Les Erables: 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.
What changed
Les Erables
NACE 43.230, Insulation installation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€50,897
2024 · €480,586-€429,689
Equity
€12.0m
2024 · €12.0m-€14,300
Cash
€2.6m
2024 · €3.5m-€900,058
Balance sheet total
€15.8m
2024 · €15.5m+€271,816
Largest movements
Assets
- Current investments +€1.5m
up €1.5m (+38.3%), from €3.9m to €5.4m
- Cash -€900,058
down €900,058 (-25.7%), from €3.5m to €2.6m
mainly Current investments (-€1.5m) and Debts after one year (-€100,000)
- Tangible fixed assets -€228,560
down €228,560 (-4.3%), from €5.3m to €5.1m
Equity and liabilities
- Debts within one year +€380,032
up €380,032 (+18.1%), from €2.1m to €2.5m
Income statement
- Turnover -€446,422
down €446,422 (-8.8%), from €5.1m to €4.6m
- Goods and materials -€149,037
down €149,037 (-20.4%), from €729,863 to €580,826
of which Change in stocks: decrease (increase): -€88,546
- Financial charges +€84,024
up €84,024, from -€32,481 to €51,544
- Staff costs -€66,915
down €66,915 (-1.0%), from €6.4m to €6.4m
- Financial income -€51,915
down €51,915 (-34.2%), from €151,717 to €99,802
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
€480,586
Turnover
-€446,422
Other operating income
+€12,294
Goods and materials
+€149,037
Services and other goods
-€10,389
Staff costs
+€66,915
Depreciation
+€32,513
Write-downs
-€4,813
Other operating charges
+€1,016
Other operating items
-€99,794
Financial income
-€51,915
Financial charges
-€84,024
Taxes
+€5,893
Result 2025
€50,897
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€803,371
Investment
-€1.5m
Financing
-€165,197
Cash 2024
€3.5m
From operations (derived)
+€803,371
Net result for the year
+€50,897
Depreciation
+€264,001
Stocks and contracts
-€41,127
Receivables within one year
+€149,267
Deferred charges and accrued income
-€5,781
Debts within one year
+€380,032
Accrued charges and deferred income
+€6,084
Investment (derived)
-€1.5m
Investment in fixed assets (net)
-€37,940
Current investments
-€1.5m
Financing
-€165,197
Debts after one year
-€100,000
Contributions, distributions and other
-€65,197
Cash 2025
€2.6m
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €15,540,743 | €15,812,559 | +€271,816 | +1.7% |
| Fixed assets | 21/28 | €5,500,522 | €5,274,462 | -€226,060 | -4.1% |
| Tangible fixed assets | 22/27 | €5,345,274 | €5,116,714 | -€228,560 | -4.3% |
| Land and buildings | 22 | €4,721,398 | €4,616,848 | -€104,550 | -2.2% |
| Plant, machinery and equipment | 23 | €507,762 | €406,570 | -€101,192 | -19.9% |
| Furniture and vehicles | 24 | €116,114 | €93,296 | -€22,818 | -19.7% |
| Financial fixed assets | 28 | €155,248 | €157,748 | +€2,500 | +1.6% |
| Affiliated companies | 280/1 | €150,000 | €150,000 | = | 0.0% |
| Participating interests | 280 | €150,000 | €150,000 | = | 0.0% |
| Other financial fixed assets | 284/8 | €5,248 | €7,748 | +€2,500 | +47.6% |
| Shares | 284 | €1,000 | €1,000 | = | 0.0% |
| Amounts receivable and cash guarantees | 285/8 | €4,248 | €6,748 | +€2,500 | +58.9% |
| Current assets | 29/58 | €10,040,222 | €10,538,097 | +€497,876 | +5.0% |
| Stocks and contracts in progress | 3 | €349,035 | €390,162 | +€41,127 | +11.8% |
| Stocks | 30/36 | €349,035 | €390,162 | +€41,127 | +11.8% |
| Raw materials and consumables | 30/31 | €349,035 | €390,162 | +€41,127 | +11.8% |
| Amounts receivable within one year | 40/41 | €2,210,217 | €2,060,950 | -€149,267 | -6.8% |
| Trade receivables | 40 | €1,827,784 | €1,778,523 | -€49,261 | -2.7% |
| Other amounts receivable | 41 | €382,433 | €282,427 | -€100,006 | -26.1% |
| Current investments | 50/53 | €3,916,201 | €5,416,493 | +€1.5m | +38.3% |
| Cash at bank and in hand | 54/58 | €3,504,076 | €2,604,018 | -€900,058 | -25.7% |
| Deferred charges and accrued income | 490/1 | €60,693 | €66,474 | +€5,781 | +9.5% |
| Total equity and liabilities | 10/49 | €15,540,743 | €15,812,559 | +€271,816 | +1.7% |
| Equity | 10/15 | €12,038,760 | €12,024,460 | -€14,300 | -0.1% |
| Profit (loss) carried forward | 14 | €11,013,658 | €11,064,555 | +€50,897 | +0.5% |
| Investment grants | 15 | €1,025,102 | €959,905 | -€65,197 | -6.4% |
| Amounts payable | 17/49 | €3,501,984 | €3,788,099 | +€286,116 | +8.2% |
| Amounts payable after more than one year | 17 | €1,391,667 | €1,291,667 | -€100,000 | -7.2% |
| Financial debts | 170/4 | €1,391,667 | €1,291,667 | -€100,000 | -7.2% |
| Credit institutions | 173 | €1,391,667 | €1,291,667 | -€100,000 | -7.2% |
| Amounts payable within one year | 42/48 | €2,100,587 | €2,480,619 | +€380,032 | +18.1% |
| Current portion of amounts payable after more than one year | 42 | €100,000 | €100,000 | = | 0.0% |
| Trade debts | 44 | €169,054 | €297,116 | +€128,062 | +75.8% |
| Suppliers | 440/4 | €169,054 | €297,116 | +€128,062 | +75.8% |
| Advances received on contracts in progress | 46 | €1,511 | - | -€1,511 | |
| Taxes, remuneration and social security | 45 | €1,180,339 | €1,020,183 | -€160,156 | -13.6% |
| Taxes | 450/3 | €61,344 | €41,463 | -€19,881 | -32.4% |
| Remuneration and social security | 454/9 | €1,118,996 | €978,720 | -€140,275 | -12.5% |
| Accrued charges and deferred income | 492/3 | €9,730 | €15,814 | +€6,084 | +62.5% |
| Operating income | 70/76A | €8,546,982 | €8,013,060 | -€533,922 | -6.2% |
| Turnover | 70 | €5,073,655 | €4,627,233 | -€446,422 | -8.8% |
| Membership fees, donations, legacies and grants | 73 | €3,448,594 | €3,348,740 | -€99,854 | -2.9% |
| Other operating income | 74 | €24,581 | €36,875 | +€12,294 | +50.0% |
| Non-recurring operating income | 76A | €152 | €212 | +€60 | +39.4% |
| Operating charges | 60/66A | €8,236,841 | €8,002,561 | -€234,280 | -2.8% |
| Goods for resale, raw materials and consumables | 60 | €729,863 | €580,826 | -€149,037 | -20.4% |
| Purchases | 600/8 | €682,445 | €621,953 | -€60,492 | -8.9% |
| Change in stocks: decrease (increase) | 609 | €47,419 | -€41,127 | -€88,546 | |
| Services and other goods | 61 | €723,555 | €733,944 | +€10,389 | +1.4% |
| Remuneration, social security and pensions | 62 | €6,449,769 | €6,382,853 | -€66,915 | -1.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €296,514 | €264,001 | -€32,513 | -11.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €4,813 | +€4,813 | |
| Other operating charges | 640/8 | €37,141 | €36,125 | -€1,016 | -2.7% |
| Operating profit (loss) | 9901 | €310,141 | €10,499 | -€299,642 | -96.6% |
| Financial income | 75/76B | €151,717 | €99,802 | -€51,915 | -34.2% |
| Recurring financial income | 75 | €151,717 | €99,802 | -€51,915 | -34.2% |
| Income from current assets | 751 | €85,185 | €34,605 | -€50,580 | -59.4% |
| Other financial income | 752/9 | €66,533 | €65,197 | -€1,336 | -2.0% |
| Financial charges | 65/66B | -€32,481 | €51,544 | +€84,024 | |
| Recurring financial charges | 65 | -€32,481 | €51,544 | +€84,024 | |
| Debt charges | 650 | €3,465 | €39,256 | +€35,791 | +1,033% |
| Write-downs on current assets other than stocks, contracts in progress and trade receivables: additions (reversals) | 651 | -€44,140 | €3,120 | +€47,261 | |
| Other financial charges | 652/9 | €8,194 | €9,168 | +€973 | +11.9% |
| Profit (loss) for the period before taxes | 9903 | €494,339 | €58,757 | -€435,582 | -88.1% |
| Income taxes | 67/77 | €13,753 | €7,861 | -€5,893 | -42.8% |
| Taxes | 670/3 | €13,753 | €7,861 | -€5,893 | -42.8% |
| Profit (loss) for the period | 9904 | €480,586 | €50,897 | -€429,689 | -89.4% |
| Profit (loss) for the period to be appropriated | 9905 | €480,586 | €50,897 | -€429,689 | -89.4% |
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 13 October 2026 via checked.be.