LECOVA: 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.
LECOVA
Largest movements
- Cash -€150,140
down €150,140 (-5.3%), from €2.8m to €2.7m
mainly Contributions, distributions and other (-€215,000) and Tax, wage and social debts (-€21,950)
- Reserves -€152,000
down €152,000 (-9.2%), from €1.7m to €1.5m
of which Distributable reserves: -€152,000
- Gross operating margin -€247,649
down €247,649 (-71.1%), from €348,228 to €100,579
- Taxes -€57,954
down €57,954 (-59.4%), from €97,501 to €39,546
- Financial income +€19,637
up €19,637 (+79.1%), from €24,827 to €44,464
- Other operating charges -€5,106
down €5,106 (-15.3%), from €33,436 to €28,330
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 | €4,078,135 | €3,901,012 | -€177,123 | -4.3% |
| Fixed assets | 21/28 | €1,177,161 | €1,164,745 | -€12,416 | -1.1% |
| Tangible fixed assets | 22/27 | €1,174,678 | €1,162,262 | -€12,416 | -1.1% |
| Land and buildings | 22 | €1,145,504 | €1,139,548 | -€5,956 | -0.5% |
| Plant, machinery and equipment | 23 | €29,174 | €22,714 | -€6,460 | -22.1% |
| Financial fixed assets | 28 | €2,483 | €2,483 | = | 0.0% |
| Current assets | 29/58 | €2,900,975 | €2,736,268 | -€164,707 | -5.7% |
| Amounts receivable within one year | 40/41 | €52,948 | €37,539 | -€15,409 | -29.1% |
| Other amounts receivable | 41 | €52,948 | €37,539 | -€15,409 | -29.1% |
| Cash at bank and in hand | 54/58 | €2,841,020 | €2,690,880 | -€150,140 | -5.3% |
| Deferred charges and accrued income | 490/1 | €7,006 | €7,848 | +€842 | +12.0% |
| Total equity and liabilities | 10/49 | €4,078,135 | €3,901,012 | -€177,123 | -4.3% |
| Equity | 10/15 | €3,823,836 | €3,672,291 | -€151,545 | -4.0% |
| Contributions | 10/11 | €941,995 | €941,995 | = | 0.0% |
| Capital | 10 | €941,995 | €941,995 | = | 0.0% |
| Issued capital | 100 | €941,995 | €941,995 | = | 0.0% |
| Revaluation surpluses | 12 | €95,757 | €95,757 | = | 0.0% |
| Reserves | 13 | €1,651,200 | €1,499,200 | -€152,000 | -9.2% |
| Non-distributable reserves | 130/1 | €94,200 | €94,200 | = | 0.0% |
| Legal reserve | 130 | €94,200 | €94,200 | = | 0.0% |
| Distributable reserves | 133 | €1,557,000 | €1,405,000 | -€152,000 | -9.8% |
| Profit (loss) carried forward | 14 | €1,134,884 | €1,135,339 | +€455 | 0.0% |
| Amounts payable | 17/49 | €254,299 | €228,721 | -€25,578 | -10.1% |
| Amounts payable after more than one year | 17 | €11,814 | €5,865 | -€5,949 | -50.4% |
| Other amounts payable | 178/9 | €11,814 | €5,865 | -€5,949 | -50.4% |
| Amounts payable within one year | 42/48 | €241,664 | €222,012 | -€19,653 | -8.1% |
| Trade debts | 44 | €3,414 | €712 | -€2,703 | -79.2% |
| Suppliers | 440/4 | €3,414 | €712 | -€2,703 | -79.2% |
| Taxes, remuneration and social security | 45 | €28,250 | €6,300 | -€21,950 | -77.7% |
| Taxes | 450/3 | €28,250 | €6,300 | -€21,950 | -77.7% |
| Other amounts payable | 47/48 | €210,000 | €215,000 | +€5,000 | +2.4% |
| Accrued charges and deferred income | 492/3 | €820 | €845 | +€25 | +3.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €11,626 | €12,416 | +€790 | +6.8% |
| Other operating charges | 640/8 | €33,436 | €28,330 | -€5,106 | -15.3% |
| Gross operating margin | 9900 | €348,228 | €100,579 | -€247,649 | -71.1% |
| Operating profit (loss) | 9901 | €303,166 | €59,833 | -€243,333 | -80.3% |
| Financial income | 75/76B | €24,827 | €44,464 | +€19,637 | +79.1% |
| Recurring financial income | 75 | €24,827 | €44,464 | +€19,637 | +79.1% |
| Financial charges | 65/66B | €207 | €1,296 | +€1,089 | +526% |
| Recurring financial charges | 65 | €207 | €1,296 | +€1,089 | +526% |
| Profit (loss) for the period before taxes | 9903 | €327,785 | €103,001 | -€224,784 | -68.6% |
| Income taxes | 67/77 | €97,501 | €39,546 | -€57,954 | -59.4% |
| Profit (loss) for the period | 9904 | €230,285 | €63,455 | -€166,830 | -72.4% |
| Profit (loss) for the period to be appropriated | 9905 | €230,285 | €63,455 | -€166,830 | -72.4% |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 14 October 2026 via checked.be.