Le12Messidor: 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.
Le12Messidor
Largest movements
- Receivables within one year +€46,806
up €46,806 (+13.9%), from €337,385 to €384,191
of which Trade receivables: +€45,445
- Deferred charges and accrued income -€4,408
down €4,408 (-75.9%), from €5,805 to €1,397
- Other debts +€74,906
up €74,906 (+234%), from €32,017 to €106,923
- Trade debts -€13,259
down €13,259 (-44.1%), from €30,076 to €16,816
- Reserves -€10,182
down €10,182 (-3.7%), from €273,166 to €262,984
- Tax, wage and social debts -€5,047
down €5,047 (-50.8%), from €9,931 to €4,884
- Gross operating margin -€34,801
down €34,801 (-1,378%), from -€2,525 to -€37,326
- Write-downs -€24,794
down €24,794, from €0 to -€24,794
- Taxes -€1,604
down €1,604 (-59.2%), from €2,709 to €1,105
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 | €352,495 | €397,807 | +€45,312 | +12.9% |
| Fixed assets | 21/28 | €8,943 | €12,123 | +€3,180 | +35.6% |
| Tangible fixed assets | 22/27 | €8,943 | €12,123 | +€3,180 | +35.6% |
| Furniture and vehicles | 24 | €8,093 | €11,273 | +€3,180 | +39.3% |
| Other tangible fixed assets | 26 | €850 | €850 | = | 0.0% |
| Current assets | 29/58 | €343,552 | €385,683 | +€42,132 | +12.3% |
| Amounts receivable within one year | 40/41 | €337,385 | €384,191 | +€46,806 | +13.9% |
| Trade receivables | 40 | €93,844 | €139,289 | +€45,445 | +48.4% |
| Other amounts receivable | 41 | €243,541 | €244,901 | +€1,360 | +0.6% |
| Cash at bank and in hand | 54/58 | €362 | €95 | -€266 | -73.6% |
| Deferred charges and accrued income | 490/1 | €5,805 | €1,397 | -€4,408 | -75.9% |
| Total equity and liabilities | 10/49 | €352,495 | €397,807 | +€45,312 | +12.9% |
| Equity | 10/15 | €278,192 | €269,184 | -€9,008 | -3.2% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €273,166 | €262,984 | -€10,182 | -3.7% |
| Distributable reserves | 133 | €273,166 | €262,984 | -€10,182 | -3.7% |
| Profit (loss) carried forward | 14 | -€1,174 | €0 | +€1,174 | |
| Amounts payable | 17/49 | €74,303 | €128,623 | +€54,320 | +73.1% |
| Amounts payable within one year | 42/48 | €72,023 | €128,623 | +€56,600 | +78.6% |
| Trade debts | 44 | €30,076 | €16,816 | -€13,259 | -44.1% |
| Suppliers | 440/4 | €30,076 | €16,816 | -€13,259 | -44.1% |
| Taxes, remuneration and social security | 45 | €9,931 | €4,884 | -€5,047 | -50.8% |
| Taxes | 450/3 | €9,931 | €4,884 | -€5,047 | -50.8% |
| Other amounts payable | 47/48 | €32,017 | €106,923 | +€74,906 | +234% |
| Accrued charges and deferred income | 492/3 | €2,279 | €0 | -€2,279 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €4,274 | €4,019 | -€255 | -6.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €0 | -€24,794 | -€24,794 | |
| Other operating charges | 640/8 | €626 | €643 | +€17 | +2.8% |
| Gross operating margin | 9900 | -€2,525 | -€37,326 | -€34,801 | -1,378% |
| Operating profit (loss) | 9901 | -€7,425 | -€17,193 | -€9,769 | -132% |
| Financial income | 75/76B | €9,817 | €10,063 | +€245 | +2.5% |
| Recurring financial income | 75 | €9,817 | €10,063 | +€245 | +2.5% |
| Financial charges | 65/66B | €857 | €773 | -€85 | -9.9% |
| Recurring financial charges | 65 | €857 | €773 | -€85 | -9.9% |
| Profit (loss) for the period before taxes | 9903 | €1,535 | -€7,903 | -€9,438 | |
| Income taxes | 67/77 | €2,709 | €1,105 | -€1,604 | -59.2% |
| Profit (loss) for the period | 9904 | -€1,174 | -€9,008 | -€7,834 | -667% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,174 | -€9,008 | -€7,834 | -667% |
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 23 October 2026 via checked.be.