LECROQ: what changed
Two fiscal 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.
LECROQ
Largest movements
- Receivables after one year -€25,034
down €25,034 (-70.6%), from €35,479 to €10,445
- Current investments +€23,321
up €23,321 (+43.8%), from €53,303 to €76,624
- Cash +€15,057
up €15,057 (+49.4%), from €30,467 to €45,525
mainly Receivables after one year (+€25,034) and Net result for the year (+€22,531)
- Receivables within one year +€9,258
up €9,258 (+30.9%), from €29,960 to €39,219
of which Other amounts receivable: +€24,535
- Reserves +€22,531
up €22,531 (+19.3%), from €116,477 to €139,008
- Current portion of long-term debt -€3,381
no longer reported in 2025 (was €3,381)
- Short-term financial debts +€2,053
up €2,053 (+108.0%), from €1,900 to €3,953
- Gross operating margin -€31,542
down €31,542 (-47.1%), from €67,017 to €35,475
- Taxes -€8,164
down €8,164 (-47.3%), from €17,266 to €9,103
- Depreciation -€793
down €793 (-50.8%), from €1,563 to €770
- Financial charges +€789
up €789 (+49.1%), from €1,608 to €2,398
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 | €151,095 | €173,738 | +€22,644 | +15.0% |
| Fixed assets | 21/28 | €1,885 | €815 | -€1,070 | -56.7% |
| Tangible fixed assets | 22/27 | €1,585 | €815 | -€770 | -48.6% |
| Plant, machinery and equipment | 23 | €330 | - | -€330 | |
| Furniture and vehicles | 24 | €1,255 | €815 | -€439 | -35.0% |
| Financial fixed assets | 28 | €300 | - | -€300 | |
| Current assets | 29/58 | €149,209 | €172,923 | +€23,713 | +15.9% |
| Amounts receivable after more than one year | 29 | €35,479 | €10,445 | -€25,034 | -70.6% |
| Trade receivables | 290 | €35,479 | €10,445 | -€25,034 | -70.6% |
| Amounts receivable within one year | 40/41 | €29,960 | €39,219 | +€9,258 | +30.9% |
| Trade receivables | 40 | €26,443 | €11,167 | -€15,276 | -57.8% |
| Other amounts receivable | 41 | €3,518 | €28,052 | +€24,535 | +697.5% |
| Current investments | 50/53 | €53,303 | €76,624 | +€23,321 | +43.8% |
| Cash at bank and in hand | 54/58 | €30,467 | €45,525 | +€15,057 | +49.4% |
| Deferred charges and accrued income | 490/1 | - | €1,110 | +€1,110 | |
| Total equity and liabilities | 10/49 | €151,095 | €173,738 | +€22,644 | +15.0% |
| Equity | 10/15 | €136,937 | €159,468 | +€22,531 | +16.5% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €116,477 | €139,008 | +€22,531 | +19.3% |
| Distributable reserves | 133 | €116,477 | €139,008 | +€22,531 | +19.3% |
| Amounts payable | 17/49 | €14,157 | €14,270 | +€112 | +0.8% |
| Amounts payable within one year | 42/48 | €14,157 | €14,270 | +€112 | +0.8% |
| Current portion of amounts payable after more than one year | 42 | €3,381 | - | -€3,381 | |
| Financial debts | 43 | €1,900 | €3,953 | +€2,053 | +108.0% |
| Credit institutions | 430/8 | €1,900 | €3,953 | +€2,053 | +108.0% |
| Trade debts | 44 | €5,110 | €6,551 | +€1,441 | +28.2% |
| Suppliers | 440/4 | €5,110 | €6,551 | +€1,441 | +28.2% |
| Taxes, remuneration and social security | 45 | €3,766 | €3,766 | = | 0.0% |
| Taxes | 450/3 | €3,766 | €3,766 | = | 0.0% |
| Remuneration, social security and pensions | 62 | €84 | €129 | +€45 | +53.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,563 | €770 | -€793 | -50.8% |
| Other operating charges | 640/8 | €148 | €215 | +€67 | +45.5% |
| Non-recurring operating charges | 66A | - | €1,323 | +€1,323 | |
| Gross operating margin | 9900 | €67,017 | €35,475 | -€31,542 | -47.1% |
| Operating profit (loss) | 9901 | €65,222 | €33,039 | -€32,184 | -49.3% |
| Financial income | 75/76B | €1,050 | €993 | -€57 | -5.5% |
| Recurring financial income | 75 | €1,050 | €993 | -€57 | -5.5% |
| Financial charges | 65/66B | €1,608 | €2,398 | +€789 | +49.1% |
| Recurring financial charges | 65 | €1,608 | €2,398 | +€789 | +49.1% |
| Profit (loss) for the period before taxes | 9903 | €64,664 | €31,634 | -€33,031 | -51.1% |
| Income taxes | 67/77 | €17,266 | €9,103 | -€8,164 | -47.3% |
| Profit (loss) for the period | 9904 | €47,398 | €22,531 | -€24,867 | -52.5% |
| Profit (loss) for the period to be appropriated | 9905 | €47,398 | €22,531 | -€24,867 | -52.5% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.