LAURENT LEFEVRE: 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.
LAURENT LEFEVRE
Largest movements
- Cash -€212,457
down €212,457 (-87.6%), from €242,581 to €30,124
mainly Other debts (-€477,562) and Investment in fixed assets (net) (-€22,405)
- Tangible fixed assets -€89,669
down €89,669 (-24.6%), from €365,036 to €275,367
of which Furniture and vehicles: -€92,944
- Intangible fixed assets -€16,000
down €16,000 (-25.0%), from €64,000 to €48,000
- Deferred charges and accrued income +€8,162
new in 2025: €8,162
- Other debts -€477,562
down €477,562 (-94.5%), from €505,237 to €27,674
- Debts after one year +€148,407
up €148,407 (+132%), from €112,540 to €260,947
- Current portion of long-term debt +€24,278
up €24,278 (+94.4%), from €25,719 to €49,997
- Staff costs +€34,197
up €34,197 (+17.9%), from €191,389 to €225,586
- Gross operating margin -€13,714
down €13,714 (-3.6%), from €382,445 to €368,731
- Financial charges +€6,475
up €6,475 (+85.2%), from €7,603 to €14,079
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 | €672,696 | €369,488 | -€303,208 | -45.1% |
| Fixed assets | 21/28 | €429,036 | €323,367 | -€105,668 | -24.6% |
| Intangible fixed assets | 21 | €64,000 | €48,000 | -€16,000 | -25.0% |
| Tangible fixed assets | 22/27 | €365,036 | €275,367 | -€89,669 | -24.6% |
| Plant, machinery and equipment | 23 | €110,812 | €114,087 | +€3,275 | +3.0% |
| Furniture and vehicles | 24 | €254,224 | €161,280 | -€92,944 | -36.6% |
| Current assets | 29/58 | €243,661 | €46,121 | -€197,539 | -81.1% |
| Stocks and contracts in progress | 3 | €1,072 | €1,326 | +€254 | +23.7% |
| Stocks | 30/36 | €1,072 | €1,326 | +€254 | +23.7% |
| Amounts receivable within one year | 40/41 | €8 | €6,509 | +€6,501 | +81,259% |
| Trade receivables | 40 | €8 | - | -€8 | |
| Other amounts receivable | 41 | - | €6,509 | +€6,509 | |
| Cash at bank and in hand | 54/58 | €242,581 | €30,124 | -€212,457 | -87.6% |
| Deferred charges and accrued income | 490/1 | - | €8,162 | +€8,162 | |
| Total equity and liabilities | 10/49 | €672,696 | €369,488 | -€303,208 | -45.1% |
| Equity | 10/15 | -€244 | -€167 | +€77 | +31.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€18,844 | -€18,767 | +€77 | +0.4% |
| Amounts payable | 17/49 | €672,940 | €369,655 | -€303,285 | -45.1% |
| Amounts payable after more than one year | 17 | €112,540 | €260,947 | +€148,407 | +132% |
| Financial debts | 170/4 | €112,540 | €260,947 | +€148,407 | +132% |
| Amounts payable within one year | 42/48 | €559,755 | €108,708 | -€451,047 | -80.6% |
| Current portion of amounts payable after more than one year | 42 | €25,719 | €49,997 | +€24,278 | +94.4% |
| Trade debts | 44 | €1,281 | €7,524 | +€6,243 | +488% |
| Suppliers | 440/4 | €1,281 | €7,524 | +€6,243 | +488% |
| Taxes, remuneration and social security | 45 | €27,518 | €23,513 | -€4,006 | -14.6% |
| Taxes | 450/3 | €6,297 | - | -€6,297 | |
| Remuneration and social security | 454/9 | €21,221 | €23,513 | +€2,291 | +10.8% |
| Other amounts payable | 47/48 | €505,237 | €27,674 | -€477,562 | -94.5% |
| Accrued charges and deferred income | 492/3 | €645 | - | -€645 | |
| Remuneration, social security and pensions | 62 | €191,389 | €225,586 | +€34,197 | +17.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €127,178 | €128,074 | +€895 | +0.7% |
| Other operating charges | 640/8 | €1,999 | €944 | -€1,055 | -52.8% |
| Gross operating margin | 9900 | €382,445 | €368,731 | -€13,714 | -3.6% |
| Operating profit (loss) | 9901 | €61,878 | €14,127 | -€47,751 | -77.2% |
| Financial income | 75/76B | €31 | €29 | -€2 | -7.7% |
| Recurring financial income | 75 | €31 | €29 | -€2 | -7.7% |
| Financial charges | 65/66B | €7,603 | €14,079 | +€6,475 | +85.2% |
| Recurring financial charges | 65 | €7,603 | €14,079 | +€6,475 | +85.2% |
| Profit (loss) for the period before taxes | 9903 | €54,305 | €77 | -€54,229 | -99.9% |
| Profit (loss) for the period | 9904 | €54,305 | €77 | -€54,229 | -99.9% |
| Profit (loss) for the period to be appropriated | 9905 | €54,305 | €77 | -€54,229 | -99.9% |
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 19 October 2026 via checked.be.