Lebrun: 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.
Lebrun
Largest movements
- Tangible fixed assets -€19,717
down €19,717 (-3.0%), from €655,877 to €636,160
- Cash -€7,270
down €7,270 (-16.9%), from €43,066 to €35,796
mainly Net result for the year (-€30,839) and Investment in fixed assets (net) (-€7,916)
- Profit (loss) carried forward -€30,839
down €30,839 (-158.0%), from -€19,515 to -€50,354
- Gross operating margin -€32,825
down €32,825 (-79.1%), from €41,519 to €8,694
- Financial charges -€2,153
down €2,153 (-28.9%), from €7,451 to €5,298
- Other operating charges -€1,886
down €1,886 (-22.2%), from €8,499 to €6,613
- Depreciation +€706
up €706 (+2.6%), from €26,927 to €27,633
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 | €698,948 | €671,961 | -€26,987 | -3.9% |
| Fixed assets | 21/28 | €655,882 | €636,165 | -€19,717 | -3.0% |
| Tangible fixed assets | 22/27 | €655,877 | €636,160 | -€19,717 | -3.0% |
| Land and buildings | 22 | €655,877 | €636,160 | -€19,717 | -3.0% |
| Financial fixed assets | 28 | €5 | €5 | = | 0.0% |
| Current assets | 29/58 | €43,066 | €35,796 | -€7,270 | -16.9% |
| Cash at bank and in hand | 54/58 | €43,066 | €35,796 | -€7,270 | -16.9% |
| Total equity and liabilities | 10/49 | €698,948 | €671,961 | -€26,987 | -3.9% |
| Equity | 10/15 | €587,917 | €557,078 | -€30,839 | -5.2% |
| Contributions | 10/11 | €86,800 | €86,800 | = | 0.0% |
| Capital | 10 | €86,800 | €86,800 | = | 0.0% |
| Issued capital | 100 | €86,800 | €86,800 | = | 0.0% |
| Reserves | 13 | €520,632 | €520,632 | = | 0.0% |
| Non-distributable reserves | 130/1 | €8,680 | €8,680 | = | 0.0% |
| Legal reserve | 130 | €8,680 | €8,680 | = | 0.0% |
| Distributable reserves | 133 | €511,952 | €511,952 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€19,515 | -€50,354 | -€30,839 | -158.0% |
| Amounts payable | 17/49 | €111,031 | €114,883 | +€3,852 | +3.5% |
| Amounts payable within one year | 42/48 | €111,031 | €114,883 | +€3,852 | +3.5% |
| Financial debts | 43 | €110,060 | €112,757 | +€2,696 | +2.4% |
| Other loans | 439 | €110,060 | €112,757 | +€2,696 | +2.4% |
| Taxes, remuneration and social security | 45 | €970 | €2,126 | +€1,156 | +119.1% |
| Taxes | 450/3 | €970 | €2,126 | +€1,156 | +119.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,927 | €27,633 | +€706 | +2.6% |
| Other operating charges | 640/8 | €8,499 | €6,613 | -€1,886 | -22.2% |
| Gross operating margin | 9900 | €41,519 | €8,694 | -€32,825 | -79.1% |
| Operating profit (loss) | 9901 | €6,093 | -€25,552 | -€31,645 | |
| Financial income | 75/76B | - | €11 | +€11 | |
| Recurring financial income | 75 | - | €11 | +€11 | |
| Financial charges | 65/66B | €7,451 | €5,298 | -€2,153 | -28.9% |
| Recurring financial charges | 65 | €7,451 | €5,298 | -€2,153 | -28.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,358 | -€30,839 | -€29,481 | -2171.4% |
| Profit (loss) for the period | 9904 | -€1,358 | -€30,839 | -€29,481 | -2171.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,358 | -€30,839 | -€29,481 | -2171.4% |
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 6 October 2026 via checked.be.