Létude: 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.
Létude
Largest movements
- Stocks and contracts -€12,962
down €12,962 (-16.2%), from €79,971 to €67,009
- Cash -€6,558
down €6,558 (-34.9%), from €18,793 to €12,235
mainly Other debts (-€16,923) and Tax, wage and social debts (-€9,658)
- Receivables within one year +€1,271
new in 2026: €1,271
- Other debts -€16,923
down €16,923 (-47.5%), from €35,637 to €18,714
- Tax, wage and social debts -€9,658
down €9,658 (-82.0%), from €11,776 to €2,118
- Short-term financial debts +€8,325
up €8,325, from €0 to €8,325
- Trade debts -€1,030
down €1,030 (-53.5%), from €1,926 to €896
- Gross operating margin -€6,475
down €6,475 (-49.8%), from €13,004 to €6,529
- Taxes -€2,577
down €2,577 (-64.2%), from €4,016 to €1,439
- Other operating charges +€1,361
up €1,361 (+119%), from €1,139 to €2,499
- Depreciation -€1,013
down €1,013 (-100%), from €1,013 to €0
- Financial charges +€206
up €206 (+9.3%), from €2,217 to €2,423
From the 2025 result to the 2026 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 2025 and 2026 balance sheets and the 2026 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €101,454 | €82,335 | -€19,118 | -18.8% |
| Fixed assets | 21/28 | €0 | - | = | |
| Tangible fixed assets | 22/27 | €0 | - | = | |
| Furniture and vehicles | 24 | €0 | - | = | |
| Current assets | 29/58 | €101,454 | €82,335 | -€19,118 | -18.8% |
| Stocks and contracts in progress | 3 | €79,971 | €67,009 | -€12,962 | -16.2% |
| Stocks | 30/36 | €79,971 | €67,009 | -€12,962 | -16.2% |
| Amounts receivable within one year | 40/41 | - | €1,271 | +€1,271 | |
| Trade receivables | 40 | - | €1,271 | +€1,271 | |
| Cash at bank and in hand | 54/58 | €18,793 | €12,235 | -€6,558 | -34.9% |
| Deferred charges and accrued income | 490/1 | €2,689 | €1,820 | -€869 | -32.3% |
| Total equity and liabilities | 10/49 | €101,454 | €82,335 | -€19,118 | -18.8% |
| Equity | 10/15 | €52,114 | €52,282 | +€168 | +0.3% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €39,714 | €39,882 | +€168 | +0.4% |
| Non-distributable reserves | 130/1 | €1,860 | €0 | -€1,860 | -100% |
| Reserves not available under the articles | 1311 | €1,860 | €0 | -€1,860 | -100% |
| Distributable reserves | 133 | €37,854 | €39,882 | +€2,028 | +5.4% |
| Amounts payable | 17/49 | €49,339 | €30,053 | -€19,286 | -39.1% |
| Amounts payable within one year | 42/48 | €49,339 | €30,053 | -€19,286 | -39.1% |
| Financial debts | 43 | €0 | €8,325 | +€8,325 | |
| Credit institutions | 430/8 | €0 | €8,325 | +€8,325 | |
| Trade debts | 44 | €1,926 | €896 | -€1,030 | -53.5% |
| Suppliers | 440/4 | €1,926 | €896 | -€1,030 | -53.5% |
| Taxes, remuneration and social security | 45 | €11,776 | €2,118 | -€9,658 | -82.0% |
| Taxes | 450/3 | €11,776 | €2,118 | -€9,658 | -82.0% |
| Other amounts payable | 47/48 | €35,637 | €18,714 | -€16,923 | -47.5% |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,013 | €0 | -€1,013 | -100% |
| Other operating charges | 640/8 | €1,139 | €2,499 | +€1,361 | +119% |
| Gross operating margin | 9900 | €13,004 | €6,529 | -€6,475 | -49.8% |
| Operating profit (loss) | 9901 | €10,852 | €4,029 | -€6,823 | -62.9% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €2,217 | €2,423 | +€206 | +9.3% |
| Recurring financial charges | 65 | €2,217 | €2,423 | +€206 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €8,635 | €1,606 | -€7,029 | -81.4% |
| Income taxes | 67/77 | €4,016 | €1,439 | -€2,577 | -64.2% |
| Profit (loss) for the period | 9904 | €4,619 | €168 | -€4,451 | -96.4% |
| Profit (loss) for the period to be appropriated | 9905 | €4,619 | €168 | -€4,451 | -96.4% |
Source: filed annual accounts (NBB), financial years ended 31 January 2025 and 31 January 2026. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 25 October 2026 via checked.be.