LE 8: 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 8
Largest movements
- Tangible fixed assets +€383,353
up €383,353 (+1055.1%), from €36,332 to €419,684
of which Assets under construction and advance payments: +€392,560
- Cash -€90,702
down €90,702 (-75.6%), from €119,993 to €29,291
mainly Investment in fixed assets (net) (-€392,785) and Receivables within one year (-€23,723)
- Receivables within one year +€23,723
up €23,723 (+63.2%), from €37,510 to €61,233
of which Other amounts receivable: +€34,868
- Profit (loss) carried forward +€150,387
up €150,387 (+109.6%), from €137,251 to €287,638
- Debts after one year +€150,000
new in 2025: €150,000
- Trade debts +€21,094
up €21,094 (+6073.8%), from €347 to €21,441
- Tax, wage and social debts -€8,141
down €8,141 (-15.3%), from €53,236 to €45,095
of which Taxes: -€9,641
- Gross operating margin +€9,754
up €9,754 (+5.2%), from €189,329 to €199,083
- Taxes -€6,401
down €6,401 (-16.2%), from €39,609 to €33,208
- Depreciation +€6,054
up €6,054 (+192.0%), from €3,153 to €9,207
- Financial charges +€3,142
up €3,142 (+1379.1%), from €228 to €3,370
- Other operating charges +€2,523
up €2,523 (+651.4%), from €387 to €2,911
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 | €193,835 | €510,433 | +€316,598 | +163.3% |
| Fixed assets | 21/28 | €36,332 | €419,909 | +€383,578 | +1055.8% |
| Tangible fixed assets | 22/27 | €36,332 | €419,684 | +€383,353 | +1055.1% |
| Furniture and vehicles | 24 | €24,472 | €15,264 | -€9,207 | -37.6% |
| Assets under construction and advance payments | 27 | €11,860 | €404,420 | +€392,560 | +3310.0% |
| Financial fixed assets | 28 | - | €225 | +€225 | |
| Current assets | 29/58 | €157,503 | €90,524 | -€66,979 | -42.5% |
| Amounts receivable within one year | 40/41 | €37,510 | €61,233 | +€23,723 | +63.2% |
| Trade receivables | 40 | €37,510 | €26,365 | -€11,145 | -29.7% |
| Other amounts receivable | 41 | - | €34,868 | +€34,868 | |
| Cash at bank and in hand | 54/58 | €119,993 | €29,291 | -€90,702 | -75.6% |
| Total equity and liabilities | 10/49 | €193,835 | €510,433 | +€316,598 | +163.3% |
| Equity | 10/15 | €140,251 | €290,638 | +€150,387 | +107.2% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €137,251 | €287,638 | +€150,387 | +109.6% |
| Amounts payable | 17/49 | €53,584 | €219,795 | +€166,212 | +310.2% |
| Amounts payable after more than one year | 17 | - | €150,000 | +€150,000 | |
| Other amounts payable | 178/9 | - | €150,000 | +€150,000 | |
| Amounts payable within one year | 42/48 | €53,584 | €66,536 | +€12,953 | +24.2% |
| Trade debts | 44 | €347 | €21,441 | +€21,094 | +6073.8% |
| Suppliers | 440/4 | €347 | €21,441 | +€21,094 | +6073.8% |
| Taxes, remuneration and social security | 45 | €53,236 | €45,095 | -€8,141 | -15.3% |
| Taxes | 450/3 | €53,236 | €43,595 | -€9,641 | -18.1% |
| Remuneration and social security | 454/9 | - | €1,500 | +€1,500 | |
| Accrued charges and deferred income | 492/3 | - | €3,259 | +€3,259 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €3,153 | €9,207 | +€6,054 | +192.0% |
| Other operating charges | 640/8 | €387 | €2,911 | +€2,523 | +651.4% |
| Gross operating margin | 9900 | €189,329 | €199,083 | +€9,754 | +5.2% |
| Operating profit (loss) | 9901 | €185,788 | €186,965 | +€1,177 | +0.6% |
| Financial income | 75/76B | €0 | - | -€0 | |
| Recurring financial income | 75 | €0 | - | -€0 | |
| Financial charges | 65/66B | €228 | €3,370 | +€3,142 | +1379.1% |
| Recurring financial charges | 65 | €228 | €3,370 | +€3,142 | +1379.1% |
| Profit (loss) for the period before taxes | 9903 | €185,560 | €183,595 | -€1,966 | -1.1% |
| Income taxes | 67/77 | €39,609 | €33,208 | -€6,401 | -16.2% |
| Profit (loss) for the period | 9904 | €145,951 | €150,387 | +€4,436 | +3.0% |
| Profit (loss) for the period to be appropriated | 9905 | €145,951 | €150,387 | +€4,436 | +3.0% |
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 11 October 2026 via checked.be.