LESCO: 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.
LESCO
Largest movements
- Receivables after one year +€433,000
up €433,000 (+26.6%), from €1.6m to €2.1m
- Receivables within one year -€248,392
down €248,392 (-58.2%), from €426,699 to €178,307
of which Other amounts receivable: -€249,243
- Tangible fixed assets -€90,204
down €90,204 (-14.7%), from €614,784 to €524,580
of which Plant, machinery and equipment: -€54,757
- Reserves -€225,739
down €225,739 (-27.6%), from €818,442 to €592,703
of which Distributable reserves: -€189,993
- Short-term financial debts +€195,000
up €195,000 (+14.0%), from €1.4m to €1.6m
- Debts after one year +€110,102
new in 2025: €110,102
- Tax, wage and social debts +€38,839
up €38,839 (+637%), from €6,101 to €44,939
- Trade debts -€32,477
down €32,477 (-82.7%), from €39,256 to €6,780
- Gross operating margin +€52,989
up €52,989 (+14.5%), from €364,912 to €417,901
- Depreciation -€39,827
down €39,827 (-28.7%), from €138,582 to €98,755
- Taxes +€28,103
up €28,103 (+61.9%), from €45,410 to €73,513
- Other operating charges -€6,660
down €6,660 (-13.6%), from €48,823 to €42,162
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 | €2,723,218 | €2,801,033 | +€77,815 | +2.9% |
| Fixed assets | 21/28 | €614,952 | €524,748 | -€90,204 | -14.7% |
| Tangible fixed assets | 22/27 | €614,784 | €524,580 | -€90,204 | -14.7% |
| Land and buildings | 22 | €370,044 | €331,927 | -€38,117 | -10.3% |
| Plant, machinery and equipment | 23 | €244,529 | €189,772 | -€54,757 | -22.4% |
| Furniture and vehicles | 24 | €211 | €2,882 | +€2,671 | +1,265% |
| Financial fixed assets | 28 | €167 | €167 | = | 0.0% |
| Current assets | 29/58 | €2,108,266 | €2,276,286 | +€168,019 | +8.0% |
| Amounts receivable after more than one year | 29 | €1,626,000 | €2,059,000 | +€433,000 | +26.6% |
| Other amounts receivable | 291 | €1,626,000 | €2,059,000 | +€433,000 | +26.6% |
| Amounts receivable within one year | 40/41 | €426,699 | €178,307 | -€248,392 | -58.2% |
| Trade receivables | 40 | €12,996 | €13,847 | +€851 | +6.6% |
| Other amounts receivable | 41 | €413,703 | €164,460 | -€249,243 | -60.2% |
| Cash at bank and in hand | 54/58 | €52,393 | €37,564 | -€14,829 | -28.3% |
| Deferred charges and accrued income | 490/1 | €3,175 | €1,415 | -€1,759 | -55.4% |
| Total equity and liabilities | 10/49 | €2,723,218 | €2,801,033 | +€77,815 | +2.9% |
| Equity | 10/15 | €1,166,442 | €940,703 | -€225,739 | -19.4% |
| Contributions | 10/11 | €348,000 | €348,000 | = | 0.0% |
| Capital | 10 | €348,000 | €348,000 | = | 0.0% |
| Issued capital | 100 | €348,000 | €348,000 | = | 0.0% |
| Reserves | 13 | €818,442 | €592,703 | -€225,739 | -27.6% |
| Non-distributable reserves | 130/1 | €34,800 | €34,800 | = | 0.0% |
| Legal reserve | 130 | €34,800 | €34,800 | = | 0.0% |
| Tax-exempt reserves | 132 | €259,849 | €224,103 | -€35,746 | -13.8% |
| Distributable reserves | 133 | €523,793 | €333,800 | -€189,993 | -36.3% |
| Profit (loss) carried forward | 14 | - | €0 | = | |
| Provisions and deferred taxes | 16 | €53,066 | €41,151 | -€11,915 | -22.5% |
| Deferred taxes | 168 | €53,066 | €41,151 | -€11,915 | -22.5% |
| Amounts payable | 17/49 | €1,503,710 | €1,819,179 | +€315,470 | +21.0% |
| Amounts payable after more than one year | 17 | - | €110,102 | +€110,102 | |
| Financial debts | 170/4 | - | €110,102 | +€110,102 | |
| Amounts payable within one year | 42/48 | €1,455,357 | €1,670,085 | +€214,728 | +14.8% |
| Current portion of amounts payable after more than one year | 42 | €0 | €28,366 | +€28,366 | |
| Financial debts | 43 | €1,395,000 | €1,590,000 | +€195,000 | +14.0% |
| Credit institutions | 430/8 | €1,395,000 | €1,590,000 | +€195,000 | +14.0% |
| Trade debts | 44 | €39,256 | €6,780 | -€32,477 | -82.7% |
| Suppliers | 440/4 | €39,256 | €6,780 | -€32,477 | -82.7% |
| Taxes, remuneration and social security | 45 | €6,101 | €44,939 | +€38,839 | +637% |
| Taxes | 450/3 | €6,101 | €44,939 | +€38,839 | +637% |
| Other amounts payable | 47/48 | €15,000 | €0 | -€15,000 | -100% |
| Accrued charges and deferred income | 492/3 | €48,353 | €38,992 | -€9,361 | -19.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €138,582 | €98,755 | -€39,827 | -28.7% |
| Other operating charges | 640/8 | €48,823 | €42,162 | -€6,660 | -13.6% |
| Gross operating margin | 9900 | €364,912 | €417,901 | +€52,989 | +14.5% |
| Operating profit (loss) | 9901 | €177,507 | €276,984 | +€99,476 | +56.0% |
| Financial income | 75/76B | €38,907 | €38,194 | -€713 | -1.8% |
| Recurring financial income | 75 | €38,907 | €38,194 | -€713 | -1.8% |
| Financial charges | 65/66B | €79,115 | €79,319 | +€203 | +0.3% |
| Recurring financial charges | 65 | €79,115 | €79,319 | +€203 | +0.3% |
| Profit (loss) for the period before taxes | 9903 | €137,299 | €235,859 | +€98,560 | +71.8% |
| Transfer from deferred taxes | 780 | €11,915 | €11,915 | = | 0.0% |
| Income taxes | 67/77 | €45,410 | €73,513 | +€28,103 | +61.9% |
| Profit (loss) for the period | 9904 | €103,804 | €174,261 | +€70,457 | +67.9% |
| Transfer from tax-exempt reserves | 789 | €35,746 | €35,746 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €63,150 | €0 | -€63,150 | -100% |
| Profit (loss) for the period to be appropriated | 9905 | €76,400 | €210,007 | +€133,607 | +175% |
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 18 October 2026 via checked.be.