LTC Invest: what changed
LTC Invest
Largest movements
- Tangible fixed assets -€201,573
down €201,573 (-32.3%), from €624,624 to €423,051
of which Land and buildings: -€175,668
- Cash +€17,970
up €17,970 (+536%), from €3,354 to €21,325
mainly Investment in fixed assets (net) (+€184,758) and Net result for the year (+€31,120)
- Receivables within one year -€8,323
down €8,323 (-84.0%), from €9,911 to €1,588
of which Trade receivables: -€9,911
- Debts after one year -€150,760
down €150,760 (-32.4%), from €465,877 to €315,117
- Other debts -€40,688
down €40,688 (-75.9%), from €53,618 to €12,930
- Profit (loss) carried forward +€16,120
new in 2025: €16,120
- Tax, wage and social debts -€8,890
down €8,890 (-59.4%), from €14,974 to €6,085
- Current portion of long-term debt -€8,258
down €8,258 (-28.0%), from €29,472 to €21,214
- Gross operating margin +€30,874
up €30,874 (+63.8%), from €48,414 to €79,288
- Depreciation -€13,333
down €13,333 (-43.6%), from €30,599 to €17,266
- Taxes +€10,182
up €10,182 (+2,587%), from €394 to €10,576
- Other operating charges +€5,339
up €5,339 (+254%), from €2,102 to €7,441
- Financial charges +€883
up €883 (+7.4%), from €12,003 to €12,886
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €639,014 | €446,638 | -€192,376 | -30.1% |
| Fixed assets | 21/28 | €625,749 | €423,726 | -€202,023 | -32.3% |
| Intangible fixed assets | 21 | €975 | €675 | -€300 | -30.8% |
| Tangible fixed assets | 22/27 | €624,624 | €423,051 | -€201,573 | -32.3% |
| Land and buildings | 22 | €400,496 | €224,828 | -€175,668 | -43.9% |
| Plant, machinery and equipment | 23 | €169,301 | €162,772 | -€6,528 | -3.9% |
| Furniture and vehicles | 24 | €54,828 | €35,450 | -€19,378 | -35.3% |
| Financial fixed assets | 28 | €150 | - | -€150 | |
| Current assets | 29/58 | €13,266 | €22,913 | +€9,647 | +72.7% |
| Amounts receivable within one year | 40/41 | €9,911 | €1,588 | -€8,323 | -84.0% |
| Trade receivables | 40 | €9,911 | - | -€9,911 | |
| Other amounts receivable | 41 | - | €1,588 | +€1,588 | |
| Cash at bank and in hand | 54/58 | €3,354 | €21,325 | +€17,970 | +536% |
| Total equity and liabilities | 10/49 | €639,014 | €446,638 | -€192,376 | -30.1% |
| Equity | 10/15 | €75,073 | €91,193 | +€16,120 | +21.5% |
| Contributions | 10/11 | €75,073 | €75,073 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | €16,120 | +€16,120 | |
| Amounts payable | 17/49 | €563,941 | €355,446 | -€208,496 | -37.0% |
| Amounts payable after more than one year | 17 | €465,877 | €315,117 | -€150,760 | -32.4% |
| Financial debts | 170/4 | €465,877 | €315,117 | -€150,760 | -32.4% |
| Amounts payable within one year | 42/48 | €98,064 | €40,229 | -€57,835 | -59.0% |
| Current portion of amounts payable after more than one year | 42 | €29,472 | €21,214 | -€8,258 | -28.0% |
| Taxes, remuneration and social security | 45 | €14,974 | €6,085 | -€8,890 | -59.4% |
| Taxes | 450/3 | €14,974 | €6,085 | -€8,890 | -59.4% |
| Other amounts payable | 47/48 | €53,618 | €12,930 | -€40,688 | -75.9% |
| Accrued charges and deferred income | 492/3 | - | €100 | +€100 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,599 | €17,266 | -€13,333 | -43.6% |
| Other operating charges | 640/8 | €2,102 | €7,441 | +€5,339 | +254% |
| Gross operating margin | 9900 | €48,414 | €79,288 | +€30,874 | +63.8% |
| Operating profit (loss) | 9901 | €15,713 | €54,581 | +€38,868 | +247% |
| Financial charges | 65/66B | €12,003 | €12,886 | +€883 | +7.4% |
| Recurring financial charges | 65 | €12,003 | €12,886 | +€883 | +7.4% |
| Profit (loss) for the period before taxes | 9903 | €3,709 | €41,695 | +€37,986 | +1,024% |
| Income taxes | 67/77 | €394 | €10,576 | +€10,182 | +2,587% |
| Profit (loss) for the period | 9904 | €3,316 | €31,120 | +€27,804 | +839% |
| Profit (loss) for the period to be appropriated | 9905 | €3,316 | €31,120 | +€27,804 | +839% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.