KATRIEN LEROUX: 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.
KATRIEN LEROUX
Largest movements
- Tangible fixed assets +€123,428
up €123,428 (+397%), from €31,057 to €154,485
of which Land and buildings: +€124,980
- Receivables within one year -€51,744
down €51,744 (-89.4%), from €57,905 to €6,160
of which Other amounts receivable: -€51,527
- Cash -€15,145
down €15,145 (-85.4%), from €17,729 to €2,584
mainly Investment in fixed assets (net) (-€134,635) and Net result for the year (-€12,767)
- Other debts +€72,680
up €72,680 (+75.9%), from €95,818 to €168,498
- Profit (loss) carried forward -€12,767
down €12,767, from €0 to -€12,767
- Financial income -€122,388
down €122,388 (-100.0%), from €122,441 to €53
of which Non-recurring financial income: -€122,331
- Financial charges -€13,853
down €13,853 (-99.5%), from €13,927 to €74
- Gross operating margin +€11,545
up €11,545, from -€6,922 to €4,624
- Depreciation +€8,478
up €8,478 (+136%), from €6,229 to €14,707
- Staff costs -€5,000
new in 2025: -€5,000
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 | €556,716 | €612,522 | +€55,805 | +10.0% |
| Fixed assets | 21/28 | €64,517 | €184,445 | +€119,928 | +186% |
| Intangible fixed assets | 21 | €33,460 | €29,960 | -€3,500 | -10.5% |
| Tangible fixed assets | 22/27 | €31,057 | €154,485 | +€123,428 | +397% |
| Land and buildings | 22 | - | €124,980 | +€124,980 | |
| Plant, machinery and equipment | 23 | €27,976 | €27,193 | -€783 | -2.8% |
| Furniture and vehicles | 24 | €3,081 | €2,312 | -€769 | -25.0% |
| Financial fixed assets | 28 | €0 | - | = | |
| Current assets | 29/58 | €492,199 | €428,077 | -€64,123 | -13.0% |
| Amounts receivable after more than one year | 29 | €413,291 | €413,291 | = | 0.0% |
| Other amounts receivable | 291 | €413,291 | €413,291 | = | 0.0% |
| Stocks and contracts in progress | 3 | €1,750 | €4,950 | +€3,200 | +183% |
| Stocks | 30/36 | €1,750 | €4,950 | +€3,200 | +183% |
| Amounts receivable within one year | 40/41 | €57,905 | €6,160 | -€51,744 | -89.4% |
| Trade receivables | 40 | €217 | €0 | -€217 | -100% |
| Other amounts receivable | 41 | €57,688 | €6,160 | -€51,527 | -89.3% |
| Cash at bank and in hand | 54/58 | €17,729 | €2,584 | -€15,145 | -85.4% |
| Deferred charges and accrued income | 490/1 | €1,525 | €1,091 | -€434 | -28.4% |
| Total equity and liabilities | 10/49 | €556,716 | €612,522 | +€55,805 | +10.0% |
| Equity | 10/15 | €450,609 | €437,842 | -€12,767 | -2.8% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €432,009 | €432,009 | = | 0.0% |
| Distributable reserves | 133 | €432,009 | €432,009 | = | 0.0% |
| Profit (loss) carried forward | 14 | €0 | -€12,767 | -€12,767 | |
| Amounts payable | 17/49 | €106,108 | €174,680 | +€68,572 | +64.6% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €100,932 | €174,680 | +€73,747 | +73.1% |
| Current portion of amounts payable after more than one year | 42 | €0 | - | = | |
| Trade debts | 44 | €2,897 | €6,135 | +€3,238 | +112% |
| Suppliers | 440/4 | €2,897 | €6,135 | +€3,238 | +112% |
| Taxes, remuneration and social security | 45 | €2,218 | €47 | -€2,171 | -97.9% |
| Taxes | 450/3 | €2,218 | €47 | -€2,171 | -97.9% |
| Other amounts payable | 47/48 | €95,818 | €168,498 | +€72,680 | +75.9% |
| Accrued charges and deferred income | 492/3 | €5,176 | €0 | -€5,176 | -100% |
| Remuneration, social security and pensions | 62 | - | -€5,000 | -€5,000 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,229 | €14,707 | +€8,478 | +136% |
| Other operating charges | 640/8 | €1,943 | €2,647 | +€704 | +36.2% |
| Gross operating margin | 9900 | -€6,922 | €4,624 | +€11,545 | |
| Operating profit (loss) | 9901 | -€15,093 | -€7,730 | +€7,363 | +48.8% |
| Financial income | 75/76B | €122,441 | €53 | -€122,388 | -100.0% |
| Recurring financial income | 75 | €110 | €53 | -€57 | -51.6% |
| Non-recurring financial income | 76B | €122,331 | €0 | -€122,331 | -100% |
| Financial charges | 65/66B | €13,927 | €74 | -€13,853 | -99.5% |
| Recurring financial charges | 65 | €13,927 | €74 | -€13,853 | -99.5% |
| Profit (loss) for the period before taxes | 9903 | €93,421 | -€7,751 | -€101,172 | |
| Income taxes | 67/77 | €366 | €5,016 | +€4,650 | +1,272% |
| Profit (loss) for the period | 9904 | €93,055 | -€12,767 | -€105,822 | |
| Profit (loss) for the period to be appropriated | 9905 | €93,055 | -€12,767 | -€105,822 |
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 20 October 2026 via checked.be.