L.E. PIANO CONTROL: what changed
Two fiscal 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.
L.E. PIANO CONTROL
Largest movements
- Receivables within one year +€27,045
up €27,045 (+55.2%), from €48,999 to €76,044
of which Other amounts receivable: +€14,691
- Tangible fixed assets +€11,212
up €11,212 (+15.5%), from €72,495 to €83,707
of which Plant, machinery and equipment: +€13,364
- Stocks and contracts -€10,526
down €10,526 (-38.4%), from €27,396 to €16,870
- Cash +€10,281
up €10,281 (+38.8%), from €26,529 to €36,810
mainly Other debts (+€29,164) and Depreciation (+€22,708)
- Other debts +€29,164
up €29,164 (+37.6%), from €77,593 to €106,757
- Profit (loss) carried forward -€11,884
down €11,884 (-41.3%), from €28,747 to €16,864
- Trade debts +€10,640
up €10,640 (+42.5%), from €25,028 to €35,669
of which Suppliers: +€10,963
- Tax, wage and social debts +€8,366
up €8,366 (+196.2%), from €4,265 to €12,631
of which Taxes: +€8,360
- Current portion of long-term debt +€3,285
up €3,285 (+35.5%), from €9,255 to €12,540
- Gross operating margin -€56,558
down €56,558 (-76.2%), from €74,211 to €17,653
- Taxes -€10,432
down €10,432 (-97.0%), from €10,756 to €324
- Depreciation -€3,244
down €3,244 (-12.5%), from €25,952 to €22,708
- Other operating charges -€1,776
down €1,776 (-27.5%), from €6,466 to €4,690
- Financial charges -€819
down €819 (-29.3%), from €2,798 to €1,979
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.
Cash bridge derived
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 | €176,176 | €214,534 | +€38,358 | +21.8% |
| Fixed assets | 21/28 | €72,495 | €83,707 | +€11,212 | +15.5% |
| Tangible fixed assets | 22/27 | €72,495 | €83,707 | +€11,212 | +15.5% |
| Plant, machinery and equipment | 23 | €7,284 | €20,648 | +€13,364 | +183.5% |
| Furniture and vehicles | 24 | €65,211 | €49,792 | -€15,420 | -23.6% |
| Other tangible fixed assets | 26 | - | €7,512 | +€7,512 | |
| Assets under construction and advance payments | 27 | - | €5,755 | +€5,755 | |
| Current assets | 29/58 | €103,681 | €130,827 | +€27,146 | +26.2% |
| Stocks and contracts in progress | 3 | €27,396 | €16,870 | -€10,526 | -38.4% |
| Stocks | 30/36 | €27,396 | €16,870 | -€10,526 | -38.4% |
| Amounts receivable within one year | 40/41 | €48,999 | €76,044 | +€27,045 | +55.2% |
| Trade receivables | 40 | €39,754 | €52,109 | +€12,355 | +31.1% |
| Other amounts receivable | 41 | €9,244 | €23,935 | +€14,691 | +158.9% |
| Cash at bank and in hand | 54/58 | €26,529 | €36,810 | +€10,281 | +38.8% |
| Deferred charges and accrued income | 490/1 | €758 | €1,103 | +€346 | +45.6% |
| Total equity and liabilities | 10/49 | €176,176 | €214,534 | +€38,358 | +21.8% |
| Equity | 10/15 | €29,747 | €17,864 | -€11,884 | -39.9% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,747 | €16,864 | -€11,884 | -41.3% |
| Amounts payable | 17/49 | €146,428 | €196,670 | +€50,241 | +34.3% |
| Amounts payable after more than one year | 17 | €29,934 | €29,073 | -€861 | -2.9% |
| Financial debts | 170/4 | €29,934 | €29,073 | -€861 | -2.9% |
| Amounts payable within one year | 42/48 | €116,141 | €167,597 | +€51,455 | +44.3% |
| Current portion of amounts payable after more than one year | 42 | €9,255 | €12,540 | +€3,285 | +35.5% |
| Trade debts | 44 | €25,028 | €35,669 | +€10,640 | +42.5% |
| Suppliers | 440/4 | €24,453 | €35,416 | +€10,963 | +44.8% |
| Bills of exchange payable | 441 | €575 | €253 | -€322 | -56.0% |
| Taxes, remuneration and social security | 45 | €4,265 | €12,631 | +€8,366 | +196.2% |
| Taxes | 450/3 | €2,046 | €10,406 | +€8,360 | +408.6% |
| Remuneration and social security | 454/9 | €2,219 | €2,225 | +€6 | +0.3% |
| Other amounts payable | 47/48 | €77,593 | €106,757 | +€29,164 | +37.6% |
| Accrued charges and deferred income | 492/3 | €353 | - | -€353 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €25,952 | €22,708 | -€3,244 | -12.5% |
| Other operating charges | 640/8 | €6,466 | €4,690 | -€1,776 | -27.5% |
| Gross operating margin | 9900 | €74,211 | €17,653 | -€56,558 | -76.2% |
| Operating profit (loss) | 9901 | €41,794 | -€9,745 | -€51,538 | |
| Financial income | 75/76B | €507 | €164 | -€343 | -67.7% |
| Recurring financial income | 75 | €507 | €164 | -€343 | -67.7% |
| Financial charges | 65/66B | €2,798 | €1,979 | -€819 | -29.3% |
| Recurring financial charges | 65 | €2,798 | €1,979 | -€819 | -29.3% |
| Profit (loss) for the period before taxes | 9903 | €39,503 | -€11,560 | -€51,063 | |
| Income taxes | 67/77 | €10,756 | €324 | -€10,432 | -97.0% |
| Profit (loss) for the period | 9904 | €28,747 | -€11,884 | -€40,631 | |
| Profit (loss) for the period to be appropriated | 9905 | €28,747 | -€11,884 | -€40,631 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.