LEGENDS GOLF: 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.
LEGENDS GOLF
Largest movements
- Receivables within one year -€34,155
down €34,155 (-78.8%), from €43,354 to €9,199
of which Trade receivables: -€21,433
- Cash -€8,297
down €8,297 (-65.7%), from €12,632 to €4,334
mainly Investment in fixed assets (net) (-€26,601) and Net result for the year (-€24,942)
- Profit (loss) carried forward -€24,942
down €24,942 (-40.0%), from €62,359 to €37,417
- Debts after one year -€24,303
down €24,303 (-5.6%), from €437,513 to €413,209
- Current portion of long-term debt +€18,814
up €18,814 (+78.2%), from €24,073 to €42,887
- Short-term financial debts -€12,582
down €12,582 (-15.0%), from €83,953 to €71,372
- Trade debts +€7,982
up €7,982 (+302.9%), from €2,635 to €10,617
- Gross operating margin -€31,436
down €31,436 (-61.7%), from €50,909 to €19,473
- Financial charges +€3,693
up €3,693 (+27.1%), from €13,631 to €17,323
- Depreciation +€3,521
up €3,521 (+20.4%), from €17,259 to €20,779
- Other operating charges +€1,627
up €1,627 (+91.4%), from €1,780 to €3,408
- Taxes -€837
down €837 (-21.2%), from €3,949 to €3,113
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 | €636,033 | €598,919 | -€37,115 | -5.8% |
| Fixed assets | 21/28 | €578,072 | €583,894 | +€5,822 | +1.0% |
| Tangible fixed assets | 22/27 | €578,072 | €583,894 | +€5,822 | +1.0% |
| Land and buildings | 22 | €552,441 | €543,337 | -€9,104 | -1.6% |
| Plant, machinery and equipment | 23 | €25,631 | €22,187 | -€3,444 | -13.4% |
| Furniture and vehicles | 24 | - | €18,370 | +€18,370 | |
| Current assets | 29/58 | €57,961 | €15,025 | -€42,936 | -74.1% |
| Amounts receivable within one year | 40/41 | €43,354 | €9,199 | -€34,155 | -78.8% |
| Trade receivables | 40 | €30,632 | €9,199 | -€21,433 | -70.0% |
| Other amounts receivable | 41 | €12,723 | - | -€12,723 | |
| Cash at bank and in hand | 54/58 | €12,632 | €4,334 | -€8,297 | -65.7% |
| Deferred charges and accrued income | 490/1 | €1,975 | €1,491 | -€484 | -24.5% |
| Total equity and liabilities | 10/49 | €636,033 | €598,919 | -€37,115 | -5.8% |
| Equity | 10/15 | €75,859 | €50,917 | -€24,942 | -32.9% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €1,100 | €1,100 | = | 0.0% |
| Distributable reserves | 133 | €1,100 | €1,100 | = | 0.0% |
| Profit (loss) carried forward | 14 | €62,359 | €37,417 | -€24,942 | -40.0% |
| Amounts payable | 17/49 | €560,174 | €548,002 | -€12,173 | -2.2% |
| Amounts payable after more than one year | 17 | €437,513 | €413,209 | -€24,303 | -5.6% |
| Financial debts | 170/4 | €437,513 | €413,209 | -€24,303 | -5.6% |
| Amounts payable within one year | 42/48 | €122,662 | €134,793 | +€12,131 | +9.9% |
| Current portion of amounts payable after more than one year | 42 | €24,073 | €42,887 | +€18,814 | +78.2% |
| Financial debts | 43 | €83,953 | €71,372 | -€12,582 | -15.0% |
| Credit institutions | 430/8 | €83,953 | €71,372 | -€12,582 | -15.0% |
| Trade debts | 44 | €2,635 | €10,617 | +€7,982 | +302.9% |
| Suppliers | 440/4 | €2,635 | €10,617 | +€7,982 | +302.9% |
| Taxes, remuneration and social security | 45 | €12,000 | €9,917 | -€2,083 | -17.4% |
| Taxes | 450/3 | €12,000 | €9,917 | -€2,083 | -17.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €17,259 | €20,779 | +€3,521 | +20.4% |
| Other operating charges | 640/8 | €1,780 | €3,408 | +€1,627 | +91.4% |
| Gross operating margin | 9900 | €50,909 | €19,473 | -€31,436 | -61.7% |
| Operating profit (loss) | 9901 | €31,870 | -€4,714 | -€36,584 | |
| Financial income | 75/76B | €323 | €208 | -€115 | -35.6% |
| Recurring financial income | 75 | €323 | €208 | -€115 | -35.6% |
| Financial charges | 65/66B | €13,631 | €17,323 | +€3,693 | +27.1% |
| Recurring financial charges | 65 | €13,631 | €17,323 | +€3,693 | +27.1% |
| Profit (loss) for the period before taxes | 9903 | €18,562 | -€21,829 | -€40,392 | |
| Income taxes | 67/77 | €3,949 | €3,113 | -€837 | -21.2% |
| Profit (loss) for the period | 9904 | €14,613 | -€24,942 | -€39,555 | |
| Profit (loss) for the period to be appropriated | 9905 | €14,613 | -€24,942 | -€39,555 |
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 8 October 2026 via checked.be.