LEROUGE FREDERIC: 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.
LEROUGE FREDERIC
Largest movements
- Tangible fixed assets +€443,415
up €443,415 (+22.8%), from €1.9m to €2.4m
of which Land and buildings: +€327,934
- Cash -€51,933
down €51,933 (-39.5%), from €131,623 to €79,690
mainly Investment in fixed assets (net) (-€760,605) and Debts after one year (-€131,725)
- Receivables within one year +€37,472
up €37,472 (+69.5%), from €53,921 to €91,394
of which Trade receivables: +€27,864
- Reserves +€278,455
up €278,455 (+20.6%), from €1.4m to €1.6m
of which Distributable reserves: +€286,780
- Current portion of long-term debt +€168,605
up €168,605 (+105%), from €161,174 to €329,779
- Debts after one year -€131,725
down €131,725 (-24.6%), from €536,111 to €404,386
- Trade debts +€94,439
up €94,439 (+77.2%), from €122,344 to €216,782
- Gross operating margin +€171,461
up €171,461 (+28.7%), from €596,708 to €768,169
- Depreciation +€38,399
up €38,399 (+13.8%), from €278,791 to €317,190
- Taxes +€35,417
up €35,417 (+47.6%), from €74,361 to €109,778
- Financial charges +€8,641
up €8,641 (+115%), from €7,512 to €16,153
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 | €2,390,571 | €2,819,436 | +€428,865 | +17.9% |
| Fixed assets | 21/28 | €1,947,118 | €2,390,533 | +€443,415 | +22.8% |
| Tangible fixed assets | 22/27 | €1,946,888 | €2,390,303 | +€443,415 | +22.8% |
| Land and buildings | 22 | €1,680,697 | €2,008,631 | +€327,934 | +19.5% |
| Plant, machinery and equipment | 23 | €139,181 | €191,819 | +€52,638 | +37.8% |
| Furniture and vehicles | 24 | €127,010 | €189,853 | +€62,843 | +49.5% |
| Financial fixed assets | 28 | €230 | €230 | = | 0.0% |
| Current assets | 29/58 | €443,454 | €428,903 | -€14,550 | -3.3% |
| Stocks and contracts in progress | 3 | €33,544 | €32,586 | -€958 | -2.9% |
| Stocks | 30/36 | €33,544 | €32,586 | -€958 | -2.9% |
| Amounts receivable within one year | 40/41 | €53,921 | €91,394 | +€37,472 | +69.5% |
| Trade receivables | 40 | €53,097 | €80,961 | +€27,864 | +52.5% |
| Other amounts receivable | 41 | €824 | €10,432 | +€9,608 | +1,166% |
| Current investments | 50/53 | €220,000 | €220,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €131,623 | €79,690 | -€51,933 | -39.5% |
| Deferred charges and accrued income | 490/1 | €4,365 | €5,234 | +€868 | +19.9% |
| Total equity and liabilities | 10/49 | €2,390,571 | €2,819,436 | +€428,865 | +17.9% |
| Equity | 10/15 | €1,519,713 | €1,798,168 | +€278,455 | +18.3% |
| Contributions | 10/11 | €168,600 | €168,600 | = | 0.0% |
| Reserves | 13 | €1,351,113 | €1,629,568 | +€278,455 | +20.6% |
| Tax-exempt reserves | 132 | €8,325 | - | -€8,325 | |
| Distributable reserves | 133 | €1,342,788 | €1,629,568 | +€286,780 | +21.4% |
| Provisions and deferred taxes | 16 | €2,775 | - | -€2,775 | |
| Provisions for liabilities and charges | 160/5 | €2,775 | - | -€2,775 | |
| Pensions and similar obligations | 160 | €2,775 | - | -€2,775 | |
| Amounts payable | 17/49 | €868,083 | €1,021,269 | +€153,185 | +17.6% |
| Amounts payable after more than one year | 17 | €536,111 | €404,386 | -€131,725 | -24.6% |
| Financial debts | 170/4 | €536,111 | €404,386 | -€131,725 | -24.6% |
| Amounts payable within one year | 42/48 | €331,972 | €616,883 | +€284,911 | +85.8% |
| Current portion of amounts payable after more than one year | 42 | €161,174 | €329,779 | +€168,605 | +105% |
| Trade debts | 44 | €122,344 | €216,782 | +€94,439 | +77.2% |
| Suppliers | 440/4 | €122,344 | €216,782 | +€94,439 | +77.2% |
| Advances received on contracts in progress | 46 | €44 | - | -€44 | |
| Taxes, remuneration and social security | 45 | €30,232 | €53,235 | +€23,004 | +76.1% |
| Taxes | 450/3 | €29,361 | €48,601 | +€19,241 | +65.5% |
| Remuneration and social security | 454/9 | €871 | €4,634 | +€3,763 | +432% |
| Other amounts payable | 47/48 | €18,178 | €17,086 | -€1,092 | -6.0% |
| Non-recurring operating income | 76A | €301 | €43,936 | +€43,635 | +14,485% |
| Remuneration, social security and pensions | 62 | €39,008 | €32,500 | -€6,508 | -16.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €278,791 | €317,190 | +€38,399 | +13.8% |
| Other operating charges | 640/8 | €23,871 | €27,334 | +€3,462 | +14.5% |
| Non-recurring operating charges | 66A | €2,597 | €170 | -€2,427 | -93.4% |
| Gross operating margin | 9900 | €596,708 | €768,169 | +€171,461 | +28.7% |
| Operating profit (loss) | 9901 | €252,440 | €390,975 | +€138,535 | +54.9% |
| Financial income | 75/76B | €7,880 | €10,635 | +€2,755 | +35.0% |
| Recurring financial income | 75 | €7,880 | €10,635 | +€2,755 | +35.0% |
| Financial charges | 65/66B | €7,512 | €16,153 | +€8,641 | +115% |
| Recurring financial charges | 65 | €7,512 | €16,153 | +€8,641 | +115% |
| Profit (loss) for the period before taxes | 9903 | €252,808 | €385,457 | +€132,649 | +52.5% |
| Transfer from deferred taxes | 780 | €3,370 | €2,775 | -€595 | -17.7% |
| Income taxes | 67/77 | €74,361 | €109,778 | +€35,417 | +47.6% |
| Profit (loss) for the period | 9904 | €181,818 | €278,455 | +€96,637 | +53.2% |
| Transfer from tax-exempt reserves | 789 | €10,111 | €8,325 | -€1,786 | -17.7% |
| Profit (loss) for the period to be appropriated | 9905 | €191,929 | €286,780 | +€94,851 | +49.4% |
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 18 October 2026 via checked.be.