LEFEBRE-HOLVOET: 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-HOLVOET
Largest movements
- Receivables within one year -€20,525
down €20,525 (-52.9%), from €38,779 to €18,254
of which Trade receivables: -€21,120
- Cash -€19,133
down €19,133 (-5.1%), from €373,384 to €354,251
mainly Other debts (-€22,489) and Net result for the year (-€14,959)
- Stocks and contracts -€5,590
no longer reported in 2025 (was €5,590)
- Other debts -€22,489
down €22,489 (-63.2%), from €35,568 to €13,079
- Reserves -€14,959
down €14,959 (-4.3%), from €351,958 to €336,999
- Tax, wage and social debts -€4,326
down €4,326 (-58.3%), from €7,423 to €3,097
- Gross operating margin -€23,829
down €23,829, from €9,068 to -€14,760
- Financial income -€10,969
down €10,969 (-83.8%), from €13,083 to €2,114
- Taxes -€5,501
no longer reported in 2025 (was €5,501)
- Depreciation -€232
down €232 (-27.4%), from €847 to €615
- Financial charges +€189
up €189 (+21.0%), from €899 to €1,088
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 | €419,044 | €373,529 | -€45,515 | -10.9% |
| Fixed assets | 21/28 | €896 | €280 | -€615 | -68.7% |
| Tangible fixed assets | 22/27 | €896 | €280 | -€615 | -68.7% |
| Plant, machinery and equipment | 23 | €896 | €280 | -€615 | -68.7% |
| Current assets | 29/58 | €418,148 | €373,249 | -€44,899 | -10.7% |
| Stocks and contracts in progress | 3 | €5,590 | - | -€5,590 | |
| Stocks | 30/36 | €5,590 | - | -€5,590 | |
| Amounts receivable within one year | 40/41 | €38,779 | €18,254 | -€20,525 | -52.9% |
| Trade receivables | 40 | €37,823 | €16,703 | -€21,120 | -55.8% |
| Other amounts receivable | 41 | €956 | €1,551 | +€595 | +62.2% |
| Cash at bank and in hand | 54/58 | €373,384 | €354,251 | -€19,133 | -5.1% |
| Deferred charges and accrued income | 490/1 | €395 | €743 | +€349 | +88.3% |
| Total equity and liabilities | 10/49 | €419,044 | €373,529 | -€45,515 | -10.9% |
| Equity | 10/15 | €367,240 | €352,281 | -€14,959 | -4.1% |
| Contributions | 10/11 | €15,282 | €15,282 | = | 0.0% |
| Reserves | 13 | €351,958 | €336,999 | -€14,959 | -4.3% |
| Distributable reserves | 133 | €351,958 | €336,999 | -€14,959 | -4.3% |
| Amounts payable | 17/49 | €51,803 | €21,248 | -€30,555 | -59.0% |
| Amounts payable within one year | 42/48 | €47,230 | €16,786 | -€30,444 | -64.5% |
| Trade debts | 44 | €4,239 | €610 | -€3,629 | -85.6% |
| Suppliers | 440/4 | €4,239 | €610 | -€3,629 | -85.6% |
| Taxes, remuneration and social security | 45 | €7,423 | €3,097 | -€4,326 | -58.3% |
| Taxes | 450/3 | €7,423 | €3,097 | -€4,326 | -58.3% |
| Other amounts payable | 47/48 | €35,568 | €13,079 | -€22,489 | -63.2% |
| Accrued charges and deferred income | 492/3 | €4,574 | €4,462 | -€112 | -2.4% |
| Non-recurring operating income | 76A | - | €6,470 | +€6,470 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €847 | €615 | -€232 | -27.4% |
| Other operating charges | 640/8 | €595 | €610 | +€14 | +2.4% |
| Gross operating margin | 9900 | €9,068 | -€14,760 | -€23,829 | |
| Operating profit (loss) | 9901 | €7,626 | -€15,985 | -€23,611 | |
| Financial income | 75/76B | €13,083 | €2,114 | -€10,969 | -83.8% |
| Recurring financial income | 75 | €13,083 | €2,114 | -€10,969 | -83.8% |
| Financial charges | 65/66B | €899 | €1,088 | +€189 | +21.0% |
| Recurring financial charges | 65 | €899 | €1,088 | +€189 | +21.0% |
| Profit (loss) for the period before taxes | 9903 | €19,810 | -€14,959 | -€34,769 | |
| Income taxes | 67/77 | €5,501 | - | -€5,501 | |
| Profit (loss) for the period | 9904 | €14,309 | -€14,959 | -€29,268 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,309 | -€14,959 | -€29,268 |
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 26 October 2026 via checked.be.