LESACO: 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.
LESACO
Largest movements
- Tangible fixed assets +€338,244
up €338,244 (+59.8%), from €565,603 to €903,847
of which Furniture and vehicles: +€351,173
- Receivables within one year +€124,320
up €124,320 (+20.5%), from €605,551 to €729,871
of which Trade receivables: +€75,004
- Cash +€40,354
up €40,354 (+7.7%), from €525,498 to €565,852
mainly Debts after one year (+€326,233) and Depreciation (+€231,226)
- Debts after one year +€326,233
up €326,233 (+1,284%), from €25,417 to €351,650
- Reserves +€171,058
up €171,058 (+19.4%), from €881,586 to €1.1m
- Current portion of long-term debt +€81,028
up €81,028 (+185%), from €43,750 to €124,778
- Trade debts -€57,801
down €57,801 (-25.7%), from €225,084 to €167,283
- Gross operating margin -€72,420
down €72,420 (-7.6%), from €954,445 to €882,025
- Staff costs +€57,916
up €57,916 (+17.7%), from €326,817 to €384,733
- Taxes -€57,369
down €57,369 (-45.2%), from €126,973 to €69,604
- Depreciation +€30,420
up €30,420 (+15.1%), from €200,806 to €231,226
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 | €1,721,828 | €2,243,861 | +€522,033 | +30.3% |
| Fixed assets | 21/28 | €565,603 | €903,847 | +€338,244 | +59.8% |
| Tangible fixed assets | 22/27 | €565,603 | €903,847 | +€338,244 | +59.8% |
| Plant, machinery and equipment | 23 | €111,396 | €80,818 | -€30,578 | -27.4% |
| Furniture and vehicles | 24 | €369,881 | €721,054 | +€351,173 | +94.9% |
| Other tangible fixed assets | 26 | €84,326 | €101,975 | +€17,649 | +20.9% |
| Current assets | 29/58 | €1,156,225 | €1,340,014 | +€183,789 | +15.9% |
| Stocks and contracts in progress | 3 | €16,250 | €28,600 | +€12,350 | +76.0% |
| Stocks | 30/36 | €16,250 | €28,600 | +€12,350 | +76.0% |
| Amounts receivable within one year | 40/41 | €605,551 | €729,871 | +€124,320 | +20.5% |
| Trade receivables | 40 | €433,123 | €508,127 | +€75,004 | +17.3% |
| Other amounts receivable | 41 | €172,428 | €221,744 | +€49,316 | +28.6% |
| Cash at bank and in hand | 54/58 | €525,498 | €565,852 | +€40,354 | +7.7% |
| Deferred charges and accrued income | 490/1 | €8,926 | €15,691 | +€6,765 | +75.8% |
| Total equity and liabilities | 10/49 | €1,721,828 | €2,243,861 | +€522,033 | +30.3% |
| Equity | 10/15 | €901,506 | €1,071,964 | +€170,458 | +18.9% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €881,586 | €1,052,644 | +€171,058 | +19.4% |
| Distributable reserves | 133 | €881,586 | €1,052,644 | +€171,058 | +19.4% |
| Investment grants | 15 | €1,320 | €720 | -€600 | -45.5% |
| Amounts payable | 17/49 | €820,322 | €1,171,897 | +€351,575 | +42.9% |
| Amounts payable after more than one year | 17 | €25,417 | €351,650 | +€326,233 | +1,284% |
| Financial debts | 170/4 | €25,417 | €351,650 | +€326,233 | +1,284% |
| Amounts payable within one year | 42/48 | €794,905 | €820,247 | +€25,342 | +3.2% |
| Current portion of amounts payable after more than one year | 42 | €43,750 | €124,778 | +€81,028 | +185% |
| Trade debts | 44 | €225,084 | €167,283 | -€57,801 | -25.7% |
| Suppliers | 440/4 | €225,084 | €167,283 | -€57,801 | -25.7% |
| Taxes, remuneration and social security | 45 | €103,194 | €105,897 | +€2,703 | +2.6% |
| Taxes | 450/3 | €62,774 | €53,208 | -€9,566 | -15.2% |
| Remuneration and social security | 454/9 | €40,420 | €52,689 | +€12,269 | +30.4% |
| Other amounts payable | 47/48 | €422,877 | €422,289 | -€588 | -0.1% |
| Remuneration, social security and pensions | 62 | €326,817 | €384,733 | +€57,916 | +17.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €200,806 | €231,226 | +€30,420 | +15.1% |
| Other operating charges | 640/8 | €17,598 | €13,380 | -€4,218 | -24.0% |
| Gross operating margin | 9900 | €954,445 | €882,025 | -€72,420 | -7.6% |
| Operating profit (loss) | 9901 | €409,224 | €252,686 | -€156,538 | -38.3% |
| Financial income | 75/76B | €6,086 | €2,075 | -€4,011 | -65.9% |
| Recurring financial income | 75 | €6,086 | €2,075 | -€4,011 | -65.9% |
| Financial charges | 65/66B | €5,369 | €14,098 | +€8,729 | +163% |
| Recurring financial charges | 65 | €5,369 | €14,098 | +€8,729 | +163% |
| Profit (loss) for the period before taxes | 9903 | €409,941 | €240,663 | -€169,278 | -41.3% |
| Income taxes | 67/77 | €126,973 | €69,604 | -€57,369 | -45.2% |
| Profit (loss) for the period | 9904 | €282,968 | €171,059 | -€111,909 | -39.5% |
| Profit (loss) for the period to be appropriated | 9905 | €282,968 | €171,059 | -€111,909 | -39.5% |
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 24 October 2026 via checked.be.