Aug. Lebeau-Courally: 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.
Aug. Lebeau-Courally
Largest movements
- Stocks and contracts +€142,844
up €142,844 (+7.3%), from €2.0m to €2.1m
of which Contracts in progress: +€146,352
- Tangible fixed assets -€24,682
down €24,682 (-7.4%), from €335,537 to €310,855
of which Plant, machinery and equipment: -€15,819
- Other debts +€447,210
up €447,210 (+31.8%), from €1.4m to €1.9m
- Profit (loss) carried forward -€277,657
down €277,657 (-133%), from -€208,551 to -€486,208
- Accrued charges and deferred income -€26,440
down €26,440 (-33.8%), from €78,210 to €51,770
- Financial income -€1.0m
no longer reported in 2025 (was €1.0m)
of which Financial income: -€1.0m
- Gross operating margin -€86,308
down €86,308 (-37.1%), from €232,802 to €146,494
- Staff costs -€47,962
down €47,962 (-12.4%), from €388,281 to €340,318
- Financial charges -€26,396
down €26,396 (-33.4%), from €78,960 to €52,564
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 | €2,322,028 | €2,447,052 | +€125,024 | +5.4% |
| Fixed assets | 21/28 | €335,837 | €311,155 | -€24,682 | -7.3% |
| Tangible fixed assets | 22/27 | €335,537 | €310,855 | -€24,682 | -7.4% |
| Land and buildings | 22 | €312,149 | €303,286 | -€8,862 | -2.8% |
| Plant, machinery and equipment | 23 | €23,388 | €7,569 | -€15,819 | -67.6% |
| Financial fixed assets | 28 | €300 | €300 | = | 0.0% |
| Current assets | 29/58 | €1,986,191 | €2,135,897 | +€149,705 | +7.5% |
| Stocks and contracts in progress | 3 | €1,966,096 | €2,108,940 | +€142,844 | +7.3% |
| Stocks | 30/36 | €155,918 | €152,410 | -€3,508 | -2.3% |
| Contracts in progress | 37 | €1,810,178 | €1,956,530 | +€146,352 | +8.1% |
| Amounts receivable within one year | 40/41 | €11,180 | €11,684 | +€504 | +4.5% |
| Other amounts receivable | 41 | €11,180 | €11,684 | +€504 | +4.5% |
| Cash at bank and in hand | 54/58 | €8,915 | €15,273 | +€6,357 | +71.3% |
| Total equity and liabilities | 10/49 | €2,322,028 | €2,447,052 | +€125,024 | +5.4% |
| Equity | 10/15 | €784,926 | €507,269 | -€277,657 | -35.4% |
| Contributions | 10/11 | €973,477 | €973,477 | = | 0.0% |
| Capital | 10 | €973,477 | €973,477 | = | 0.0% |
| Issued capital | 100 | €973,477 | €973,477 | = | 0.0% |
| Reserves | 13 | €20,000 | €20,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €20,000 | €20,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€208,551 | -€486,208 | -€277,657 | -133% |
| Amounts payable | 17/49 | €1,537,102 | €1,939,783 | +€402,681 | +26.2% |
| Amounts payable within one year | 42/48 | €1,458,892 | €1,888,013 | +€429,121 | +29.4% |
| Trade debts | 44 | €3,717 | €3,596 | -€121 | -3.2% |
| Suppliers | 440/4 | €3,717 | €3,596 | -€121 | -3.2% |
| Taxes, remuneration and social security | 45 | €50,545 | €32,576 | -€17,969 | -35.5% |
| Taxes | 450/3 | €373 | - | -€373 | |
| Remuneration and social security | 454/9 | €50,173 | €32,576 | -€17,596 | -35.1% |
| Other amounts payable | 47/48 | €1,404,630 | €1,851,840 | +€447,210 | +31.8% |
| Accrued charges and deferred income | 492/3 | €78,210 | €51,770 | -€26,440 | -33.8% |
| Remuneration, social security and pensions | 62 | €388,281 | €340,318 | -€47,962 | -12.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €24,682 | €24,682 | +€0 | 0.0% |
| Other operating charges | 640/8 | €6,270 | €6,582 | +€312 | +5.0% |
| Gross operating margin | 9900 | €232,802 | €146,494 | -€86,308 | -37.1% |
| Operating profit (loss) | 9901 | -€186,430 | -€225,087 | -€38,657 | -20.7% |
| Financial income | 75/76B | €1,025,887 | - | -€1.0m | |
| Recurring financial income | 75 | €1,025,887 | - | -€1.0m | |
| Non-recurring financial income | 76B | €1,025,887 | - | -€1.0m | |
| Financial charges | 65/66B | €78,960 | €52,564 | -€26,396 | -33.4% |
| Recurring financial charges | 65 | €78,960 | €52,564 | -€26,396 | -33.4% |
| Profit (loss) for the period before taxes | 9903 | €760,497 | -€277,651 | -€1.0m | |
| Income taxes | 67/77 | €444 | €6 | -€439 | -98.7% |
| Profit (loss) for the period | 9904 | €760,053 | -€277,657 | -€1.0m | |
| Profit (loss) for the period to be appropriated | 9905 | €760,053 | -€277,657 | -€1.0m |
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 29 October 2026 via checked.be.