LERUSE ERIC: 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.
What changed
LERUSE ERIC
NACE 25.401, Forging of metal
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1,327
2024 · €44,900-€43,573
Equity
€382,821
2024 · €390,425-€7,605
Cash
€120,549
2024 · €330,731-€210,182
Balance sheet total
€1.5m
2024 · €1.6m-€144,118
Largest movements
Assets
- Cash -€210,182
down €210,182 (-63.6%), from €330,731 to €120,549
mainly Current investments (-€200,000) and Debts after one year (-€97,164)
- Current investments +€200,000
new in 2025: €200,000
- Tangible fixed assets -€98,162
down €98,162 (-8.6%), from €1.1m to €1.0m
- Receivables within one year -€41,404
down €41,404 (-26.5%), from €156,324 to €114,920
of which Other amounts receivable: -€34,636
Equity and liabilities
- Debts after one year -€97,164
down €97,164 (-10.5%), from €921,405 to €824,241
- Other debts -€17,600
down €17,600 (-10.7%), from €164,500 to €146,900
Income statement
- Staff costs +€27,677
up €27,677 (+19.4%), from €142,710 to €170,387
- Financial charges +€7,915
up €7,915 (+46.7%), from €16,947 to €24,862
- Other operating charges +€4,066
up €4,066 (+31.2%), from €13,022 to €17,088
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.
Result 2024
€44,900
Gross operating margin
-€862
Staff costs
-€27,677
Depreciation
-€1,808
Other operating charges
-€4,066
Financial income
-€148
Financial charges
-€7,915
Taxes
-€1,097
Result 2025
€1,327
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.
From operations
+€148,907
Investment
-€246,793
Financing
-€112,297
Cash 2024
€330,731
From operations (derived)
+€148,907
Net result for the year
+€1,327
Depreciation
+€145,727
Stocks and contracts
-€5,544
Receivables within one year
+€41,404
Deferred charges and accrued income
-€859
Trade debts
-€11,034
Tax, wage and social debts
-€3,964
Advances received
-€550
Other debts
-€17,600
Investment (derived)
-€246,793
Investment in fixed assets (net)
-€46,793
Current investments
-€200,000
Financing
-€112,297
Debts after one year
-€97,164
Current portion of long-term debt
-€6,201
Contributions, distributions and other
-€8,932
Cash 2025
€120,549
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,629,109 | €1,484,991 | -€144,118 | -8.8% |
| Fixed assets | 21/28 | €1,137,493 | €1,038,559 | -€98,934 | -8.7% |
| Tangible fixed assets | 22/27 | €1,136,721 | €1,038,559 | -€98,162 | -8.6% |
| Land and buildings | 22 | €714,951 | €678,223 | -€36,728 | -5.1% |
| Plant, machinery and equipment | 23 | €336,702 | €294,226 | -€42,476 | -12.6% |
| Furniture and vehicles | 24 | €80,969 | €62,962 | -€18,007 | -22.2% |
| Other tangible fixed assets | 26 | €4,099 | €3,148 | -€951 | -23.2% |
| Financial fixed assets | 28 | €772 | - | -€772 | |
| Current assets | 29/58 | €491,616 | €446,432 | -€45,184 | -9.2% |
| Stocks and contracts in progress | 3 | - | €5,544 | +€5,544 | |
| Contracts in progress | 37 | - | €5,544 | +€5,544 | |
| Amounts receivable within one year | 40/41 | €156,324 | €114,920 | -€41,404 | -26.5% |
| Trade receivables | 40 | €117,668 | €110,900 | -€6,768 | -5.8% |
| Other amounts receivable | 41 | €38,656 | €4,020 | -€34,636 | -89.6% |
| Current investments | 50/53 | - | €200,000 | +€200,000 | |
| Cash at bank and in hand | 54/58 | €330,731 | €120,549 | -€210,182 | -63.6% |
| Deferred charges and accrued income | 490/1 | €4,561 | €5,420 | +€859 | +18.8% |
| Total equity and liabilities | 10/49 | €1,629,109 | €1,484,991 | -€144,118 | -8.8% |
| Equity | 10/15 | €390,425 | €382,821 | -€7,605 | -1.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Outside capital | 11 | €18,600 | €18,600 | = | 0.0% |
| Other | 1109/19 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €17,860 | €17,860 | = | 0.0% |
| Tax-exempt reserves | 132 | €16,000 | €16,000 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €264,904 | €266,232 | +€1,328 | +0.5% |
| Investment grants | 15 | €89,061 | €80,129 | -€8,932 | -10.0% |
| Amounts payable | 17/49 | €1,238,684 | €1,102,171 | -€136,513 | -11.0% |
| Amounts payable after more than one year | 17 | €921,405 | €824,241 | -€97,164 | -10.5% |
| Financial debts | 170/4 | €921,405 | €824,241 | -€97,164 | -10.5% |
| Amounts payable within one year | 42/48 | €317,279 | €277,930 | -€39,349 | -12.4% |
| Current portion of amounts payable after more than one year | 42 | €103,365 | €97,164 | -€6,201 | -6.0% |
| Trade debts | 44 | €19,564 | €8,530 | -€11,034 | -56.4% |
| Suppliers | 440/4 | €19,564 | €8,530 | -€11,034 | -56.4% |
| Advances received on contracts in progress | 46 | €550 | - | -€550 | |
| Taxes, remuneration and social security | 45 | €29,300 | €25,336 | -€3,964 | -13.5% |
| Taxes | 450/3 | €11,351 | €5,614 | -€5,737 | -50.5% |
| Remuneration and social security | 454/9 | €17,949 | €19,722 | +€1,773 | +9.9% |
| Other amounts payable | 47/48 | €164,500 | €146,900 | -€17,600 | -10.7% |
| Non-recurring operating income | 76A | €210 | - | -€210 | |
| Remuneration, social security and pensions | 62 | €142,710 | €170,387 | +€27,677 | +19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €143,919 | €145,727 | +€1,808 | +1.3% |
| Other operating charges | 640/8 | €13,022 | €17,088 | +€4,066 | +31.2% |
| Gross operating margin | 9900 | €350,351 | €349,489 | -€862 | -0.2% |
| Operating profit (loss) | 9901 | €50,700 | €16,288 | -€34,412 | -67.9% |
| Financial income | 75/76B | €11,147 | €10,999 | -€148 | -1.3% |
| Recurring financial income | 75 | €11,147 | €10,999 | -€148 | -1.3% |
| Financial charges | 65/66B | €16,947 | €24,862 | +€7,915 | +46.7% |
| Recurring financial charges | 65 | €16,947 | €24,862 | +€7,915 | +46.7% |
| Profit (loss) for the period before taxes | 9903 | €44,900 | €2,424 | -€42,476 | -94.6% |
| Income taxes | 67/77 | - | €1,097 | +€1,097 | |
| Profit (loss) for the period | 9904 | €44,900 | €1,327 | -€43,573 | -97.0% |
| Profit (loss) for the period to be appropriated | 9905 | €44,900 | €1,327 | -€43,573 | -97.0% |
Source: filed annual accounts (NBB), fiscal years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 2 October 2026 via checked.be.