LER HOLDING: 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.
LER HOLDING
Largest movements
- Financial fixed assets +€1.1m
new in 2025: €1.1m
- Tangible fixed assets -€592,327
down €592,327 (-100.0%), from €592,466 to €138
of which Land and buildings: -€592,093
- Cash -€236,242
down €236,242 (-99.9%), from €236,404 to €162
mainly Investment in fixed assets (net) (-€543,908)
- Reserves +€237,687
up €237,687 (+29.0%), from €818,907 to €1.1m
of which Tax-exempt reserves: +€237,687
- Provisions +€79,229
new in 2025: €79,229
- Gross operating margin +€261,471
up €261,471 (+575%), from €45,469 to €306,940
- Depreciation -€22,708
down €22,708 (-99.0%), from €22,944 to €235
- Other operating charges -€5,976
down €5,976 (-97.0%), from €6,163 to €187
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 | €830,176 | €1,136,300 | +€306,124 | +36.9% |
| Fixed assets | 21/28 | €592,466 | €1,136,138 | +€543,673 | +91.8% |
| Tangible fixed assets | 22/27 | €592,466 | €138 | -€592,327 | -100.0% |
| Land and buildings | 22 | €592,093 | - | -€592,093 | |
| Furniture and vehicles | 24 | €372 | €138 | -€234 | -62.8% |
| Financial fixed assets | 28 | - | €1,136,000 | +€1.1m | |
| Current assets | 29/58 | €237,710 | €162 | -€237,549 | -99.9% |
| Cash at bank and in hand | 54/58 | €236,404 | €162 | -€236,242 | -99.9% |
| Deferred charges and accrued income | 490/1 | €1,306 | - | -€1,306 | |
| Total equity and liabilities | 10/49 | €830,176 | €1,136,300 | +€306,124 | +36.9% |
| Equity | 10/15 | €829,339 | €1,056,393 | +€227,054 | +27.4% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €818,907 | €1,056,594 | +€237,687 | +29.0% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Tax-exempt reserves | 132 | - | €237,687 | +€237,687 | |
| Distributable reserves | 133 | €817,047 | €817,047 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€8,168 | -€18,801 | -€10,633 | -130% |
| Provisions and deferred taxes | 16 | - | €79,229 | +€79,229 | |
| Deferred taxes | 168 | - | €79,229 | +€79,229 | |
| Amounts payable | 17/49 | €837 | €678 | -€159 | -19.0% |
| Amounts payable within one year | 42/48 | €795 | €678 | -€117 | -14.7% |
| Trade debts | 44 | €117 | - | -€117 | |
| Suppliers | 440/4 | €117 | - | -€117 | |
| Other amounts payable | 47/48 | €678 | €678 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | €42 | - | -€42 | |
| Non-recurring operating income | 76A | €36,288 | - | -€36,288 | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,944 | €235 | -€22,708 | -99.0% |
| Other operating charges | 640/8 | €6,163 | €187 | -€5,976 | -97.0% |
| Gross operating margin | 9900 | €45,469 | €306,940 | +€261,471 | +575% |
| Operating profit (loss) | 9901 | €16,362 | €306,518 | +€290,156 | +1,773% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €90 | €235 | +€145 | +161% |
| Recurring financial charges | 65 | €90 | €235 | +€145 | +161% |
| Profit (loss) for the period before taxes | 9903 | €16,272 | €306,283 | +€290,011 | +1,782% |
| Transfer to deferred taxes | 680 | - | €79,229 | +€79,229 | |
| Profit (loss) for the period | 9904 | €16,272 | €227,054 | +€210,782 | +1,295% |
| Transfer to tax-exempt reserves | 689 | - | €237,687 | +€237,687 | |
| Profit (loss) for the period to be appropriated | 9905 | €16,272 | -€10,633 | -€26,905 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.