LZ IMMO: 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.
LZ IMMO
Largest movements
- Tangible fixed assets +€508,035
up €508,035 (+33.3%), from €1.5m to €2.0m
- Cash -€123,168
down €123,168 (-99.6%), from €123,668 to €499
mainly Investment in fixed assets (net) (-€625,689) and Net result for the year (-€102,595)
- Debts after one year +€380,338
up €380,338 (+28.1%), from €1.4m to €1.7m
- Profit (loss) carried forward -€102,595
down €102,595, from €7,866 to -€94,729
- Trade debts +€53,553
up €53,553 (+312%), from €17,158 to €70,711
- Current portion of long-term debt +€39,451
up €39,451 (+38.2%), from €103,302 to €142,753
- Depreciation +€30,267
up €30,267 (+34.6%), from €87,387 to €117,654
- Other operating charges +€24,646
up €24,646 (+272%), from €9,077 to €33,723
- Financial charges +€24,511
up €24,511 (+47.4%), from €51,716 to €76,228
- Gross operating margin -€9,249
down €9,249 (-6.9%), from €134,259 to €125,010
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 | €1,886,097 | €2,259,619 | +€373,522 | +19.8% |
| Fixed assets | 21/28 | €1,738,415 | €2,246,449 | +€508,035 | +29.2% |
| Tangible fixed assets | 22/27 | €1,526,060 | €2,034,095 | +€508,035 | +33.3% |
| Land and buildings | 22 | €1,526,060 | €2,034,095 | +€508,035 | +33.3% |
| Financial fixed assets | 28 | €212,355 | €212,355 | = | 0.0% |
| Current assets | 29/58 | €147,683 | €13,170 | -€134,513 | -91.1% |
| Amounts receivable within one year | 40/41 | €20,315 | €8,841 | -€11,473 | -56.5% |
| Trade receivables | 40 | €20,315 | €8,841 | -€11,473 | -56.5% |
| Cash at bank and in hand | 54/58 | €123,668 | €499 | -€123,168 | -99.6% |
| Deferred charges and accrued income | 490/1 | €3,700 | €3,829 | +€129 | +3.5% |
| Total equity and liabilities | 10/49 | €1,886,097 | €2,259,619 | +€373,522 | +19.8% |
| Equity | 10/15 | €219,721 | €117,127 | -€102,595 | -46.7% |
| Contributions | 10/11 | €210,000 | €210,000 | = | 0.0% |
| Capital | 10 | €210,000 | €210,000 | = | 0.0% |
| Issued capital | 100 | €210,000 | €210,000 | = | 0.0% |
| Reserves | 13 | €1,855 | €1,855 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,855 | €1,855 | = | 0.0% |
| Legal reserve | 130 | €1,855 | €1,855 | = | 0.0% |
| Profit (loss) carried forward | 14 | €7,866 | -€94,729 | -€102,595 | |
| Amounts payable | 17/49 | €1,666,376 | €2,142,492 | +€476,117 | +28.6% |
| Amounts payable after more than one year | 17 | €1,354,616 | €1,734,953 | +€380,338 | +28.1% |
| Financial debts | 170/4 | €1,354,616 | €1,734,953 | +€380,338 | +28.1% |
| Amounts payable within one year | 42/48 | €311,760 | €407,523 | +€95,764 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €103,302 | €142,753 | +€39,451 | +38.2% |
| Trade debts | 44 | €17,158 | €70,711 | +€53,553 | +312% |
| Suppliers | 440/4 | €17,158 | €70,711 | +€53,553 | +312% |
| Taxes, remuneration and social security | 45 | €16,165 | €5,667 | -€10,499 | -64.9% |
| Taxes | 450/3 | €16,165 | €5,667 | -€10,499 | -64.9% |
| Other amounts payable | 47/48 | €175,135 | €188,393 | +€13,258 | +7.6% |
| Accrued charges and deferred income | 492/3 | - | €16 | +€16 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €87,387 | €117,654 | +€30,267 | +34.6% |
| Other operating charges | 640/8 | €9,077 | €33,723 | +€24,646 | +272% |
| Gross operating margin | 9900 | €134,259 | €125,010 | -€9,249 | -6.9% |
| Operating profit (loss) | 9901 | €37,795 | -€26,367 | -€64,162 | |
| Financial charges | 65/66B | €51,716 | €76,228 | +€24,511 | +47.4% |
| Recurring financial charges | 65 | €51,716 | €76,228 | +€24,511 | +47.4% |
| Profit (loss) for the period before taxes | 9903 | -€13,921 | -€102,595 | -€88,674 | -637% |
| Profit (loss) for the period | 9904 | -€13,921 | -€102,595 | -€88,674 | -637% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,921 | -€102,595 | -€88,674 | -637% |
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 13 October 2026 via checked.be.