2LER: 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.
2LER
Largest movements
- Tangible fixed assets -€36,964
down €36,964 (-19.2%), from €192,525 to €155,562
of which Land and buildings: -€24,442
- Receivables within one year -€20,959
down €20,959 (-63.2%), from €33,167 to €12,207
of which Other amounts receivable: -€24,955
- Cash +€19,965
up €19,965 (+51.3%), from €38,886 to €58,850
mainly Depreciation (+€36,336) and Receivables within one year (+€20,959)
- Profit (loss) carried forward -€73,921
down €73,921 (-100.0%), from €73,921 to €0
- Reserves +€58,453
up €58,453 (+14.8%), from €396,256 to €454,709
of which Distributable reserves: +€60,932
- Current portion of long-term debt -€22,063
down €22,063 (-100.0%), from €22,063 to €0
- Gross operating margin -€272,156
down €272,156 (-89.8%), from €303,198 to €31,042
- Taxes -€75,186
down €75,186 (-98.1%), from €76,617 to €1,430
- Staff costs -€13,987
down €13,987 (-100.0%), from €13,987 to €0
- Financial charges -€8,712
down €8,712 (-80.4%), from €10,837 to €2,125
- Financial income +€5,220
up €5,220 (+70.5%), from €7,409 to €12,629
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €564,578 | €528,553 | -€36,024 | -6.4% |
| Fixed assets | 21/28 | €192,525 | €155,562 | -€36,964 | -19.2% |
| Tangible fixed assets | 22/27 | €192,525 | €155,562 | -€36,964 | -19.2% |
| Land and buildings | 22 | €122,938 | €98,496 | -€24,442 | -19.9% |
| Plant, machinery and equipment | 23 | €5,590 | €2,751 | -€2,839 | -50.8% |
| Furniture and vehicles | 24 | €63,997 | €54,314 | -€9,682 | -15.1% |
| Leasing and similar rights | 25 | €0 | - | = | |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €372,052 | €372,992 | +€939 | +0.3% |
| Stocks and contracts in progress | 3 | €0 | - | = | |
| Stocks | 30/36 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €33,167 | €12,207 | -€20,959 | -63.2% |
| Trade receivables | 40 | €6,134 | €10,130 | +€3,996 | +65.1% |
| Other amounts receivable | 41 | €27,032 | €2,078 | -€24,955 | -92.3% |
| Current investments | 50/53 | €300,000 | €300,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €38,886 | €58,850 | +€19,965 | +51.3% |
| Deferred charges and accrued income | 490/1 | €0 | €1,934 | +€1,934 | |
| Total equity and liabilities | 10/49 | €564,578 | €528,553 | -€36,024 | -6.4% |
| Equity | 10/15 | €494,966 | €479,498 | -€15,468 | -3.1% |
| Contributions | 10/11 | €24,789 | €24,789 | = | 0.0% |
| Reserves | 13 | €396,256 | €454,709 | +€58,453 | +14.8% |
| Non-distributable reserves | 130/1 | €2,479 | €0 | -€2,479 | -100.0% |
| Reserves not available under the articles | 1311 | €2,479 | €0 | -€2,479 | -100.0% |
| Distributable reserves | 133 | €393,777 | €454,709 | +€60,932 | +15.5% |
| Profit (loss) carried forward | 14 | €73,921 | €0 | -€73,921 | -100.0% |
| Amounts payable | 17/49 | €69,611 | €49,055 | -€20,556 | -29.5% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €69,611 | €49,055 | -€20,556 | -29.5% |
| Current portion of amounts payable after more than one year | 42 | €22,063 | €0 | -€22,063 | -100.0% |
| Trade debts | 44 | €2,292 | €962 | -€1,330 | -58.0% |
| Suppliers | 440/4 | €2,292 | €962 | -€1,330 | -58.0% |
| Taxes, remuneration and social security | 45 | €18,237 | €20,661 | +€2,424 | +13.3% |
| Taxes | 450/3 | €18,237 | €20,661 | +€2,424 | +13.3% |
| Other amounts payable | 47/48 | €27,019 | €27,433 | +€413 | +1.5% |
| Accrued charges and deferred income | 492/3 | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €13,987 | €0 | -€13,987 | -100.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €37,715 | €36,336 | -€1,379 | -3.7% |
| Other operating charges | 640/8 | €7,417 | €2,620 | -€4,798 | -64.7% |
| Gross operating margin | 9900 | €303,198 | €31,042 | -€272,156 | -89.8% |
| Operating profit (loss) | 9901 | €244,079 | -€7,913 | -€251,992 | |
| Financial income | 75/76B | €7,409 | €12,629 | +€5,220 | +70.5% |
| Recurring financial income | 75 | €7,409 | €12,629 | +€5,220 | +70.5% |
| Financial charges | 65/66B | €10,837 | €2,125 | -€8,712 | -80.4% |
| Recurring financial charges | 65 | €10,837 | €2,125 | -€8,712 | -80.4% |
| Profit (loss) for the period before taxes | 9903 | €240,651 | €2,591 | -€238,060 | -98.9% |
| Income taxes | 67/77 | €76,617 | €1,430 | -€75,186 | -98.1% |
| Profit (loss) for the period | 9904 | €164,034 | €1,160 | -€162,873 | -99.3% |
| Profit (loss) for the period to be appropriated | 9905 | €164,034 | €1,160 | -€162,873 | -99.3% |
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 29 September 2026 via checked.be.