LE 222: 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.
LE 222
Largest movements
- Tangible fixed assets -€96,427
down €96,427 (-8.0%), from €1.2m to €1.1m
of which Land and buildings: -€59,269
- Cash -€61,080
down €61,080 (-71.4%), from €85,559 to €24,479
mainly Debts after one year (-€96,474) and Tax, wage and social debts (-€33,058)
- Receivables within one year -€34,912
down €34,912 (-65.0%), from €53,751 to €18,838
of which Other amounts receivable: -€42,558
- Debts after one year -€96,474
down €96,474 (-10.4%), from €927,766 to €831,292
of which Financial debts: -€97,374
- Tax, wage and social debts -€33,058
down €33,058 (-55.4%), from €59,700 to €26,642
of which Remuneration and social security: -€25,442
- Current portion of long-term debt -€30,759
down €30,759 (-22.3%), from €138,187 to €107,428
- Profit (loss) carried forward -€22,598
down €22,598 (-23.3%), from €96,845 to €74,247
- Gross operating margin -€166,350
down €166,350 (-33.5%), from €497,220 to €330,871
- Staff costs -€113,327
down €113,327 (-38.9%), from €291,425 to €178,098
- Financial charges -€31,378
down €31,378 (-46.9%), from €66,914 to €35,536
- Other operating charges -€9,435
down €9,435 (-53.4%), from €17,669 to €8,235
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 | €1,352,934 | €1,158,371 | -€194,563 | -14.4% |
| Fixed assets | 21/28 | €1,202,729 | €1,106,302 | -€96,427 | -8.0% |
| Tangible fixed assets | 22/27 | €1,202,629 | €1,106,202 | -€96,427 | -8.0% |
| Land and buildings | 22 | €972,286 | €913,017 | -€59,269 | -6.1% |
| Plant, machinery and equipment | 23 | €227,615 | €184,971 | -€42,644 | -18.7% |
| Furniture and vehicles | 24 | €2,728 | €8,213 | +€5,485 | +201.1% |
| Financial fixed assets | 28 | €100 | €100 | = | 0.0% |
| Current assets | 29/58 | €150,205 | €52,070 | -€98,136 | -65.3% |
| Stocks and contracts in progress | 3 | €8,095 | €8,500 | +€405 | +5.0% |
| Stocks | 30/36 | €8,095 | €8,500 | +€405 | +5.0% |
| Amounts receivable within one year | 40/41 | €53,751 | €18,838 | -€34,912 | -65.0% |
| Trade receivables | 40 | €6,869 | €14,515 | +€7,646 | +111.3% |
| Other amounts receivable | 41 | €46,881 | €4,323 | -€42,558 | -90.8% |
| Cash at bank and in hand | 54/58 | €85,559 | €24,479 | -€61,080 | -71.4% |
| Deferred charges and accrued income | 490/1 | €2,801 | €253 | -€2,548 | -91.0% |
| Total equity and liabilities | 10/49 | €1,352,934 | €1,158,371 | -€194,563 | -14.4% |
| Equity | 10/15 | €167,305 | €144,707 | -€22,598 | -13.5% |
| Contributions | 10/11 | €68,600 | €68,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 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% |
| Profit (loss) carried forward | 14 | €96,845 | €74,247 | -€22,598 | -23.3% |
| Amounts payable | 17/49 | €1,185,629 | €1,013,664 | -€171,965 | -14.5% |
| Amounts payable after more than one year | 17 | €927,766 | €831,292 | -€96,474 | -10.4% |
| Financial debts | 170/4 | €924,106 | €826,732 | -€97,374 | -10.5% |
| Other amounts payable | 178/9 | €3,660 | €4,560 | +€900 | +24.6% |
| Amounts payable within one year | 42/48 | €249,240 | €182,372 | -€66,868 | -26.8% |
| Current portion of amounts payable after more than one year | 42 | €138,187 | €107,428 | -€30,759 | -22.3% |
| Trade debts | 44 | €38,022 | €48,303 | +€10,281 | +27.0% |
| Suppliers | 440/4 | €38,022 | €48,303 | +€10,281 | +27.0% |
| Advances received on contracts in progress | 46 | €2,332 | - | -€2,332 | |
| Taxes, remuneration and social security | 45 | €59,700 | €26,642 | -€33,058 | -55.4% |
| Taxes | 450/3 | €25,290 | €17,673 | -€7,616 | -30.1% |
| Remuneration and social security | 454/9 | €34,410 | €8,968 | -€25,442 | -73.9% |
| Other amounts payable | 47/48 | €11,000 | - | -€11,000 | |
| Accrued charges and deferred income | 492/3 | €8,623 | - | -€8,623 | |
| Non-recurring operating income | 76A | €15,130 | €3,045 | -€12,086 | -79.9% |
| Remuneration, social security and pensions | 62 | €291,425 | €178,098 | -€113,327 | -38.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €102,301 | €106,198 | +€3,898 | +3.8% |
| Other operating charges | 640/8 | €17,669 | €8,235 | -€9,435 | -53.4% |
| Non-recurring operating charges | 66A | - | €25,473 | +€25,473 | |
| Gross operating margin | 9900 | €497,220 | €330,871 | -€166,350 | -33.5% |
| Operating profit (loss) | 9901 | €85,826 | €12,867 | -€72,958 | -85.0% |
| Financial income | 75/76B | - | €292 | +€292 | |
| Recurring financial income | 75 | - | €292 | +€292 | |
| Financial charges | 65/66B | €66,914 | €35,536 | -€31,378 | -46.9% |
| Recurring financial charges | 65 | €66,914 | €35,536 | -€31,378 | -46.9% |
| Profit (loss) for the period before taxes | 9903 | €18,911 | -€22,378 | -€41,289 | |
| Income taxes | 67/77 | €491 | €220 | -€271 | -55.2% |
| Profit (loss) for the period | 9904 | €18,420 | -€22,598 | -€41,018 | |
| Profit (loss) for the period to be appropriated | 9905 | €18,420 | -€22,598 | -€41,018 |
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 10 October 2026 via checked.be.