LE FU: 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 FU
Largest movements
- Receivables within one year +€59,039
up €59,039 (+137.1%), from €43,056 to €102,095
of which Other amounts receivable: +€61,070
- Cash -€15,072
down €15,072 (-47.2%), from €31,904 to €16,832
mainly Receivables within one year (-€59,039) and Trade debts (-€32,965)
- Tangible fixed assets -€6,797
down €6,797 (-17.5%), from €38,795 to €31,998
of which Plant, machinery and equipment: -€3,879
- Profit (loss) carried forward +€105,406
up €105,406 (+88.3%), from -€119,431 to -€14,025
- Trade debts -€32,965
down €32,965 (-27.1%), from €121,802 to €88,837
- Current portion of long-term debt -€25,402
down €25,402 (-78.6%), from €32,302 to €6,900
- Debts after one year -€5,650
down €5,650 (-100.0%), from €5,650 to €0
- Tax, wage and social debts -€5,491
down €5,491 (-13.2%), from €41,670 to €36,179
of which Remuneration and social security: -€3,294
- Gross operating margin +€39,654
up €39,654 (+16.9%), from €234,677 to €274,332
- Depreciation -€9,013
down €9,013 (-43.3%), from €20,831 to €11,818
- Staff costs +€8,354
up €8,354 (+5.8%), from €143,977 to €152,331
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €137,265 | €172,346 | +€35,080 | +25.6% |
| Fixed assets | 21/28 | €39,926 | €32,415 | -€7,512 | -18.8% |
| Intangible fixed assets | 21 | €1,131 | €417 | -€714 | -63.2% |
| Tangible fixed assets | 22/27 | €38,795 | €31,998 | -€6,797 | -17.5% |
| Plant, machinery and equipment | 23 | €27,436 | €23,556 | -€3,879 | -14.1% |
| Furniture and vehicles | 24 | €0 | €0 | = | |
| Other tangible fixed assets | 26 | €11,360 | €8,442 | -€2,918 | -25.7% |
| Current assets | 29/58 | €97,339 | €139,931 | +€42,592 | +43.8% |
| Stocks and contracts in progress | 3 | €22,379 | €21,004 | -€1,375 | -6.1% |
| Stocks | 30/36 | €22,379 | €21,004 | -€1,375 | -6.1% |
| Amounts receivable within one year | 40/41 | €43,056 | €102,095 | +€59,039 | +137.1% |
| Trade receivables | 40 | €11,732 | €9,701 | -€2,031 | -17.3% |
| Other amounts receivable | 41 | €31,324 | €92,394 | +€61,070 | +195.0% |
| Cash at bank and in hand | 54/58 | €31,904 | €16,832 | -€15,072 | -47.2% |
| Deferred charges and accrued income | 490/1 | €0 | - | = | |
| Total equity and liabilities | 10/49 | €137,265 | €172,346 | +€35,080 | +25.6% |
| Equity | 10/15 | -€111,371 | -€5,965 | +€105,406 | +94.6% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Reserves | 13 | €0 | - | = | |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Profit (loss) carried forward | 14 | -€119,431 | -€14,025 | +€105,406 | +88.3% |
| Amounts payable | 17/49 | €248,636 | €178,311 | -€70,325 | -28.3% |
| Amounts payable after more than one year | 17 | €5,650 | €0 | -€5,650 | -100.0% |
| Financial debts | 170/4 | €5,650 | €0 | -€5,650 | -100.0% |
| Amounts payable within one year | 42/48 | €242,986 | €178,311 | -€64,675 | -26.6% |
| Current portion of amounts payable after more than one year | 42 | €32,302 | €6,900 | -€25,402 | -78.6% |
| Trade debts | 44 | €121,802 | €88,837 | -€32,965 | -27.1% |
| Suppliers | 440/4 | €121,802 | €88,837 | -€32,965 | -27.1% |
| Taxes, remuneration and social security | 45 | €41,670 | €36,179 | -€5,491 | -13.2% |
| Taxes | 450/3 | €20,467 | €18,270 | -€2,197 | -10.7% |
| Remuneration and social security | 454/9 | €21,203 | €17,909 | -€3,294 | -15.5% |
| Other amounts payable | 47/48 | €47,212 | €46,395 | -€817 | -1.7% |
| Remuneration, social security and pensions | 62 | €143,977 | €152,331 | +€8,354 | +5.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €20,831 | €11,818 | -€9,013 | -43.3% |
| Other operating charges | 640/8 | €2,209 | €2,779 | +€570 | +25.8% |
| Gross operating margin | 9900 | €234,677 | €274,332 | +€39,654 | +16.9% |
| Operating profit (loss) | 9901 | €67,660 | €107,403 | +€39,743 | +58.7% |
| Financial charges | 65/66B | €1,939 | €1,997 | +€59 | +3.0% |
| Recurring financial charges | 65 | €1,939 | €1,997 | +€59 | +3.0% |
| Profit (loss) for the period before taxes | 9903 | €65,721 | €105,406 | +€39,685 | +60.4% |
| Profit (loss) for the period | 9904 | €65,721 | €105,406 | +€39,685 | +60.4% |
| Profit (loss) for the period to be appropriated | 9905 | €65,721 | €105,406 | +€39,685 | +60.4% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.