L & EE: 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.
L & EE
Largest movements
- Cash -€4,806
down €4,806 (-70.1%), from €6,857 to €2,051
mainly Net result for the year (-€18,813) and Investment in fixed assets (net) (-€4,533)
- Deferred charges and accrued income -€2,516
no longer reported in 2025 (was €2,516)
- Receivables within one year +€2,464
up €2,464 (+16.6%), from €14,825 to €17,289
of which Trade receivables: +€3,016
- Profit (loss) carried forward -€18,813
down €18,813 (-69.1%), from -€27,228 to -€46,041
- Other debts +€15,531
up €15,531 (+139%), from €11,176 to €26,707
- Trade debts -€2,943
no longer reported in 2025 (was €2,943)
- Gross operating margin -€9,094
down €9,094 (-331%), from -€2,745 to -€11,839
- Depreciation -€3,648
down €3,648 (-43.4%), from €8,399 to €4,751
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 | €132,843 | €127,766 | -€5,077 | -3.8% |
| Fixed assets | 21/28 | €108,645 | €108,426 | -€219 | -0.2% |
| Tangible fixed assets | 22/27 | €108,645 | €108,426 | -€219 | -0.2% |
| Land and buildings | 22 | €104,804 | €105,866 | +€1,062 | +1.0% |
| Plant, machinery and equipment | 23 | €3,005 | €2,003 | -€1,002 | -33.3% |
| Furniture and vehicles | 24 | €836 | €557 | -€279 | -33.3% |
| Current assets | 29/58 | €24,198 | €19,340 | -€4,858 | -20.1% |
| Amounts receivable within one year | 40/41 | €14,825 | €17,289 | +€2,464 | +16.6% |
| Trade receivables | 40 | €14,273 | €17,289 | +€3,016 | +21.1% |
| Other amounts receivable | 41 | €552 | - | -€552 | |
| Cash at bank and in hand | 54/58 | €6,857 | €2,051 | -€4,806 | -70.1% |
| Deferred charges and accrued income | 490/1 | €2,516 | - | -€2,516 | |
| Total equity and liabilities | 10/49 | €132,843 | €127,766 | -€5,077 | -3.8% |
| Equity | 10/15 | €115,772 | €96,959 | -€18,813 | -16.3% |
| Contributions | 10/11 | €130,000 | €130,000 | = | 0.0% |
| Capital | 10 | €130,000 | €130,000 | = | 0.0% |
| Issued capital | 100 | €130,000 | €130,000 | = | 0.0% |
| Reserves | 13 | €13,000 | €13,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €13,000 | €13,000 | = | 0.0% |
| Legal reserve | 130 | €13,000 | €13,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€27,228 | -€46,041 | -€18,813 | -69.1% |
| Amounts payable | 17/49 | €17,071 | €30,807 | +€13,737 | +80.5% |
| Amounts payable after more than one year | 17 | €2,850 | €2,850 | = | 0.0% |
| Other amounts payable | 178/9 | €2,850 | €2,850 | = | 0.0% |
| Amounts payable within one year | 42/48 | €14,221 | €27,957 | +€13,737 | +96.6% |
| Trade debts | 44 | €2,943 | - | -€2,943 | |
| Suppliers | 440/4 | €2,943 | - | -€2,943 | |
| Taxes, remuneration and social security | 45 | €102 | €1,250 | +€1,148 | +1,128% |
| Taxes | 450/3 | €102 | €1,250 | +€1,148 | +1,128% |
| Other amounts payable | 47/48 | €11,176 | €26,707 | +€15,531 | +139% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €8,399 | €4,751 | -€3,648 | -43.4% |
| Other operating charges | 640/8 | €2,260 | €2,193 | -€67 | -3.0% |
| Gross operating margin | 9900 | -€2,745 | -€11,839 | -€9,094 | -331% |
| Operating profit (loss) | 9901 | -€13,404 | -€18,784 | -€5,379 | -40.1% |
| Financial charges | 65/66B | €48 | €29 | -€18 | -38.2% |
| Recurring financial charges | 65 | €48 | €29 | -€18 | -38.2% |
| Profit (loss) for the period before taxes | 9903 | -€13,452 | -€18,813 | -€5,361 | -39.9% |
| Profit (loss) for the period | 9904 | -€13,452 | -€18,813 | -€5,361 | -39.9% |
| Profit (loss) for the period to be appropriated | 9905 | -€13,452 | -€18,813 | -€5,361 | -39.9% |
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 13 October 2026 via checked.be.