LEF INVEST: what changed
What changed
LEF INVEST
NACE 46.349, Wholesale of beverages, general range
filed annual accounts (NBB)
Net result for the year
€713,735
2024 · -€18,765+€732,500
Equity
€791,236
2024 · €77,501+€713,735
Cash
€293,249
2024 · €93,393+€199,856
Balance sheet total
€2.0m
2024 · €1.9m+€129,551
Largest movements
Assets
- Tangible fixed assets -€585,225
down €585,225 (-51.2%), from €1.1m to €558,030
of which Land and buildings: -€591,531
- Receivables within one year +€530,092
up €530,092 (+252%), from €210,505 to €740,597
of which Other amounts receivable: +€320,421
- Cash +€199,856
up €199,856 (+214%), from €93,393 to €293,249
mainly Net result for the year (+€713,735) and Investment in fixed assets (net) (+€562,820)
- Intangible fixed assets -€30,000
down €30,000 (-21.4%), from €140,411 to €110,411
- Deferred charges and accrued income +€26,432
up €26,432 (+440%), from €6,012 to €32,444
Equity and liabilities
- Debts after one year -€812,151
down €812,151 (-71.1%), from €1.1m to €330,805
- Reserves +€691,236
new in 2025: €691,236
of which Tax-exempt reserves: +€474,235
- Trade debts +€182,072
up €182,072 (+66.3%), from €274,602 to €456,673
- Current portion of long-term debt +€93,765
up €93,765 (+75.5%), from €124,149 to €217,914
- Other debts -€43,868
down €43,868 (-36.5%), from €120,045 to €76,177
Income statement
- Gross operating margin +€1.1m
up €1.1m (+736%), from €153,620 to €1.3m
- Taxes +€256,924
new in 2025: €256,924
- Financial charges +€63,878
up €63,878 (+94.5%), from €67,611 to €131,489
- Other operating charges +€63,107
up €63,107 (+539%), from €11,711 to €74,818
- Staff costs +€33,027
up €33,027 (+130%), from €25,411 to €58,437
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2024
-€18,765
Gross operating margin
+€1.1m
Staff costs
-€33,027
Depreciation
+€31,782
Write-downs
+€317
Other operating charges
-€63,107
Other operating items
-€9,183
Financial income
-€3,846
Financial charges
-€63,878
Taxes
-€256,924
Result 2025
€713,735
raises the resultlowers the resultnot broken down further in the accounts
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€390,422
Investment
+€562,820
Financing
-€753,386
Cash 2024
€93,393
From operations (derived)
+€390,422
Net result for the year
+€713,735
Depreciation
+€54,242
Stocks and contracts
+€9,768
Receivables within one year
-€530,092
Deferred charges and accrued income
-€26,432
Trade debts
+€182,072
Tax, wage and social debts
+€5,022
Advances received
+€24,488
Other debts
-€43,868
Accrued charges and deferred income
+€1,489
Investment (derived)
+€562,820
Investment in fixed assets (net)
+€562,820
Financing
-€753,386
Debts after one year
-€812,151
Current portion of long-term debt
+€93,765
Short-term financial debts
-€35,000
Cash 2025
€293,249
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,857,801 | €1,987,351 | +€129,551 | +7.0% |
| Formation expenses | 20 | €9,180 | €7,344 | -€1,836 | -20.0% |
| Fixed assets | 21/28 | €1,283,868 | €668,643 | -€615,225 | -47.9% |
| Intangible fixed assets | 21 | €140,411 | €110,411 | -€30,000 | -21.4% |
| Tangible fixed assets | 22/27 | €1,143,255 | €558,030 | -€585,225 | -51.2% |
| Land and buildings | 22 | €1,098,438 | €506,907 | -€591,531 | -53.9% |
| Plant, machinery and equipment | 23 | €22,336 | €29,149 | +€6,812 | +30.5% |
| Furniture and vehicles | 24 | €22,481 | €21,975 | -€507 | -2.3% |
| Financial fixed assets | 28 | €201 | €201 | = | 0.0% |
| Current assets | 29/58 | €564,753 | €1,311,365 | +€746,612 | +132% |
| Stocks and contracts in progress | 3 | €254,842 | €245,075 | -€9,768 | -3.8% |
| Stocks | 30/36 | €254,842 | €245,075 | -€9,768 | -3.8% |
| Amounts receivable within one year | 40/41 | €210,505 | €740,597 | +€530,092 | +252% |
| Trade receivables | 40 | €138,649 | €348,320 | +€209,670 | +151% |
| Other amounts receivable | 41 | €71,856 | €392,277 | +€320,421 | +446% |
| Cash at bank and in hand | 54/58 | €93,393 | €293,249 | +€199,856 | +214% |
| Deferred charges and accrued income | 490/1 | €6,012 | €32,444 | +€26,432 | +440% |
| Total equity and liabilities | 10/49 | €1,857,801 | €1,987,351 | +€129,551 | +7.0% |
| Equity | 10/15 | €77,501 | €791,236 | +€713,735 | +921% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | - | €691,236 | +€691,236 | |
| Tax-exempt reserves | 132 | - | €474,235 | +€474,235 | |
| Distributable reserves | 133 | - | €217,001 | +€217,001 | |
| Profit (loss) carried forward | 14 | -€22,499 | €0 | +€22,499 | |
| Amounts payable | 17/49 | €1,780,300 | €1,196,115 | -€584,185 | -32.8% |
| Amounts payable after more than one year | 17 | €1,142,956 | €330,805 | -€812,151 | -71.1% |
| Financial debts | 170/4 | €1,142,956 | €330,805 | -€812,151 | -71.1% |
| Amounts payable within one year | 42/48 | €631,608 | €858,085 | +€226,477 | +35.9% |
| Current portion of amounts payable after more than one year | 42 | €124,149 | €217,914 | +€93,765 | +75.5% |
| Financial debts | 43 | €100,000 | €65,000 | -€35,000 | -35.0% |
| Credit institutions | 430/8 | €100,000 | €65,000 | -€35,000 | -35.0% |
| Trade debts | 44 | €274,602 | €456,673 | +€182,072 | +66.3% |
| Suppliers | 440/4 | €274,602 | €456,673 | +€182,072 | +66.3% |
| Advances received on contracts in progress | 46 | €8,039 | €32,526 | +€24,488 | +305% |
| Taxes, remuneration and social security | 45 | €4,774 | €9,795 | +€5,022 | +105% |
| Taxes | 450/3 | €1,268 | €120 | -€1,148 | -90.5% |
| Remuneration and social security | 454/9 | €3,505 | €9,675 | +€6,169 | +176% |
| Other amounts payable | 47/48 | €120,045 | €76,177 | -€43,868 | -36.5% |
| Accrued charges and deferred income | 492/3 | €5,736 | €7,225 | +€1,489 | +26.0% |
| Non-recurring operating income | 76A | - | €1,551,563 | +€1.6m | |
| Remuneration, social security and pensions | 62 | €25,411 | €58,437 | +€33,027 | +130% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,023 | €54,242 | -€31,782 | -36.9% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €317 | €0 | -€317 | -100% |
| Other operating charges | 640/8 | €11,711 | €74,818 | +€63,107 | +539% |
| Operating charges capitalised as restructuring costs | 649 | -€9,183 | €0 | +€9,183 | |
| Gross operating margin | 9900 | €153,620 | €1,283,985 | +€1.1m | +736% |
| Operating profit (loss) | 9901 | €39,340 | €1,096,489 | +€1.1m | +2,687% |
| Financial income | 75/76B | €9,506 | €5,660 | -€3,846 | -40.5% |
| Recurring financial income | 75 | €9,506 | €5,660 | -€3,846 | -40.5% |
| Financial charges | 65/66B | €67,611 | €131,489 | +€63,878 | +94.5% |
| Recurring financial charges | 65 | €67,611 | €131,489 | +€63,878 | +94.5% |
| Profit (loss) for the period before taxes | 9903 | -€18,765 | €970,660 | +€989,424 | |
| Income taxes | 67/77 | - | €256,924 | +€256,924 | |
| Profit (loss) for the period | 9904 | -€18,765 | €713,735 | +€732,500 | |
| Transfer to tax-exempt reserves | 689 | - | €474,235 | +€474,235 | |
| Profit (loss) for the period to be appropriated | 9905 | -€18,765 | €239,500 | +€258,265 |
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.