LEFKOR: 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.
LEFKOR
Largest movements
- Tangible fixed assets -€65,738
down €65,738 (-1.5%), from €4.2m to €4.2m
- Debts after one year +€309,325
up €309,325 (+36.1%), from €857,143 to €1.2m
- Other debts -€297,217
down €297,217 (-83.7%), from €355,175 to €57,958
- Trade debts -€104,498
down €104,498 (-81.6%), from €128,075 to €23,576
- Profit (loss) carried forward -€86,768
new in 2025: -€86,768
- Current portion of long-term debt +€86,130
up €86,130 (+60.3%), from €142,857 to €228,987
- Gross operating margin +€147,656
up €147,656 (+26.0%), from €567,526 to €715,182
- Depreciation +€78,391
up €78,391 (+15.8%), from €495,920 to €574,311
- Financial charges +€21,041
up €21,041 (+72.1%), from €29,164 to €50,205
- Taxes -€10,337
no longer reported in 2025 (was €10,337)
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 | €4,312,000 | €4,218,698 | -€93,302 | -2.2% |
| Fixed assets | 21/28 | €4,247,759 | €4,182,021 | -€65,738 | -1.5% |
| Tangible fixed assets | 22/27 | €4,247,759 | €4,182,021 | -€65,738 | -1.5% |
| Other tangible fixed assets | 26 | €4,247,759 | €4,182,021 | -€65,738 | -1.5% |
| Current assets | 29/58 | €64,241 | €36,677 | -€27,564 | -42.9% |
| Amounts receivable within one year | 40/41 | €54,740 | €30,050 | -€24,690 | -45.1% |
| Trade receivables | 40 | €25,364 | €10,887 | -€14,477 | -57.1% |
| Other amounts receivable | 41 | €29,375 | €19,163 | -€10,213 | -34.8% |
| Cash at bank and in hand | 54/58 | €9,501 | €6,627 | -€2,874 | -30.3% |
| Total equity and liabilities | 10/49 | €4,312,000 | €4,218,698 | -€93,302 | -2.2% |
| Equity | 10/15 | €2,826,442 | €2,739,673 | -€86,768 | -3.1% |
| Contributions | 10/11 | €1,495,787 | €1,495,787 | = | 0.0% |
| Capital | 10 | €1,495,787 | €1,495,787 | = | 0.0% |
| Issued capital | 100 | €1,495,787 | €1,495,787 | = | 0.0% |
| Reserves | 13 | €1,330,655 | €1,330,655 | = | 0.0% |
| Non-distributable reserves | 130/1 | €149,579 | €149,579 | = | 0.0% |
| Legal reserve | 130 | €149,579 | €149,579 | = | 0.0% |
| Distributable reserves | 133 | €1,181,076 | €1,181,076 | = | 0.0% |
| Profit (loss) carried forward | 14 | - | -€86,768 | -€86,768 | |
| Amounts payable | 17/49 | €1,485,558 | €1,479,025 | -€6,534 | -0.4% |
| Amounts payable after more than one year | 17 | €857,143 | €1,166,468 | +€309,325 | +36.1% |
| Financial debts | 170/4 | €857,143 | €1,166,468 | +€309,325 | +36.1% |
| Amounts payable within one year | 42/48 | €626,107 | €311,001 | -€315,106 | -50.3% |
| Current portion of amounts payable after more than one year | 42 | €142,857 | €228,987 | +€86,130 | +60.3% |
| Trade debts | 44 | €128,075 | €23,576 | -€104,498 | -81.6% |
| Suppliers | 440/4 | €128,075 | €23,576 | -€104,498 | -81.6% |
| Taxes, remuneration and social security | 45 | - | €479 | +€479 | |
| Taxes | 450/3 | - | €479 | +€479 | |
| Other amounts payable | 47/48 | €355,175 | €57,958 | -€297,217 | -83.7% |
| Accrued charges and deferred income | 492/3 | €2,308 | €1,555 | -€753 | -32.6% |
| Non-recurring operating income | 76A | - | €112,360 | +€112,360 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €495,920 | €574,311 | +€78,391 | +15.8% |
| Other operating charges | 640/8 | €1,094 | €1,126 | +€33 | +3.0% |
| Non-recurring operating charges | 66A | - | €176,307 | +€176,307 | |
| Gross operating margin | 9900 | €567,526 | €715,182 | +€147,656 | +26.0% |
| Operating profit (loss) | 9901 | €70,513 | -€36,563 | -€107,076 | |
| Financial charges | 65/66B | €29,164 | €50,205 | +€21,041 | +72.1% |
| Recurring financial charges | 65 | €29,164 | €50,205 | +€21,041 | +72.1% |
| Profit (loss) for the period before taxes | 9903 | €41,349 | -€86,768 | -€128,117 | |
| Income taxes | 67/77 | €10,337 | - | -€10,337 | |
| Profit (loss) for the period | 9904 | €31,012 | -€86,768 | -€117,780 | |
| Profit (loss) for the period to be appropriated | 9905 | €31,012 | -€86,768 | -€117,780 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.