LE.CON: 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.CON
Largest movements
- Tangible fixed assets -€207,596
down €207,596 (-85.9%), from €241,684 to €34,088
of which Land and buildings: -€197,947
- Financial fixed assets +€100,000
up €100,000 (+40,000%), from €250 to €100,250
- Receivables within one year +€83,542
up €83,542 (+42.3%), from €197,390 to €280,932
of which Other amounts receivable: +€124,140
- Cash +€50,938
up €50,938, from €0 to €50,938
mainly Investment in fixed assets (net) (+€97,080) and Net result for the year (+€34,695)
- Reserves +€33,862
up €33,862 (+25.7%), from €131,874 to €165,736
- Short-term financial debts -€32,114
down €32,114 (-72.8%), from €44,129 to €12,014
of which Credit institutions: -€30,088
- Debts after one year -€30,627
down €30,627 (-12.3%), from €249,171 to €218,543
- Current portion of long-term debt +€27,436
up €27,436 (+76.4%), from €35,892 to €63,328
- Other debts +€16,641
up €16,641 (+39.8%), from €41,850 to €58,491
- Gross operating margin -€37,316
down €37,316 (-30.9%), from €120,819 to €83,504
- Financial charges +€11,704
up €11,704 (+88.1%), from €13,290 to €24,994
of which Financial charges: +€11,704
- Taxes -€8,699
down €8,699 (-44.2%), from €19,691 to €10,992
- Depreciation -€1,944
down €1,944 (-15.6%), from €12,460 to €10,516
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.
Derived cash bridge
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 | €515,512 | €542,059 | +€26,547 | +5.1% |
| Fixed assets | 21/28 | €241,934 | €134,338 | -€107,596 | -44.5% |
| Tangible fixed assets | 22/27 | €241,684 | €34,088 | -€207,596 | -85.9% |
| Land and buildings | 22 | €197,947 | €0 | -€197,947 | -100% |
| Furniture and vehicles | 24 | €43,737 | €34,088 | -€9,649 | -22.1% |
| Financial fixed assets | 28 | €250 | €100,250 | +€100,000 | +40,000% |
| Current assets | 29/58 | €273,578 | €407,721 | +€134,143 | +49.0% |
| Amounts receivable within one year | 40/41 | €197,390 | €280,932 | +€83,542 | +42.3% |
| Trade receivables | 40 | €75,890 | €35,292 | -€40,598 | -53.5% |
| Other amounts receivable | 41 | €121,500 | €245,640 | +€124,140 | +102% |
| Current investments | 50/53 | €75,000 | €75,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €0 | €50,938 | +€50,938 | |
| Deferred charges and accrued income | 490/1 | €1,188 | €851 | -€337 | -28.4% |
| Total equity and liabilities | 10/49 | €515,512 | €542,059 | +€26,547 | +5.1% |
| Equity | 10/15 | €134,874 | €168,736 | +€33,862 | +25.1% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €131,874 | €165,736 | +€33,862 | +25.7% |
| Distributable reserves | 133 | €131,874 | €165,736 | +€33,862 | +25.7% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €380,638 | €373,322 | -€7,316 | -1.9% |
| Amounts payable after more than one year | 17 | €249,171 | €218,543 | -€30,627 | -12.3% |
| Financial debts | 170/4 | €249,171 | €218,543 | -€30,627 | -12.3% |
| Amounts payable within one year | 42/48 | €131,467 | €154,779 | +€23,312 | +17.7% |
| Current portion of amounts payable after more than one year | 42 | €35,892 | €63,328 | +€27,436 | +76.4% |
| Financial debts | 43 | €44,129 | €12,014 | -€32,114 | -72.8% |
| Credit institutions | 430/8 | €42,088 | €12,000 | -€30,088 | -71.5% |
| Other loans | 439 | €2,041 | €14 | -€2,026 | -99.3% |
| Trade debts | 44 | €980 | €928 | -€52 | -5.3% |
| Suppliers | 440/4 | €980 | €928 | -€52 | -5.3% |
| Taxes, remuneration and social security | 45 | €8,616 | €20,017 | +€11,401 | +132% |
| Taxes | 450/3 | €8,616 | €20,017 | +€11,401 | +132% |
| Other amounts payable | 47/48 | €41,850 | €58,491 | +€16,641 | +39.8% |
| Non-recurring operating income | 76A | €625 | €24,944 | +€24,319 | +3,891% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,460 | €10,516 | -€1,944 | -15.6% |
| Other operating charges | 640/8 | €1,505 | €2,307 | +€802 | +53.3% |
| Non-recurring operating charges | 66A | €2,625 | €0 | -€2,625 | -100% |
| Gross operating margin | 9900 | €120,819 | €83,504 | -€37,316 | -30.9% |
| Operating profit (loss) | 9901 | €104,230 | €70,680 | -€33,550 | -32.2% |
| Financial income | 75/76B | €8 | €0 | -€8 | -96.3% |
| Recurring financial income | 75 | €8 | €0 | -€8 | -96.3% |
| Financial charges | 65/66B | €13,290 | €24,994 | +€11,704 | +88.1% |
| Recurring financial charges | 65 | €13,290 | €24,994 | +€11,704 | +88.1% |
| Non-recurring financial charges | 66B | €0 | - | = | |
| Profit (loss) for the period before taxes | 9903 | €90,948 | €45,687 | -€45,261 | -49.8% |
| Income taxes | 67/77 | €19,691 | €10,992 | -€8,699 | -44.2% |
| Profit (loss) for the period | 9904 | €71,257 | €34,695 | -€36,562 | -51.3% |
| Profit (loss) for the period to be appropriated | 9905 | €71,257 | €34,695 | -€36,562 | -51.3% |
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 15 October 2026 via checked.be.