LN-CONSTRUCT: 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.
LN-CONSTRUCT
Largest movements
- Tangible fixed assets -€210,639
down €210,639 (-97.2%), from €216,671 to €6,032
of which Land and buildings: -€206,294
- Cash +€50,299
up €50,299 (+389%), from €12,923 to €63,222
mainly Short-term financial debts (+€300,120) and Investment in fixed assets (net) (+€206,344)
- Stocks and contracts +€21,915
up €21,915 (+6.0%), from €367,404 to €389,319
- Current portion of long-term debt -€315,123
down €315,123 (-97.7%), from €322,378 to €7,255
- Short-term financial debts +€300,120
new in 2025: €300,120
- Debts after one year -€124,152
down €124,152 (-81.9%), from €151,664 to €27,512
- Reserves +€96,059
up €96,059 (+5,164%), from €1,860 to €97,919
- Profit (loss) carried forward -€90,000
down €90,000 (-99.1%), from €90,862 to €862
- Gross operating margin +€166,312
up €166,312, from -€23,960 to €142,352
- Staff costs -€19,295
no longer reported in 2025 (was €19,295)
- Financial income -€9,940
down €9,940 (-78.2%), from €12,707 to €2,767
of which Non-recurring financial income: -€11,838
- Taxes +€9,844
new in 2025: €9,844
- Depreciation -€8,220
down €8,220 (-65.4%), from €12,565 to €4,345
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 | €603,235 | €462,108 | -€141,127 | -23.4% |
| Fixed assets | 21/28 | €217,221 | €6,532 | -€210,689 | -97.0% |
| Tangible fixed assets | 22/27 | €216,671 | €6,032 | -€210,639 | -97.2% |
| Land and buildings | 22 | €206,294 | - | -€206,294 | |
| Plant, machinery and equipment | 23 | €9,186 | €5,555 | -€3,631 | -39.5% |
| Furniture and vehicles | 24 | €1,191 | €477 | -€714 | -59.9% |
| Financial fixed assets | 28 | €550 | €500 | -€50 | -9.1% |
| Current assets | 29/58 | €386,014 | €455,576 | +€69,562 | +18.0% |
| Stocks and contracts in progress | 3 | €367,404 | €389,319 | +€21,915 | +6.0% |
| Stocks | 30/36 | €367,404 | €389,319 | +€21,915 | +6.0% |
| Amounts receivable within one year | 40/41 | €1,381 | €2,744 | +€1,363 | +98.7% |
| Trade receivables | 40 | €381 | €381 | = | 0.0% |
| Other amounts receivable | 41 | €1,000 | €2,363 | +€1,363 | +136% |
| Cash at bank and in hand | 54/58 | €12,923 | €63,222 | +€50,299 | +389% |
| Deferred charges and accrued income | 490/1 | €4,306 | €291 | -€4,015 | -93.2% |
| Total equity and liabilities | 10/49 | €603,235 | €462,108 | -€141,127 | -23.4% |
| Equity | 10/15 | €111,322 | €117,381 | +€6,059 | +5.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €97,919 | +€96,059 | +5,164% |
| Distributable reserves | 133 | €1,860 | €97,919 | +€96,059 | +5,164% |
| Profit (loss) carried forward | 14 | €90,862 | €862 | -€90,000 | -99.1% |
| Amounts payable | 17/49 | €491,913 | €344,727 | -€147,186 | -29.9% |
| Amounts payable after more than one year | 17 | €151,664 | €27,512 | -€124,152 | -81.9% |
| Financial debts | 170/4 | €151,664 | €27,512 | -€124,152 | -81.9% |
| Amounts payable within one year | 42/48 | €340,249 | €317,216 | -€23,034 | -6.8% |
| Current portion of amounts payable after more than one year | 42 | €322,378 | €7,255 | -€315,123 | -97.7% |
| Financial debts | 43 | - | €300,120 | +€300,120 | |
| Credit institutions | 430/8 | - | €300,120 | +€300,120 | |
| Trade debts | 44 | €5,937 | €1,884 | -€4,053 | -68.3% |
| Suppliers | 440/4 | €5,937 | €1,884 | -€4,053 | -68.3% |
| Advances received on contracts in progress | 46 | €7,957 | €7,957 | = | 0.0% |
| Taxes, remuneration and social security | 45 | €278 | - | -€278 | |
| Taxes | 450/3 | €278 | - | -€278 | |
| Other amounts payable | 47/48 | €3,699 | - | -€3,699 | |
| Non-recurring operating income | 76A | €14,000 | €177,559 | +€163,559 | +1,168% |
| Remuneration, social security and pensions | 62 | €19,295 | - | -€19,295 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,565 | €4,345 | -€8,220 | -65.4% |
| Other operating charges | 640/8 | €4,821 | €4,680 | -€141 | -2.9% |
| Non-recurring operating charges | 66A | €6,886 | - | -€6,886 | |
| Gross operating margin | 9900 | -€23,960 | €142,352 | +€166,312 | |
| Operating profit (loss) | 9901 | -€67,526 | €133,327 | +€200,853 | |
| Financial income | 75/76B | €12,707 | €2,767 | -€9,940 | -78.2% |
| Recurring financial income | 75 | €869 | €2,767 | +€1,898 | +218% |
| Non-recurring financial income | 76B | €11,838 | - | -€11,838 | |
| Financial charges | 65/66B | €23,275 | €30,191 | +€6,916 | +29.7% |
| Recurring financial charges | 65 | €23,275 | €30,191 | +€6,916 | +29.7% |
| Profit (loss) for the period before taxes | 9903 | -€78,094 | €105,903 | +€183,997 | |
| Income taxes | 67/77 | - | €9,844 | +€9,844 | |
| Profit (loss) for the period | 9904 | -€78,094 | €96,059 | +€174,153 | |
| Profit (loss) for the period to be appropriated | 9905 | -€78,094 | €96,059 | +€174,153 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.