LEARNENCE: 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.
LEARNENCE
Largest movements
- Cash -€72,980
down €72,980 (-24.6%), from €296,495 to €223,514
mainly Investment in fixed assets (net) (-€85,644) and Net result for the year (-€21,335)
- Tangible fixed assets +€45,247
up €45,247 (+72.4%), from €62,453 to €107,700
of which Furniture and vehicles: +€43,232
- Receivables within one year +€20,578
up €20,578 (+12.3%), from €167,501 to €188,079
of which Other amounts receivable: +€25,478
- Deferred charges and accrued income -€5,553
down €5,553 (-48.9%), from €11,358 to €5,805
- Profit (loss) carried forward -€21,335
down €21,335 (-31.1%), from €68,513 to €47,177
- Trade debts +€15,247
up €15,247 (+85.6%), from €17,815 to €33,062
- Gross operating margin -€30,960
down €30,960 (-9.3%), from €332,515 to €301,555
- Provisions +€28,199
no longer reported in 2025 (was -€28,199)
- Staff costs -€26,878
down €26,878 (-8.7%), from €307,662 to €280,784
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.
Cash bridge derived
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 | €539,377 | €527,712 | -€11,665 | -2.2% |
| Fixed assets | 21/28 | €64,023 | €110,313 | +€46,290 | +72.3% |
| Intangible fixed assets | 21 | - | €1,043 | +€1,043 | |
| Tangible fixed assets | 22/27 | €62,453 | €107,700 | +€45,247 | +72.4% |
| Furniture and vehicles | 24 | €59,209 | €102,441 | +€43,232 | +73.0% |
| Other tangible fixed assets | 26 | €3,244 | €5,259 | +€2,015 | +62.1% |
| Financial fixed assets | 28 | €1,570 | €1,570 | = | 0.0% |
| Current assets | 29/58 | €475,354 | €417,398 | -€57,955 | -12.2% |
| Amounts receivable within one year | 40/41 | €167,501 | €188,079 | +€20,578 | +12.3% |
| Trade receivables | 40 | €154,389 | €149,488 | -€4,900 | -3.2% |
| Other amounts receivable | 41 | €13,112 | €38,590 | +€25,478 | +194.3% |
| Cash at bank and in hand | 54/58 | €296,495 | €223,514 | -€72,980 | -24.6% |
| Deferred charges and accrued income | 490/1 | €11,358 | €5,805 | -€5,553 | -48.9% |
| Total equity and liabilities | 10/49 | €539,377 | €527,712 | -€11,665 | -2.2% |
| Equity | 10/15 | €462,483 | €441,147 | -€21,335 | -4.6% |
| Contributions | 10/11 | €8,970 | €8,970 | = | 0.0% |
| Reserves | 13 | €385,000 | €385,000 | = | 0.0% |
| Distributable reserves | 133 | €385,000 | €385,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €68,513 | €47,177 | -€21,335 | -31.1% |
| Amounts payable | 17/49 | €76,894 | €86,564 | +€9,670 | +12.6% |
| Amounts payable within one year | 42/48 | €76,894 | €86,564 | +€9,670 | +12.6% |
| Financial debts | 43 | €4,490 | €558 | -€3,932 | -87.6% |
| Credit institutions | 430/8 | €4,490 | €558 | -€3,932 | -87.6% |
| Trade debts | 44 | €17,815 | €33,062 | +€15,247 | +85.6% |
| Suppliers | 440/4 | €17,815 | €33,062 | +€15,247 | +85.6% |
| Taxes, remuneration and social security | 45 | €54,589 | €52,944 | -€1,645 | -3.0% |
| Taxes | 450/3 | €21,539 | €15,955 | -€5,584 | -25.9% |
| Remuneration and social security | 454/9 | €33,050 | €36,989 | +€3,939 | +11.9% |
| Remuneration, social security and pensions | 62 | €307,662 | €280,784 | -€26,878 | -8.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €39,935 | €39,354 | -€581 | -1.5% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€28,199 | - | +€28,199 | |
| Other operating charges | 640/8 | €2,016 | €2,507 | +€491 | +24.3% |
| Non-recurring operating charges | 66A | - | €694 | +€694 | |
| Gross operating margin | 9900 | €332,515 | €301,555 | -€30,960 | -9.3% |
| Operating profit (loss) | 9901 | €11,101 | -€21,784 | -€32,885 | |
| Financial income | 75/76B | €2,765 | €3,477 | +€712 | +25.8% |
| Recurring financial income | 75 | €2,765 | €3,477 | +€712 | +25.8% |
| Financial charges | 65/66B | €1,436 | €2,297 | +€861 | +59.9% |
| Recurring financial charges | 65 | €1,436 | €2,297 | +€861 | +59.9% |
| Profit (loss) for the period before taxes | 9903 | €12,430 | -€20,604 | -€33,033 | |
| Income taxes | 67/77 | €723 | €732 | +€9 | +1.2% |
| Profit (loss) for the period | 9904 | €11,707 | -€21,335 | -€33,042 | |
| Profit (loss) for the period to be appropriated | 9905 | €11,707 | -€21,335 | -€33,042 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 30 September 2026 via checked.be.