LE PRESIDENT: what changed
LE PRESIDENT
Largest movements
- Cash -€77,381
down €77,381 (-50.8%), from €152,180 to €74,800
mainly Contributions, distributions and other (-€90,000) and Other debts (-€7,593)
- Tangible fixed assets -€5,758
down €5,758 (-9.7%), from €59,070 to €53,311
of which Plant, machinery and equipment: -€5,758
- Receivables within one year +€2,919
up €2,919 (+48.2%), from €6,059 to €8,978
of which Other amounts receivable: +€2,919
- Reserves -€72,373
down €72,373 (-29.6%), from €244,697 to €172,324
- Other debts -€7,593
down €7,593 (-83.3%), from €9,111 to €1,519
- Tax, wage and social debts -€4,592
down €4,592 (-31.2%), from €14,716 to €10,124
of which Remuneration and social security: -€3,198
- Trade debts +€3,754
up €3,754 (+147%), from €2,546 to €6,300
- Gross operating margin -€4,954
down €4,954 (-3.2%), from €153,330 to €148,377
- Staff costs -€1,969
down €1,969 (-1.9%), from €106,355 to €104,386
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €289,670 | €208,867 | -€80,803 | -27.9% |
| Fixed assets | 21/28 | €59,070 | €53,311 | -€5,758 | -9.7% |
| Tangible fixed assets | 22/27 | €59,070 | €53,311 | -€5,758 | -9.7% |
| Land and buildings | 22 | €40,861 | €40,861 | = | 0.0% |
| Plant, machinery and equipment | 23 | €18,209 | €12,451 | -€5,758 | -31.6% |
| Current assets | 29/58 | €230,601 | €155,556 | -€75,045 | -32.5% |
| Stocks and contracts in progress | 3 | €11,867 | €13,192 | +€1,325 | +11.2% |
| Stocks | 30/36 | €11,867 | €13,192 | +€1,325 | +11.2% |
| Amounts receivable within one year | 40/41 | €6,059 | €8,978 | +€2,919 | +48.2% |
| Trade receivables | 40 | €0 | - | = | |
| Other amounts receivable | 41 | €6,059 | €8,978 | +€2,919 | +48.2% |
| Current investments | 50/53 | €56,449 | €56,686 | +€237 | +0.4% |
| Cash at bank and in hand | 54/58 | €152,180 | €74,800 | -€77,381 | -50.8% |
| Deferred charges and accrued income | 490/1 | €4,046 | €1,901 | -€2,145 | -53.0% |
| Total equity and liabilities | 10/49 | €289,670 | €208,867 | -€80,803 | -27.9% |
| Equity | 10/15 | €263,297 | €190,924 | -€72,373 | -27.5% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €244,697 | €172,324 | -€72,373 | -29.6% |
| Distributable reserves | 133 | €244,697 | €172,324 | -€72,373 | -29.6% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Amounts payable | 17/49 | €26,373 | €17,943 | -€8,430 | -32.0% |
| Amounts payable within one year | 42/48 | €26,373 | €17,943 | -€8,430 | -32.0% |
| Trade debts | 44 | €2,546 | €6,300 | +€3,754 | +147% |
| Suppliers | 440/4 | €2,546 | €6,300 | +€3,754 | +147% |
| Taxes, remuneration and social security | 45 | €14,716 | €10,124 | -€4,592 | -31.2% |
| Taxes | 450/3 | €3,131 | €1,738 | -€1,394 | -44.5% |
| Remuneration and social security | 454/9 | €11,584 | €8,386 | -€3,198 | -27.6% |
| Other amounts payable | 47/48 | €9,111 | €1,519 | -€7,593 | -83.3% |
| Remuneration, social security and pensions | 62 | €106,355 | €104,386 | -€1,969 | -1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,011 | €6,701 | +€690 | +11.5% |
| Other operating charges | 640/8 | €3,558 | €3,453 | -€105 | -3.0% |
| Gross operating margin | 9900 | €153,330 | €148,377 | -€4,954 | -3.2% |
| Operating profit (loss) | 9901 | €37,406 | €33,836 | -€3,570 | -9.5% |
| Financial income | 75/76B | €367 | €339 | -€28 | -7.6% |
| Recurring financial income | 75 | €367 | €339 | -€28 | -7.6% |
| Financial charges | 65/66B | €5,148 | €5,641 | +€493 | +9.6% |
| Recurring financial charges | 65 | €5,148 | €5,641 | +€493 | +9.6% |
| Profit (loss) for the period before taxes | 9903 | €32,624 | €28,534 | -€4,091 | -12.5% |
| Income taxes | 67/77 | €10,183 | €10,907 | +€724 | +7.1% |
| Profit (loss) for the period | 9904 | €22,441 | €17,627 | -€4,814 | -21.5% |
| Profit (loss) for the period to be appropriated | 9905 | €22,441 | €17,627 | -€4,814 | -21.5% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 6 November 2026 via checked.be.