LECRY MICHAEL: 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.
LECRY MICHAEL
Largest movements
- Receivables within one year -€208,853
down €208,853 (-44.3%), from €471,978 to €263,126
of which Trade receivables: -€132,626
- Stocks and contracts -€148,414
down €148,414 (-45.2%), from €328,297 to €179,883
- Deferred charges and accrued income -€46,533
down €46,533 (-98.9%), from €47,060 to €528
- Cash -€38,332
down €38,332 (-37.5%), from €102,247 to €63,914
mainly Net result for the year (-€259,714) and Tax, wage and social debts (-€198,322)
- Profit (loss) carried forward -€259,714
down €259,714, from €167,560 to -€92,155
- Tax, wage and social debts -€198,322
down €198,322 (-63.2%), from €313,635 to €115,313
of which Remuneration and social security: -€111,932
- Other debts +€116,856
up €116,856 (+283.9%), from €41,160 to €158,016
- Current portion of long-term debt -€42,053
down €42,053 (-59.5%), from €70,668 to €28,615
- Short-term financial debts -€29,979
down €29,979 (-23.1%), from €130,000 to €100,021
- Purchases and services -€728,307
no longer reported in 2025 (was €728,307)
- Gross operating margin -€208,681
down €208,681 (-34.5%), from €604,019 to €395,338
- Staff costs +€74,984
up €74,984 (+15.3%), from €488,680 to €563,664
- Taxes -€25,327
down €25,327 (-81.8%), from €30,946 to €5,619
- Write-downs +€11,151
up €11,151 (+164.1%), from €6,796 to €17,947
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 | €1,095,565 | €642,584 | -€452,980 | -41.3% |
| Fixed assets | 21/28 | €145,982 | €135,134 | -€10,849 | -7.4% |
| Tangible fixed assets | 22/27 | €130,284 | €119,436 | -€10,849 | -8.3% |
| Plant, machinery and equipment | 23 | €97,287 | €80,723 | -€16,564 | -17.0% |
| Furniture and vehicles | 24 | €32,998 | €29,581 | -€3,417 | -10.4% |
| Leasing and similar rights | 25 | - | €9,132 | +€9,132 | |
| Other tangible fixed assets | 26 | €0 | - | = | |
| Financial fixed assets | 28 | €15,698 | €15,698 | = | 0.0% |
| Current assets | 29/58 | €949,582 | €507,451 | -€442,132 | -46.6% |
| Stocks and contracts in progress | 3 | €328,297 | €179,883 | -€148,414 | -45.2% |
| Stocks | 30/36 | €328,297 | €179,883 | -€148,414 | -45.2% |
| Amounts receivable within one year | 40/41 | €471,978 | €263,126 | -€208,853 | -44.3% |
| Trade receivables | 40 | €304,664 | €172,038 | -€132,626 | -43.5% |
| Other amounts receivable | 41 | €167,314 | €91,087 | -€76,227 | -45.6% |
| Cash at bank and in hand | 54/58 | €102,247 | €63,914 | -€38,332 | -37.5% |
| Deferred charges and accrued income | 490/1 | €47,060 | €528 | -€46,533 | -98.9% |
| Total equity and liabilities | 10/49 | €1,095,565 | €642,584 | -€452,980 | -41.3% |
| Equity | 10/15 | €309,332 | €49,618 | -€259,714 | -84.0% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €129,373 | €129,373 | = | 0.0% |
| Distributable reserves | 133 | €129,373 | €129,373 | = | 0.0% |
| Profit (loss) carried forward | 14 | €167,560 | -€92,155 | -€259,714 | |
| Amounts payable | 17/49 | €786,232 | €592,966 | -€193,266 | -24.6% |
| Amounts payable after more than one year | 17 | €29,702 | - | -€29,702 | |
| Financial debts | 170/4 | €29,702 | - | -€29,702 | |
| Amounts payable within one year | 42/48 | €755,570 | €592,594 | -€162,976 | -21.6% |
| Current portion of amounts payable after more than one year | 42 | €70,668 | €28,615 | -€42,053 | -59.5% |
| Financial debts | 43 | €130,000 | €100,021 | -€29,979 | -23.1% |
| Credit institutions | 430/8 | €130,000 | €100,021 | -€29,979 | -23.1% |
| Trade debts | 44 | €200,108 | €190,630 | -€9,479 | -4.7% |
| Suppliers | 440/4 | €200,108 | €190,630 | -€9,479 | -4.7% |
| Taxes, remuneration and social security | 45 | €313,635 | €115,313 | -€198,322 | -63.2% |
| Taxes | 450/3 | €141,757 | €55,366 | -€86,390 | -60.9% |
| Remuneration and social security | 454/9 | €171,878 | €59,946 | -€111,932 | -65.1% |
| Other amounts payable | 47/48 | €41,160 | €158,016 | +€116,856 | +283.9% |
| Accrued charges and deferred income | 492/3 | €960 | €372 | -€588 | -61.2% |
| Goods, raw materials, services and sundry goods | 60/61 | €728,307 | - | -€728,307 | |
| Remuneration, social security and pensions | 62 | €488,680 | €563,664 | +€74,984 | +15.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,168 | €30,313 | +€1,144 | +3.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €6,796 | €17,947 | +€11,151 | +164.1% |
| Other operating charges | 640/8 | €10,324 | €4,097 | -€6,227 | -60.3% |
| Non-recurring operating charges | 66A | €0 | €99 | +€99 | |
| Gross operating margin | 9900 | €604,019 | €395,338 | -€208,681 | -34.5% |
| Operating profit (loss) | 9901 | €69,051 | -€220,783 | -€289,834 | |
| Financial income | 75/76B | €7,061 | €1,109 | -€5,952 | -84.3% |
| Recurring financial income | 75 | €7,061 | €1,109 | -€5,952 | -84.3% |
| Financial charges | 65/66B | €36,491 | €34,422 | -€2,069 | -5.7% |
| Recurring financial charges | 65 | €36,491 | €22,388 | -€14,104 | -38.6% |
| Non-recurring financial charges | 66B | - | €12,034 | +€12,034 | |
| Profit (loss) for the period before taxes | 9903 | €39,621 | -€254,096 | -€293,716 | |
| Income taxes | 67/77 | €30,946 | €5,619 | -€25,327 | -81.8% |
| Profit (loss) for the period | 9904 | €8,675 | -€259,714 | -€268,389 | |
| Profit (loss) for the period to be appropriated | 9905 | €8,675 | -€259,714 | -€268,389 |
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 11 October 2026 via checked.be.