LVL CONSTRUCT: what changed
Two fiscal 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.
What changed
LVL CONSTRUCT
NACE 41.001, General construction of residential buildings
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€3,124
2024 · €27,225-€24,101
Equity
€36,658
2024 · €33,534+€3,124
Cash
€83,007
2024 · €88,050-€5,044
Balance sheet total
€774,163
2024 · €830,143-€55,981
Largest movements
Assets
- Tangible fixed assets -€51,557
down €51,557 (-7.3%), from €705,139 to €653,582
of which Land and buildings: -€37,871
Equity and liabilities
- Debts after one year -€51,066
down €51,066 (-7.6%), from €669,359 to €618,293
Income statement
- Gross operating margin -€19,150
down €19,150 (-18.0%), from €106,640 to €87,491
- Taxes +€5,000
new in 2025: €5,000
- Depreciation +€1,838
up €1,838 (+3.3%), from €55,174 to €57,012
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.
Result 2024
€27,225
Gross operating margin
-€19,150
Staff costs
+€1,047
Depreciation
-€1,838
Other operating charges
+€219
Financial income
-€14
Financial charges
+€634
Taxes
-€5,000
Result 2025
€3,124
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.
From operations
+€50,230
Investment
-€5,455
Financing
-€49,818
Cash 2024
€88,050
From operations (derived)
+€50,230
Net result for the year
+€3,124
Depreciation
+€57,012
Receivables within one year
-€524
Deferred charges and accrued income
-€96
Trade debts
-€6,823
Tax, wage and social debts
+€431
Other debts
-€2,030
Accrued charges and deferred income
-€865
Investment (derived)
-€5,455
Investment in fixed assets (net)
-€5,455
Financing
-€49,818
Debts after one year
-€51,066
Current portion of long-term debt
+€1,248
Cash 2025
€83,007
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €830,143 | €774,163 | -€55,981 | -6.7% |
| Fixed assets | 21/28 | €705,189 | €653,632 | -€51,557 | -7.3% |
| Tangible fixed assets | 22/27 | €705,139 | €653,582 | -€51,557 | -7.3% |
| Land and buildings | 22 | €622,520 | €584,649 | -€37,871 | -6.1% |
| Plant, machinery and equipment | 23 | €17,349 | €16,663 | -€686 | -4.0% |
| Furniture and vehicles | 24 | €65,271 | €52,270 | -€13,000 | -19.9% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €124,954 | €120,530 | -€4,424 | -3.5% |
| Stocks and contracts in progress | 3 | €24,149 | €24,149 | = | 0.0% |
| Stocks | 30/36 | €24,149 | €24,149 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €12,083 | €12,606 | +€524 | +4.3% |
| Trade receivables | 40 | €11,680 | €11,720 | +€40 | +0.3% |
| Other amounts receivable | 41 | €403 | €887 | +€484 | +120.0% |
| Cash at bank and in hand | 54/58 | €88,050 | €83,007 | -€5,044 | -5.7% |
| Deferred charges and accrued income | 490/1 | €672 | €768 | +€96 | +14.3% |
| Total equity and liabilities | 10/49 | €830,143 | €774,163 | -€55,981 | -6.7% |
| Equity | 10/15 | €33,534 | €36,658 | +€3,124 | +9.3% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €25,474 | €28,598 | +€3,124 | +12.3% |
| Amounts payable | 17/49 | €796,609 | €737,505 | -€59,105 | -7.4% |
| Amounts payable after more than one year | 17 | €669,359 | €618,293 | -€51,066 | -7.6% |
| Financial debts | 170/4 | €669,359 | €618,293 | -€51,066 | -7.6% |
| Amounts payable within one year | 42/48 | €126,385 | €119,211 | -€7,174 | -5.7% |
| Current portion of amounts payable after more than one year | 42 | €55,898 | €57,146 | +€1,248 | +2.2% |
| Trade debts | 44 | €46,207 | €39,384 | -€6,823 | -14.8% |
| Suppliers | 440/4 | €46,207 | €39,384 | -€6,823 | -14.8% |
| Advances received on contracts in progress | 46 | €3,180 | €3,180 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €1,515 | €1,946 | +€431 | +28.5% |
| Taxes | 450/3 | €1,515 | €287 | -€1,228 | -81.1% |
| Remuneration and social security | 454/9 | - | €1,659 | +€1,659 | |
| Other amounts payable | 47/48 | €19,586 | €17,556 | -€2,030 | -10.4% |
| Accrued charges and deferred income | 492/3 | €865 | - | -€865 | |
| Remuneration, social security and pensions | 62 | €2,442 | €1,395 | -€1,047 | -42.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €55,174 | €57,012 | +€1,838 | +3.3% |
| Other operating charges | 640/8 | €4,241 | €4,022 | -€219 | -5.2% |
| Gross operating margin | 9900 | €106,640 | €87,491 | -€19,150 | -18.0% |
| Operating profit (loss) | 9901 | €44,783 | €25,062 | -€19,721 | -44.0% |
| Financial income | 75/76B | €27 | €13 | -€14 | -52.7% |
| Recurring financial income | 75 | €27 | €13 | -€14 | -52.7% |
| Financial charges | 65/66B | €17,585 | €16,951 | -€634 | -3.6% |
| Recurring financial charges | 65 | €17,585 | €16,951 | -€634 | -3.6% |
| Profit (loss) for the period before taxes | 9903 | €27,225 | €8,124 | -€19,101 | -70.2% |
| Income taxes | 67/77 | - | €5,000 | +€5,000 | |
| Profit (loss) for the period | 9904 | €27,225 | €3,124 | -€24,101 | -88.5% |
| Profit (loss) for the period to be appropriated | 9905 | €27,225 | €3,124 | -€24,101 | -88.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.