LE 411: 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 411
Largest movements
- Current investments -€213,685
down €213,685 (-15.1%), from €1.4m to €1.2m
- Receivables within one year +€47,106
new in 2025: €47,106
- Cash +€29,269
up €29,269 (+1146.0%), from €2,554 to €31,823
mainly Current investments (+€213,685) and Net result for the year (+€41,441)
- Other debts -€190,108
down €190,108 (-25.5%), from €745,668 to €555,560
- Profit (loss) carried forward +€41,441
up €41,441 (+9.3%), from €445,573 to €487,014
- Financial income -€5,144
down €5,144 (-29.6%), from €17,403 to €12,258
- Taxes -€4,167
down €4,167 (-30.4%), from €13,724 to €9,558
- Financial charges -€1,180
down €1,180 (-4.8%), from €24,803 to €23,623
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 | €1,972,723 | €1,835,414 | -€137,309 | -7.0% |
| Fixed assets | 21/28 | €556,383 | €556,383 | = | 0.0% |
| Tangible fixed assets | 22/27 | €556,383 | €556,383 | = | 0.0% |
| Land and buildings | 22 | €556,383 | €556,383 | = | 0.0% |
| Current assets | 29/58 | €1,416,340 | €1,279,030 | -€137,309 | -9.7% |
| Amounts receivable within one year | 40/41 | - | €47,106 | +€47,106 | |
| Other amounts receivable | 41 | - | €47,106 | +€47,106 | |
| Current investments | 50/53 | €1,413,786 | €1,200,101 | -€213,685 | -15.1% |
| Cash at bank and in hand | 54/58 | €2,554 | €31,823 | +€29,269 | +1146.0% |
| Total equity and liabilities | 10/49 | €1,972,723 | €1,835,414 | -€137,309 | -7.0% |
| Equity | 10/15 | €1,153,249 | €1,194,690 | +€41,441 | +3.6% |
| Contributions | 10/11 | €317,502 | €317,502 | = | 0.0% |
| Reserves | 13 | €390,174 | €390,174 | = | 0.0% |
| Non-distributable reserves | 130/1 | €15,663 | €15,663 | = | 0.0% |
| Other | 1319 | €15,663 | €15,663 | = | 0.0% |
| Distributable reserves | 133 | €374,511 | €374,511 | = | 0.0% |
| Profit (loss) carried forward | 14 | €445,573 | €487,014 | +€41,441 | +9.3% |
| Amounts payable | 17/49 | €819,474 | €640,724 | -€178,751 | -21.8% |
| Amounts payable within one year | 42/48 | €771,187 | €576,765 | -€194,422 | -25.2% |
| Current portion of amounts payable after more than one year | 42 | €2,817 | - | -€2,817 | |
| Trade debts | 44 | €1,978 | €3,490 | +€1,513 | +76.5% |
| Suppliers | 440/4 | €1,978 | €3,490 | +€1,513 | +76.5% |
| Taxes, remuneration and social security | 45 | €20,725 | €17,715 | -€3,010 | -14.5% |
| Taxes | 450/3 | €20,725 | €17,715 | -€3,010 | -14.5% |
| Other amounts payable | 47/48 | €745,668 | €555,560 | -€190,108 | -25.5% |
| Accrued charges and deferred income | 492/3 | €48,287 | €63,958 | +€15,671 | +32.5% |
| Other operating charges | 640/8 | - | €108 | +€108 | |
| Gross operating margin | 9900 | €62,222 | €62,472 | +€249 | +0.4% |
| Operating profit (loss) | 9901 | €62,222 | €62,364 | +€142 | +0.2% |
| Financial income | 75/76B | €17,403 | €12,258 | -€5,144 | -29.6% |
| Recurring financial income | 75 | €17,403 | €12,258 | -€5,144 | -29.6% |
| Financial charges | 65/66B | €24,803 | €23,623 | -€1,180 | -4.8% |
| Recurring financial charges | 65 | €24,803 | €23,623 | -€1,180 | -4.8% |
| Profit (loss) for the period before taxes | 9903 | €54,822 | €50,999 | -€3,823 | -7.0% |
| Income taxes | 67/77 | €13,724 | €9,558 | -€4,167 | -30.4% |
| Profit (loss) for the period | 9904 | €41,097 | €41,441 | +€344 | +0.8% |
| Profit (loss) for the period to be appropriated | 9905 | €41,097 | €41,441 | +€344 | +0.8% |
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.