LL-CONSTRUCT: 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.
LL-CONSTRUCT
Largest movements
- Tangible fixed assets +€118,582
up €118,582 (+217%), from €54,655 to €173,238
of which Plant, machinery and equipment: +€132,116
- Receivables within one year +€67,560
up €67,560 (+230%), from €29,336 to €96,896
of which Trade receivables: +€71,593
- Cash -€53,097
down €53,097 (-58.4%), from €90,865 to €37,767
mainly Investment in fixed assets (net) (-€154,484) and Receivables within one year (-€67,560)
- Debts after one year +€55,124
up €55,124 (+762%), from €7,237 to €62,361
- Reserves +€37,117
up €37,117 (+28.0%), from €132,611 to €169,728
of which Distributable reserves: +€37,117
- Other debts +€19,755
up €19,755 (+207%), from €9,557 to €29,312
- Trade debts +€11,140
up €11,140 (+200%), from €5,571 to €16,711
- Current portion of long-term debt +€5,327
up €5,327 (+25.7%), from €20,709 to €26,036
- Staff costs +€15,542
new in 2025: €15,542
- Gross operating margin -€11,984
down €11,984 (-8.0%), from €150,184 to €138,200
- Taxes -€11,965
down €11,965 (-37.7%), from €31,772 to €19,807
- Depreciation +€11,519
up €11,519 (+47.2%), from €24,383 to €35,902
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 | €176,686 | €309,854 | +€133,169 | +75.4% |
| Fixed assets | 21/28 | €54,655 | €173,238 | +€118,582 | +217% |
| Tangible fixed assets | 22/27 | €54,655 | €173,238 | +€118,582 | +217% |
| Land and buildings | 22 | €6,952 | €5,220 | -€1,733 | -24.9% |
| Plant, machinery and equipment | 23 | €22,472 | €154,588 | +€132,116 | +588% |
| Furniture and vehicles | 24 | €25,231 | €13,430 | -€11,801 | -46.8% |
| Current assets | 29/58 | €122,030 | €136,617 | +€14,586 | +12.0% |
| Amounts receivable within one year | 40/41 | €29,336 | €96,896 | +€67,560 | +230% |
| Trade receivables | 40 | €15,866 | €87,459 | +€71,593 | +451% |
| Other amounts receivable | 41 | €13,470 | €9,437 | -€4,033 | -29.9% |
| Cash at bank and in hand | 54/58 | €90,865 | €37,767 | -€53,097 | -58.4% |
| Deferred charges and accrued income | 490/1 | €1,829 | €1,953 | +€124 | +6.8% |
| Total equity and liabilities | 10/49 | €176,686 | €309,854 | +€133,169 | +75.4% |
| Equity | 10/15 | €133,611 | €170,728 | +€37,117 | +27.8% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | €132,611 | €169,728 | +€37,117 | +28.0% |
| Non-distributable reserves | 130/1 | €100 | €100 | = | 0.0% |
| Reserves not available under the articles | 1311 | €100 | €100 | = | 0.0% |
| Distributable reserves | 133 | €132,511 | €169,628 | +€37,117 | +28.0% |
| Amounts payable | 17/49 | €43,075 | €139,126 | +€96,052 | +223% |
| Amounts payable after more than one year | 17 | €7,237 | €62,361 | +€55,124 | +762% |
| Financial debts | 170/4 | €7,237 | €62,361 | +€55,124 | +762% |
| Amounts payable within one year | 42/48 | €35,837 | €76,765 | +€40,928 | +114% |
| Current portion of amounts payable after more than one year | 42 | €20,709 | €26,036 | +€5,327 | +25.7% |
| Trade debts | 44 | €5,571 | €16,711 | +€11,140 | +200% |
| Suppliers | 440/4 | €5,571 | €16,711 | +€11,140 | +200% |
| Taxes, remuneration and social security | 45 | - | €4,706 | +€4,706 | |
| Remuneration and social security | 454/9 | - | €4,706 | +€4,706 | |
| Other amounts payable | 47/48 | €9,557 | €29,312 | +€19,755 | +207% |
| Non-recurring operating income | 76A | - | €6,728 | +€6,728 | |
| Remuneration, social security and pensions | 62 | - | €15,542 | +€15,542 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,383 | €35,902 | +€11,519 | +47.2% |
| Other operating charges | 640/8 | €2,049 | €1,236 | -€813 | -39.7% |
| Gross operating margin | 9900 | €150,184 | €138,200 | -€11,984 | -8.0% |
| Operating profit (loss) | 9901 | €123,752 | €85,520 | -€38,233 | -30.9% |
| Financial income | 75/76B | €0 | €4 | +€4 | +3,940% |
| Recurring financial income | 75 | €0 | €4 | +€4 | +3,940% |
| Financial charges | 65/66B | €3,900 | €5,071 | +€1,170 | +30.0% |
| Recurring financial charges | 65 | €3,900 | €5,071 | +€1,170 | +30.0% |
| Profit (loss) for the period before taxes | 9903 | €119,852 | €80,453 | -€39,399 | -32.9% |
| Income taxes | 67/77 | €31,772 | €19,807 | -€11,965 | -37.7% |
| Profit (loss) for the period | 9904 | €88,080 | €60,646 | -€27,434 | -31.1% |
| Profit (loss) for the period to be appropriated | 9905 | €88,080 | €60,646 | -€27,434 | -31.1% |
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 18 October 2026 via checked.be.