LT-INVEST: what changed
What changed
LT-INVEST
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€577,330
2025 · €566,543+€10,787
Equity
€3.4m
2025 · €2.8m+€577,330
Cash
€1.0m
2025 · €17,567+€1.0m
Balance sheet total
€5.8m
2025 · €5.5m+€312,387
Largest movements
Assets
- Cash +€1.0m
up €1.0m (+5,834%), from €17,567 to €1.0m
mainly Investment in fixed assets (net) (+€860,044) and Net result for the year (+€577,330)
- Financial fixed assets -€910,000
down €910,000 (-35.6%), from €2.6m to €1.6m
- Receivables within one year +€194,608
up €194,608 (+8.9%), from €2.2m to €2.4m
of which Trade receivables: +€168,483
Equity and liabilities
- Reserves +€577,330
up €577,330 (+20.7%), from €2.8m to €3.4m
of which Distributable reserves: +€366,830
- Debts after one year -€346,492
down €346,492 (-25.7%), from €1.3m to €1.0m
- Other debts +€101,629
up €101,629 (+12.7%), from €801,344 to €902,973
Income statement
- Financial charges +€64,918
up €64,918 (+60.9%), from €106,556 to €171,475
of which Non-recurring financial charges: +€70,149
- Staff costs -€59,039
down €59,039 (-99.5%), from €59,322 to €284
- Financial income +€46,527
up €46,527 (+11.9%), from €390,433 to €436,960
- Gross operating margin -€39,674
down €39,674 (-7.9%), from €502,378 to €462,705
- Depreciation -€26,899
down €26,899 (-29.4%), from €91,490 to €64,591
Change in the result, 2025 to 2026
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 2025
€566,543
Gross operating margin
-€39,674
Staff costs
+€59,039
Depreciation
+€26,899
Other operating charges
-€419
Financial income
+€46,527
Financial charges
-€64,918
Taxes
-€16,667
Result 2026
€577,330
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€513,864
Investment
+€860,044
Financing
-€348,991
Cash 2025
€17,567
From operations (derived)
+€513,864
Net result for the year
+€577,330
Depreciation
+€64,591
Receivables within one year
-€194,608
Deferred charges and accrued income
-€17,498
Trade debts
+€5,151
Tax, wage and social debts
-€32,448
Other debts
+€101,629
Accrued charges and deferred income
+€9,717
Investment (derived)
+€860,044
Investment in fixed assets (net)
+€860,044
Financing
-€348,991
Debts after one year
-€346,492
Current portion of long-term debt
-€2,499
Cash 2026
€1.0m
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,495,545 | €5,807,933 | +€312,387 | +5.7% |
| Fixed assets | 21/28 | €3,273,280 | €2,348,645 | -€924,635 | -28.2% |
| Tangible fixed assets | 22/27 | €713,586 | €698,951 | -€14,635 | -2.1% |
| Land and buildings | 22 | €427,573 | €403,474 | -€24,099 | -5.6% |
| Plant, machinery and equipment | 23 | €240,160 | €211,695 | -€28,465 | -11.9% |
| Furniture and vehicles | 24 | €45,852 | €35,187 | -€10,666 | -23.3% |
| Leasing and similar rights | 25 | - | €48,595 | +€48,595 | |
| Assets under construction and advance payments | 27 | €0 | - | = | |
| Financial fixed assets | 28 | €2,559,694 | €1,649,694 | -€910,000 | -35.6% |
| Current assets | 29/58 | €2,222,266 | €3,459,288 | +€1.2m | +55.7% |
| Amounts receivable within one year | 40/41 | €2,198,500 | €2,393,108 | +€194,608 | +8.9% |
| Trade receivables | 40 | €92,626 | €261,108 | +€168,483 | +182% |
| Other amounts receivable | 41 | €2,105,874 | €2,132,000 | +€26,126 | +1.2% |
| Cash at bank and in hand | 54/58 | €17,567 | €1,042,483 | +€1.0m | +5,834% |
| Deferred charges and accrued income | 490/1 | €6,199 | €23,696 | +€17,498 | +282% |
| Total equity and liabilities | 10/49 | €5,495,545 | €5,807,933 | +€312,387 | +5.7% |
| Equity | 10/15 | €2,810,370 | €3,387,700 | +€577,330 | +20.5% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €2,790,370 | €3,367,700 | +€577,330 | +20.7% |
| Tax-exempt reserves | 132 | €252,600 | €463,100 | +€210,500 | +83.3% |
| Distributable reserves | 133 | €2,537,770 | €2,904,600 | +€366,830 | +14.5% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Amounts payable | 17/49 | €2,685,175 | €2,420,232 | -€264,943 | -9.9% |
| Amounts payable after more than one year | 17 | €1,347,044 | €1,000,551 | -€346,492 | -25.7% |
| Financial debts | 170/4 | €1,347,044 | €1,000,551 | -€346,492 | -25.7% |
| Amounts payable within one year | 42/48 | €1,336,575 | €1,408,408 | +€71,833 | +5.4% |
| Current portion of amounts payable after more than one year | 42 | €385,108 | €382,609 | -€2,499 | -0.6% |
| Trade debts | 44 | €74,362 | €79,513 | +€5,151 | +6.9% |
| Suppliers | 440/4 | €74,362 | €79,513 | +€5,151 | +6.9% |
| Taxes, remuneration and social security | 45 | €75,761 | €43,313 | -€32,448 | -42.8% |
| Taxes | 450/3 | €64,481 | €41,213 | -€23,268 | -36.1% |
| Remuneration and social security | 454/9 | €11,280 | €2,100 | -€9,180 | -81.4% |
| Other amounts payable | 47/48 | €801,344 | €902,973 | +€101,629 | +12.7% |
| Accrued charges and deferred income | 492/3 | €1,556 | €11,273 | +€9,717 | +624% |
| Remuneration, social security and pensions | 62 | €59,322 | €284 | -€59,039 | -99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €91,490 | €64,591 | -€26,899 | -29.4% |
| Other operating charges | 640/8 | €2,774 | €3,192 | +€419 | +15.1% |
| Gross operating margin | 9900 | €502,378 | €462,705 | -€39,674 | -7.9% |
| Operating profit (loss) | 9901 | €348,792 | €394,637 | +€45,845 | +13.1% |
| Financial income | 75/76B | €390,433 | €436,960 | +€46,527 | +11.9% |
| Recurring financial income | 75 | €390,433 | €436,960 | +€46,527 | +11.9% |
| Financial charges | 65/66B | €106,556 | €171,475 | +€64,918 | +60.9% |
| Recurring financial charges | 65 | €106,556 | €101,325 | -€5,231 | -4.9% |
| Non-recurring financial charges | 66B | - | €70,149 | +€70,149 | |
| Profit (loss) for the period before taxes | 9903 | €632,669 | €660,123 | +€27,454 | +4.3% |
| Income taxes | 67/77 | €66,126 | €82,793 | +€16,667 | +25.2% |
| Profit (loss) for the period | 9904 | €566,543 | €577,330 | +€10,787 | +1.9% |
| Transfer to tax-exempt reserves | 689 | €252,600 | €210,500 | -€42,100 | -16.7% |
| Profit (loss) for the period to be appropriated | 9905 | €313,943 | €366,830 | +€52,887 | +16.8% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.