LECLERCQ: 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.
LECLERCQ
Largest movements
- Current investments +€293,665
up €293,665 (+97.9%), from €300,000 to €593,665
- Cash -€213,085
down €213,085 (-19.2%), from €1.1m to €899,558
mainly Current investments (-€293,665) and Other debts (-€47,720)
- Reserves +€124,384
up €124,384 (+11.0%), from €1.1m to €1.3m
of which Distributable reserves: +€124,384
- Other debts -€47,720
down €47,720 (-15.8%), from €302,949 to €255,229
- Gross operating margin -€50,775
down €50,775 (-18.0%), from €282,479 to €231,704
- Taxes -€12,327
down €12,327 (-16.6%), from €74,139 to €61,812
- Financial income +€4,501
up €4,501 (+51.1%), from €8,807 to €13,308
- Financial charges -€2,892
down €2,892 (-30.6%), from €9,446 to €6,554
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 | €1,483,185 | €1,558,889 | +€75,704 | +5.1% |
| Fixed assets | 21/28 | €24,257 | €12,326 | -€11,931 | -49.2% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €24,062 | €12,131 | -€11,931 | -49.6% |
| Land and buildings | 22 | €2,858 | €2,858 | = | 0.0% |
| Furniture and vehicles | 24 | €21,204 | €9,273 | -€11,931 | -56.3% |
| Financial fixed assets | 28 | €196 | €196 | = | 0.0% |
| Current assets | 29/58 | €1,458,928 | €1,546,563 | +€87,635 | +6.0% |
| Amounts receivable within one year | 40/41 | €45,864 | €52,525 | +€6,660 | +14.5% |
| Trade receivables | 40 | €45,864 | €52,525 | +€6,660 | +14.5% |
| Current investments | 50/53 | €300,000 | €593,665 | +€293,665 | +97.9% |
| Cash at bank and in hand | 54/58 | €1,112,644 | €899,558 | -€213,085 | -19.2% |
| Deferred charges and accrued income | 490/1 | €420 | €815 | +€395 | +94.3% |
| Total equity and liabilities | 10/49 | €1,483,185 | €1,558,889 | +€75,704 | +5.1% |
| Equity | 10/15 | €1,138,414 | €1,262,799 | +€124,384 | +10.9% |
| Contributions | 10/11 | €6,197 | €6,197 | = | 0.0% |
| Reserves | 13 | €1,132,217 | €1,256,601 | +€124,384 | +11.0% |
| Non-distributable reserves | 130/1 | €19,859 | €19,859 | = | 0.0% |
| Reserves not available under the articles | 1311 | €19,859 | €19,859 | = | 0.0% |
| Tax-exempt reserves | 132 | €948 | €948 | = | 0.0% |
| Distributable reserves | 133 | €1,111,409 | €1,235,794 | +€124,384 | +11.2% |
| Amounts payable | 17/49 | €344,771 | €296,090 | -€48,680 | -14.1% |
| Amounts payable within one year | 42/48 | €344,771 | €296,090 | -€48,680 | -14.1% |
| Trade debts | 44 | €1,720 | €1,858 | +€138 | +8.0% |
| Suppliers | 440/4 | €1,720 | €1,858 | +€138 | +8.0% |
| Taxes, remuneration and social security | 45 | €40,101 | €39,003 | -€1,098 | -2.7% |
| Taxes | 450/3 | €32,835 | €31,553 | -€1,282 | -3.9% |
| Remuneration and social security | 454/9 | €7,266 | €7,450 | +€184 | +2.5% |
| Other amounts payable | 47/48 | €302,949 | €255,229 | -€47,720 | -15.8% |
| Non-recurring operating income | 76A | €2,367 | €3,873 | +€1,506 | +63.6% |
| Remuneration, social security and pensions | 62 | €34,778 | €35,876 | +€1,098 | +3.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,402 | €11,931 | -€471 | -3.8% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €1,635 | - | -€1,635 | |
| Other operating charges | 640/8 | €3,397 | €3,641 | +€243 | +7.2% |
| Non-recurring operating charges | 66A | €3,585 | €814 | -€2,771 | -77.3% |
| Gross operating margin | 9900 | €282,479 | €231,704 | -€50,775 | -18.0% |
| Operating profit (loss) | 9901 | €226,682 | €179,443 | -€47,239 | -20.8% |
| Financial income | 75/76B | €8,807 | €13,308 | +€4,501 | +51.1% |
| Recurring financial income | 75 | €8,807 | €13,308 | +€4,501 | +51.1% |
| Financial charges | 65/66B | €9,446 | €6,554 | -€2,892 | -30.6% |
| Recurring financial charges | 65 | €9,446 | €6,554 | -€2,892 | -30.6% |
| Profit (loss) for the period before taxes | 9903 | €226,043 | €186,196 | -€39,847 | -17.6% |
| Income taxes | 67/77 | €74,139 | €61,812 | -€12,327 | -16.6% |
| Profit (loss) for the period | 9904 | €151,904 | €124,384 | -€27,519 | -18.1% |
| Profit (loss) for the period to be appropriated | 9905 | €151,904 | €124,384 | -€27,519 | -18.1% |
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 22 October 2026 via checked.be.