LECIWI: 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.
LECIWI
Largest movements
- Cash +€70,111
up €70,111 (+215%), from €32,683 to €102,794
mainly Net result for the year (+€112,245) and Receivables after one year (+€60,000)
- Receivables after one year -€60,000
down €60,000 (-80.0%), from €75,000 to €15,000
- Receivables within one year +€30,000
up €30,000 (+17.8%), from €168,427 to €198,427
of which Trade receivables: +€36,300
- Reserves +€85,031
up €85,031 (+27.8%), from €305,399 to €390,429
of which Distributable reserves: +€85,031
- Debts after one year -€50,000
down €50,000 (-17.9%), from €279,167 to €229,167
- Other debts +€22,139
up €22,139 (+7.9%), from €280,230 to €302,369
- Gross operating margin +€33,157
up €33,157 (+19.7%), from €167,945 to €201,102
- Taxes +€6,745
up €6,745 (+14.8%), from €45,681 to €52,426
- Financial charges -€3,048
down €3,048 (-8.6%), from €35,579 to €32,531
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 | €1,123,557 | €1,158,429 | +€34,871 | +3.1% |
| Fixed assets | 21/28 | €842,974 | €842,208 | -€766 | -0.1% |
| Tangible fixed assets | 22/27 | €197,921 | €197,155 | -€766 | -0.4% |
| Land and buildings | 22 | €197,921 | €197,155 | -€766 | -0.4% |
| Financial fixed assets | 28 | €645,053 | €645,053 | = | 0.0% |
| Current assets | 29/58 | €280,584 | €316,221 | +€35,637 | +12.7% |
| Amounts receivable after more than one year | 29 | €75,000 | €15,000 | -€60,000 | -80.0% |
| Other amounts receivable | 291 | €75,000 | €15,000 | -€60,000 | -80.0% |
| Amounts receivable within one year | 40/41 | €168,427 | €198,427 | +€30,000 | +17.8% |
| Trade receivables | 40 | €18,150 | €54,450 | +€36,300 | +200% |
| Other amounts receivable | 41 | €150,277 | €143,977 | -€6,300 | -4.2% |
| Cash at bank and in hand | 54/58 | €32,683 | €102,794 | +€70,111 | +215% |
| Deferred charges and accrued income | 490/1 | €4,474 | €0 | -€4,474 | -100% |
| Total equity and liabilities | 10/49 | €1,123,557 | €1,158,429 | +€34,871 | +3.1% |
| Equity | 10/15 | €478,730 | €563,760 | +€85,031 | +17.8% |
| Contributions | 10/11 | €173,331 | €173,331 | = | 0.0% |
| Capital | 10 | €173,331 | €173,331 | = | 0.0% |
| Issued capital | 100 | €173,331 | €173,331 | = | 0.0% |
| Reserves | 13 | €305,399 | €390,429 | +€85,031 | +27.8% |
| Non-distributable reserves | 130/1 | €17,840 | €17,840 | = | 0.0% |
| Legal reserve | 130 | €17,840 | €17,840 | = | 0.0% |
| Distributable reserves | 133 | €287,558 | €372,589 | +€85,031 | +29.6% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €644,828 | €594,669 | -€50,159 | -7.8% |
| Amounts payable after more than one year | 17 | €279,167 | €229,167 | -€50,000 | -17.9% |
| Financial debts | 170/4 | €279,167 | €229,167 | -€50,000 | -17.9% |
| Amounts payable within one year | 42/48 | €365,661 | €365,502 | -€159 | 0.0% |
| Current portion of amounts payable after more than one year | 42 | €60,852 | €50,000 | -€10,852 | -17.8% |
| Trade debts | 44 | €2,186 | €2,280 | +€94 | +4.3% |
| Suppliers | 440/4 | €2,186 | €2,280 | +€94 | +4.3% |
| Taxes, remuneration and social security | 45 | €22,393 | €10,853 | -€11,540 | -51.5% |
| Taxes | 450/3 | €10,728 | €8,013 | -€2,715 | -25.3% |
| Remuneration and social security | 454/9 | €11,665 | €2,840 | -€8,824 | -75.6% |
| Other amounts payable | 47/48 | €280,230 | €302,369 | +€22,139 | +7.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €766 | €766 | = | 0.0% |
| Other operating charges | 640/8 | €10,334 | €10,657 | +€323 | +3.1% |
| Gross operating margin | 9900 | €167,945 | €201,102 | +€33,157 | +19.7% |
| Operating profit (loss) | 9901 | €156,845 | €189,678 | +€32,834 | +20.9% |
| Financial income | 75/76B | €8,694 | €7,524 | -€1,170 | -13.5% |
| Recurring financial income | 75 | €8,694 | €7,524 | -€1,170 | -13.5% |
| Financial charges | 65/66B | €35,579 | €32,531 | -€3,048 | -8.6% |
| Recurring financial charges | 65 | €35,579 | €32,531 | -€3,048 | -8.6% |
| Profit (loss) for the period before taxes | 9903 | €129,960 | €164,671 | +€34,711 | +26.7% |
| Income taxes | 67/77 | €45,681 | €52,426 | +€6,745 | +14.8% |
| Profit (loss) for the period | 9904 | €84,279 | €112,245 | +€27,967 | +33.2% |
| Profit (loss) for the period to be appropriated | 9905 | €84,279 | €112,245 | +€27,967 | +33.2% |
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 28 October 2026 via checked.be.