LE STRUGEON: 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.
What changed
LE STRUGEON
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€35,101
2024 · €21,349+€13,752
Equity
€2.5m
2024 · €2.5m+€35,101
Cash
€153,533
2024 · €115,346+€38,187
Balance sheet total
€3.5m
2024 · €3.6m-€103,218
Largest movements
Assets
- Tangible fixed assets -€144,879
down €144,879 (-4.3%), from €3.4m to €3.2m
of which Land and buildings: -€205,844
- Cash +€38,187
up €38,187 (+33.1%), from €115,346 to €153,533
mainly Depreciation (+€210,850) and Net result for the year (+€35,101)
Equity and liabilities
- Debts after one year -€163,355
down €163,355 (-40.3%), from €405,682 to €242,327
Income statement
- Financial charges -€16,201
down €16,201 (-24.1%), from €67,127 to €50,926
- Financial income -€6,170
down €6,170 (-100.0%), from €6,171 to €1
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.
Result 2024
€21,349
Gross operating margin
+€2,843
Depreciation
+€2,785
Other operating charges
-€1,834
Financial income
-€6,170
Financial charges
+€16,201
Taxes
-€73
Result 2025
€35,101
raises the resultlowers the result
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.
From operations
+€256,248
Investment
-€65,971
Financing
-€152,090
Cash 2024
€115,346
From operations (derived)
+€256,248
Net result for the year
+€35,101
Depreciation
+€210,850
Receivables within one year
+€1,232
Deferred charges and accrued income
-€4,706
Trade debts
+€11,073
Tax, wage and social debts
-€12,395
Other debts
+€15,348
Accrued charges and deferred income
-€255
Investment (derived)
-€65,971
Investment in fixed assets (net)
-€65,971
Financing
-€152,090
Debts after one year
-€163,355
Current portion of long-term debt
+€11,266
Cash 2025
€153,533
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,565,551 | €3,462,332 | -€103,218 | -2.9% |
| Fixed assets | 21/28 | €3,393,943 | €3,249,064 | -€144,879 | -4.3% |
| Tangible fixed assets | 22/27 | €3,393,943 | €3,249,064 | -€144,879 | -4.3% |
| Land and buildings | 22 | €3,388,244 | €3,182,400 | -€205,844 | -6.1% |
| Plant, machinery and equipment | 23 | - | €50,808 | +€50,808 | |
| Furniture and vehicles | 24 | €5,700 | €15,857 | +€10,157 | +178% |
| Current assets | 29/58 | €171,607 | €213,268 | +€41,661 | +24.3% |
| Stocks and contracts in progress | 3 | €46,658 | €46,658 | = | 0.0% |
| Stocks | 30/36 | €46,658 | €46,658 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €1,232 | €0 | -€1,232 | -100% |
| Trade receivables | 40 | €1,232 | €0 | -€1,232 | -100% |
| Other amounts receivable | 41 | €0 | - | = | |
| Cash at bank and in hand | 54/58 | €115,346 | €153,533 | +€38,187 | +33.1% |
| Deferred charges and accrued income | 490/1 | €8,372 | €13,077 | +€4,706 | +56.2% |
| Total equity and liabilities | 10/49 | €3,565,551 | €3,462,332 | -€103,218 | -2.9% |
| Equity | 10/15 | €2,491,088 | €2,526,188 | +€35,101 | +1.4% |
| Contributions | 10/11 | €2,550,000 | €2,550,000 | = | 0.0% |
| Capital | 10 | €2,550,000 | €2,550,000 | = | 0.0% |
| Issued capital | 100 | €2,550,000 | €2,550,000 | = | 0.0% |
| Contributions outside capital | 11 | €0 | - | = | |
| Other | 1109/19 | €0 | - | = | |
| Reserves | 13 | €3,190 | €3,190 | = | 0.0% |
| Non-distributable reserves | 130/1 | €3,190 | €3,190 | = | 0.0% |
| Reserves not available under the articles | 1311 | €3,190 | €3,190 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€62,102 | -€27,002 | +€35,101 | +56.5% |
| Amounts payable | 17/49 | €1,074,463 | €936,144 | -€138,319 | -12.9% |
| Amounts payable after more than one year | 17 | €405,682 | €242,327 | -€163,355 | -40.3% |
| Financial debts | 170/4 | €405,682 | €242,327 | -€163,355 | -40.3% |
| Amounts payable within one year | 42/48 | €666,616 | €691,907 | +€25,292 | +3.8% |
| Current portion of amounts payable after more than one year | 42 | €180,605 | €191,870 | +€11,266 | +6.2% |
| Trade debts | 44 | €5,787 | €16,860 | +€11,073 | +191% |
| Suppliers | 440/4 | €5,787 | €16,860 | +€11,073 | +191% |
| Taxes, remuneration and social security | 45 | €22,016 | €9,621 | -€12,395 | -56.3% |
| Taxes | 450/3 | €22,016 | €9,621 | -€12,395 | -56.3% |
| Other amounts payable | 47/48 | €458,207 | €473,555 | +€15,348 | +3.3% |
| Accrued charges and deferred income | 492/3 | €2,165 | €1,910 | -€255 | -11.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €213,635 | €210,850 | -€2,785 | -1.3% |
| Other operating charges | 640/8 | €47,335 | €49,169 | +€1,834 | +3.9% |
| Gross operating margin | 9900 | €343,274 | €346,118 | +€2,843 | +0.8% |
| Operating profit (loss) | 9901 | €82,304 | €86,099 | +€3,795 | +4.6% |
| Financial income | 75/76B | €6,171 | €1 | -€6,170 | -100.0% |
| Recurring financial income | 75 | €6,171 | €1 | -€6,170 | -100.0% |
| Financial charges | 65/66B | €67,127 | €50,926 | -€16,201 | -24.1% |
| Recurring financial charges | 65 | €67,127 | €50,926 | -€16,201 | -24.1% |
| Profit (loss) for the period before taxes | 9903 | €21,349 | €35,174 | +€13,825 | +64.8% |
| Income taxes | 67/77 | €0 | €73 | +€73 | |
| Profit (loss) for the period | 9904 | €21,349 | €35,101 | +€13,752 | +64.4% |
| Profit (loss) for the period to be appropriated | 9905 | €21,349 | €35,101 | +€13,752 | +64.4% |
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.