LETOILE: 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.
LETOILE
Largest movements
- Stocks and contracts -€162,155
down €162,155 (-35.4%), from €457,905 to €295,750
- Tangible fixed assets -€82,047
down €82,047 (-16.6%), from €494,210 to €412,163
- Cash -€63,766
down €63,766 (-81.2%), from €78,572 to €14,806
mainly Net result for the year (-€679,182) and Investment in fixed assets (net) (-€8,017)
- Profit (loss) carried forward -€679,182
down €679,182 (-40.0%), from -€1.7m to -€2.4m
- Other debts +€380,941
up €380,941 (+21.0%), from €1.8m to €2.2m
- Gross operating margin -€462,383
down €462,383 (-1,875%), from -€24,657 to -€487,040
- Staff costs +€34,587
up €34,587 (+59.9%), from €57,755 to €92,342
- Depreciation -€9,522
down €9,522 (-9.6%), from €99,585 to €90,063
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 | €1,042,766 | €740,229 | -€302,537 | -29.0% |
| Fixed assets | 21/28 | €494,210 | €412,163 | -€82,047 | -16.6% |
| Tangible fixed assets | 22/27 | €494,210 | €412,163 | -€82,047 | -16.6% |
| Land and buildings | 22 | €219,639 | €180,572 | -€39,068 | -17.8% |
| Plant, machinery and equipment | 23 | €112,468 | €82,466 | -€30,003 | -26.7% |
| Furniture and vehicles | 24 | €162,102 | €149,126 | -€12,976 | -8.0% |
| Current assets | 29/58 | €548,556 | €328,066 | -€220,490 | -40.2% |
| Stocks and contracts in progress | 3 | €457,905 | €295,750 | -€162,155 | -35.4% |
| Stocks | 30/36 | €457,905 | €295,750 | -€162,155 | -35.4% |
| Amounts receivable within one year | 40/41 | €12,079 | €13,236 | +€1,156 | +9.6% |
| Trade receivables | 40 | - | €637 | +€637 | |
| Other amounts receivable | 41 | €12,079 | €12,598 | +€519 | +4.3% |
| Cash at bank and in hand | 54/58 | €78,572 | €14,806 | -€63,766 | -81.2% |
| Deferred charges and accrued income | 490/1 | - | €4,275 | +€4,275 | |
| Total equity and liabilities | 10/49 | €1,042,766 | €740,229 | -€302,537 | -29.0% |
| Equity | 10/15 | -€774,858 | -€1,454,039 | -€679,182 | -87.7% |
| Contributions | 10/11 | €798,000 | €798,000 | = | 0.0% |
| Reserves | 13 | €124,782 | €124,782 | = | 0.0% |
| Non-distributable reserves | 130/1 | €12,000 | €12,000 | = | 0.0% |
| Reserves not available under the articles | 1311 | €12,000 | €12,000 | = | 0.0% |
| Distributable reserves | 133 | €112,782 | €112,782 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€1,697,640 | -€2,376,821 | -€679,182 | -40.0% |
| Amounts payable | 17/49 | €1,817,623 | €2,194,268 | +€376,645 | +20.7% |
| Amounts payable within one year | 42/48 | €1,817,623 | €2,194,268 | +€376,645 | +20.7% |
| Trade debts | 44 | €4,300 | - | -€4,300 | |
| Suppliers | 440/4 | €4,300 | - | -€4,300 | |
| Taxes, remuneration and social security | 45 | €159 | €163 | +€4 | +2.5% |
| Taxes | 450/3 | €159 | €163 | +€4 | +2.5% |
| Other amounts payable | 47/48 | €1,813,164 | €2,194,105 | +€380,941 | +21.0% |
| Remuneration, social security and pensions | 62 | €57,755 | €92,342 | +€34,587 | +59.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €99,585 | €90,063 | -€9,522 | -9.6% |
| Other operating charges | 640/8 | €9,236 | €9,516 | +€279 | +3.0% |
| Gross operating margin | 9900 | -€24,657 | -€487,040 | -€462,383 | -1,875% |
| Operating profit (loss) | 9901 | -€191,234 | -€678,961 | -€487,727 | -255% |
| Financial income | 75/76B | €11 | €157 | +€146 | +1,350% |
| Recurring financial income | 75 | €11 | €157 | +€146 | +1,350% |
| Financial charges | 65/66B | €529 | €214 | -€315 | -59.6% |
| Recurring financial charges | 65 | €529 | €214 | -€315 | -59.6% |
| Profit (loss) for the period before taxes | 9903 | -€191,752 | -€679,018 | -€487,266 | -254% |
| Income taxes | 67/77 | €159 | €163 | +€4 | +2.5% |
| Profit (loss) for the period | 9904 | -€191,911 | -€679,182 | -€487,270 | -254% |
| Profit (loss) for the period to be appropriated | 9905 | -€191,911 | -€679,182 | -€487,270 | -254% |
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 15 October 2026 via checked.be.