LECOBOUW: 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.
LECOBOUW
Largest movements
- Current investments +€300,000
new in 2025: €300,000
- Cash -€264,165
down €264,165 (-76.0%), from €347,633 to €83,467
mainly Current investments (-€300,000) and Other debts (-€89,091)
- Receivables within one year -€58,653
down €58,653 (-10.8%), from €543,157 to €484,505
of which Trade receivables: -€298,426
- Tangible fixed assets +€21,284
up €21,284 (+81.0%), from €26,263 to €47,547
of which Furniture and vehicles: +€20,591
- Trade debts +€134,268
up €134,268 (+129%), from €104,470 to €238,738
- Other debts -€89,091
down €89,091 (-29.1%), from €306,338 to €217,246
- Tax, wage and social debts -€42,531
down €42,531 (-42.7%), from €99,550 to €57,019
of which Taxes: -€42,543
- Reserves +€25,000
up €25,000 (+6.2%), from €404,767 to €429,767
- Current portion of long-term debt -€18,000
no longer reported in 2025 (was €18,000)
- Gross operating margin -€145,207
down €145,207 (-48.0%), from €302,587 to €157,380
- Taxes -€51,394
down €51,394 (-76.2%), from €67,487 to €16,094
- Staff costs +€12,395
up €12,395 (+20.2%), from €61,366 to €73,761
- Financial charges -€7,943
down €7,943 (-33.2%), from €23,890 to €15,947
of which Financial charges: -€7,991
- Depreciation -€3,861
down €3,861 (-12.7%), from €30,472 to €26,611
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 | €1,397,713 | €1,406,804 | +€9,091 | +0.7% |
| Fixed assets | 21/28 | €26,263 | €47,547 | +€21,284 | +81.0% |
| Tangible fixed assets | 22/27 | €26,263 | €47,547 | +€21,284 | +81.0% |
| Land and buildings | 22 | €0 | - | = | |
| Plant, machinery and equipment | 23 | €17,911 | €18,604 | +€693 | +3.9% |
| Furniture and vehicles | 24 | €8,352 | €28,943 | +€20,591 | +247% |
| Current assets | 29/58 | €1,371,450 | €1,359,257 | -€12,193 | -0.9% |
| Stocks and contracts in progress | 3 | €480,660 | €491,285 | +€10,624 | +2.2% |
| Stocks | 30/36 | €415,206 | €142,948 | -€272,258 | -65.6% |
| Contracts in progress | 37 | €65,454 | €348,336 | +€282,883 | +432% |
| Amounts receivable within one year | 40/41 | €543,157 | €484,505 | -€58,653 | -10.8% |
| Trade receivables | 40 | €391,107 | €92,681 | -€298,426 | -76.3% |
| Other amounts receivable | 41 | €152,050 | €391,824 | +€239,774 | +158% |
| Current investments | 50/53 | - | €300,000 | +€300,000 | |
| Cash at bank and in hand | 54/58 | €347,633 | €83,467 | -€264,165 | -76.0% |
| Total equity and liabilities | 10/49 | €1,397,713 | €1,406,804 | +€9,091 | +0.7% |
| Equity | 10/15 | €787,951 | €813,715 | +€25,764 | +3.3% |
| Contributions | 10/11 | €376,000 | €376,000 | = | 0.0% |
| Reserves | 13 | €404,767 | €429,767 | +€25,000 | +6.2% |
| Distributable reserves | 133 | €404,767 | €429,767 | +€25,000 | +6.2% |
| Profit (loss) carried forward | 14 | €7,184 | €7,948 | +€764 | +10.6% |
| Amounts payable | 17/49 | €609,762 | €593,089 | -€16,674 | -2.7% |
| Amounts payable within one year | 42/48 | €528,358 | €513,003 | -€15,355 | -2.9% |
| Current portion of amounts payable after more than one year | 42 | €18,000 | - | -€18,000 | |
| Trade debts | 44 | €104,470 | €238,738 | +€134,268 | +129% |
| Suppliers | 440/4 | €104,470 | €238,738 | +€134,268 | +129% |
| Taxes, remuneration and social security | 45 | €99,550 | €57,019 | -€42,531 | -42.7% |
| Taxes | 450/3 | €92,759 | €50,217 | -€42,543 | -45.9% |
| Remuneration and social security | 454/9 | €6,791 | €6,802 | +€12 | +0.2% |
| Other amounts payable | 47/48 | €306,338 | €217,246 | -€89,091 | -29.1% |
| Accrued charges and deferred income | 492/3 | €81,404 | €80,085 | -€1,319 | -1.6% |
| Non-recurring operating income | 76A | €72,866 | - | -€72,866 | |
| Remuneration, social security and pensions | 62 | €61,366 | €73,761 | +€12,395 | +20.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,472 | €26,611 | -€3,861 | -12.7% |
| Other operating charges | 640/8 | €5,423 | €2,042 | -€3,380 | -62.3% |
| Gross operating margin | 9900 | €302,587 | €157,380 | -€145,207 | -48.0% |
| Operating profit (loss) | 9901 | €205,326 | €54,966 | -€150,360 | -73.2% |
| Financial income | 75/76B | €3,176 | €3,671 | +€495 | +15.6% |
| Recurring financial income | 75 | €3,176 | €3,671 | +€495 | +15.6% |
| Financial charges | 65/66B | €23,890 | €15,947 | -€7,943 | -33.2% |
| Recurring financial charges | 65 | €23,890 | €15,899 | -€7,991 | -33.4% |
| Non-recurring financial charges | 66B | - | €48 | +€48 | |
| Profit (loss) for the period before taxes | 9903 | €184,612 | €42,691 | -€141,922 | -76.9% |
| Income taxes | 67/77 | €67,487 | €16,094 | -€51,394 | -76.2% |
| Profit (loss) for the period | 9904 | €117,125 | €26,597 | -€90,528 | -77.3% |
| Profit (loss) for the period to be appropriated | 9905 | €117,125 | €26,597 | -€90,528 | -77.3% |
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 17 October 2026 via checked.be.