LEFSAB: 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.
LEFSAB
Largest movements
- Receivables within one year -€147,364
down €147,364 (-52.4%), from €281,096 to €133,732
of which Other amounts receivable: -€145,907
- Trade debts -€335,897
down €335,897 (-99.8%), from €336,415 to €518
- Other debts +€240,756
up €240,756 (+159.1%), from €151,286 to €392,043
- Profit (loss) carried forward -€39,862
down €39,862 (-8.9%), from -€448,102 to -€487,963
- Tax, wage and social debts -€13,967
down €13,967 (-100.0%), from €13,967 to €0
- Financial income -€61,970
down €61,970 (-92.9%), from €66,696 to €4,726
of which Non-recurring financial income: -€66,696
- Financial charges +€33,383
up €33,383 (+3579.4%), from €933 to €34,316
- Gross operating margin +€4,631
up €4,631 (+32.5%), from -€14,230 to -€9,599
- Staff costs -€784
new in 2025: -€784
- Other operating charges +€665
up €665 (+84.0%), from €792 to €1,457
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 | €287,566 | €138,597 | -€148,969 | -51.8% |
| Current assets | 29/58 | €287,566 | €138,597 | -€148,969 | -51.8% |
| Amounts receivable within one year | 40/41 | €281,096 | €133,732 | -€147,364 | -52.4% |
| Trade receivables | 40 | €3,608 | €2,151 | -€1,457 | -40.4% |
| Other amounts receivable | 41 | €277,488 | €131,581 | -€145,907 | -52.6% |
| Cash at bank and in hand | 54/58 | €6,350 | €4,865 | -€1,484 | -23.4% |
| Deferred charges and accrued income | 490/1 | €120 | €0 | -€120 | -100.0% |
| Total equity and liabilities | 10/49 | €287,566 | €138,597 | -€148,969 | -51.8% |
| Equity | 10/15 | -€214,102 | -€253,963 | -€39,862 | -18.6% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Capital | 10 | €100,000 | €100,000 | = | 0.0% |
| Issued capital | 100 | €100,000 | €100,000 | = | 0.0% |
| Reserves | 13 | €134,000 | €134,000 | = | 0.0% |
| Non-distributable reserves | 130/1 | €10,000 | €10,000 | = | 0.0% |
| Legal reserve | 130 | €10,000 | €10,000 | = | 0.0% |
| Distributable reserves | 133 | €124,000 | €124,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€448,102 | -€487,963 | -€39,862 | -8.9% |
| Amounts payable | 17/49 | €501,668 | €392,561 | -€109,107 | -21.7% |
| Amounts payable within one year | 42/48 | €501,668 | €392,561 | -€109,107 | -21.7% |
| Trade debts | 44 | €336,415 | €518 | -€335,897 | -99.8% |
| Suppliers | 440/4 | €336,415 | €518 | -€335,897 | -99.8% |
| Taxes, remuneration and social security | 45 | €13,967 | €0 | -€13,967 | -100.0% |
| Taxes | 450/3 | €13,967 | €0 | -€13,967 | -100.0% |
| Other amounts payable | 47/48 | €151,286 | €392,043 | +€240,756 | +159.1% |
| Remuneration, social security and pensions | 62 | - | -€784 | -€784 | |
| Other operating charges | 640/8 | €792 | €1,457 | +€665 | +84.0% |
| Gross operating margin | 9900 | -€14,230 | -€9,599 | +€4,631 | +32.5% |
| Operating profit (loss) | 9901 | -€15,022 | -€10,272 | +€4,750 | +31.6% |
| Financial income | 75/76B | €66,696 | €4,726 | -€61,970 | -92.9% |
| Recurring financial income | 75 | €66,696 | €4,726 | -€61,970 | -92.9% |
| Non-recurring financial income | 76B | €66,696 | €0 | -€66,696 | -100.0% |
| Financial charges | 65/66B | €933 | €34,316 | +€33,383 | +3579.4% |
| Recurring financial charges | 65 | €933 | €34,316 | +€33,383 | +3579.4% |
| Profit (loss) for the period before taxes | 9903 | €50,741 | -€39,862 | -€90,603 | |
| Profit (loss) for the period | 9904 | €50,741 | -€39,862 | -€90,603 | |
| Transfer from tax-exempt reserves | 789 | €74,760 | €0 | -€74,760 | -100.0% |
| Profit (loss) for the period to be appropriated | 9905 | €125,501 | -€39,862 | -€165,363 |
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 10 October 2026 via checked.be.