Lebon: 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.
Lebon
Largest movements
- Tangible fixed assets +€665,015
up €665,015 (+14.9%), from €4.5m to €5.1m
of which Land and buildings: +€709,085
- Receivables within one year +€171,161
up €171,161 (+146%), from €117,567 to €288,728
of which Other amounts receivable: +€284,496
- Cash +€94,423
up €94,423 (+1,721%), from €5,486 to €99,909
mainly Short-term financial debts (+€1.3m) and Depreciation (+€162,303)
- Short-term financial debts +€1.3m
new in 2025: €1.3m
- Profit (loss) carried forward -€170,497
down €170,497 (-35.5%), from -€480,908 to -€651,404
- Trade debts -€141,195
down €141,195 (-74.2%), from €190,389 to €49,194
- Financial charges +€35,065
up €35,065 (+347%), from €10,115 to €45,180
- Depreciation +€17,649
up €17,649 (+12.2%), from €144,654 to €162,303
- Gross operating margin +€9,831
up €9,831 (+30.4%), from €32,367 to €42,199
- Other operating charges +€8,671
up €8,671 (+317%), from €2,734 to €11,405
- Financial income +€4,823
up €4,823 (+243%), from €1,981 to €6,804
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 | €4,596,327 | €5,536,289 | +€939,963 | +20.5% |
| Fixed assets | 21/28 | €4,463,725 | €5,128,739 | +€665,015 | +14.9% |
| Tangible fixed assets | 22/27 | €4,463,725 | €5,128,739 | +€665,015 | +14.9% |
| Land and buildings | 22 | €4,311,762 | €5,020,848 | +€709,085 | +16.4% |
| Plant, machinery and equipment | 23 | €12,322 | €0 | -€12,322 | -100% |
| Furniture and vehicles | 24 | €137,451 | €97,549 | -€39,902 | -29.0% |
| Other tangible fixed assets | 26 | €2,189 | €10,342 | +€8,153 | +372% |
| Financial fixed assets | 28 | - | €0 | = | |
| Current assets | 29/58 | €132,602 | €407,550 | +€274,948 | +207% |
| Amounts receivable after more than one year | 29 | €759 | - | -€759 | |
| Other amounts receivable | 291 | €759 | - | -€759 | |
| Amounts receivable within one year | 40/41 | €117,567 | €288,728 | +€171,161 | +146% |
| Trade receivables | 40 | €117,567 | €4,232 | -€113,335 | -96.4% |
| Other amounts receivable | 41 | - | €284,496 | +€284,496 | |
| Cash at bank and in hand | 54/58 | €5,486 | €99,909 | +€94,423 | +1,721% |
| Deferred charges and accrued income | 490/1 | €8,790 | €18,913 | +€10,122 | +115% |
| Total equity and liabilities | 10/49 | €4,596,327 | €5,536,289 | +€939,963 | +20.5% |
| Equity | 10/15 | €1,862,092 | €1,691,596 | -€170,497 | -9.2% |
| Contributions | 10/11 | €2,343,000 | €2,343,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€480,908 | -€651,404 | -€170,497 | -35.5% |
| Amounts payable | 17/49 | €2,734,235 | €3,844,694 | +€1.1m | +40.6% |
| Amounts payable after more than one year | 17 | €786,132 | €758,632 | -€27,500 | -3.5% |
| Financial debts | 170/4 | €456,042 | €428,541 | -€27,500 | -6.0% |
| Other amounts payable | 178/9 | €330,091 | €330,091 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,948,102 | €3,086,062 | +€1.1m | +58.4% |
| Current portion of amounts payable after more than one year | 42 | €27,500 | €27,500 | = | 0.0% |
| Financial debts | 43 | - | €1,278,645 | +€1.3m | |
| Credit institutions | 430/8 | - | €1,278,645 | +€1.3m | |
| Trade debts | 44 | €190,389 | €49,194 | -€141,195 | -74.2% |
| Suppliers | 440/4 | €190,389 | €49,194 | -€141,195 | -74.2% |
| Taxes, remuneration and social security | 45 | €29,949 | €25,195 | -€4,753 | -15.9% |
| Taxes | 450/3 | €29,949 | €25,195 | -€4,753 | -15.9% |
| Other amounts payable | 47/48 | €1,700,264 | €1,705,527 | +€5,263 | +0.3% |
| Non-recurring operating income | 76A | - | €500 | +€500 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €144,654 | €162,303 | +€17,649 | +12.2% |
| Other operating charges | 640/8 | €2,734 | €11,405 | +€8,671 | +317% |
| Gross operating margin | 9900 | €32,367 | €42,199 | +€9,831 | +30.4% |
| Operating profit (loss) | 9901 | -€115,021 | -€131,510 | -€16,489 | -14.3% |
| Financial income | 75/76B | €1,981 | €6,804 | +€4,823 | +243% |
| Recurring financial income | 75 | €1,981 | €6,804 | +€4,823 | +243% |
| Financial charges | 65/66B | €10,115 | €45,180 | +€35,065 | +347% |
| Recurring financial charges | 65 | €10,115 | €45,180 | +€35,065 | +347% |
| Profit (loss) for the period before taxes | 9903 | -€123,155 | -€169,886 | -€46,731 | -37.9% |
| Income taxes | 67/77 | €903 | €611 | -€292 | -32.4% |
| Profit (loss) for the period | 9904 | -€124,057 | -€170,497 | -€46,439 | -37.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€124,057 | -€170,497 | -€46,439 | -37.4% |
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.