LEMARCHAND CONCEPT: 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.
LEMARCHAND CONCEPT
Largest movements
- Tangible fixed assets -€71,690
down €71,690 (-33.3%), from €215,539 to €143,850
of which Furniture and vehicles: -€63,148
- Receivables within one year -€35,489
down €35,489 (-29.4%), from €120,707 to €85,218
of which Trade receivables: -€44,359
- Stocks and contracts -€5,010
down €5,010 (-8.9%), from €56,412 to €51,402
- Cash -€4,851
down €4,851 (-28.0%), from €17,302 to €12,451
mainly Debts after one year (-€38,253) and Short-term financial debts (-€35,367)
- Debts after one year -€38,253
down €38,253 (-32.2%), from €118,667 to €80,414
- Short-term financial debts -€35,367
down €35,367 (-73.1%), from €48,367 to €13,000
- Trade debts -€35,305
down €35,305 (-41.9%), from €84,254 to €48,950
- Current portion of long-term debt -€11,640
down €11,640 (-23.3%), from €49,893 to €38,253
- Profit (loss) carried forward +€8,564
up €8,564 (+39.8%), from €21,520 to €30,084
- Gross operating margin -€51,352
down €51,352 (-20.1%), from €256,049 to €204,697
- Staff costs -€43,581
down €43,581 (-27.6%), from €157,920 to €114,339
- Financial charges -€6,133
down €6,133 (-46.1%), from €13,307 to €7,174
- Financial income +€3,426
up €3,426 (+164.9%), from €2,077 to €5,504
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 | €423,630 | €302,226 | -€121,404 | -28.7% |
| Fixed assets | 21/28 | €216,093 | €144,268 | -€71,825 | -33.2% |
| Tangible fixed assets | 22/27 | €215,539 | €143,850 | -€71,690 | -33.3% |
| Land and buildings | 22 | €6,318 | €3,853 | -€2,465 | -39.0% |
| Plant, machinery and equipment | 23 | €15,287 | €4,678 | -€10,608 | -69.4% |
| Furniture and vehicles | 24 | €193,935 | €130,787 | -€63,148 | -32.6% |
| Other tangible fixed assets | 26 | - | €4,532 | +€4,532 | |
| Financial fixed assets | 28 | €554 | €419 | -€135 | -24.4% |
| Current assets | 29/58 | €207,537 | €157,958 | -€49,580 | -23.9% |
| Stocks and contracts in progress | 3 | €56,412 | €51,402 | -€5,010 | -8.9% |
| Stocks | 30/36 | €56,412 | €51,402 | -€5,010 | -8.9% |
| Amounts receivable within one year | 40/41 | €120,707 | €85,218 | -€35,489 | -29.4% |
| Trade receivables | 40 | €120,179 | €75,820 | -€44,359 | -36.9% |
| Other amounts receivable | 41 | €528 | €9,398 | +€8,870 | +1679.1% |
| Cash at bank and in hand | 54/58 | €17,302 | €12,451 | -€4,851 | -28.0% |
| Deferred charges and accrued income | 490/1 | €13,115 | €8,887 | -€4,229 | -32.2% |
| Total equity and liabilities | 10/49 | €423,630 | €302,226 | -€121,404 | -28.7% |
| Equity | 10/15 | €101,147 | €110,945 | +€9,798 | +9.7% |
| Contributions | 10/11 | €76,600 | €76,600 | = | 0.0% |
| Reserves | 13 | €3,027 | €3,027 | = | 0.0% |
| Distributable reserves | 133 | €3,027 | €3,027 | = | 0.0% |
| Profit (loss) carried forward | 14 | €21,520 | €30,084 | +€8,564 | +39.8% |
| Investment grants | 15 | - | €1,234 | +€1,234 | |
| Amounts payable | 17/49 | €322,484 | €191,281 | -€131,202 | -40.7% |
| Amounts payable after more than one year | 17 | €118,667 | €80,414 | -€38,253 | -32.2% |
| Financial debts | 170/4 | €118,667 | €80,414 | -€38,253 | -32.2% |
| Amounts payable within one year | 42/48 | €201,653 | €110,855 | -€90,798 | -45.0% |
| Current portion of amounts payable after more than one year | 42 | €49,893 | €38,253 | -€11,640 | -23.3% |
| Financial debts | 43 | €48,367 | €13,000 | -€35,367 | -73.1% |
| Credit institutions | 430/8 | €48,367 | €13,000 | -€35,367 | -73.1% |
| Trade debts | 44 | €84,254 | €48,950 | -€35,305 | -41.9% |
| Suppliers | 440/4 | €84,254 | €48,950 | -€35,305 | -41.9% |
| Taxes, remuneration and social security | 45 | €14,074 | €8,705 | -€5,369 | -38.1% |
| Taxes | 450/3 | €2,860 | - | -€2,860 | |
| Remuneration and social security | 454/9 | €11,214 | €8,705 | -€2,509 | -22.4% |
| Other amounts payable | 47/48 | €5,065 | €1,948 | -€3,117 | -61.5% |
| Accrued charges and deferred income | 492/3 | €2,164 | €12 | -€2,152 | -99.4% |
| Non-recurring operating income | 76A | €32,852 | €3,000 | -€29,852 | -90.9% |
| Remuneration, social security and pensions | 62 | €157,920 | €114,339 | -€43,581 | -27.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,995 | €77,120 | -€1,875 | -2.4% |
| Other operating charges | 640/8 | €4,527 | €2,169 | -€2,358 | -52.1% |
| Non-recurring operating charges | 66A | €49 | - | -€49 | |
| Gross operating margin | 9900 | €256,049 | €204,697 | -€51,352 | -20.1% |
| Operating profit (loss) | 9901 | €14,558 | €11,068 | -€3,489 | -24.0% |
| Financial income | 75/76B | €2,077 | €5,504 | +€3,426 | +164.9% |
| Recurring financial income | 75 | €2,077 | €5,504 | +€3,426 | +164.9% |
| Financial charges | 65/66B | €13,307 | €7,174 | -€6,133 | -46.1% |
| Recurring financial charges | 65 | €13,307 | €7,174 | -€6,133 | -46.1% |
| Profit (loss) for the period before taxes | 9903 | €3,328 | €9,397 | +€6,070 | +182.4% |
| Profit (loss) for the period | 9904 | €3,328 | €9,397 | +€6,070 | +182.4% |
| Profit (loss) for the period to be appropriated | 9905 | €3,328 | €9,397 | +€6,070 | +182.4% |
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 11 October 2026 via checked.be.