LECOQ S.A.: 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.
What changed
LECOQ S.A.
NACE 43.240, Other construction installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€6,081
2024 · €6,391-€311
Equity
€180,549
2024 · €174,468+€6,081
Cash
€13,665
2024 · €9,821+€3,844
Balance sheet total
€1.4m
2024 · €1.5m-€131,968
Largest movements
Assets
- Receivables within one year -€87,893
down €87,893 (-20.6%), from €427,377 to €339,484
of which Trade receivables: -€93,824
- Stocks and contracts -€42,875
down €42,875 (-8.2%), from €522,865 to €479,989
Equity and liabilities
- Debts after one year -€99,650
down €99,650 (-18.8%), from €529,080 to €429,430
of which Financial debts: -€73,512
- Trade debts -€47,375
down €47,375 (-17.8%), from €265,422 to €218,048
- Advances received +€27,329
up €27,329 (+33.6%), from €81,260 to €108,590
Income statement
- Staff costs +€70,292
up €70,292 (+90.7%), from €77,497 to €147,789
- Gross operating margin +€54,053
up €54,053 (+30.7%), from €176,033 to €230,086
- Other operating charges -€10,910
down €10,910 (-54.4%), from €20,074 to €9,164
- Financial charges -€7,766
down €7,766 (-19.8%), from €39,231 to €31,466
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.
Result 2024
€6,391
Gross operating margin
+€54,053
Staff costs
-€70,292
Depreciation
-€1,031
Other operating charges
+€10,910
Other operating items
-€590
Financial income
-€1,525
Financial charges
+€7,766
Taxes
+€399
Result 2025
€6,081
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€121,034
Investment
-€25,010
Financing
-€92,180
Cash 2024
€9,821
From operations (derived)
+€121,034
Net result for the year
+€6,081
Depreciation
+€31,507
Stocks and contracts
+€42,875
Receivables within one year
+€87,893
Deferred charges and accrued income
-€1,454
Trade debts
-€47,375
Tax, wage and social debts
-€14,544
Advances received
+€27,329
Other debts
-€10,863
Accrued charges and deferred income
-€415
Investment (derived)
-€25,010
Investment in fixed assets (net)
-€25,010
Financing
-€92,180
Debts after one year
-€99,650
Current portion of long-term debt
+€2,190
Short-term financial debts
+€5,279
Cash 2025
€13,665
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,513,141 | €1,381,174 | -€131,968 | -8.7% |
| Fixed assets | 21/28 | €549,138 | €542,641 | -€6,497 | -1.2% |
| Intangible fixed assets | 21 | €649 | €349 | -€300 | -46.2% |
| Tangible fixed assets | 22/27 | €548,490 | €542,292 | -€6,197 | -1.1% |
| Land and buildings | 22 | €450,000 | €450,000 | = | 0.0% |
| Plant, machinery and equipment | 23 | €75,012 | €66,093 | -€8,919 | -11.9% |
| Furniture and vehicles | 24 | €23,478 | €26,200 | +€2,722 | +11.6% |
| Current assets | 29/58 | €964,003 | €838,532 | -€125,471 | -13.0% |
| Stocks and contracts in progress | 3 | €522,865 | €479,989 | -€42,875 | -8.2% |
| Stocks | 30/36 | €522,865 | €479,989 | -€42,875 | -8.2% |
| Amounts receivable within one year | 40/41 | €427,377 | €339,484 | -€87,893 | -20.6% |
| Trade receivables | 40 | €381,808 | €287,983 | -€93,824 | -24.6% |
| Other amounts receivable | 41 | €45,570 | €51,501 | +€5,931 | +13.0% |
| Cash at bank and in hand | 54/58 | €9,821 | €13,665 | +€3,844 | +39.1% |
| Deferred charges and accrued income | 490/1 | €3,940 | €5,394 | +€1,454 | +36.9% |
| Total equity and liabilities | 10/49 | €1,513,141 | €1,381,174 | -€131,968 | -8.7% |
| Equity | 10/15 | €174,468 | €180,549 | +€6,081 | +3.5% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €112,468 | €118,549 | +€6,081 | +5.4% |
| Non-distributable reserves | 130/1 | €6,200 | €6,200 | = | 0.0% |
| Legal reserve | 130 | €6,200 | €6,200 | = | 0.0% |
| Distributable reserves | 133 | €106,268 | €112,349 | +€6,081 | +5.7% |
| Amounts payable | 17/49 | €1,338,673 | €1,200,625 | -€138,048 | -10.3% |
| Amounts payable after more than one year | 17 | €529,080 | €429,430 | -€99,650 | -18.8% |
| Financial debts | 170/4 | €419,487 | €345,975 | -€73,512 | -17.5% |
| Other amounts payable | 178/9 | €109,592 | €83,455 | -€26,137 | -23.8% |
| Amounts payable within one year | 42/48 | €808,069 | €770,085 | -€37,984 | -4.7% |
| Current portion of amounts payable after more than one year | 42 | €77,524 | €79,715 | +€2,190 | +2.8% |
| Financial debts | 43 | €279,533 | €284,812 | +€5,279 | +1.9% |
| Credit institutions | 430/8 | €279,533 | €284,812 | +€5,279 | +1.9% |
| Trade debts | 44 | €265,422 | €218,048 | -€47,375 | -17.8% |
| Suppliers | 440/4 | €265,422 | €218,048 | -€47,375 | -17.8% |
| Advances received on contracts in progress | 46 | €81,260 | €108,590 | +€27,329 | +33.6% |
| Taxes, remuneration and social security | 45 | €39,211 | €24,666 | -€14,544 | -37.1% |
| Taxes | 450/3 | €23,334 | €4,851 | -€18,484 | -79.2% |
| Remuneration and social security | 454/9 | €15,876 | €19,816 | +€3,939 | +24.8% |
| Other amounts payable | 47/48 | €65,118 | €54,255 | -€10,863 | -16.7% |
| Accrued charges and deferred income | 492/3 | €1,524 | €1,110 | -€415 | -27.2% |
| Remuneration, social security and pensions | 62 | €77,497 | €147,789 | +€70,292 | +90.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,476 | €31,507 | +€1,031 | +3.4% |
| Other operating charges | 640/8 | €20,074 | €9,164 | -€10,910 | -54.4% |
| Non-recurring operating charges | 66A | - | €590 | +€590 | |
| Gross operating margin | 9900 | €176,033 | €230,086 | +€54,053 | +30.7% |
| Operating profit (loss) | 9901 | €47,986 | €41,036 | -€6,950 | -14.5% |
| Financial income | 75/76B | €1,670 | €145 | -€1,525 | -91.3% |
| Recurring financial income | 75 | €1,670 | €145 | -€1,525 | -91.3% |
| Financial charges | 65/66B | €39,231 | €31,466 | -€7,766 | -19.8% |
| Recurring financial charges | 65 | €39,231 | €31,466 | -€7,766 | -19.8% |
| Profit (loss) for the period before taxes | 9903 | €10,425 | €9,715 | -€710 | -6.8% |
| Income taxes | 67/77 | €4,033 | €3,634 | -€399 | -9.9% |
| Profit (loss) for the period | 9904 | €6,391 | €6,081 | -€311 | -4.9% |
| Profit (loss) for the period to be appropriated | 9905 | €6,391 | €6,081 | -€311 | -4.9% |
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 31 October 2026 via checked.be.