LECOFIN: 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.
LECOFIN
Largest movements
- Current investments -€100,000
down €100,000 (-100%), from €100,000 to €0
- Cash +€89,591
up €89,591 (+196%), from €45,671 to €135,262
mainly Current investments (+€100,000) and Net result for the year (+€74,690)
- Receivables within one year +€76,815
up €76,815, from €0 to €76,815
- Tangible fixed assets -€13,637
down €13,637 (-27.2%), from €50,158 to €36,521
of which Furniture and vehicles: -€13,249
- Deferred charges and accrued income +€8,096
up €8,096 (+633%), from €1,279 to €9,375
- Reserves +€48,782
up €48,782 (+25.4%), from €191,873 to €240,656
- Other debts +€10,909
up €10,909 (+72.7%), from €14,998 to €25,908
- Debts after one year -€9,016
down €9,016 (-36.1%), from €24,950 to €15,934
- Tax, wage and social debts +€4,950
up €4,950 (+171%), from €2,902 to €7,852
- Gross operating margin +€38,061
up €38,061 (+54.4%), from €69,946 to €108,007
- Taxes +€10,353
up €10,353 (+62.7%), from €16,522 to €26,875
- Financial income +€6,113
up €6,113 (+290%), from €2,107 to €8,220
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 | €257,608 | €312,974 | +€55,366 | +21.5% |
| Fixed assets | 21/28 | €110,658 | €91,521 | -€19,137 | -17.3% |
| Tangible fixed assets | 22/27 | €50,158 | €36,521 | -€13,637 | -27.2% |
| Plant, machinery and equipment | 23 | €1,155 | €767 | -€388 | -33.6% |
| Furniture and vehicles | 24 | €49,003 | €35,754 | -€13,249 | -27.0% |
| Financial fixed assets | 28 | €60,500 | €55,000 | -€5,500 | -9.1% |
| Current assets | 29/58 | €146,949 | €221,452 | +€74,503 | +50.7% |
| Amounts receivable within one year | 40/41 | €0 | €76,815 | +€76,815 | |
| Other amounts receivable | 41 | €0 | €76,815 | +€76,815 | |
| Current investments | 50/53 | €100,000 | €0 | -€100,000 | -100% |
| Cash at bank and in hand | 54/58 | €45,671 | €135,262 | +€89,591 | +196% |
| Deferred charges and accrued income | 490/1 | €1,279 | €9,375 | +€8,096 | +633% |
| Total equity and liabilities | 10/49 | €257,608 | €312,974 | +€55,366 | +21.5% |
| Equity | 10/15 | €204,273 | €253,056 | +€48,782 | +23.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €191,873 | €240,656 | +€48,782 | +25.4% |
| Distributable reserves | 133 | €191,873 | €240,656 | +€48,782 | +25.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €53,334 | €59,918 | +€6,584 | +12.3% |
| Amounts payable after more than one year | 17 | €24,950 | €15,934 | -€9,016 | -36.1% |
| Financial debts | 170/4 | €24,950 | €15,934 | -€9,016 | -36.1% |
| Amounts payable within one year | 42/48 | €28,375 | €43,984 | +€15,609 | +55.0% |
| Current portion of amounts payable after more than one year | 42 | €8,951 | €9,016 | +€65 | +0.7% |
| Trade debts | 44 | €1,523 | €1,208 | -€315 | -20.7% |
| Suppliers | 440/4 | €1,523 | €1,208 | -€315 | -20.7% |
| Taxes, remuneration and social security | 45 | €2,902 | €7,852 | +€4,950 | +171% |
| Taxes | 450/3 | €2,902 | €7,852 | +€4,950 | +171% |
| Other amounts payable | 47/48 | €14,998 | €25,908 | +€10,909 | +72.7% |
| Accrued charges and deferred income | 492/3 | €10 | €0 | -€10 | -100% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,637 | €13,637 | = | 0.0% |
| Other operating charges | 640/8 | €331 | €762 | +€431 | +130% |
| Gross operating margin | 9900 | €69,946 | €108,007 | +€38,061 | +54.4% |
| Operating profit (loss) | 9901 | €55,978 | €93,608 | +€37,630 | +67.2% |
| Financial income | 75/76B | €2,107 | €8,220 | +€6,113 | +290% |
| Recurring financial income | 75 | €2,107 | €8,220 | +€6,113 | +290% |
| Financial charges | 65/66B | €812 | €262 | -€551 | -67.8% |
| Recurring financial charges | 65 | €812 | €262 | -€551 | -67.8% |
| Profit (loss) for the period before taxes | 9903 | €57,272 | €101,565 | +€44,293 | +77.3% |
| Income taxes | 67/77 | €16,522 | €26,875 | +€10,353 | +62.7% |
| Profit (loss) for the period | 9904 | €40,750 | €74,690 | +€33,940 | +83.3% |
| Profit (loss) for the period to be appropriated | 9905 | €40,750 | €74,690 | +€33,940 | +83.3% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.