Etienne LEFEBVRE Services: 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.
Etienne LEFEBVRE Services
Largest movements
- Cash +€51,910
up €51,910 (+61.4%), from €84,485 to €136,395
mainly Net result for the year (+€42,110) and Tax, wage and social debts (+€13,781)
- Receivables within one year +€16,335
up €16,335 (+107%), from €15,269 to €31,604
of which Trade receivables: +€12,508
- Reserves +€41,277
up €41,277 (+113%), from €36,537 to €77,815
of which Distributable reserves: +€41,277
- Tax, wage and social debts +€13,781
up €13,781 (+351%), from €3,929 to €17,709
of which Remuneration and social security: +€7,297
- Other debts +€8,702
up €8,702 (+18.0%), from €48,379 to €57,081
- Trade debts +€4,801
up €4,801 (+467%), from €1,029 to €5,830
- Gross operating margin +€25,711
up €25,711 (+63.0%), from €40,836 to €66,547
- Taxes +€12,825
up €12,825 (+383%), from €3,348 to €16,173
- Depreciation -€2,354
down €2,354 (-45.1%), from €5,224 to €2,870
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 | €112,448 | €180,576 | +€68,127 | +60.6% |
| Fixed assets | 21/28 | €11,206 | €10,086 | -€1,121 | -10.0% |
| Tangible fixed assets | 22/27 | €11,206 | €10,086 | -€1,121 | -10.0% |
| Plant, machinery and equipment | 23 | €9,212 | €8,803 | -€409 | -4.4% |
| Furniture and vehicles | 24 | €663 | €395 | -€268 | -40.4% |
| Other tangible fixed assets | 26 | €1,332 | €888 | -€444 | -33.3% |
| Current assets | 29/58 | €101,242 | €170,490 | +€69,248 | +68.4% |
| Amounts receivable within one year | 40/41 | €15,269 | €31,604 | +€16,335 | +107% |
| Trade receivables | 40 | €11,118 | €23,626 | +€12,508 | +113% |
| Other amounts receivable | 41 | €4,152 | €7,978 | +€3,827 | +92.2% |
| Cash at bank and in hand | 54/58 | €84,485 | €136,395 | +€51,910 | +61.4% |
| Deferred charges and accrued income | 490/1 | €1,487 | €2,490 | +€1,003 | +67.4% |
| Total equity and liabilities | 10/49 | €112,448 | €180,576 | +€68,127 | +60.6% |
| Equity | 10/15 | €55,137 | €96,415 | +€41,277 | +74.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €36,537 | €77,815 | +€41,277 | +113% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €34,677 | €75,955 | +€41,277 | +119% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €57,311 | €84,161 | +€26,850 | +46.8% |
| Amounts payable within one year | 42/48 | €53,336 | €80,620 | +€27,284 | +51.2% |
| Trade debts | 44 | €1,029 | €5,830 | +€4,801 | +467% |
| Suppliers | 440/4 | €1,029 | €5,830 | +€4,801 | +467% |
| Taxes, remuneration and social security | 45 | €3,929 | €17,709 | +€13,781 | +351% |
| Taxes | 450/3 | €3,929 | €10,413 | +€6,484 | +165% |
| Remuneration and social security | 454/9 | - | €7,297 | +€7,297 | |
| Other amounts payable | 47/48 | €48,379 | €57,081 | +€8,702 | +18.0% |
| Accrued charges and deferred income | 492/3 | €3,975 | €3,541 | -€434 | -10.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,224 | €2,870 | -€2,354 | -45.1% |
| Other operating charges | 640/8 | €1,176 | €1,484 | +€308 | +26.2% |
| Gross operating margin | 9900 | €40,836 | €66,547 | +€25,711 | +63.0% |
| Operating profit (loss) | 9901 | €34,436 | €62,193 | +€27,757 | +80.6% |
| Financial income | 75/76B | €2 | €0 | -€2 | -100% |
| Recurring financial income | 75 | €2 | €0 | -€2 | -100% |
| Financial charges | 65/66B | €4,246 | €3,909 | -€336 | -7.9% |
| Recurring financial charges | 65 | €4,246 | €3,909 | -€336 | -7.9% |
| Profit (loss) for the period before taxes | 9903 | €30,191 | €58,283 | +€28,092 | +93.0% |
| Income taxes | 67/77 | €3,348 | €16,173 | +€12,825 | +383% |
| Profit (loss) for the period | 9904 | €26,843 | €42,110 | +€15,267 | +56.9% |
| Profit (loss) for the period to be appropriated | 9905 | €26,843 | €42,110 | +€15,267 | +56.9% |
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 21 October 2026 via checked.be.