LEFEBRE: 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.
LEFEBRE
Largest movements
- Current investments -€1.3m
down €1.3m (-43.7%), from €3.0m to €1.7m
- Cash +€1.0m
up €1.0m (+942.5%), from €107,101 to €1.1m
mainly Current investments (+€1.3m) and Net result for the year (+€637,518)
- Stocks and contracts +€185,100
up €185,100 (+42.6%), from €434,900 to €620,000
- Tangible fixed assets +€141,929
up €141,929 (+4.9%), from €2.9m to €3.1m
of which Plant, machinery and equipment: +€146,538
- Trade debts -€649,505
down €649,505 (-54.5%), from €1.2m to €542,891
- Reserves +€637,518
up €637,518 (+15.3%), from €4.2m to €4.8m
of which Distributable reserves: +€442,688
- Gross operating margin -€609,186
down €609,186 (-26.5%), from €2.3m to €1.7m
- Depreciation +€218,683
up €218,683 (+55.3%), from €395,390 to €614,073
- Taxes -€205,139
down €205,139 (-58.9%), from €348,563 to €143,424
- Financial charges +€64,501
up €64,501 (+492.9%), from €13,087 to €77,587
- Financial income -€42,242
down €42,242 (-63.7%), from €66,286 to €24,044
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 | €6,663,242 | €6,675,818 | +€12,577 | +0.2% |
| Fixed assets | 21/28 | €2,914,010 | €3,055,939 | +€141,929 | +4.9% |
| Tangible fixed assets | 22/27 | €2,913,967 | €3,055,895 | +€141,929 | +4.9% |
| Land and buildings | 22 | €1,081,927 | €1,141,468 | +€59,541 | +5.5% |
| Plant, machinery and equipment | 23 | €1,669,964 | €1,816,503 | +€146,538 | +8.8% |
| Furniture and vehicles | 24 | €162,075 | €97,925 | -€64,150 | -39.6% |
| Financial fixed assets | 28 | €43 | €43 | = | 0.0% |
| Current assets | 29/58 | €3,749,232 | €3,619,879 | -€129,352 | -3.5% |
| Stocks and contracts in progress | 3 | €434,900 | €620,000 | +€185,100 | +42.6% |
| Stocks | 30/36 | €434,900 | €620,000 | +€185,100 | +42.6% |
| Amounts receivable within one year | 40/41 | €150,537 | €163,734 | +€13,197 | +8.8% |
| Trade receivables | 40 | €35,010 | €47,919 | +€12,908 | +36.9% |
| Other amounts receivable | 41 | €115,527 | €115,815 | +€288 | +0.2% |
| Current investments | 50/53 | €3,049,642 | €1,716,865 | -€1.3m | -43.7% |
| Cash at bank and in hand | 54/58 | €107,101 | €1,116,521 | +€1.0m | +942.5% |
| Deferred charges and accrued income | 490/1 | €7,051 | €2,759 | -€4,291 | -60.9% |
| Total equity and liabilities | 10/49 | €6,663,242 | €6,675,818 | +€12,577 | +0.2% |
| Equity | 10/15 | €5,171,464 | €5,808,982 | +€637,518 | +12.3% |
| Contributions | 10/11 | €1,002,330 | €1,002,330 | = | 0.0% |
| Capital | 10 | €1,002,330 | €1,002,330 | = | 0.0% |
| Issued capital | 100 | €1,002,330 | €1,002,330 | = | 0.0% |
| Reserves | 13 | €4,169,135 | €4,806,653 | +€637,518 | +15.3% |
| Non-distributable reserves | 130/1 | €100,233 | €100,233 | = | 0.0% |
| Legal reserve | 130 | €100,233 | €100,233 | = | 0.0% |
| Tax-exempt reserves | 132 | €275,640 | €470,470 | +€194,830 | +70.7% |
| Distributable reserves | 133 | €3,793,262 | €4,235,950 | +€442,688 | +11.7% |
| Profit (loss) carried forward | 14 | €0 | - | = | |
| Provisions and deferred taxes | 16 | €91,881 | €156,823 | +€64,942 | +70.7% |
| Deferred taxes | 168 | €91,881 | €156,823 | +€64,942 | +70.7% |
| Amounts payable | 17/49 | €1,399,897 | €710,013 | -€689,884 | -49.3% |
| Amounts payable within one year | 42/48 | €1,387,473 | €697,401 | -€690,072 | -49.7% |
| Trade debts | 44 | €1,192,396 | €542,891 | -€649,505 | -54.5% |
| Suppliers | 440/4 | €1,192,396 | €542,891 | -€649,505 | -54.5% |
| Taxes, remuneration and social security | 45 | €68,261 | €20,540 | -€47,721 | -69.9% |
| Taxes | 450/3 | €35,297 | €912 | -€34,386 | -97.4% |
| Remuneration and social security | 454/9 | €32,964 | €19,628 | -€13,335 | -40.5% |
| Other amounts payable | 47/48 | €126,816 | €133,971 | +€7,155 | +5.6% |
| Accrued charges and deferred income | 492/3 | €12,424 | €12,611 | +€187 | +1.5% |
| Remuneration, social security and pensions | 62 | €156,288 | €156,868 | +€580 | +0.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €395,390 | €614,073 | +€218,683 | +55.3% |
| Other operating charges | 640/8 | €20,199 | €23,524 | +€3,325 | +16.5% |
| Gross operating margin | 9900 | €2,303,080 | €1,693,893 | -€609,186 | -26.5% |
| Operating profit (loss) | 9901 | €1,731,202 | €899,428 | -€831,774 | -48.0% |
| Financial income | 75/76B | €66,286 | €24,044 | -€42,242 | -63.7% |
| Recurring financial income | 75 | €66,286 | €24,044 | -€42,242 | -63.7% |
| Financial charges | 65/66B | €13,087 | €77,587 | +€64,501 | +492.9% |
| Recurring financial charges | 65 | €13,087 | €77,587 | +€64,501 | +492.9% |
| Profit (loss) for the period before taxes | 9903 | €1,784,402 | €845,884 | -€938,517 | -52.6% |
| Transfer from deferred taxes | 780 | €7,650 | €18,808 | +€11,158 | +145.9% |
| Transfer to deferred taxes | 680 | €77,250 | €83,750 | +€6,500 | +8.4% |
| Income taxes | 67/77 | €348,563 | €143,424 | -€205,139 | -58.9% |
| Profit (loss) for the period | 9904 | €1,366,239 | €637,518 | -€728,721 | -53.3% |
| Transfer from tax-exempt reserves | 789 | €22,950 | €56,420 | +€33,470 | +145.8% |
| Transfer to tax-exempt reserves | 689 | €231,750 | €251,250 | +€19,500 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €1,157,439 | €442,688 | -€714,751 | -61.8% |
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 10 October 2026 via checked.be.