Glenn Le Rycke: what changed
What changed
Glenn Le Rycke
NACE 41.001, General construction of residential buildings
filed annual accounts (NBB)
Net result for the year
€40,306
2024 · €23,266+€17,040
Equity
€148,910
2024 · €108,603+€40,306
Cash
€43,764
2024 · €27,148+€16,616
Balance sheet total
€998,984
2024 · €1.1m-€57,155
Largest movements
Assets
- Tangible fixed assets -€67,334
down €67,334 (-6.6%), from €1.0m to €950,124
of which Land and buildings: -€50,441
- Cash +€16,616
up €16,616 (+61.2%), from €27,148 to €43,764
mainly Debts after one year (+€102,829) and Depreciation (+€67,334)
Equity and liabilities
- Other debts -€229,771
down €229,771 (-79.2%), from €290,003 to €60,232
- Debts after one year +€102,829
up €102,829 (+19.0%), from €542,598 to €645,427
- Reserves +€40,306
up €40,306 (+44.8%), from €90,003 to €130,310
- Current portion of long-term debt +€26,250
up €26,250 (+38.9%), from €67,509 to €93,758
Income statement
- Gross operating margin +€51,428
up €51,428 (+39.8%), from €129,216 to €180,644
- Depreciation +€9,405
up €9,405 (+16.2%), from €57,929 to €67,334
- Taxes +€4,669
up €4,669 (+25.0%), from €18,686 to €23,354
- Other operating charges +€2,294
up €2,294 (+26.2%), from €8,755 to €11,049
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
€23,266
Gross operating margin
+€51,428
Depreciation
-€9,405
Other operating charges
-€2,294
Other operating items
-€16,747
Financial income
-€1
Financial charges
-€1,272
Taxes
-€4,669
Result 2025
€40,306
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
-€112,462
Investment
€0
Financing
+€129,078
Cash 2024
€27,148
From operations (derived)
-€112,462
Net result for the year
+€40,306
Depreciation
+€67,334
Receivables within one year
+€9,088
Deferred charges and accrued income
-€2,651
Trade debts
-€2,877
Tax, wage and social debts
+€10,167
Other debts
-€229,771
Accrued charges and deferred income
-€4,059
Financing
+€129,078
Debts after one year
+€102,829
Current portion of long-term debt
+€26,250
Cash 2025
€43,764
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,056,139 | €998,984 | -€57,155 | -5.4% |
| Fixed assets | 21/28 | €1,017,457 | €950,124 | -€67,334 | -6.6% |
| Tangible fixed assets | 22/27 | €1,017,457 | €950,124 | -€67,334 | -6.6% |
| Land and buildings | 22 | €875,540 | €825,098 | -€50,441 | -5.8% |
| Plant, machinery and equipment | 23 | €268 | - | -€268 | |
| Furniture and vehicles | 24 | €141,649 | €125,025 | -€16,624 | -11.7% |
| Current assets | 29/58 | €38,682 | €48,861 | +€10,179 | +26.3% |
| Amounts receivable within one year | 40/41 | €11,534 | €2,446 | -€9,088 | -78.8% |
| Trade receivables | 40 | €8,010 | €2,421 | -€5,590 | -69.8% |
| Other amounts receivable | 41 | €3,524 | €26 | -€3,498 | -99.3% |
| Cash at bank and in hand | 54/58 | €27,148 | €43,764 | +€16,616 | +61.2% |
| Deferred charges and accrued income | 490/1 | - | €2,651 | +€2,651 | |
| Total equity and liabilities | 10/49 | €1,056,139 | €998,984 | -€57,155 | -5.4% |
| Equity | 10/15 | €108,603 | €148,910 | +€40,306 | +37.1% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €90,003 | €130,310 | +€40,306 | +44.8% |
| Distributable reserves | 133 | €90,003 | €130,310 | +€40,306 | +44.8% |
| Amounts payable | 17/49 | €947,536 | €850,075 | -€97,461 | -10.3% |
| Amounts payable after more than one year | 17 | €542,598 | €645,427 | +€102,829 | +19.0% |
| Financial debts | 170/4 | €542,598 | €645,427 | +€102,829 | +19.0% |
| Amounts payable within one year | 42/48 | €397,318 | €201,088 | -€196,231 | -49.4% |
| Current portion of amounts payable after more than one year | 42 | €67,509 | €93,758 | +€26,250 | +38.9% |
| Trade debts | 44 | €3,265 | €389 | -€2,877 | -88.1% |
| Suppliers | 440/4 | €3,265 | €389 | -€2,877 | -88.1% |
| Taxes, remuneration and social security | 45 | €36,542 | €46,709 | +€10,167 | +27.8% |
| Taxes | 450/3 | €26,542 | €46,709 | +€20,167 | +76.0% |
| Remuneration and social security | 454/9 | €10,000 | - | -€10,000 | |
| Other amounts payable | 47/48 | €290,003 | €60,232 | -€229,771 | -79.2% |
| Accrued charges and deferred income | 492/3 | €7,619 | €3,560 | -€4,059 | -53.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €57,929 | €67,334 | +€9,405 | +16.2% |
| Other operating charges | 640/8 | €8,755 | €11,049 | +€2,294 | +26.2% |
| Non-recurring operating charges | 66A | - | €16,747 | +€16,747 | |
| Gross operating margin | 9900 | €129,216 | €180,644 | +€51,428 | +39.8% |
| Operating profit (loss) | 9901 | €62,532 | €85,514 | +€22,982 | +36.8% |
| Financial income | 75/76B | €5 | €4 | -€1 | -16.5% |
| Recurring financial income | 75 | €5 | €4 | -€1 | -16.5% |
| Financial charges | 65/66B | €20,585 | €21,858 | +€1,272 | +6.2% |
| Recurring financial charges | 65 | €20,585 | €21,858 | +€1,272 | +6.2% |
| Profit (loss) for the period before taxes | 9903 | €41,952 | €63,661 | +€21,709 | +51.7% |
| Income taxes | 67/77 | €18,686 | €23,354 | +€4,669 | +25.0% |
| Profit (loss) for the period | 9904 | €23,266 | €40,306 | +€17,040 | +73.2% |
| Profit (loss) for the period to be appropriated | 9905 | €23,266 | €40,306 | +€17,040 | +73.2% |
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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 7 November 2026 via checked.be.