LE: 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.
LE
Largest movements
- Cash -€48,078
down €48,078 (-88.9%), from €54,073 to €5,995
mainly Investment in fixed assets (net) (-€48,986) and Trade debts (-€19,881)
- Tangible fixed assets +€32,305
up €32,305 (+31.3%), from €103,273 to €135,578
of which Other tangible fixed assets: +€34,930
- Trade debts -€19,881
down €19,881 (-54.6%), from €36,405 to €16,524
- Other debts +€12,846
up €12,846 (+23.5%), from €54,723 to €67,569
- Debts after one year -€6,016
down €6,016 (-22.6%), from €26,594 to €20,578
- Tax, wage and social debts -€4,435
down €4,435 (-44.3%), from €10,003 to €5,567
- Depreciation +€7,194
up €7,194 (+75.8%), from €9,487 to €16,680
- Taxes -€2,869
down €2,869 (-76.1%), from €3,769 to €901
- Gross operating margin -€1,524
down €1,524 (-5.3%), from €28,945 to €27,421
- Other operating charges +€573
up €573 (+15.9%), from €3,591 to €4,163
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 | €167,632 | €150,709 | -€16,923 | -10.1% |
| Fixed assets | 21/28 | €107,353 | €139,658 | +€32,305 | +30.1% |
| Tangible fixed assets | 22/27 | €103,273 | €135,578 | +€32,305 | +31.3% |
| Land and buildings | 22 | €7,694 | €7,495 | -€199 | -2.6% |
| Furniture and vehicles | 24 | €24,281 | €21,854 | -€2,426 | -10.0% |
| Other tangible fixed assets | 26 | €71,298 | €106,228 | +€34,930 | +49.0% |
| Financial fixed assets | 28 | €4,080 | €4,080 | = | 0.0% |
| Current assets | 29/58 | €60,279 | €11,051 | -€49,228 | -81.7% |
| Amounts receivable within one year | 40/41 | €5,507 | €4,316 | -€1,192 | -21.6% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €5,507 | €4,316 | -€1,192 | -21.6% |
| Cash at bank and in hand | 54/58 | €54,073 | €5,995 | -€48,078 | -88.9% |
| Deferred charges and accrued income | 490/1 | €699 | €740 | +€41 | +5.9% |
| Total equity and liabilities | 10/49 | €167,632 | €150,709 | -€16,923 | -10.1% |
| Equity | 10/15 | €30,775 | €31,863 | +€1,089 | +3.5% |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €28,775 | €29,863 | +€1,089 | +3.8% |
| Amounts payable | 17/49 | €136,857 | €118,845 | -€18,012 | -13.2% |
| Amounts payable after more than one year | 17 | €26,594 | €20,578 | -€6,016 | -22.6% |
| Financial debts | 170/4 | €26,594 | €20,578 | -€6,016 | -22.6% |
| Amounts payable within one year | 42/48 | €108,375 | €96,088 | -€12,286 | -11.3% |
| Current portion of amounts payable after more than one year | 42 | €5,720 | €6,016 | +€296 | +5.2% |
| Financial debts | 43 | €1,524 | €413 | -€1,111 | -72.9% |
| Other loans | 439 | €1,524 | €413 | -€1,111 | -72.9% |
| Trade debts | 44 | €36,405 | €16,524 | -€19,881 | -54.6% |
| Suppliers | 440/4 | €36,405 | €16,524 | -€19,881 | -54.6% |
| Taxes, remuneration and social security | 45 | €10,003 | €5,567 | -€4,435 | -44.3% |
| Taxes | 450/3 | €10,003 | €5,567 | -€4,435 | -44.3% |
| Other amounts payable | 47/48 | €54,723 | €67,569 | +€12,846 | +23.5% |
| Accrued charges and deferred income | 492/3 | €1,889 | €2,179 | +€290 | +15.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,487 | €16,680 | +€7,194 | +75.8% |
| Other operating charges | 640/8 | €3,591 | €4,163 | +€573 | +15.9% |
| Non-recurring operating charges | 66A | €339 | €0 | -€339 | -100.0% |
| Gross operating margin | 9900 | €28,945 | €27,421 | -€1,524 | -5.3% |
| Operating profit (loss) | 9901 | €15,528 | €6,578 | -€8,951 | -57.6% |
| Financial income | 75/76B | €0 | €0 | -€0 | -100.0% |
| Recurring financial income | 75 | €0 | €0 | -€0 | -100.0% |
| Financial charges | 65/66B | €4,539 | €4,589 | +€50 | +1.1% |
| Recurring financial charges | 65 | €4,539 | €4,589 | +€50 | +1.1% |
| Profit (loss) for the period before taxes | 9903 | €10,990 | €1,989 | -€9,001 | -81.9% |
| Income taxes | 67/77 | €3,769 | €901 | -€2,869 | -76.1% |
| Profit (loss) for the period | 9904 | €7,221 | €1,089 | -€6,132 | -84.9% |
| Profit (loss) for the period to be appropriated | 9905 | €7,221 | €1,089 | -€6,132 | -84.9% |
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 29 September 2026 via checked.be.