LECIRE: 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
LECIRE
NACE 10.712, Artisanal bread and fresh pastry making
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€47,752
2024 · €71,136-€23,384
Equity
€46,332
2024 · €47,655-€1,323
Cash
€6,762
2024 · €29,586-€22,824
Balance sheet total
€1.4m
2024 · €1.4m-€30,755
Largest movements
Assets
- Cash -€22,824
down €22,824 (-77.1%), from €29,586 to €6,762
mainly Investment in fixed assets (net) (-€69,834) and Trade debts (-€69,361)
Equity and liabilities
- Trade debts -€69,361
down €69,361 (-57.7%), from €120,281 to €50,920
- Other debts +€45,400
up €45,400 (+1,746%), from €2,600 to €48,000
- Current portion of long-term debt +€16,703
up €16,703 (+33.4%), from €50,008 to €66,710
Income statement
- Gross operating margin -€99,211
down €99,211 (-18.4%), from €538,209 to €438,998
- Depreciation -€45,148
down €45,148 (-38.6%), from €116,845 to €71,697
- Financial income +€30,732
up €30,732 (+1,469%), from €2,092 to €32,825
- Staff costs -€6,791
down €6,791 (-2.5%), from €271,973 to €265,182
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
€71,136
Gross operating margin
-€99,211
Staff costs
+€6,791
Depreciation
+€45,148
Other operating charges
-€4,323
Financial income
+€30,732
Financial charges
-€2,561
Taxes
+€40
Result 2025
€47,752
raises the resultlowers the result
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
+€79,799
Investment
-€69,834
Financing
-€32,788
Cash 2024
€29,586
From operations (derived)
+€79,799
Net result for the year
+€47,752
Depreciation
+€71,697
Stocks and contracts
+€2,597
Receivables within one year
-€4,807
Deferred charges and accrued income
+€8,279
Provisions
-€554
Trade debts
-€69,361
Tax, wage and social debts
-€11,294
Other debts
+€45,400
Accrued charges and deferred income
-€9,910
Investment (derived)
-€69,834
Investment in fixed assets (net)
-€69,834
Financing
-€32,788
Debts after one year
-€7,057
Current portion of long-term debt
+€16,703
Short-term financial debts
+€6,641
Contributions, distributions and other
-€49,075
Cash 2025
€6,762
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,440,982 | €1,410,227 | -€30,755 | -2.1% |
| Fixed assets | 21/28 | €1,241,287 | €1,239,424 | -€1,863 | -0.2% |
| Tangible fixed assets | 22/27 | €1,230,997 | €1,229,134 | -€1,863 | -0.2% |
| Land and buildings | 22 | €1,127,508 | €1,135,292 | +€7,784 | +0.7% |
| Plant, machinery and equipment | 23 | €20,806 | €29,436 | +€8,630 | +41.5% |
| Furniture and vehicles | 24 | €61,958 | €46,147 | -€15,811 | -25.5% |
| Other tangible fixed assets | 26 | €20,725 | €18,259 | -€2,465 | -11.9% |
| Financial fixed assets | 28 | €10,290 | €10,290 | = | 0.0% |
| Current assets | 29/58 | €199,696 | €170,803 | -€28,892 | -14.5% |
| Stocks and contracts in progress | 3 | €4,108 | €1,511 | -€2,597 | -63.2% |
| Stocks | 30/36 | €4,108 | €1,511 | -€2,597 | -63.2% |
| Amounts receivable within one year | 40/41 | €157,333 | €162,140 | +€4,807 | +3.1% |
| Trade receivables | 40 | €25,278 | €14,980 | -€10,298 | -40.7% |
| Other amounts receivable | 41 | €132,054 | €147,159 | +€15,105 | +11.4% |
| Cash at bank and in hand | 54/58 | €29,586 | €6,762 | -€22,824 | -77.1% |
| Deferred charges and accrued income | 490/1 | €8,669 | €390 | -€8,279 | -95.5% |
| Total equity and liabilities | 10/49 | €1,440,982 | €1,410,227 | -€30,755 | -2.1% |
| Equity | 10/15 | €47,655 | €46,332 | -€1,323 | -2.8% |
| Contributions | 10/11 | €27,268 | €27,268 | = | 0.0% |
| Reserves | 13 | €15,122 | €15,122 | = | 0.0% |
| Non-distributable reserves | 130/1 | €2,727 | €2,727 | = | 0.0% |
| Reserves not available under the articles | 1311 | €2,727 | €2,727 | = | 0.0% |
| Distributable reserves | 133 | €12,395 | €12,395 | = | 0.0% |
| Profit (loss) carried forward | 14 | €1,016 | €768 | -€248 | -24.4% |
| Investment grants | 15 | €4,249 | €3,174 | -€1,075 | -25.3% |
| Provisions and deferred taxes | 16 | €2,188 | €1,635 | -€554 | -25.3% |
| Deferred taxes | 168 | €2,188 | €1,635 | -€554 | -25.3% |
| Amounts payable | 17/49 | €1,391,139 | €1,362,261 | -€28,878 | -2.1% |
| Amounts payable after more than one year | 17 | €1,148,967 | €1,141,911 | -€7,057 | -0.6% |
| Financial debts | 170/4 | €1,148,967 | €1,141,911 | -€7,057 | -0.6% |
| Amounts payable within one year | 42/48 | €231,567 | €219,655 | -€11,912 | -5.1% |
| Current portion of amounts payable after more than one year | 42 | €50,008 | €66,710 | +€16,703 | +33.4% |
| Financial debts | 43 | €6,129 | €12,770 | +€6,641 | +108% |
| Credit institutions | 430/8 | €6,129 | €12,770 | +€6,641 | +108% |
| Trade debts | 44 | €120,281 | €50,920 | -€69,361 | -57.7% |
| Suppliers | 440/4 | €120,281 | €50,920 | -€69,361 | -57.7% |
| Taxes, remuneration and social security | 45 | €52,549 | €41,255 | -€11,294 | -21.5% |
| Taxes | 450/3 | €19,901 | €4,223 | -€15,678 | -78.8% |
| Remuneration and social security | 454/9 | €32,648 | €37,032 | +€4,383 | +13.4% |
| Other amounts payable | 47/48 | €2,600 | €48,000 | +€45,400 | +1,746% |
| Accrued charges and deferred income | 492/3 | €10,605 | €695 | -€9,910 | -93.4% |
| Remuneration, social security and pensions | 62 | €271,973 | €265,182 | -€6,791 | -2.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €116,845 | €71,697 | -€45,148 | -38.6% |
| Other operating charges | 640/8 | €9,532 | €13,855 | +€4,323 | +45.4% |
| Gross operating margin | 9900 | €538,209 | €438,998 | -€99,211 | -18.4% |
| Operating profit (loss) | 9901 | €139,860 | €88,264 | -€51,596 | -36.9% |
| Financial income | 75/76B | €2,092 | €32,825 | +€30,732 | +1,469% |
| Recurring financial income | 75 | €2,092 | €32,825 | +€30,732 | +1,469% |
| Financial charges | 65/66B | €71,156 | €73,717 | +€2,561 | +3.6% |
| Recurring financial charges | 65 | €71,156 | €73,717 | +€2,561 | +3.6% |
| Profit (loss) for the period before taxes | 9903 | €70,796 | €47,372 | -€23,425 | -33.1% |
| Transfer from deferred taxes | 780 | €554 | €554 | = | 0.0% |
| Income taxes | 67/77 | €214 | €174 | -€40 | -18.9% |
| Profit (loss) for the period | 9904 | €71,136 | €47,752 | -€23,384 | -32.9% |
| Profit (loss) for the period to be appropriated | 9905 | €71,136 | €47,752 | -€23,384 | -32.9% |
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 18 October 2026 via checked.be.