LES 80: 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
LES 80
NACE 68.121, Development of residential building projects
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
€1,446
2024 · -€14,936+€16,381
Equity
€444,074
2024 · €442,628+€1,446
Cash
€5,155
2024 · €3,237+€1,918
Balance sheet total
€909,591
2024 · €895,618+€13,973
Largest movements
Assets
- Tangible fixed assets +€11,613
up €11,613 (+1.4%), from €851,283 to €862,895
of which Assets under construction and advance payments: +€34,272
Equity and liabilities
- Short-term financial debts -€50,000
down €50,000 (-14.3%), from €350,000 to €300,000
- Accrued charges and deferred income +€38,889
new in 2025: €38,889
- Trade debts +€35,137
up €35,137 (+23318.9%), from €151 to €35,288
- Debts after one year -€17,188
down €17,188 (-100.0%), from €17,188 to €0
Income statement
- Gross operating margin +€28,803
up €28,803 (+115.0%), from €25,038 to €53,840
- Financial charges +€13,931
up €13,931 (+122.2%), from €11,405 to €25,336
- Depreciation -€1,276
down €1,276 (-5.3%), from €23,936 to €22,660
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
-€14,936
Gross operating margin
+€28,803
Depreciation
+€1,276
Other operating charges
+€524
Financial income
-€290
Financial charges
-€13,931
Result 2025
€1,446
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
+€102,900
Investment
-€34,272
Financing
-€66,709
Cash 2024
€3,237
From operations (derived)
+€102,900
Net result for the year
+€1,446
Depreciation
+€22,660
Stocks and contracts
+€2,235
Receivables within one year
-€2,730
Deferred charges and accrued income
+€53
Trade debts
+€35,137
Tax, wage and social debts
-€789
Other debts
+€6,000
Accrued charges and deferred income
+€38,889
Investment (derived)
-€34,272
Investment in fixed assets (net)
-€34,272
Financing
-€66,709
Debts after one year
-€17,188
Current portion of long-term debt
+€479
Short-term financial debts
-€50,000
Cash 2025
€5,155
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €895,618 | €909,591 | +€13,973 | +1.6% |
| Fixed assets | 21/28 | €851,283 | €862,895 | +€11,613 | +1.4% |
| Tangible fixed assets | 22/27 | €851,283 | €862,895 | +€11,613 | +1.4% |
| Land and buildings | 22 | €651,933 | €631,253 | -€20,680 | -3.2% |
| Plant, machinery and equipment | 23 | €4,834 | €2,855 | -€1,979 | -40.9% |
| Other tangible fixed assets | 26 | €194,515 | €194,515 | = | 0.0% |
| Assets under construction and advance payments | 27 | - | €34,272 | +€34,272 | |
| Current assets | 29/58 | €44,335 | €46,696 | +€2,360 | +5.3% |
| Stocks and contracts in progress | 3 | €39,559 | €37,324 | -€2,235 | -5.6% |
| Stocks | 30/36 | €39,559 | €37,324 | -€2,235 | -5.6% |
| Amounts receivable within one year | 40/41 | €671 | €3,401 | +€2,730 | +406.9% |
| Trade receivables | 40 | €234 | €3,401 | +€3,167 | +1353.9% |
| Other amounts receivable | 41 | €437 | €0 | -€437 | -100.0% |
| Cash at bank and in hand | 54/58 | €3,237 | €5,155 | +€1,918 | +59.3% |
| Deferred charges and accrued income | 490/1 | €869 | €816 | -€53 | -6.1% |
| Total equity and liabilities | 10/49 | €895,618 | €909,591 | +€13,973 | +1.6% |
| Equity | 10/15 | €442,628 | €444,074 | +€1,446 | +0.3% |
| Contributions | 10/11 | €434,100 | €434,100 | = | 0.0% |
| Reserves | 13 | €26,334 | €26,334 | = | 0.0% |
| Non-distributable reserves | 130/1 | €1,405 | €1,405 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,405 | €1,405 | = | 0.0% |
| Distributable reserves | 133 | €24,929 | €24,929 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€17,806 | -€16,360 | +€1,446 | +8.1% |
| Amounts payable | 17/49 | €452,989 | €465,517 | +€12,527 | +2.8% |
| Amounts payable after more than one year | 17 | €17,188 | €0 | -€17,188 | -100.0% |
| Financial debts | 170/4 | €17,188 | €0 | -€17,188 | -100.0% |
| Amounts payable within one year | 42/48 | €435,802 | €426,628 | -€9,174 | -2.1% |
| Current portion of amounts payable after more than one year | 42 | €17,751 | €18,229 | +€479 | +2.7% |
| Financial debts | 43 | €350,000 | €300,000 | -€50,000 | -14.3% |
| Credit institutions | 430/8 | €350,000 | €300,000 | -€50,000 | -14.3% |
| Trade debts | 44 | €151 | €35,288 | +€35,137 | +23318.9% |
| Suppliers | 440/4 | €151 | €35,288 | +€35,137 | +23318.9% |
| Taxes, remuneration and social security | 45 | €1,506 | €717 | -€789 | -52.4% |
| Taxes | 450/3 | €1,506 | €717 | -€789 | -52.4% |
| Other amounts payable | 47/48 | €66,394 | €72,394 | +€6,000 | +9.0% |
| Accrued charges and deferred income | 492/3 | - | €38,889 | +€38,889 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €23,936 | €22,660 | -€1,276 | -5.3% |
| Other operating charges | 640/8 | €4,928 | €4,403 | -€524 | -10.6% |
| Gross operating margin | 9900 | €25,038 | €53,840 | +€28,803 | +115.0% |
| Operating profit (loss) | 9901 | -€3,825 | €26,777 | +€30,603 | |
| Financial income | 75/76B | €294 | €4 | -€290 | -98.7% |
| Recurring financial income | 75 | €294 | €4 | -€290 | -98.7% |
| Financial charges | 65/66B | €11,405 | €25,336 | +€13,931 | +122.2% |
| Recurring financial charges | 65 | €11,405 | €25,336 | +€13,931 | +122.2% |
| Profit (loss) for the period before taxes | 9903 | -€14,936 | €1,446 | +€16,381 | |
| Profit (loss) for the period | 9904 | -€14,936 | €1,446 | +€16,381 | |
| Profit (loss) for the period to be appropriated | 9905 | -€14,936 | €1,446 | +€16,381 |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.