J. LAHAYE: what changed
You see two financial years side by side: what moved most in the balance sheet and the result, why the result rose or fell and where the money went.
J. LAHAYE
Largest movements
- Tangible fixed assets -€78,918
down €78,918 (-17.3%), from €456,906 to €377,988
of which Plant, machinery and equipment: -€43,420
- Receivables within one year -€39,191
down €39,191 (-22.4%), from €174,676 to €135,485
of which Other amounts receivable: -€29,782
- Deferred charges and accrued income -€8,227
down €8,227 (-17.2%), from €47,770 to €39,543
- Debts after one year -€46,741
down €46,741 (-18.3%), from €255,208 to €208,467
- Trade debts -€41,398
down €41,398 (-40.1%), from €103,222 to €61,824
- Current portion of long-term debt -€30,442
down €30,442 (-39.1%), from €77,937 to €47,495
- Tax, wage and social debts -€11,396
down €11,396 (-71.3%), from €15,982 to €4,586
of which Remuneration and social security: -€11,141
- Gross operating margin -€29,348
down €29,348 (-9.6%), from €306,870 to €277,522
- Depreciation +€7,866
up €7,866 (+10.5%), from €74,833 to €82,699
- Staff costs -€6,133
down €6,133 (-3.5%), from €176,216 to €170,083
- Financial charges +€3,540
up €3,540 (+26.2%), from €13,511 to €17,051
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.
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.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €703,288 | €572,882 | -€130,405 | -18.5% |
| Fixed assets | 21/28 | €458,526 | €379,608 | -€78,918 | -17.2% |
| Tangible fixed assets | 22/27 | €456,906 | €377,988 | -€78,918 | -17.3% |
| Land and buildings | 22 | €96,225 | €95,416 | -€809 | -0.8% |
| Plant, machinery and equipment | 23 | €226,675 | €183,255 | -€43,420 | -19.2% |
| Furniture and vehicles | 24 | €134,005 | €99,316 | -€34,689 | -25.9% |
| Financial fixed assets | 28 | €1,620 | €1,620 | = | 0.0% |
| Current assets | 29/58 | €244,762 | €193,275 | -€51,487 | -21.0% |
| Amounts receivable within one year | 40/41 | €174,676 | €135,485 | -€39,191 | -22.4% |
| Trade receivables | 40 | €140,453 | €131,045 | -€9,409 | -6.7% |
| Other amounts receivable | 41 | €34,222 | €4,440 | -€29,782 | -87.0% |
| Cash at bank and in hand | 54/58 | €22,316 | €18,247 | -€4,070 | -18.2% |
| Deferred charges and accrued income | 490/1 | €47,770 | €39,543 | -€8,227 | -17.2% |
| Total equity and liabilities | 10/49 | €703,288 | €572,882 | -€130,405 | -18.5% |
| Equity | 10/15 | €95,718 | €98,321 | +€2,603 | +2.7% |
| Contributions | 10/11 | €95,800 | €95,800 | = | 0.0% |
| Reserves | 13 | €7,946 | €7,946 | = | 0.0% |
| Distributable reserves | 133 | €7,946 | €7,946 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,028 | -€5,425 | +€2,603 | +32.4% |
| Amounts payable | 17/49 | €607,570 | €474,562 | -€133,008 | -21.9% |
| Amounts payable after more than one year | 17 | €255,208 | €208,467 | -€46,741 | -18.3% |
| Financial debts | 170/4 | €255,208 | €208,467 | -€46,741 | -18.3% |
| Amounts payable within one year | 42/48 | €351,002 | €264,734 | -€86,268 | -24.6% |
| Current portion of amounts payable after more than one year | 42 | €77,937 | €47,495 | -€30,442 | -39.1% |
| Financial debts | 43 | €150,000 | €150,000 | = | 0.0% |
| Credit institutions | 430/8 | €150,000 | €150,000 | = | 0.0% |
| Trade debts | 44 | €103,222 | €61,824 | -€41,398 | -40.1% |
| Suppliers | 440/4 | €103,222 | €61,824 | -€41,398 | -40.1% |
| Taxes, remuneration and social security | 45 | €15,982 | €4,586 | -€11,396 | -71.3% |
| Taxes | 450/3 | €1,837 | €1,582 | -€255 | -13.9% |
| Remuneration and social security | 454/9 | €14,145 | €3,004 | -€11,141 | -78.8% |
| Other amounts payable | 47/48 | €3,861 | €830 | -€3,032 | -78.5% |
| Accrued charges and deferred income | 492/3 | €1,360 | €1,360 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €176,216 | €170,083 | -€6,133 | -3.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €74,833 | €82,699 | +€7,866 | +10.5% |
| Other operating charges | 640/8 | €3,774 | €4,830 | +€1,056 | +28.0% |
| Gross operating margin | 9900 | €306,870 | €277,522 | -€29,348 | -9.6% |
| Operating profit (loss) | 9901 | €52,047 | €19,910 | -€32,137 | -61.7% |
| Financial income | 75/76B | €54 | - | -€54 | |
| Recurring financial income | 75 | €54 | - | -€54 | |
| Financial charges | 65/66B | €13,511 | €17,051 | +€3,540 | +26.2% |
| Recurring financial charges | 65 | €13,511 | €17,051 | +€3,540 | +26.2% |
| Profit (loss) for the period before taxes | 9903 | €38,590 | €2,859 | -€35,731 | -92.6% |
| Income taxes | 67/77 | - | €256 | +€256 | |
| Profit (loss) for the period | 9904 | €38,590 | €2,603 | -€35,987 | -93.3% |
| Profit (loss) for the period to be appropriated | 9905 | €38,590 | €2,603 | -€35,987 | -93.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 1 November 2026 via checked.be.