LEBRUN BOIS: 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
LEBRUN BOIS
NACE 02.200, Logging
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€182,474
2024 · €85,763+€96,711
Equity
€2.2m
2024 · €2.0m+€182,474
Cash
€265,988
2024 · €437,038-€171,050
Balance sheet total
€3.9m
2024 · €3.6m+€272,721
Largest movements
Assets
- Stocks and contracts +€488,290
up €488,290 (+60.7%), from €804,310 to €1.3m
- Current investments +€200,000
up €200,000 (+19.0%), from €1.1m to €1.3m
- Receivables within one year -€198,457
down €198,457 (-20.3%), from €979,603 to €781,146
of which Trade receivables: -€251,652
- Cash -€171,050
down €171,050 (-39.1%), from €437,038 to €265,988
mainly Stocks and contracts (-€488,290) and Current investments (-€200,000)
Equity and liabilities
- Trade debts +€160,091
up €160,091 (+11.7%), from €1.4m to €1.5m
- Profit (loss) carried forward +€106,313
up €106,313 (+10.2%), from €1.0m to €1.1m
- Reserves +€76,161
up €76,161 (+9.7%), from €784,951 to €861,112
of which Tax-exempt reserves: +€76,161
Income statement
- Gross operating margin +€132,473
up €132,473 (+37.4%), from €354,319 to €486,792
- Taxes +€35,600
up €35,600 (+88.0%), from €40,447 to €76,048
- Depreciation -€18,871
down €18,871 (-27.4%), from €68,785 to €49,914
- Staff costs +€18,047
up €18,047 (+12.6%), from €143,032 to €161,079
- Financial income -€14,560
down €14,560 (-48.5%), from €30,010 to €15,450
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
€85,763
Gross operating margin
+€132,473
Staff costs
-€18,047
Depreciation
+€18,871
Other operating charges
+€967
Financial income
-€14,560
Financial charges
+€3,415
Taxes
-€35,600
Deferred taxes and other
+€9,193
Result 2025
€182,474
raises the resultlowers the resultnot broken down further in the accounts
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
+€85,793
Investment
-€213,047
Financing
-€43,796
Cash 2024
€437,038
From operations (derived)
+€85,793
Net result for the year
+€182,474
Depreciation
+€49,914
Stocks and contracts
-€488,290
Receivables within one year
+€198,457
Deferred charges and accrued income
+€9,194
Provisions
-€9,696
Trade debts
+€160,091
Tax, wage and social debts
-€10,168
Other debts
-€573
Accrued charges and deferred income
-€5,609
Investment (derived)
-€213,047
Investment in fixed assets (net)
-€13,047
Current investments
-€200,000
Financing
-€43,796
Debts after one year
-€27,911
Current portion of long-term debt
-€15,885
Cash 2025
€265,988
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,626,035 | €3,898,756 | +€272,721 | +7.5% |
| Fixed assets | 21/28 | €316,582 | €279,715 | -€36,868 | -11.6% |
| Intangible fixed assets | 21 | €826 | - | -€826 | |
| Tangible fixed assets | 22/27 | €312,054 | €276,013 | -€36,041 | -11.5% |
| Land and buildings | 22 | €223,384 | €219,605 | -€3,779 | -1.7% |
| Plant, machinery and equipment | 23 | €8,837 | €16,571 | +€7,733 | +87.5% |
| Furniture and vehicles | 24 | €79,833 | €39,837 | -€39,996 | -50.1% |
| Financial fixed assets | 28 | €3,702 | €3,702 | = | 0.0% |
| Current assets | 29/58 | €3,309,452 | €3,619,041 | +€309,589 | +9.4% |
| Amounts receivable after more than one year | 29 | €20,000 | €20,000 | = | 0.0% |
| Other amounts receivable | 291 | €20,000 | €20,000 | = | 0.0% |
| Stocks and contracts in progress | 3 | €804,310 | €1,292,600 | +€488,290 | +60.7% |
| Stocks | 30/36 | €804,310 | €1,292,600 | +€488,290 | +60.7% |
| Amounts receivable within one year | 40/41 | €979,603 | €781,146 | -€198,457 | -20.3% |
| Trade receivables | 40 | €866,399 | €614,747 | -€251,652 | -29.0% |
| Other amounts receivable | 41 | €113,204 | €166,399 | +€53,195 | +47.0% |
| Current investments | 50/53 | €1,050,000 | €1,250,000 | +€200,000 | +19.0% |
| Cash at bank and in hand | 54/58 | €437,038 | €265,988 | -€171,050 | -39.1% |
| Deferred charges and accrued income | 490/1 | €18,501 | €9,307 | -€9,194 | -49.7% |
| Total equity and liabilities | 10/49 | €3,626,035 | €3,898,756 | +€272,721 | +7.5% |
| Equity | 10/15 | €2,023,342 | €2,205,816 | +€182,474 | +9.0% |
| Contributions | 10/11 | €200,000 | €200,000 | = | 0.0% |
| Capital | 10 | €200,000 | €200,000 | = | 0.0% |
| Issued capital | 100 | €200,000 | €200,000 | = | 0.0% |
| Reserves | 13 | €784,951 | €861,112 | +€76,161 | +9.7% |
| Non-distributable reserves | 130/1 | €320,000 | €320,000 | = | 0.0% |
| Legal reserve | 130 | €20,000 | €20,000 | = | 0.0% |
| Own shares acquired | 1312 | €300,000 | €300,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €349,839 | €426,000 | +€76,161 | +21.8% |
| Distributable reserves | 133 | €115,112 | €115,112 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,038,391 | €1,144,704 | +€106,313 | +10.2% |
| Provisions and deferred taxes | 16 | €9,696 | - | -€9,696 | |
| Deferred taxes | 168 | €9,696 | - | -€9,696 | |
| Amounts payable | 17/49 | €1,592,997 | €1,692,940 | +€99,944 | +6.3% |
| Amounts payable after more than one year | 17 | €114,217 | €86,305 | -€27,911 | -24.4% |
| Financial debts | 170/4 | €114,217 | €86,305 | -€27,911 | -24.4% |
| Amounts payable within one year | 42/48 | €1,473,171 | €1,606,635 | +€133,464 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €42,015 | €26,130 | -€15,885 | -37.8% |
| Trade debts | 44 | €1,373,766 | €1,533,857 | +€160,091 | +11.7% |
| Suppliers | 440/4 | €1,373,766 | €1,533,857 | +€160,091 | +11.7% |
| Taxes, remuneration and social security | 45 | €56,369 | €46,201 | -€10,168 | -18.0% |
| Taxes | 450/3 | €32,510 | €26,699 | -€5,810 | -17.9% |
| Remuneration and social security | 454/9 | €23,859 | €19,501 | -€4,358 | -18.3% |
| Other amounts payable | 47/48 | €1,020 | €447 | -€573 | -56.2% |
| Accrued charges and deferred income | 492/3 | €5,609 | - | -€5,609 | |
| Remuneration, social security and pensions | 62 | €143,032 | €161,079 | +€18,047 | +12.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €68,785 | €49,914 | -€18,871 | -27.4% |
| Other operating charges | 640/8 | €2,115 | €1,148 | -€967 | -45.7% |
| Gross operating margin | 9900 | €354,319 | €486,792 | +€132,473 | +37.4% |
| Operating profit (loss) | 9901 | €140,387 | €274,651 | +€134,264 | +95.6% |
| Financial income | 75/76B | €30,010 | €15,450 | -€14,560 | -48.5% |
| Recurring financial income | 75 | €30,010 | €15,450 | -€14,560 | -48.5% |
| Financial charges | 65/66B | €44,690 | €41,275 | -€3,415 | -7.6% |
| Recurring financial charges | 65 | €44,489 | €41,274 | -€3,216 | -7.2% |
| Non-recurring financial charges | 66B | €201 | €2 | -€199 | -99.2% |
| Profit (loss) for the period before taxes | 9903 | €125,706 | €248,826 | +€123,119 | +97.9% |
| Transfer from deferred taxes | 780 | €504 | €9,696 | +€9,193 | +1,824% |
| Income taxes | 67/77 | €40,447 | €76,048 | +€35,600 | +88.0% |
| Profit (loss) for the period | 9904 | €85,763 | €182,474 | +€96,711 | +113% |
| Transfer from tax-exempt reserves | 789 | €1,512 | €29,089 | +€27,578 | +1,824% |
| Transfer to tax-exempt reserves | 689 | - | €105,250 | +€105,250 | |
| Profit (loss) for the period to be appropriated | 9905 | €87,275 | €106,313 | +€19,039 | +21.8% |
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 30 October 2026 via checked.be.