.0%), from €18,909 to €0
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 | €41,581,265 | €3,531,175 | -€38.1m | -91.5% |
| Fixed assets | 21/28 | €26,887,880 | €0 | -€26.9m | -100.0% |
| Financial fixed assets | 28 | €26,887,880 | €0 | -€26.9m | -100.0% |
| Current assets | 29/58 | €14,693,385 | €3,531,175 | -€11.2m | -76.0% |
| Amounts receivable within one year | 40/41 | €14,256,381 | €307,614 | -€13.9m | -97.8% |
| Trade receivables | 40 | €14,234,567 | €307,614 | -€13.9m | -97.8% |
| Other amounts receivable | 41 | €21,814 | €0 | -€21,814 | -100.0% |
| Cash at bank and in hand | 54/58 | €403,511 | €3,203,780 | +€2.8m | +694.0% |
| Deferred charges and accrued income | 490/1 | €33,493 | €19,781 | -€13,712 | -40.9% |
| Total equity and liabilities | 10/49 | €41,581,265 | €3,531,175 | -€38.1m | -91.5% |
| Equity | 10/15 | €39,129,529 | €2,102,810 | -€37.0m | -94.6% |
| Contributions | 10/11 | €44,387,210 | €44,387,210 | = | 0.0% |
| Capital | 10 | €30,457,206 | €30,457,206 | = | 0.0% |
| Issued capital | 100 | €30,457,206 | €30,457,206 | = | 0.0% |
| Outside capital | 11 | €13,930,004 | €13,930,004 | = | 0.0% |
| Share premium | 1100/10 | €13,930,004 | €13,930,004 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€5,257,682 | -€42,284,400 | -€37.0m | -704.2% |
| Amounts payable | 17/49 | €2,451,736 | €1,428,365 | -€1.0m | -41.7% |
| Amounts payable after more than one year | 17 | €999,988 | €0 | -€999,988 | -100.0% |
| Financial debts | 170/4 | €999,988 | €0 | -€999,988 | -100.0% |
| Amounts payable within one year | 42/48 | €1,451,748 | €1,428,365 | -€23,384 | -1.6% |
| Current portion of amounts payable after more than one year | 42 | €549,926 | €0 | -€549,926 | -100.0% |
| Trade debts | 44 | €882,913 | €462,940 | -€419,973 | -47.6% |
| Suppliers | 440/4 | €882,913 | €462,940 | -€419,973 | -47.6% |
| Taxes, remuneration and social security | 45 | €18,909 | €965,425 | +€946,516 | +5005.6% |
| Taxes | 450/3 | €18,909 | €965,425 | +€946,516 | +5005.6% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Other operating charges | 640/8 | - | €114,107 | +€114,107 | |
| Non-recurring operating charges | 66A | - | €15,168,211 | +€15.2m | |
| Gross operating margin | 9900 | -€355,059 | -€769,256 | -€414,197 | -116.7% |
| Operating profit (loss) | 9901 | -€355,059 | -€16,051,574 | -€15.7m | -4420.8% |
| Financial income | 75/76B | €1,840,904 | €0 | -€1.8m | -100.0% |
| Recurring financial income | 75 | €1,840,904 | €0 | -€1.8m | -100.0% |
| Financial charges | 65/66B | €120,054 | €20,975,145 | +€20.9m | +17371.5% |
| Recurring financial charges | 65 | €120,054 | €266,393 | +€146,339 | +121.9% |
| Non-recurring financial charges | 66B | - | €20,708,752 | +€20.7m | |
| Profit (loss) for the period before taxes | 9903 | €1,365,792 | -€37,026,719 | -€38.4m | |
| Income taxes | 67/77 | €18,909 | €0 | -€18,909 | -100.0% |
| Profit (loss) for the period | 9904 | €1,346,882 | -€37,026,719 | -€38.4m | |
| Profit (loss) for the period to be appropriated | 9905 | €1,346,882 | -€37,026,719 | -€38.4m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.