Le 654: 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 654
Largest movements
- Cash +€61,672
up €61,672 (+49.4%), from €124,724 to €186,396
mainly Depreciation (+€44,935) and Net result for the year (+€33,253)
- Tangible fixed assets -€45,153
down €45,153 (-5.0%), from €911,245 to €866,092
of which Land and buildings: -€50,349
- Profit (loss) carried forward +€33,253
up €33,253 (+27.1%), from -€122,553 to -€89,301
- Debts after one year -€25,000
down €25,000 (-4.4%), from €567,500 to €542,500
- Depreciation +€1,821
up €1,821 (+4.2%), from €43,114 to €44,935
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 | €1,050,988 | €1,057,820 | +€6,832 | +0.7% |
| Fixed assets | 21/28 | €913,201 | €868,048 | -€45,153 | -4.9% |
| Tangible fixed assets | 22/27 | €911,245 | €866,092 | -€45,153 | -5.0% |
| Land and buildings | 22 | €904,605 | €854,256 | -€50,349 | -5.6% |
| Plant, machinery and equipment | 23 | €6,640 | €11,836 | +€5,196 | +78.3% |
| Financial fixed assets | 28 | €1,956 | €1,956 | = | 0.0% |
| Current assets | 29/58 | €137,787 | €189,772 | +€51,985 | +37.7% |
| Amounts receivable within one year | 40/41 | - | €146 | +€146 | |
| Trade receivables | 40 | - | €146 | +€146 | |
| Cash at bank and in hand | 54/58 | €124,724 | €186,396 | +€61,672 | +49.4% |
| Deferred charges and accrued income | 490/1 | €13,062 | €3,229 | -€9,833 | -75.3% |
| Total equity and liabilities | 10/49 | €1,050,988 | €1,057,820 | +€6,832 | +0.7% |
| Equity | 10/15 | €397,447 | €430,699 | +€33,253 | +8.4% |
| Contributions | 10/11 | €520,000 | €520,000 | = | 0.0% |
| Capital | 10 | €520,000 | €520,000 | = | 0.0% |
| Issued capital | 100 | €520,000 | €520,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€122,553 | -€89,301 | +€33,253 | +27.1% |
| Amounts payable | 17/49 | €653,541 | €627,121 | -€26,420 | -4.0% |
| Amounts payable after more than one year | 17 | €567,500 | €542,500 | -€25,000 | -4.4% |
| Other amounts payable | 178/9 | €567,500 | €542,500 | -€25,000 | -4.4% |
| Amounts payable within one year | 42/48 | €52,651 | €46,242 | -€6,409 | -12.2% |
| Trade debts | 44 | €6,619 | - | -€6,619 | |
| Suppliers | 440/4 | €6,619 | - | -€6,619 | |
| Taxes, remuneration and social security | 45 | €174 | €43 | -€131 | -75.1% |
| Taxes | 450/3 | €174 | €43 | -€131 | -75.1% |
| Other amounts payable | 47/48 | €45,857 | €46,198 | +€341 | +0.7% |
| Accrued charges and deferred income | 492/3 | €33,390 | €38,379 | +€4,989 | +14.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €43,114 | €44,935 | +€1,821 | +4.2% |
| Other operating charges | 640/8 | €17,980 | €19,237 | +€1,257 | +7.0% |
| Gross operating margin | 9900 | €126,906 | €127,153 | +€248 | +0.2% |
| Operating profit (loss) | 9901 | €65,811 | €62,981 | -€2,830 | -4.3% |
| Financial charges | 65/66B | €29,784 | €29,685 | -€99 | -0.3% |
| Recurring financial charges | 65 | €29,784 | €29,685 | -€99 | -0.3% |
| Profit (loss) for the period before taxes | 9903 | €36,027 | €33,296 | -€2,731 | -7.6% |
| Income taxes | 67/77 | €174 | €43 | -€131 | -75.1% |
| Profit (loss) for the period | 9904 | €35,853 | €33,253 | -€2,600 | -7.3% |
| Profit (loss) for the period to be appropriated | 9905 | €35,853 | €33,253 | -€2,600 | -7.3% |
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 3 October 2026 via checked.be.