Legeco: 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.
Legeco
Largest movements
- Stocks and contracts +€590,445
up €590,445 (+322%), from €183,617 to €774,062
- Cash -€310,675
down €310,675 (-91.5%), from €339,444 to €28,769
mainly Stocks and contracts (-€590,445) and Net result for the year (-€103,265)
- Tangible fixed assets -€33,366
down €33,366 (-5.3%), from €631,459 to €598,093
of which Land and buildings: -€18,709
- Short-term financial debts +€453,157
up €453,157 (+152%), from €297,329 to €750,485
of which Credit institutions: +€453,157
- Accrued charges and deferred income -€66,344
down €66,344 (-100%), from €66,344 to €0
- Debts after one year -€54,099
down €54,099 (-13.5%), from €399,933 to €345,834
- Reserves -€51,834
down €51,834 (-36.3%), from €142,743 to €90,909
- Profit (loss) carried forward -€51,431
down €51,431, from €0 to -€51,431
- Gross operating margin -€310,564
down €310,564, from €269,253 to -€41,311
- Taxes -€66,383
down €66,383 (-99.5%), from €66,724 to €341
- Depreciation -€32,856
down €32,856 (-51.3%), from €64,003 to €31,147
- Financial charges -€8,428
down €8,428 (-24.2%), from €34,881 to €26,453
- Other operating charges -€5,079
down €5,079 (-53.2%), from €9,547 to €4,468
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 | €1,168,816 | €1,407,527 | +€238,711 | +20.4% |
| Fixed assets | 21/28 | €632,134 | €598,888 | -€33,246 | -5.3% |
| Tangible fixed assets | 22/27 | €631,459 | €598,093 | -€33,366 | -5.3% |
| Land and buildings | 22 | €581,589 | €562,880 | -€18,709 | -3.2% |
| Plant, machinery and equipment | 23 | €8,023 | €6,417 | -€1,606 | -20.0% |
| Furniture and vehicles | 24 | €41,847 | €28,796 | -€13,050 | -31.2% |
| Financial fixed assets | 28 | €675 | €795 | +€120 | +17.8% |
| Current assets | 29/58 | €536,682 | €808,640 | +€271,957 | +50.7% |
| Stocks and contracts in progress | 3 | €183,617 | €774,062 | +€590,445 | +322% |
| Stocks | 30/36 | €183,617 | €774,062 | +€590,445 | +322% |
| Amounts receivable within one year | 40/41 | €9,903 | €2,458 | -€7,445 | -75.2% |
| Other amounts receivable | 41 | €9,903 | €2,458 | -€7,445 | -75.2% |
| Cash at bank and in hand | 54/58 | €339,444 | €28,769 | -€310,675 | -91.5% |
| Deferred charges and accrued income | 490/1 | €3,719 | €3,351 | -€368 | -9.9% |
| Total equity and liabilities | 10/49 | €1,168,816 | €1,407,527 | +€238,711 | +20.4% |
| Equity | 10/15 | €143,843 | €40,578 | -€103,265 | -71.8% |
| Contributions | 10/11 | €1,100 | €1,100 | = | 0.0% |
| Reserves | 13 | €142,743 | €90,909 | -€51,834 | -36.3% |
| Distributable reserves | 133 | €142,743 | €90,909 | -€51,834 | -36.3% |
| Profit (loss) carried forward | 14 | €0 | -€51,431 | -€51,431 | |
| Amounts payable | 17/49 | €1,024,973 | €1,366,950 | +€341,976 | +33.4% |
| Amounts payable after more than one year | 17 | €399,933 | €345,834 | -€54,099 | -13.5% |
| Financial debts | 170/4 | €399,933 | €345,834 | -€54,099 | -13.5% |
| Amounts payable within one year | 42/48 | €558,696 | €1,021,115 | +€462,419 | +82.8% |
| Current portion of amounts payable after more than one year | 42 | €52,987 | €54,099 | +€1,111 | +2.1% |
| Financial debts | 43 | €297,329 | €750,485 | +€453,157 | +152% |
| Credit institutions | 430/8 | €297,329 | €750,485 | +€453,157 | +152% |
| Other loans | 439 | €0 | - | = | |
| Trade debts | 44 | €3,631 | €1,796 | -€1,835 | -50.5% |
| Suppliers | 440/4 | €3,631 | €1,796 | -€1,835 | -50.5% |
| Taxes, remuneration and social security | 45 | €34,749 | €2,480 | -€32,269 | -92.9% |
| Taxes | 450/3 | €34,628 | €507 | -€34,121 | -98.5% |
| Remuneration and social security | 454/9 | €121 | €1,973 | +€1,852 | +1,532% |
| Other amounts payable | 47/48 | €170,000 | €212,255 | +€42,255 | +24.9% |
| Accrued charges and deferred income | 492/3 | €66,344 | €0 | -€66,344 | -100% |
| Non-recurring operating income | 76A | €275,767 | €1,271 | -€274,495 | -99.5% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €64,003 | €31,147 | -€32,856 | -51.3% |
| Other operating charges | 640/8 | €9,547 | €4,468 | -€5,079 | -53.2% |
| Non-recurring operating charges | 66A | €7,777 | €0 | -€7,777 | -100% |
| Gross operating margin | 9900 | €269,253 | -€41,311 | -€310,564 | |
| Operating profit (loss) | 9901 | €187,926 | -€76,927 | -€264,852 | |
| Financial income | 75/76B | €9 | €455 | +€446 | +5,003% |
| Recurring financial income | 75 | €9 | €455 | +€446 | +5,003% |
| Financial charges | 65/66B | €34,881 | €26,453 | -€8,428 | -24.2% |
| Recurring financial charges | 65 | €34,881 | €26,453 | -€8,428 | -24.2% |
| Profit (loss) for the period before taxes | 9903 | €153,054 | -€102,924 | -€255,978 | |
| Income taxes | 67/77 | €66,724 | €341 | -€66,383 | -99.5% |
| Profit (loss) for the period | 9904 | €86,329 | -€103,265 | -€189,594 | |
| Profit (loss) for the period to be appropriated | 9905 | €86,329 | -€103,265 | -€189,594 |
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 28 October 2026 via checked.be.