LEFEVRE - DE SAEGER: 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.
LEFEVRE - DE SAEGER
Largest movements
- Receivables within one year +€289,043
up €289,043 (+2,612%), from €11,067 to €300,110
- Current investments -€149,792
down €149,792 (-8.3%), from €1.8m to €1.7m
- Reserves +€60,066
up €60,066 (+2.5%), from €2.4m to €2.4m
- Other debts +€57,735
up €57,735 (+126%), from €45,985 to €103,720
- Gross operating margin +€112,823
up €112,823 (+29.6%), from €381,333 to €494,157
- Taxes +€22,566
up €22,566 (+26.7%), from €84,664 to €107,230
- Depreciation -€9,359
down €9,359 (-11.7%), from €79,888 to €70,529
- Staff costs -€4,996
down €4,996 (-6.9%), from €72,861 to €67,865
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 | €2,506,184 | €2,643,947 | +€137,763 | +5.5% |
| Fixed assets | 21/28 | €563,528 | €542,387 | -€21,141 | -3.8% |
| Tangible fixed assets | 22/27 | €563,528 | €542,387 | -€21,141 | -3.8% |
| Land and buildings | 22 | €475,160 | €444,057 | -€31,103 | -6.5% |
| Plant, machinery and equipment | 23 | €50,137 | €83,068 | +€32,931 | +65.7% |
| Furniture and vehicles | 24 | €38,231 | €15,262 | -€22,969 | -60.1% |
| Current assets | 29/58 | €1,942,656 | €2,101,560 | +€158,904 | +8.2% |
| Stocks and contracts in progress | 3 | €2,888 | €3,852 | +€964 | +33.4% |
| Stocks | 30/36 | €2,888 | €3,852 | +€964 | +33.4% |
| Amounts receivable within one year | 40/41 | €11,067 | €300,110 | +€289,043 | +2,612% |
| Other amounts receivable | 41 | €11,067 | €300,110 | +€289,043 | +2,612% |
| Current investments | 50/53 | €1,802,687 | €1,652,895 | -€149,792 | -8.3% |
| Cash at bank and in hand | 54/58 | €126,014 | €144,703 | +€18,689 | +14.8% |
| Total equity and liabilities | 10/49 | €2,506,184 | €2,643,947 | +€137,763 | +5.5% |
| Equity | 10/15 | €2,375,846 | €2,435,912 | +€60,066 | +2.5% |
| Reserves | 13 | €2,375,846 | €2,435,912 | +€60,066 | +2.5% |
| Distributable reserves | 133 | €2,375,846 | €2,435,912 | +€60,066 | +2.5% |
| Amounts payable | 17/49 | €130,338 | €208,036 | +€77,698 | +59.6% |
| Amounts payable within one year | 42/48 | €130,338 | €208,036 | +€77,698 | +59.6% |
| Trade debts | 44 | €57,133 | €62,193 | +€5,060 | +8.9% |
| Suppliers | 440/4 | €57,133 | €62,193 | +€5,060 | +8.9% |
| Taxes, remuneration and social security | 45 | €27,221 | €42,123 | +€14,902 | +54.7% |
| Taxes | 450/3 | - | €37,123 | +€37,123 | |
| Remuneration and social security | 454/9 | €27,221 | €5,000 | -€22,221 | -81.6% |
| Other amounts payable | 47/48 | €45,985 | €103,720 | +€57,735 | +126% |
| Non-recurring operating income | 76A | €5,150 | - | -€5,150 | |
| Remuneration, social security and pensions | 62 | €72,861 | €67,865 | -€4,996 | -6.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,888 | €70,529 | -€9,359 | -11.7% |
| Other operating charges | 640/8 | €7,313 | €11,770 | +€4,457 | +60.9% |
| Non-recurring operating charges | 66A | - | €1,324 | +€1,324 | |
| Gross operating margin | 9900 | €381,333 | €494,157 | +€112,823 | +29.6% |
| Operating profit (loss) | 9901 | €221,271 | €342,669 | +€121,398 | +54.9% |
| Financial income | 75/76B | €5,914 | €7,160 | +€1,246 | +21.1% |
| Recurring financial income | 75 | €5,914 | €7,160 | +€1,246 | +21.1% |
| Financial charges | 65/66B | €4,226 | €4,485 | +€259 | +6.1% |
| Recurring financial charges | 65 | €4,226 | €4,485 | +€259 | +6.1% |
| Profit (loss) for the period before taxes | 9903 | €222,958 | €345,343 | +€122,385 | +54.9% |
| Income taxes | 67/77 | €84,664 | €107,230 | +€22,566 | +26.7% |
| Profit (loss) for the period | 9904 | €138,294 | €238,113 | +€99,819 | +72.2% |
| Profit (loss) for the period to be appropriated | 9905 | €138,294 | €238,113 | +€99,819 | +72.2% |
Source: filed annual accounts (NBB), financial years ended 30 November 2024 and 30 November 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.