LES 3 AS: 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.
LES 3 AS
Largest movements
- Current investments +€4.6m
up €4.6m (+142%), from €3.2m to €7.8m
- Receivables within one year -€1.6m
down €1.6m (-67.1%), from €2.4m to €788,330
of which Trade receivables: -€1.1m
- Cash -€579,175
down €579,175 (-39.1%), from €1.5m to €902,904
mainly Current investments (-€4.6m) and Receivables after one year (-€380,795)
- Receivables after one year +€380,795
up €380,795 (+952%), from €40,000 to €420,795
- Profit (loss) carried forward +€2.0m
up €2.0m (+44.3%), from €4.5m to €6.5m
- Tax, wage and social debts +€640,646
up €640,646 (+42.5%), from €1.5m to €2.1m
- Trade debts +€264,652
up €264,652 (+69.5%), from €380,620 to €645,272
- Accrued charges and deferred income -€133,990
down €133,990 (-13.2%), from €1.0m to €882,554
- Gross operating margin -€2.9m
down €2.9m (-51.9%), from €5.6m to €2.7m
- Taxes -€847,374
down €847,374 (-56.2%), from €1.5m to €659,310
- Provisions +€554,000
up €554,000, from -€554,000 to €0
- Financial income +€92,476
up €92,476 (+265%), from €34,867 to €127,343
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 | €7,540,155 | €10,315,349 | +€2.8m | +36.8% |
| Fixed assets | 21/28 | €42,537 | €94,464 | +€51,926 | +122% |
| Intangible fixed assets | 21 | €3,000 | €3,000 | = | 0.0% |
| Tangible fixed assets | 22/27 | €39,537 | €91,464 | +€51,926 | +131% |
| Furniture and vehicles | 24 | €39,537 | €57,333 | +€17,796 | +45.0% |
| Other tangible fixed assets | 26 | - | €34,131 | +€34,131 | |
| Current assets | 29/58 | €7,497,618 | €10,220,885 | +€2.7m | +36.3% |
| Amounts receivable after more than one year | 29 | €40,000 | €420,795 | +€380,795 | +952% |
| Other amounts receivable | 291 | €40,000 | €420,795 | +€380,795 | +952% |
| Stocks and contracts in progress | 3 | €372,492 | €345,668 | -€26,824 | -7.2% |
| Stocks | 30/36 | €372,492 | €345,668 | -€26,824 | -7.2% |
| Amounts receivable within one year | 40/41 | €2,394,941 | €788,330 | -€1.6m | -67.1% |
| Trade receivables | 40 | €1,814,933 | €734,412 | -€1.1m | -59.5% |
| Other amounts receivable | 41 | €580,008 | €53,919 | -€526,090 | -90.7% |
| Current investments | 50/53 | €3,200,000 | €7,758,603 | +€4.6m | +142% |
| Cash at bank and in hand | 54/58 | €1,482,079 | €902,904 | -€579,175 | -39.1% |
| Deferred charges and accrued income | 490/1 | €8,106 | €4,585 | -€3,521 | -43.4% |
| Total equity and liabilities | 10/49 | €7,540,155 | €10,315,349 | +€2.8m | +36.8% |
| Equity | 10/15 | €4,586,373 | €6,590,258 | +€2.0m | +43.7% |
| Contributions | 10/11 | €60,000 | €60,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €4,526,373 | €6,530,258 | +€2.0m | +44.3% |
| Amounts payable | 17/49 | €2,953,782 | €3,725,090 | +€771,308 | +26.1% |
| Amounts payable after more than one year | 17 | €50,000 | €50,000 | = | 0.0% |
| Advances received on contracts in progress | 176 | €50,000 | €50,000 | = | 0.0% |
| Amounts payable within one year | 42/48 | €1,887,238 | €2,792,536 | +€905,298 | +48.0% |
| Trade debts | 44 | €380,620 | €645,272 | +€264,652 | +69.5% |
| Suppliers | 440/4 | €380,620 | €645,272 | +€264,652 | +69.5% |
| Taxes, remuneration and social security | 45 | €1,506,619 | €2,147,264 | +€640,646 | +42.5% |
| Taxes | 450/3 | €1,506,619 | €2,147,264 | +€640,646 | +42.5% |
| Accrued charges and deferred income | 492/3 | €1,016,544 | €882,554 | -€133,990 | -13.2% |
| Non-recurring operating income | 76A | €5,831 | €0 | -€5,831 | -100% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €5,834 | €12,539 | +€6,705 | +115% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €75,515 | €121,021 | +€45,506 | +60.3% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | -€554,000 | €0 | +€554,000 | |
| Other operating charges | 640/8 | €26,264 | €465 | -€25,799 | -98.2% |
| Gross operating margin | 9900 | €5,555,112 | €2,673,251 | -€2.9m | -51.9% |
| Operating profit (loss) | 9901 | €6,001,499 | €2,539,226 | -€3.5m | -57.7% |
| Financial income | 75/76B | €34,867 | €127,343 | +€92,476 | +265% |
| Recurring financial income | 75 | €34,867 | €127,343 | +€92,476 | +265% |
| Financial charges | 65/66B | €3,308 | €3,373 | +€65 | +2.0% |
| Recurring financial charges | 65 | €3,308 | €3,373 | +€65 | +2.0% |
| Profit (loss) for the period before taxes | 9903 | €6,033,057 | €2,663,195 | -€3.4m | -55.9% |
| Income taxes | 67/77 | €1,506,684 | €659,310 | -€847,374 | -56.2% |
| Profit (loss) for the period | 9904 | €4,526,373 | €2,003,885 | -€2.5m | -55.7% |
| Profit (loss) for the period to be appropriated | 9905 | €4,526,373 | €2,003,885 | -€2.5m | -55.7% |
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 15 October 2026 via checked.be.