BENOÎT LERAT MANAGEMENT: what changed
What changed
BENOÎT LERAT MANAGEMENT
NACE 64.210, Activities of holding companies
filed annual accounts (NBB)
Net result for the year
€126,337
2024 · €78,122+€48,215
Equity
€294,137
2024 · €167,799+€126,337
Cash
€56,234
2024 · €29,093+€27,141
Balance sheet total
€2.2m
2024 · €1.3m+€870,019
Largest movements
Assets
- Financial fixed assets +€840,000
up €840,000 (+66.9%), from €1.3m to €2.1m
- Cash +€27,141
up €27,141 (+93.3%), from €29,093 to €56,234
mainly Debts after one year (+€664,488) and Net result for the year (+€126,337)
Equity and liabilities
- Debts after one year +€664,488
up €664,488 (+80.8%), from €822,246 to €1.5m
- Reserves +€126,337
up €126,337 (+76.7%), from €164,799 to €291,137
- Current portion of long-term debt +€62,842
up €62,842 (+86.4%), from €72,706 to €135,548
Income statement
- Gross operating margin +€95,754
up €95,754 (+62.6%), from €152,852 to €248,606
- Financial charges +€30,751
up €30,751 (+75.8%), from €40,547 to €71,298
- Taxes +€9,388
up €9,388 (+33.0%), from €28,479 to €37,867
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
€78,122
Gross operating margin
+€95,754
Depreciation
-€2,139
Other operating charges
-€13
Other operating items
-€5,249
Financial income
+€1
Financial charges
-€30,751
Taxes
-€9,388
Result 2025
€126,337
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€150,512
Investment
-€850,702
Financing
+€727,331
Cash 2024
€29,093
From operations (derived)
+€150,512
Net result for the year
+€126,337
Depreciation
+€6,283
Smaller working-capital items
+€1,356
Tax, wage and social debts
+€9,565
Other debts
+€6,971
Investment (derived)
-€850,702
Investment in fixed assets (net)
-€850,702
Financing
+€727,331
Debts after one year
+€664,488
Current portion of long-term debt
+€62,842
Cash 2025
€56,234
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,295,015 | €2,165,034 | +€870,019 | +67.2% |
| Fixed assets | 21/28 | €1,264,051 | €2,108,470 | +€844,419 | +66.8% |
| Tangible fixed assets | 22/27 | €9,298 | €13,717 | +€4,419 | +47.5% |
| Furniture and vehicles | 24 | €9,298 | €13,717 | +€4,419 | +47.5% |
| Financial fixed assets | 28 | €1,254,753 | €2,094,753 | +€840,000 | +66.9% |
| Current assets | 29/58 | €30,964 | €56,564 | +€25,600 | +82.7% |
| Amounts receivable within one year | 40/41 | €1,521 | €0 | -€1,521 | -100% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €1,521 | €0 | -€1,521 | -100% |
| Cash at bank and in hand | 54/58 | €29,093 | €56,234 | +€27,141 | +93.3% |
| Deferred charges and accrued income | 490/1 | €350 | €330 | -€20 | -5.7% |
| Total equity and liabilities | 10/49 | €1,295,015 | €2,165,034 | +€870,019 | +67.2% |
| Equity | 10/15 | €167,799 | €294,137 | +€126,337 | +75.3% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €164,799 | €291,137 | +€126,337 | +76.7% |
| Distributable reserves | 133 | €164,799 | €291,137 | +€126,337 | +76.7% |
| Amounts payable | 17/49 | €1,127,215 | €1,870,897 | +€743,682 | +66.0% |
| Amounts payable after more than one year | 17 | €822,246 | €1,486,735 | +€664,488 | +80.8% |
| Financial debts | 170/4 | €822,246 | €1,486,735 | +€664,488 | +80.8% |
| Amounts payable within one year | 42/48 | €301,874 | €382,153 | +€80,280 | +26.6% |
| Current portion of amounts payable after more than one year | 42 | €72,706 | €135,548 | +€62,842 | +86.4% |
| Trade debts | 44 | €958 | €1,860 | +€902 | +94.1% |
| Suppliers | 440/4 | €958 | €1,860 | +€902 | +94.1% |
| Taxes, remuneration and social security | 45 | €3,992 | €13,557 | +€9,565 | +240% |
| Taxes | 450/3 | €3,992 | €13,557 | +€9,565 | +240% |
| Other amounts payable | 47/48 | €224,218 | €231,189 | +€6,971 | +3.1% |
| Accrued charges and deferred income | 492/3 | €3,095 | €2,009 | -€1,086 | -35.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,144 | €6,283 | +€2,139 | +51.6% |
| Other operating charges | 640/8 | €1,560 | €1,572 | +€13 | +0.8% |
| Non-recurring operating charges | 66A | - | €5,249 | +€5,249 | |
| Gross operating margin | 9900 | €152,852 | €248,606 | +€95,754 | +62.6% |
| Operating profit (loss) | 9901 | €147,149 | €235,501 | +€88,353 | +60.0% |
| Financial income | 75/76B | - | €1 | +€1 | |
| Recurring financial income | 75 | - | €1 | +€1 | |
| Financial charges | 65/66B | €40,547 | €71,298 | +€30,751 | +75.8% |
| Recurring financial charges | 65 | €40,547 | €71,298 | +€30,751 | +75.8% |
| Profit (loss) for the period before taxes | 9903 | €106,601 | €164,204 | +€57,603 | +54.0% |
| Income taxes | 67/77 | €28,479 | €37,867 | +€9,388 | +33.0% |
| Profit (loss) for the period | 9904 | €78,122 | €126,337 | +€48,215 | +61.7% |
| Profit (loss) for the period to be appropriated | 9905 | €78,122 | €126,337 | +€48,215 | +61.7% |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 5 November 2026 via checked.be.