LEFEBVRE - FRASELLE: 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.
What changed
LEFEBVRE - FRASELLE
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€8,207
2024 · -€26,826+€18,619
Equity
€325,312
2024 · €333,519-€8,207
Cash
€355,576
2024 · €361,421-€5,846
Balance sheet total
€998,294
2024 · €1.3m-€251,809
Largest movements
Assets
- Financial fixed assets -€190,492
down €190,492 (-100%), from €190,492 to €0
- Tangible fixed assets -€29,025
down €29,025 (-4.4%), from €661,152 to €632,127
of which Land and buildings: -€28,502
- Receivables within one year -€25,489
down €25,489 (-70.8%), from €36,009 to €10,519
of which Other amounts receivable: -€24,499
Equity and liabilities
- Debts after one year -€301,647
down €301,647 (-36.9%), from €816,447 to €514,800
of which Other amounts payable: -€253,475
- Other debts +€53,475
new in 2025: €53,475
Income statement
- Other operating income +€8,537
up €8,537 (+880%), from €970 to €9,508
- Other operating charges -€7,889
down €7,889 (-67.3%), from €11,716 to €3,827
- Taxes -€4,114
down €4,114 (-100%), from €4,114 to €0
of which Taxes: -€3,576
- Services and other goods +€1,671
up €1,671 (+16.8%), from €9,951 to €11,622
- Depreciation +€1,199
up €1,199 (+3.6%), from €32,939 to €34,138
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.
Result 2024
-€26,826
Turnover
+€290
Other operating income
+€8,537
Services and other goods
-€1,671
Depreciation
-€1,199
Other operating charges
+€7,889
Financial income
-€50
Financial charges
+€709
Taxes
+€4,114
Result 2025
-€8,207
raises the resultlowers the result
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.
From operations
+€109,850
Investment
+€185,379
Financing
-€301,074
Cash 2024
€361,421
From operations (derived)
+€109,850
Net result for the year
-€8,207
Depreciation
+€34,138
Receivables within one year
+€25,489
Deferred charges and accrued income
+€957
Trade debts
+€3,523
Tax, wage and social debts
-€823
Other debts
+€53,475
Accrued charges and deferred income
+€1,298
Investment (derived)
+€185,379
Investment in fixed assets (net)
+€185,379
Financing
-€301,074
Debts after one year
-€301,647
Current portion of long-term debt
+€573
Cash 2025
€355,576
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,250,102 | €998,294 | -€251,809 | -20.1% |
| Formation expenses | 20 | €0 | - | = | |
| Fixed assets | 21/28 | €851,644 | €632,127 | -€219,517 | -25.8% |
| Tangible fixed assets | 22/27 | €661,152 | €632,127 | -€29,025 | -4.4% |
| Land and buildings | 22 | €659,088 | €630,586 | -€28,502 | -4.3% |
| Furniture and vehicles | 24 | €2,064 | €1,541 | -€523 | -25.3% |
| Financial fixed assets | 28 | €190,492 | €0 | -€190,492 | -100% |
| Affiliated companies | 280/1 | €190,492 | €0 | -€190,492 | -100% |
| Amounts receivable | 281 | €190,492 | €0 | -€190,492 | -100% |
| Current assets | 29/58 | €398,458 | €366,167 | -€32,292 | -8.1% |
| Stocks and contracts in progress | 3 | €0 | €0 | = | |
| Amounts receivable within one year | 40/41 | €36,009 | €10,519 | -€25,489 | -70.8% |
| Trade receivables | 40 | €10,065 | €9,075 | -€990 | -9.8% |
| Other amounts receivable | 41 | €25,944 | €1,444 | -€24,499 | -94.4% |
| Cash at bank and in hand | 54/58 | €361,421 | €355,576 | -€5,846 | -1.6% |
| Deferred charges and accrued income | 490/1 | €1,028 | €72 | -€957 | -93.0% |
| Total equity and liabilities | 10/49 | €1,250,102 | €998,294 | -€251,809 | -20.1% |
| Equity | 10/15 | €333,519 | €325,312 | -€8,207 | -2.5% |
| Contributions | 10/11 | €10,000 | €10,000 | = | 0.0% |
| Reserves | 13 | €323,000 | €315,000 | -€8,000 | -2.5% |
| Distributable reserves | 133 | €323,000 | €315,000 | -€8,000 | -2.5% |
| Profit (loss) carried forward | 14 | €519 | €312 | -€207 | -39.9% |
| Amounts payable | 17/49 | €916,583 | €672,982 | -€243,601 | -26.6% |
| Amounts payable after more than one year | 17 | €816,447 | €514,800 | -€301,647 | -36.9% |
| Financial debts | 170/4 | €562,973 | €514,800 | -€48,172 | -8.6% |
| Credit institutions | 173 | €562,973 | €514,800 | -€48,172 | -8.6% |
| Other amounts payable | 178/9 | €253,475 | €0 | -€253,475 | -100% |
| Amounts payable within one year | 42/48 | €100,136 | €156,884 | +€56,748 | +56.7% |
| Current portion of amounts payable after more than one year | 42 | €47,599 | €48,172 | +€573 | +1.2% |
| Trade debts | 44 | €50,931 | €54,455 | +€3,523 | +6.9% |
| Suppliers | 440/4 | €50,931 | €54,455 | +€3,523 | +6.9% |
| Taxes, remuneration and social security | 45 | €1,605 | €782 | -€823 | -51.3% |
| Taxes | 450/3 | €1,605 | €782 | -€823 | -51.3% |
| Other amounts payable | 47/48 | - | €53,475 | +€53,475 | |
| Accrued charges and deferred income | 492/3 | - | €1,298 | +€1,298 | |
| Operating income | 70/76A | €37,919 | €46,747 | +€8,828 | +23.3% |
| Turnover | 70 | €36,949 | €37,239 | +€290 | +0.8% |
| Other operating income | 74 | €970 | €9,508 | +€8,537 | +880% |
| Operating charges | 60/66A | €54,606 | €49,587 | -€5,019 | -9.2% |
| Services and other goods | 61 | €9,951 | €11,622 | +€1,671 | +16.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,939 | €34,138 | +€1,199 | +3.6% |
| Other operating charges | 640/8 | €11,716 | €3,827 | -€7,889 | -67.3% |
| Operating profit (loss) | 9901 | -€16,687 | -€2,840 | +€13,847 | +83.0% |
| Financial income | 75/76B | €1,841 | €1,791 | -€50 | -2.7% |
| Recurring financial income | 75 | €1,841 | €1,791 | -€50 | -2.7% |
| Income from current assets | 751 | €1,841 | €1,791 | -€50 | -2.7% |
| Financial charges | 65/66B | €7,867 | €7,157 | -€709 | -9.0% |
| Recurring financial charges | 65 | €7,867 | €7,157 | -€709 | -9.0% |
| Debt charges | 650 | €7,779 | €7,082 | -€697 | -9.0% |
| Other financial charges | 652/9 | €88 | €75 | -€13 | -14.4% |
| Profit (loss) for the period before taxes | 9903 | -€22,713 | -€8,207 | +€14,506 | +63.9% |
| Income taxes | 67/77 | €4,114 | €0 | -€4,114 | -100% |
| Taxes | 670/3 | €4,114 | €537 | -€3,576 | -86.9% |
| Tax adjustments and reversals of tax provisions | 77 | - | €537 | +€537 | |
| Profit (loss) for the period | 9904 | -€26,826 | -€8,207 | +€18,619 | +69.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€26,826 | -€8,207 | +€18,619 | +69.4% |
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 29 October 2026 via checked.be.