LH Build: 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.
LH Build
Largest movements
- Stocks and contracts +€17,584
up €17,584 (+46.6%), from €37,728 to €55,312
- Receivables within one year +€9,830
up €9,830 (+101%), from €9,777 to €19,607
of which Trade receivables: +€17,732
- Cash +€5,248
up €5,248 (+124%), from €4,227 to €9,475
mainly Other debts (+€20,000) and Trade debts (+€14,983)
- Formation expenses -€1,840
down €1,840 (-100%), from €1,840 to €0
- Other debts +€20,000
up €20,000 (+42.8%), from €46,709 to €66,709
- Trade debts +€14,983
up €14,983 (+1,098%), from €1,364 to €16,347
- Profit (loss) carried forward -€3,541
down €3,541 (-53.5%), from -€6,621 to -€10,162
- Financial charges -€1,789
down €1,789 (-93.2%), from €1,920 to €131
- Depreciation -€984
down €984 (-34.9%), from €2,824 to €1,840
- Gross operating margin +€512
up €512 (+27.3%), from -€1,877 to -€1,365
- Other operating charges +€205
new in 2025: €205
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 | €53,571 | €84,394 | +€30,823 | +57.5% |
| Formation expenses | 20 | €1,840 | €0 | -€1,840 | -100% |
| Current assets | 29/58 | €51,731 | €84,394 | +€32,663 | +63.1% |
| Stocks and contracts in progress | 3 | €37,728 | €55,312 | +€17,584 | +46.6% |
| Stocks | 30/36 | €37,728 | €55,312 | +€17,584 | +46.6% |
| Amounts receivable within one year | 40/41 | €9,777 | €19,607 | +€9,830 | +101% |
| Trade receivables | 40 | €1,583 | €19,315 | +€17,732 | +1,120% |
| Other amounts receivable | 41 | €8,193 | €292 | -€7,902 | -96.4% |
| Cash at bank and in hand | 54/58 | €4,227 | €9,475 | +€5,248 | +124% |
| Total equity and liabilities | 10/49 | €53,571 | €84,394 | +€30,823 | +57.5% |
| Equity | 10/15 | €3,379 | -€162 | -€3,541 | |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,621 | -€10,162 | -€3,541 | -53.5% |
| Amounts payable | 17/49 | €50,191 | €84,555 | +€34,364 | +68.5% |
| Amounts payable within one year | 42/48 | €48,626 | €83,055 | +€34,429 | +70.8% |
| Trade debts | 44 | €1,364 | €16,347 | +€14,983 | +1,098% |
| Suppliers | 440/4 | €1,364 | €16,347 | +€14,983 | +1,098% |
| Taxes, remuneration and social security | 45 | €553 | €0 | -€553 | -100% |
| Taxes | 450/3 | €553 | €0 | -€553 | -100% |
| Other amounts payable | 47/48 | €46,709 | €66,709 | +€20,000 | +42.8% |
| Accrued charges and deferred income | 492/3 | €1,565 | €1,500 | -€65 | -4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €2,824 | €1,840 | -€984 | -34.9% |
| Other operating charges | 640/8 | - | €205 | +€205 | |
| Gross operating margin | 9900 | -€1,877 | -€1,365 | +€512 | +27.3% |
| Operating profit (loss) | 9901 | -€4,701 | -€3,410 | +€1,291 | +27.5% |
| Financial charges | 65/66B | €1,920 | €131 | -€1,789 | -93.2% |
| Recurring financial charges | 65 | €1,920 | €131 | -€1,789 | -93.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,621 | -€3,541 | +€3,080 | +46.5% |
| Profit (loss) for the period | 9904 | -€6,621 | -€3,541 | +€3,080 | +46.5% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,621 | -€3,541 | +€3,080 | +46.5% |
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 20 October 2026 via checked.be.