LESEINE CONSTRUCT BELGIUM: 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
LESEINE CONSTRUCT BELGIUM
NACE 43.222, Installation of electric heating, air conditioning, cooling and ventilation
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
-€23,675
2024 · -€19,393-€4,282
Equity
€258,983
2024 · €282,658-€23,675
Cash
€137,286
2024 · €139,217-€1,930
Balance sheet total
€510,605
2024 · €506,048+€4,557
Largest movements
Assets
- Stocks and contracts +€33,620
up €33,620 (+23.7%), from €141,664 to €175,284
- Tangible fixed assets -€15,909
down €15,909 (-11.0%), from €144,359 to €128,449
- Receivables within one year -€11,339
down €11,339 (-14.3%), from €79,184 to €67,845
of which Trade receivables: -€13,515
Equity and liabilities
- Trade debts +€34,349
up €34,349 (+61.4%), from €55,971 to €90,320
- Reserves -€23,675
down €23,675 (-24.5%), from €96,658 to €72,983
Income statement
- Write-downs +€8,734
new in 2025: €8,734
- Gross operating margin +€7,279
up €7,279 (+12.7%), from €57,514 to €64,794
- Staff costs +€1,904
up €1,904 (+3.7%), from €51,095 to €52,999
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
-€19,393
Gross operating margin
+€7,279
Staff costs
-€1,904
Depreciation
+€146
Write-downs
-€8,734
Other operating charges
-€305
Other operating items
-€315
Financial income
-€390
Financial charges
-€71
Taxes
+€12
Result 2025
-€23,675
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
+€6,405
Investment
-€5,139
Financing
-€3,196
Cash 2024
€139,217
From operations (derived)
+€6,405
Net result for the year
-€23,675
Depreciation
+€21,049
Stocks and contracts
-€33,620
Receivables within one year
+€11,339
Deferred charges and accrued income
-€115
Trade debts
+€34,349
Tax, wage and social debts
-€90
Other debts
-€2,831
Investment (derived)
-€5,139
Investment in fixed assets (net)
-€5,139
Financing
-€3,196
Debts after one year
-€3,196
Cash 2025
€137,286
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €506,048 | €510,605 | +€4,557 | +0.9% |
| Fixed assets | 21/28 | €144,409 | €128,499 | -€15,909 | -11.0% |
| Tangible fixed assets | 22/27 | €144,359 | €128,449 | -€15,909 | -11.0% |
| Land and buildings | 22 | €105,331 | €97,867 | -€7,464 | -7.1% |
| Plant, machinery and equipment | 23 | €33,625 | €30,237 | -€3,388 | -10.1% |
| Furniture and vehicles | 24 | €5,403 | €345 | -€5,058 | -93.6% |
| Financial fixed assets | 28 | €50 | €50 | = | 0.0% |
| Current assets | 29/58 | €361,639 | €382,106 | +€20,467 | +5.7% |
| Stocks and contracts in progress | 3 | €141,664 | €175,284 | +€33,620 | +23.7% |
| Stocks | 30/36 | €141,664 | €175,284 | +€33,620 | +23.7% |
| Amounts receivable within one year | 40/41 | €79,184 | €67,845 | -€11,339 | -14.3% |
| Trade receivables | 40 | €79,184 | €65,669 | -€13,515 | -17.1% |
| Other amounts receivable | 41 | - | €2,176 | +€2,176 | |
| Cash at bank and in hand | 54/58 | €139,217 | €137,286 | -€1,930 | -1.4% |
| Deferred charges and accrued income | 490/1 | €1,575 | €1,690 | +€115 | +7.3% |
| Total equity and liabilities | 10/49 | €506,048 | €510,605 | +€4,557 | +0.9% |
| Equity | 10/15 | €282,658 | €258,983 | -€23,675 | -8.4% |
| Contributions | 10/11 | €186,000 | €186,000 | = | 0.0% |
| Reserves | 13 | €96,658 | €72,983 | -€23,675 | -24.5% |
| Distributable reserves | 133 | €96,658 | €72,983 | -€23,675 | -24.5% |
| Amounts payable | 17/49 | €223,390 | €251,622 | +€28,232 | +12.6% |
| Amounts payable after more than one year | 17 | €150,000 | €146,804 | -€3,196 | -2.1% |
| Other amounts payable | 178/9 | €150,000 | €146,804 | -€3,196 | -2.1% |
| Amounts payable within one year | 42/48 | €73,390 | €104,818 | +€31,429 | +42.8% |
| Trade debts | 44 | €55,971 | €90,320 | +€34,349 | +61.4% |
| Suppliers | 440/4 | €55,971 | €90,320 | +€34,349 | +61.4% |
| Taxes, remuneration and social security | 45 | €14,589 | €14,499 | -€90 | -0.6% |
| Taxes | 450/3 | €5,432 | €4,680 | -€752 | -13.8% |
| Remuneration and social security | 454/9 | €9,156 | €9,819 | +€662 | +7.2% |
| Other amounts payable | 47/48 | €2,831 | - | -€2,831 | |
| Remuneration, social security and pensions | 62 | €51,095 | €52,999 | +€1,904 | +3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €21,194 | €21,049 | -€146 | -0.7% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | - | €8,734 | +€8,734 | |
| Other operating charges | 640/8 | €3,967 | €4,273 | +€305 | +7.7% |
| Non-recurring operating charges | 66A | - | €315 | +€315 | |
| Gross operating margin | 9900 | €57,514 | €64,794 | +€7,279 | +12.7% |
| Operating profit (loss) | 9901 | -€18,742 | -€22,575 | -€3,833 | -20.5% |
| Financial income | 75/76B | €474 | €83 | -€390 | -82.4% |
| Recurring financial income | 75 | €474 | €83 | -€390 | -82.4% |
| Financial charges | 65/66B | €537 | €608 | +€71 | +13.2% |
| Recurring financial charges | 65 | €537 | €568 | +€31 | +5.8% |
| Non-recurring financial charges | 66B | - | €40 | +€40 | |
| Profit (loss) for the period before taxes | 9903 | -€18,806 | -€23,100 | -€4,294 | -22.8% |
| Income taxes | 67/77 | €587 | €575 | -€12 | -2.1% |
| Profit (loss) for the period | 9904 | -€19,393 | -€23,675 | -€4,282 | -22.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€19,393 | -€23,675 | -€4,282 | -22.1% |
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 28 October 2026 via checked.be.