LES & Co: 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 & Co
Largest movements
- Tangible fixed assets +€65,840
up €65,840 (+14.6%), from €450,351 to €516,191
of which Furniture and vehicles: +€52,491
- Cash +€32,091
up €32,091 (+16.9%), from €189,547 to €221,638
mainly Net result for the year (+€91,305) and Depreciation (+€21,410)
- Stocks and contracts +€23,110
up €23,110 (+60.1%), from €38,430 to €61,540
- Receivables within one year +€14,521
up €14,521 (+228%), from €6,359 to €20,880
- Reserves +€90,000
up €90,000 (+257%), from €35,028 to €125,028
- Trade debts +€16,541
up €16,541 (+123%), from €13,427 to €29,968
- Debts after one year +€12,138
up €12,138 (+3.1%), from €389,510 to €401,648
- Current portion of long-term debt +€10,284
up €10,284 (+71.3%), from €14,415 to €24,699
- Short-term financial debts +€10,000
up €10,000 (+7.7%), from €130,500 to €140,500
of which Credit institutions: +€40,000
- Depreciation -€32,465
down €32,465 (-60.3%), from €53,876 to €21,410
- Gross operating margin -€28,576
down €28,576 (-13.8%), from €207,665 to €179,089
- Taxes +€4,085
up €4,085 (+9.8%), from €41,544 to €45,629
- Write-downs -€2,112
no longer reported in 2025 (was €2,112)
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 | €684,686 | €820,248 | +€135,562 | +19.8% |
| Fixed assets | 21/28 | €450,351 | €516,191 | +€65,840 | +14.6% |
| Tangible fixed assets | 22/27 | €450,351 | €516,191 | +€65,840 | +14.6% |
| Land and buildings | 22 | €441,042 | €454,391 | +€13,349 | +3.0% |
| Furniture and vehicles | 24 | €9,308 | €61,800 | +€52,491 | +564% |
| Current assets | 29/58 | €234,336 | €304,057 | +€69,722 | +29.8% |
| Stocks and contracts in progress | 3 | €38,430 | €61,540 | +€23,110 | +60.1% |
| Stocks | 30/36 | €38,430 | €61,540 | +€23,110 | +60.1% |
| Amounts receivable within one year | 40/41 | €6,359 | €20,880 | +€14,521 | +228% |
| Trade receivables | 40 | €6,359 | €20,880 | +€14,521 | +228% |
| Cash at bank and in hand | 54/58 | €189,547 | €221,638 | +€32,091 | +16.9% |
| Total equity and liabilities | 10/49 | €684,686 | €820,248 | +€135,562 | +19.8% |
| Equity | 10/15 | €53,643 | €144,948 | +€91,305 | +170% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €35,028 | €125,028 | +€90,000 | +257% |
| Distributable reserves | 133 | €35,028 | €125,028 | +€90,000 | +257% |
| Profit (loss) carried forward | 14 | €15 | €1,321 | +€1,305 | +8,510% |
| Amounts payable | 17/49 | €631,044 | €675,300 | +€44,256 | +7.0% |
| Amounts payable after more than one year | 17 | €389,510 | €401,648 | +€12,138 | +3.1% |
| Financial debts | 170/4 | €389,510 | €401,648 | +€12,138 | +3.1% |
| Amounts payable within one year | 42/48 | €241,534 | €273,652 | +€32,118 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €14,415 | €24,699 | +€10,284 | +71.3% |
| Financial debts | 43 | €130,500 | €140,500 | +€10,000 | +7.7% |
| Credit institutions | 430/8 | - | €40,000 | +€40,000 | |
| Other loans | 439 | €130,500 | €100,500 | -€30,000 | -23.0% |
| Trade debts | 44 | €13,427 | €29,968 | +€16,541 | +123% |
| Suppliers | 440/4 | €13,427 | €29,968 | +€16,541 | +123% |
| Taxes, remuneration and social security | 45 | €79,451 | €74,645 | -€4,806 | -6.0% |
| Taxes | 450/3 | €79,451 | €74,645 | -€4,806 | -6.0% |
| Other amounts payable | 47/48 | €3,741 | €3,840 | +€99 | +2.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €53,876 | €21,410 | -€32,465 | -60.3% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | €2,112 | - | -€2,112 | |
| Other operating charges | 640/8 | €2,803 | €3,080 | +€277 | +9.9% |
| Gross operating margin | 9900 | €207,665 | €179,089 | -€28,576 | -13.8% |
| Operating profit (loss) | 9901 | €148,875 | €154,599 | +€5,724 | +3.8% |
| Financial income | 75/76B | €460 | €500 | +€40 | +8.6% |
| Recurring financial income | 75 | €460 | €500 | +€40 | +8.6% |
| Financial charges | 65/66B | €17,797 | €18,163 | +€367 | +2.1% |
| Recurring financial charges | 65 | €17,797 | €18,163 | +€367 | +2.1% |
| Profit (loss) for the period before taxes | 9903 | €131,538 | €136,935 | +€5,397 | +4.1% |
| Income taxes | 67/77 | €41,544 | €45,629 | +€4,085 | +9.8% |
| Profit (loss) for the period | 9904 | €89,994 | €91,305 | +€1,311 | +1.5% |
| Profit (loss) for the period to be appropriated | 9905 | €89,994 | €91,305 | +€1,311 | +1.5% |
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 14 October 2026 via checked.be.