LESS ET FILS: what changed
LESS ET FILS
Largest movements
- Current investments +€100,000
up €100,000 (+118%), from €85,000 to €185,000
- Tangible fixed assets +€7,113
up €7,113 (+43.1%), from €16,495 to €23,608
- Cash -€5,225
down €5,225 (-5.2%), from €100,969 to €95,744
mainly Contributions, distributions and other (-€131,776) and Current investments (-€100,000)
- Other debts +€120,619
up €120,619 (+64.7%), from €186,429 to €307,048
- Current portion of long-term debt -€38,918
no longer reported in 2025 (was €38,918)
- Trade debts +€12,126
up €12,126 (+61.3%), from €19,770 to €31,896
- Tax, wage and social debts +€5,220
up €5,220 (+25.1%), from €20,822 to €26,042
- Gross operating margin +€49,369
up €49,369 (+37.7%), from €131,036 to €180,405
- Depreciation -€25,203
down €25,203 (-74.4%), from €33,887 to €8,683
- Taxes -€9,485
down €9,485 (-21.6%), from €43,939 to €34,454
- Other operating charges -€4,137
down €4,137 (-50.4%), from €8,208 to €4,071
- Financial charges +€1,862
up €1,862 (+301%), from €619 to €2,480
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €295,683 | €394,730 | +€99,047 | +33.5% |
| Fixed assets | 21/28 | €16,495 | €23,608 | +€7,113 | +43.1% |
| Tangible fixed assets | 22/27 | €16,495 | €23,608 | +€7,113 | +43.1% |
| Furniture and vehicles | 24 | €16,495 | €23,608 | +€7,113 | +43.1% |
| Current assets | 29/58 | €279,188 | €371,121 | +€91,933 | +32.9% |
| Amounts receivable within one year | 40/41 | €86,619 | €86,456 | -€163 | -0.2% |
| Trade receivables | 40 | €63,045 | €66,121 | +€3,076 | +4.9% |
| Other amounts receivable | 41 | €23,574 | €20,335 | -€3,239 | -13.7% |
| Current investments | 50/53 | €85,000 | €185,000 | +€100,000 | +118% |
| Cash at bank and in hand | 54/58 | €100,969 | €95,744 | -€5,225 | -5.2% |
| Deferred charges and accrued income | 490/1 | €6,600 | €3,921 | -€2,679 | -40.6% |
| Total equity and liabilities | 10/49 | €295,683 | €394,730 | +€99,047 | +33.5% |
| Equity | 10/15 | €29,744 | €29,744 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €11,144 | €11,144 | = | 0.0% |
| Non-distributable reserves | 130/1 | €4,707 | €4,707 | = | 0.0% |
| Reserves not available under the articles | 1311 | €4,707 | €4,707 | = | 0.0% |
| Distributable reserves | 133 | €6,437 | €6,437 | = | 0.0% |
| Amounts payable | 17/49 | €265,939 | €364,986 | +€99,047 | +37.2% |
| Amounts payable within one year | 42/48 | €265,939 | €364,986 | +€99,047 | +37.2% |
| Current portion of amounts payable after more than one year | 42 | €38,918 | - | -€38,918 | |
| Trade debts | 44 | €19,770 | €31,896 | +€12,126 | +61.3% |
| Suppliers | 440/4 | €19,770 | €31,896 | +€12,126 | +61.3% |
| Taxes, remuneration and social security | 45 | €20,822 | €26,042 | +€5,220 | +25.1% |
| Taxes | 450/3 | €20,822 | €26,042 | +€5,220 | +25.1% |
| Other amounts payable | 47/48 | €186,429 | €307,048 | +€120,619 | +64.7% |
| Remuneration, social security and pensions | 62 | €31 | €75 | +€44 | +139% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €33,887 | €8,683 | -€25,203 | -74.4% |
| Other operating charges | 640/8 | €8,208 | €4,071 | -€4,137 | -50.4% |
| Gross operating margin | 9900 | €131,036 | €180,405 | +€49,369 | +37.7% |
| Operating profit (loss) | 9901 | €88,910 | €167,576 | +€78,665 | +88.5% |
| Financial income | 75/76B | €10 | €1,135 | +€1,125 | +11,050% |
| Recurring financial income | 75 | €10 | €1,135 | +€1,125 | +11,050% |
| Financial charges | 65/66B | €619 | €2,480 | +€1,862 | +301% |
| Recurring financial charges | 65 | €619 | €2,480 | +€1,862 | +301% |
| Profit (loss) for the period before taxes | 9903 | €88,302 | €166,230 | +€77,928 | +88.3% |
| Income taxes | 67/77 | €43,939 | €34,454 | -€9,485 | -21.6% |
| Profit (loss) for the period | 9904 | €44,363 | €131,776 | +€87,413 | +197% |
| Profit (loss) for the period to be appropriated | 9905 | €44,363 | €131,776 | +€87,413 | +197% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.