LOTHIAN DEVELOPMENTS III: 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.
LOTHIAN DEVELOPMENTS III
Largest movements
- Receivables after one year -€4.0m
down €4.0m (-99.8%), from €4.0m to €7,872
- Tangible fixed assets -€534,541
down €534,541 (-5.0%), from €10.7m to €10.2m
of which Land and buildings: -€649,388
- Cash -€419,549
down €419,549 (-38.1%), from €1.1m to €681,801
mainly Current portion of long-term debt (-€5.1m) and Net result for the year (-€959,234)
- Receivables within one year -€206,587
down €206,587 (-99.1%), from €208,418 to €1,831
- Current portion of long-term debt -€5.1m
down €5.1m (-43.8%), from €11.7m to €6.6m
- Profit (loss) carried forward -€959,235
down €959,235 (-50.1%), from -€1.9m to -€2.9m
- Other debts +€889,586
new in 2025: €889,586
- Advances received -€194,335
down €194,335 (-100.0%), from €194,335 to €0
- Tax, wage and social debts +€168,399
up €168,399 (+1729.5%), from €9,737 to €178,136
- Gross operating margin -€748,895
down €748,895 (-40.1%), from €1.9m to €1.1m
- Financial charges -€254,283
down €254,283 (-36.6%), from €695,333 to €441,050
- Other operating charges +€152,691
up €152,691 (+25.3%), from €604,269 to €756,960
- Financial income -€47,679
down €47,679 (-60.6%), from €78,712 to €31,033
- Depreciation +€36,057
up €36,057 (+4.1%), from €875,347 to €911,404
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 | €16,281,581 | €11,134,299 | -€5.1m | -31.6% |
| Fixed assets | 21/28 | €10,737,826 | €10,203,285 | -€534,541 | -5.0% |
| Tangible fixed assets | 22/27 | €10,737,826 | €10,203,285 | -€534,541 | -5.0% |
| Land and buildings | 22 | €9,372,212 | €8,722,824 | -€649,388 | -6.9% |
| Plant, machinery and equipment | 23 | €1,217,813 | €1,480,461 | +€262,648 | +21.6% |
| Assets under construction and advance payments | 27 | €147,801 | €0 | -€147,801 | -100.0% |
| Current assets | 29/58 | €5,543,755 | €931,014 | -€4.6m | -83.2% |
| Amounts receivable after more than one year | 29 | €4,000,158 | €7,872 | -€4.0m | -99.8% |
| Other amounts receivable | 291 | €4,000,158 | €7,872 | -€4.0m | -99.8% |
| Amounts receivable within one year | 40/41 | €208,418 | €1,831 | -€206,587 | -99.1% |
| Trade receivables | 40 | €208,418 | €1,831 | -€206,587 | -99.1% |
| Cash at bank and in hand | 54/58 | €1,101,350 | €681,801 | -€419,549 | -38.1% |
| Deferred charges and accrued income | 490/1 | €233,829 | €239,509 | +€5,680 | +2.4% |
| Total equity and liabilities | 10/49 | €16,281,581 | €11,134,299 | -€5.1m | -31.6% |
| Equity | 10/15 | €4,081,474 | €3,122,239 | -€959,235 | -23.5% |
| Contributions | 10/11 | €5,994,571 | €5,994,571 | +€0 | 0.0% |
| Capital | 10 | €5,994,571 | €5,994,571 | +€0 | 0.0% |
| Issued capital | 100 | €5,994,571 | €5,994,571 | +€0 | 0.0% |
| Profit (loss) carried forward | 14 | -€1,913,097 | -€2,872,332 | -€959,235 | -50.1% |
| Amounts payable | 17/49 | €12,200,107 | €8,012,060 | -€4.2m | -34.3% |
| Amounts payable within one year | 42/48 | €12,047,088 | €7,702,382 | -€4.3m | -36.1% |
| Current portion of amounts payable after more than one year | 42 | €11,748,000 | €6,600,000 | -€5.1m | -43.8% |
| Trade debts | 44 | €95,016 | €34,660 | -€60,356 | -63.5% |
| Suppliers | 440/4 | €95,016 | €34,660 | -€60,356 | -63.5% |
| Advances received on contracts in progress | 46 | €194,335 | €0 | -€194,335 | -100.0% |
| Taxes, remuneration and social security | 45 | €9,737 | €178,136 | +€168,399 | +1729.5% |
| Taxes | 450/3 | €9,737 | €178,136 | +€168,399 | +1729.5% |
| Other amounts payable | 47/48 | - | €889,586 | +€889,586 | |
| Accrued charges and deferred income | 492/3 | €153,019 | €309,678 | +€156,659 | +102.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €875,347 | €911,404 | +€36,057 | +4.1% |
| Other operating charges | 640/8 | €604,269 | €756,960 | +€152,691 | +25.3% |
| Gross operating margin | 9900 | €1,868,043 | €1,119,148 | -€748,895 | -40.1% |
| Operating profit (loss) | 9901 | €388,427 | -€549,217 | -€937,644 | |
| Financial income | 75/76B | €78,712 | €31,033 | -€47,679 | -60.6% |
| Recurring financial income | 75 | €78,712 | €31,033 | -€47,679 | -60.6% |
| Financial charges | 65/66B | €695,333 | €441,050 | -€254,283 | -36.6% |
| Recurring financial charges | 65 | €695,333 | €441,050 | -€254,283 | -36.6% |
| Profit (loss) for the period before taxes | 9903 | -€228,194 | -€959,234 | -€731,040 | -320.4% |
| Profit (loss) for the period | 9904 | -€228,194 | -€959,234 | -€731,040 | -320.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€228,194 | -€959,234 | -€731,040 | -320.4% |
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 10 October 2026 via checked.be.