LeCo Projects: 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.
LeCo Projects
Largest movements
- Receivables within one year -€10,767
down €10,767 (-43.7%), from €24,623 to €13,857
of which Other amounts receivable: -€14,267
- Cash +€5,340
up €5,340 (+43.2%), from €12,355 to €17,695
mainly Other debts (+€17,541) and Receivables within one year (+€10,767)
- Tangible fixed assets -€5,065
down €5,065 (-41.1%), from €12,315 to €7,251
of which Furniture and vehicles: -€4,837
- Intangible fixed assets +€1,271
up €1,271 (+113.7%), from €1,118 to €2,389
- Deferred charges and accrued income +€681
up €681 (+243.4%), from €280 to €961
- Reserves -€22,435
down €22,435 (-68.3%), from €32,862 to €10,428
- Other debts +€17,541
new in 2025: €17,541
- Debts after one year -€3,158
no longer reported in 2025 (was €3,158)
- Current portion of long-term debt -€546
down €546 (-14.7%), from €3,704 to €3,158
- Gross operating margin +€18,462
up €18,462 (+325.3%), from €5,675 to €24,137
- Taxes +€6,458
up €6,458 (+2192.5%), from €295 to €6,753
- Depreciation +€277
up €277 (+4.8%), from €5,775 to €6,052
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.
Cash bridge derived
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 | €50,692 | €42,152 | -€8,539 | -16.8% |
| Fixed assets | 21/28 | €13,433 | €9,639 | -€3,794 | -28.2% |
| Intangible fixed assets | 21 | €1,118 | €2,389 | +€1,271 | +113.7% |
| Tangible fixed assets | 22/27 | €12,315 | €7,251 | -€5,065 | -41.1% |
| Plant, machinery and equipment | 23 | €602 | €375 | -€227 | -37.7% |
| Furniture and vehicles | 24 | €11,713 | €6,876 | -€4,837 | -41.3% |
| Current assets | 29/58 | €37,259 | €32,513 | -€4,745 | -12.7% |
| Amounts receivable within one year | 40/41 | €24,623 | €13,857 | -€10,767 | -43.7% |
| Trade receivables | 40 | €9,157 | €12,657 | +€3,500 | +38.2% |
| Other amounts receivable | 41 | €15,467 | €1,200 | -€14,267 | -92.2% |
| Cash at bank and in hand | 54/58 | €12,355 | €17,695 | +€5,340 | +43.2% |
| Deferred charges and accrued income | 490/1 | €280 | €961 | +€681 | +243.4% |
| Total equity and liabilities | 10/49 | €50,692 | €42,152 | -€8,539 | -16.8% |
| Equity | 10/15 | €36,862 | €14,428 | -€22,435 | -60.9% |
| Contributions | 10/11 | €4,000 | €4,000 | = | 0.0% |
| Reserves | 13 | €32,862 | €10,428 | -€22,435 | -68.3% |
| Distributable reserves | 133 | €32,862 | €10,428 | -€22,435 | -68.3% |
| Amounts payable | 17/49 | €13,829 | €27,725 | +€13,895 | +100.5% |
| Amounts payable after more than one year | 17 | €3,158 | - | -€3,158 | |
| Financial debts | 170/4 | €3,158 | - | -€3,158 | |
| Amounts payable within one year | 42/48 | €10,671 | €27,725 | +€17,054 | +159.8% |
| Current portion of amounts payable after more than one year | 42 | €3,704 | €3,158 | -€546 | -14.7% |
| Trade debts | 44 | €753 | €533 | -€220 | -29.2% |
| Suppliers | 440/4 | €753 | €533 | -€220 | -29.2% |
| Taxes, remuneration and social security | 45 | €6,214 | €6,492 | +€278 | +4.5% |
| Taxes | 450/3 | €6,214 | €6,492 | +€278 | +4.5% |
| Other amounts payable | 47/48 | - | €17,541 | +€17,541 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,775 | €6,052 | +€277 | +4.8% |
| Other operating charges | 640/8 | €534 | €454 | -€80 | -15.0% |
| Gross operating margin | 9900 | €5,675 | €24,137 | +€18,462 | +325.3% |
| Operating profit (loss) | 9901 | -€634 | €17,631 | +€18,265 | |
| Financial income | 75/76B | €13 | €9 | -€3 | -26.8% |
| Recurring financial income | 75 | €13 | €9 | -€3 | -26.8% |
| Financial charges | 65/66B | €498 | €460 | -€38 | -7.6% |
| Recurring financial charges | 65 | €498 | €460 | -€38 | -7.6% |
| Profit (loss) for the period before taxes | 9903 | -€1,119 | €17,181 | +€18,300 | |
| Income taxes | 67/77 | €295 | €6,753 | +€6,458 | +2192.5% |
| Profit (loss) for the period | 9904 | -€1,414 | €10,428 | +€11,842 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,414 | €10,428 | +€11,842 |
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 9 October 2026 via checked.be.