LECLERCQ LUDOVIC: 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 LUDOVIC
Largest movements
- Tangible fixed assets -€78,698
down €78,698 (-18.7%), from €421,102 to €342,404
of which Furniture and vehicles: -€63,437
- Deferred charges and accrued income -€38,955
down €38,955 (-97.1%), from €40,132 to €1,177
- Cash +€8,375
up €8,375 (+537%), from €1,560 to €9,935
mainly Investment in fixed assets (net) (+€60,012) and Deferred charges and accrued income (+€38,955)
- Receivables within one year +€5,040
up €5,040 (+38.8%), from €12,990 to €18,030
of which Trade receivables: +€5,724
- Debts after one year -€40,879
down €40,879 (-32.9%), from €124,136 to €83,257
- Advances received -€40,535
no longer reported in 2024 (was €40,535)
- Trade debts +€18,509
up €18,509 (+38.0%), from €48,699 to €67,208
- Tax, wage and social debts -€13,880
down €13,880 (-54.1%), from €25,652 to €11,771
of which Remuneration and social security: -€8,925
- Profit (loss) carried forward -€13,496
down €13,496 (-48.8%), from €27,665 to €14,169
- Staff costs +€23,223
up €23,223 (+98.8%), from €23,502 to €46,725
- Depreciation -€11,525
down €11,525 (-38.1%), from €30,211 to €18,686
- Other operating charges -€5,127
down €5,127 (-84.1%), from €6,100 to €973
- Gross operating margin +€5,020
up €5,020 (+7.9%), from €63,631 to €68,651
- Financial charges +€2,168
up €2,168 (+26.6%), from €8,158 to €10,326
From the 2023 result to the 2024 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 2023 and 2024 balance sheets and the 2024 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2023 | 2024 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €476,784 | €372,547 | -€104,238 | -21.9% |
| Fixed assets | 21/28 | €422,102 | €343,404 | -€78,698 | -18.6% |
| Tangible fixed assets | 22/27 | €421,102 | €342,404 | -€78,698 | -18.7% |
| Land and buildings | 22 | €328,535 | €314,367 | -€14,168 | -4.3% |
| Plant, machinery and equipment | 23 | €2,371 | €3,379 | +€1,008 | +42.5% |
| Furniture and vehicles | 24 | €63,437 | - | -€63,437 | |
| Other tangible fixed assets | 26 | €26,760 | €24,658 | -€2,102 | -7.9% |
| Financial fixed assets | 28 | €1,000 | €1,000 | = | 0.0% |
| Current assets | 29/58 | €54,682 | €29,142 | -€25,540 | -46.7% |
| Amounts receivable within one year | 40/41 | €12,990 | €18,030 | +€5,040 | +38.8% |
| Trade receivables | 40 | €12,249 | €17,973 | +€5,724 | +46.7% |
| Other amounts receivable | 41 | €741 | €57 | -€684 | -92.3% |
| Cash at bank and in hand | 54/58 | €1,560 | €9,935 | +€8,375 | +537% |
| Deferred charges and accrued income | 490/1 | €40,132 | €1,177 | -€38,955 | -97.1% |
| Total equity and liabilities | 10/49 | €476,784 | €372,547 | -€104,238 | -21.9% |
| Equity | 10/15 | €48,125 | €34,629 | -€13,496 | -28.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Contributions outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Legal reserve | 130 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €27,665 | €14,169 | -€13,496 | -48.8% |
| Amounts payable | 17/49 | €428,659 | €337,918 | -€90,742 | -21.2% |
| Amounts payable after more than one year | 17 | €124,136 | €83,257 | -€40,879 | -32.9% |
| Financial debts | 170/4 | €124,136 | €83,257 | -€40,879 | -32.9% |
| Amounts payable within one year | 42/48 | €302,656 | €254,256 | -€48,400 | -16.0% |
| Current portion of amounts payable after more than one year | 42 | €40,489 | €40,879 | +€390 | +1.0% |
| Financial debts | 43 | €7,296 | - | -€7,296 | |
| Credit institutions | 430/8 | €7,296 | - | -€7,296 | |
| Trade debts | 44 | €48,699 | €67,208 | +€18,509 | +38.0% |
| Suppliers | 440/4 | €48,699 | €67,208 | +€18,509 | +38.0% |
| Advances received on contracts in progress | 46 | €40,535 | - | -€40,535 | |
| Taxes, remuneration and social security | 45 | €25,652 | €11,771 | -€13,880 | -54.1% |
| Taxes | 450/3 | €14,680 | €9,725 | -€4,956 | -33.8% |
| Remuneration and social security | 454/9 | €10,971 | €2,047 | -€8,925 | -81.3% |
| Other amounts payable | 47/48 | €139,985 | €134,397 | -€5,588 | -4.0% |
| Accrued charges and deferred income | 492/3 | €1,867 | €405 | -€1,462 | -78.3% |
| Non-recurring operating income | 76A | €40,300 | €65,095 | +€24,795 | +61.5% |
| Remuneration, social security and pensions | 62 | €23,502 | €46,725 | +€23,223 | +98.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,211 | €18,686 | -€11,525 | -38.1% |
| Other operating charges | 640/8 | €6,100 | €973 | -€5,127 | -84.1% |
| Non-recurring operating charges | 66A | - | €5,437 | +€5,437 | |
| Gross operating margin | 9900 | €63,631 | €68,651 | +€5,020 | +7.9% |
| Operating profit (loss) | 9901 | €3,818 | -€3,170 | -€6,988 | |
| Financial income | 75/76B | €0 | €0 | +€0 | +180% |
| Recurring financial income | 75 | €0 | €0 | +€0 | +180% |
| Financial charges | 65/66B | €8,158 | €10,326 | +€2,168 | +26.6% |
| Recurring financial charges | 65 | €8,158 | €10,326 | +€2,168 | +26.6% |
| Profit (loss) for the period before taxes | 9903 | -€4,340 | -€13,496 | -€9,156 | -211% |
| Profit (loss) for the period | 9904 | -€4,340 | -€13,496 | -€9,156 | -211% |
| Profit (loss) for the period to be appropriated | 9905 | -€4,340 | -€13,496 | -€9,156 | -211% |
Source: filed annual accounts (NBB), financial years ended 31 December 2023 and 31 December 2024. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 27 October 2026 via checked.be.