LEFEBRE W: 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.
LEFEBRE W
Largest movements
- Cash -€68,505
down €68,505 (-54.5%), from €125,798 to €57,293
mainly Contributions, distributions and other (-€65,000) and Trade debts (-€41,181)
- Receivables within one year +€9,194
up €9,194 (+32.1%), from €28,639 to €37,833
of which Trade receivables: +€6,159
- Tangible fixed assets +€6,598
up €6,598 (+7.9%), from €83,905 to €90,502
of which Other tangible fixed assets: +€21,209
- Trade debts -€41,181
down €41,181 (-95.7%), from €43,041 to €1,861
- Debts after one year -€8,662
down €8,662 (-21.6%), from €40,134 to €31,472
- Depreciation +€8,136
up €8,136 (+79.1%), from €10,285 to €18,421
- Gross operating margin -€3,943
down €3,943 (-4.5%), from €86,920 to €82,977
- Financial income +€1,492
up €1,492 (+1842.2%), from €81 to €1,573
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 | €240,874 | €189,198 | -€51,676 | -21.5% |
| Fixed assets | 21/28 | €84,155 | €90,752 | +€6,598 | +7.8% |
| Tangible fixed assets | 22/27 | €83,905 | €90,502 | +€6,598 | +7.9% |
| Land and buildings | 22 | €561 | €561 | = | 0.0% |
| Plant, machinery and equipment | 23 | €2,030 | €1,576 | -€454 | -22.4% |
| Furniture and vehicles | 24 | €3,016 | €2,242 | -€774 | -25.7% |
| Leasing and similar rights | 25 | €58,325 | €44,942 | -€13,384 | -22.9% |
| Other tangible fixed assets | 26 | €19,972 | €41,181 | +€21,209 | +106.2% |
| Financial fixed assets | 28 | €250 | €250 | = | 0.0% |
| Current assets | 29/58 | €156,719 | €98,445 | -€58,274 | -37.2% |
| Amounts receivable within one year | 40/41 | €28,639 | €37,833 | +€9,194 | +32.1% |
| Trade receivables | 40 | €22,076 | €28,235 | +€6,159 | +27.9% |
| Other amounts receivable | 41 | €6,563 | €9,598 | +€3,035 | +46.2% |
| Cash at bank and in hand | 54/58 | €125,798 | €57,293 | -€68,505 | -54.5% |
| Deferred charges and accrued income | 490/1 | €2,282 | €3,320 | +€1,037 | +45.4% |
| Total equity and liabilities | 10/49 | €240,874 | €189,198 | -€51,676 | -21.5% |
| Equity | 10/15 | €133,857 | €132,045 | -€1,812 | -1.4% |
| Contributions | 10/11 | €62,000 | €62,000 | = | 0.0% |
| Capital | 10 | €62,000 | €62,000 | = | 0.0% |
| Issued capital | 100 | €62,000 | €62,000 | = | 0.0% |
| Reserves | 13 | €22,854 | €23,005 | +€150 | +0.7% |
| Non-distributable reserves | 130/1 | €6,050 | €6,200 | +€150 | +2.5% |
| Legal reserve | 130 | €6,050 | €6,200 | +€150 | +2.5% |
| Distributable reserves | 133 | €16,805 | €16,805 | = | 0.0% |
| Profit (loss) carried forward | 14 | €49,003 | €47,040 | -€1,963 | -4.0% |
| Amounts payable | 17/49 | €107,017 | €57,153 | -€49,864 | -46.6% |
| Amounts payable after more than one year | 17 | €40,134 | €31,472 | -€8,662 | -21.6% |
| Financial debts | 170/4 | €40,134 | €31,472 | -€8,662 | -21.6% |
| Amounts payable within one year | 42/48 | €66,658 | €25,456 | -€41,202 | -61.8% |
| Current portion of amounts payable after more than one year | 42 | €8,523 | €8,662 | +€139 | +1.6% |
| Financial debts | 43 | €78 | €0 | -€78 | -100.0% |
| Credit institutions | 430/8 | €78 | €0 | -€78 | -100.0% |
| Trade debts | 44 | €43,041 | €1,861 | -€41,181 | -95.7% |
| Suppliers | 440/4 | €43,041 | €1,861 | -€41,181 | -95.7% |
| Taxes, remuneration and social security | 45 | €15,016 | €14,934 | -€82 | -0.5% |
| Taxes | 450/3 | €11,830 | €11,748 | -€82 | -0.7% |
| Remuneration and social security | 454/9 | €3,186 | €3,186 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €225 | €225 | = | 0.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,285 | €18,421 | +€8,136 | +79.1% |
| Other operating charges | 640/8 | €701 | €1,239 | +€538 | +76.7% |
| Gross operating margin | 9900 | €86,920 | €82,977 | -€3,943 | -4.5% |
| Operating profit (loss) | 9901 | €75,933 | €63,317 | -€12,616 | -16.6% |
| Financial income | 75/76B | €81 | €1,573 | +€1,492 | +1842.2% |
| Recurring financial income | 75 | €81 | €1,573 | +€1,492 | +1842.2% |
| Financial charges | 65/66B | €1,206 | €1,447 | +€241 | +20.0% |
| Recurring financial charges | 65 | €1,206 | €1,447 | +€241 | +20.0% |
| Profit (loss) for the period before taxes | 9903 | €74,809 | €63,443 | -€11,366 | -15.2% |
| Income taxes | 67/77 | €173 | €255 | +€82 | +47.7% |
| Profit (loss) for the period | 9904 | €74,636 | €63,188 | -€11,448 | -15.3% |
| Profit (loss) for the period to be appropriated | 9905 | €74,636 | €63,188 | -€11,448 | -15.3% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.