L.E. SYSTEM: 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.
What changed
L.E. SYSTEM
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€9,828
2024 · €18,547-€8,718
Equity
€66,793
2024 · €531,948-€465,155
Cash
€19,880
2024 · €12,776+€7,104
Balance sheet total
€283,786
2024 · €1.0m-€743,154
Largest movements
Assets
- Tangible fixed assets -€542,260
down €542,260 (-98.3%), from €551,876 to €9,616
of which Land and buildings: -€536,733
- Receivables after one year -€130,000
no longer reported in 2025 (was €130,000)
- Receivables within one year -€71,949
down €71,949 (-23.2%), from €309,560 to €237,611
of which Other amounts receivable: -€160,078
Equity and liabilities
- Revaluation surpluses -€474,983
no longer reported in 2025 (was €474,983)
- Advances received -€185,050
no longer reported in 2025 (was €185,050)
- Trade debts -€94,246
down €94,246 (-44.6%), from €211,087 to €116,841
- Provisions -€69,969
no longer reported in 2025 (was €69,969)
- Accrued charges and deferred income +€65,314
up €65,314 (+3437.6%), from €1,900 to €67,214
Income statement
- Gross operating margin +€443,757
up €443,757 (+691.2%), from €64,202 to €507,959
- Provisions -€69,969
new in 2025: -€69,969
- Taxes -€21,459
down €21,459 (-82.3%), from €26,085 to €4,626
- Depreciation -€10,855
down €10,855 (-66.3%), from €16,382 to €5,527
- Financial charges +€9,015
up €9,015 (+718.6%), from €1,255 to €10,270
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.
Result 2024
€18,547
Gross operating margin
+€443,757
Staff costs
-€6,929
Depreciation
+€10,855
Provisions
+€69,969
Other operating charges
-€1,118
Other operating items
-€533,766
Financial income
-€3,930
Financial charges
-€9,015
Taxes
+€21,459
Result 2025
€9,828
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.
From operations
-€69,646
Investment
+€536,733
Financing
-€459,983
Cash 2024
€12,776
From operations (derived)
-€69,646
Net result for the year
+€9,828
Depreciation
+€5,527
Receivables after one year
+€130,000
Stocks and contracts
+€4,461
Receivables within one year
+€71,949
Deferred charges and accrued income
+€1,587
Provisions
-€69,969
Trade debts
-€94,246
Tax, wage and social debts
-€9,048
Advances received
-€185,050
Accrued charges and deferred income
+€65,314
Investment (derived)
+€536,733
Investment in fixed assets (net)
+€536,733
Financing
-€459,983
Debts after one year
+€25,000
Short-term financial debts
-€10,000
Contributions, distributions and other
-€474,983
Cash 2025
€19,880
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,026,940 | €283,786 | -€743,154 | -72.4% |
| Fixed assets | 21/28 | €551,886 | €9,626 | -€542,260 | -98.3% |
| Tangible fixed assets | 22/27 | €551,876 | €9,616 | -€542,260 | -98.3% |
| Land and buildings | 22 | €536,733 | - | -€536,733 | |
| Plant, machinery and equipment | 23 | €10,713 | €7,278 | -€3,435 | -32.1% |
| Furniture and vehicles | 24 | €4,430 | €2,338 | -€2,092 | -47.2% |
| Financial fixed assets | 28 | €10 | €10 | = | 0.0% |
| Current assets | 29/58 | €475,054 | €274,160 | -€200,893 | -42.3% |
| Amounts receivable after more than one year | 29 | €130,000 | - | -€130,000 | |
| Other amounts receivable | 291 | €130,000 | - | -€130,000 | |
| Stocks and contracts in progress | 3 | €21,112 | €16,651 | -€4,461 | -21.1% |
| Stocks | 30/36 | €11,112 | €16,651 | +€5,539 | +49.8% |
| Contracts in progress | 37 | €10,000 | - | -€10,000 | |
| Amounts receivable within one year | 40/41 | €309,560 | €237,611 | -€71,949 | -23.2% |
| Trade receivables | 40 | €134,372 | €222,501 | +€88,128 | +65.6% |
| Other amounts receivable | 41 | €175,188 | €15,110 | -€160,078 | -91.4% |
| Cash at bank and in hand | 54/58 | €12,776 | €19,880 | +€7,104 | +55.6% |
| Deferred charges and accrued income | 490/1 | €1,606 | €19 | -€1,587 | -98.8% |
| Total equity and liabilities | 10/49 | €1,026,940 | €283,786 | -€743,154 | -72.4% |
| Equity | 10/15 | €531,948 | €66,793 | -€465,155 | -87.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Revaluation surpluses | 12 | €474,983 | - | -€474,983 | |
| Reserves | 13 | €36,860 | €36,860 | = | 0.0% |
| 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 | €35,000 | €35,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,505 | €11,333 | +€9,828 | +653.0% |
| Provisions and deferred taxes | 16 | €69,969 | - | -€69,969 | |
| Provisions for liabilities and charges | 160/5 | €69,969 | - | -€69,969 | |
| Environmental obligations | 163 | €69,969 | - | -€69,969 | |
| Amounts payable | 17/49 | €425,022 | €216,993 | -€208,030 | -48.9% |
| Amounts payable after more than one year | 17 | - | €25,000 | +€25,000 | |
| Other amounts payable | 178/9 | - | €25,000 | +€25,000 | |
| Amounts payable within one year | 42/48 | €423,122 | €124,778 | -€298,344 | -70.5% |
| Financial debts | 43 | €10,000 | - | -€10,000 | |
| Credit institutions | 430/8 | €10,000 | - | -€10,000 | |
| Trade debts | 44 | €211,087 | €116,841 | -€94,246 | -44.6% |
| Suppliers | 440/4 | €211,087 | €116,841 | -€94,246 | -44.6% |
| Advances received on contracts in progress | 46 | €185,050 | - | -€185,050 | |
| Taxes, remuneration and social security | 45 | €16,985 | €7,938 | -€9,048 | -53.3% |
| Taxes | 450/3 | €16,985 | €7,938 | -€9,048 | -53.3% |
| Accrued charges and deferred income | 492/3 | €1,900 | €67,214 | +€65,314 | +3437.6% |
| Non-recurring operating income | 76A | - | €483,250 | +€483,250 | |
| Remuneration, social security and pensions | 62 | €601 | €7,531 | +€6,929 | +1152.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €16,382 | €5,527 | -€10,855 | -66.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | - | -€69,969 | -€69,969 | |
| Other operating charges | 640/8 | €5,603 | €6,721 | +€1,118 | +20.0% |
| Non-recurring operating charges | 66A | - | €533,766 | +€533,766 | |
| Gross operating margin | 9900 | €64,202 | €507,959 | +€443,757 | +691.2% |
| Operating profit (loss) | 9901 | €41,615 | €24,383 | -€17,232 | -41.4% |
| Financial income | 75/76B | €4,271 | €341 | -€3,930 | -92.0% |
| Recurring financial income | 75 | €4,271 | €341 | -€3,930 | -92.0% |
| Financial charges | 65/66B | €1,255 | €10,270 | +€9,015 | +718.6% |
| Recurring financial charges | 65 | €1,255 | €10,270 | +€9,015 | +718.6% |
| Profit (loss) for the period before taxes | 9903 | €44,631 | €14,454 | -€30,177 | -67.6% |
| Income taxes | 67/77 | €26,085 | €4,626 | -€21,459 | -82.3% |
| Profit (loss) for the period | 9904 | €18,547 | €9,828 | -€8,718 | -47.0% |
| Profit (loss) for the period to be appropriated | 9905 | €18,547 | €9,828 | -€8,718 | -47.0% |
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 7 October 2026 via checked.be.