Leutenez E&M Pigeons: 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.
Leutenez E&M Pigeons
Largest movements
- Tangible fixed assets +€65,446
up €65,446 (+94.0%), from €69,660 to €135,106
of which Other tangible fixed assets: +€63,071
- Stocks and contracts -€8,400
down €8,400 (-9.0%), from €92,900 to €84,500
- Debts after one year +€42,247
up €42,247 (+86.4%), from €48,877 to €91,124
- Short-term financial debts +€6,042
up €6,042 (+40.0%), from €15,122 to €21,164
- Tax, wage and social debts +€5,657
up €5,657 (+126%), from €4,476 to €10,133
of which Remuneration and social security: +€4,695
- Gross operating margin +€66,368
up €66,368, from -€13,235 to €53,133
- Staff costs +€14,034
up €14,034 (+123%), from €11,410 to €25,444
- Depreciation +€4,821
up €4,821 (+44.4%), from €10,871 to €15,693
- Financial charges +€3,383
up €3,383 (+72.4%), from €4,676 to €8,059
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
Cash or the result is not a separate line in both sets of accounts; the cash flow cannot be derived from them.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €166,115 | €222,529 | +€56,414 | +34.0% |
| Fixed assets | 21/28 | €69,860 | €135,306 | +€65,446 | +93.7% |
| Tangible fixed assets | 22/27 | €69,660 | €135,106 | +€65,446 | +94.0% |
| Plant, machinery and equipment | 23 | €1,628 | €1,257 | -€371 | -22.8% |
| Furniture and vehicles | 24 | €1,517 | €4,264 | +€2,746 | +181% |
| Other tangible fixed assets | 26 | €66,515 | €129,586 | +€63,071 | +94.8% |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €96,254 | €87,223 | -€9,031 | -9.4% |
| Stocks and contracts in progress | 3 | €92,900 | €84,500 | -€8,400 | -9.0% |
| Stocks | 30/36 | €92,900 | €84,500 | -€8,400 | -9.0% |
| Amounts receivable within one year | 40/41 | €172 | €4 | -€168 | -97.8% |
| Trade receivables | 40 | €2 | €4 | +€2 | +84.1% |
| Other amounts receivable | 41 | €170 | €0 | -€170 | -100% |
| Deferred charges and accrued income | 490/1 | €3,183 | €2,719 | -€464 | -14.6% |
| Total equity and liabilities | 10/49 | €166,115 | €222,529 | +€56,414 | +34.0% |
| Equity | 10/15 | €73,678 | €74,913 | +€1,236 | +1.7% |
| Contributions | 10/11 | €18,550 | €18,550 | = | 0.0% |
| Reserves | 13 | €113,413 | €113,413 | = | 0.0% |
| Distributable reserves | 133 | €113,413 | €113,413 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€58,285 | -€57,050 | +€1,236 | +2.1% |
| Amounts payable | 17/49 | €92,437 | €147,616 | +€55,179 | +59.7% |
| Amounts payable after more than one year | 17 | €48,877 | €91,124 | +€42,247 | +86.4% |
| Financial debts | 170/4 | €48,877 | €91,124 | +€42,247 | +86.4% |
| Amounts payable within one year | 42/48 | €43,560 | €56,492 | +€12,932 | +29.7% |
| Current portion of amounts payable after more than one year | 42 | €14,172 | €14,772 | +€600 | +4.2% |
| Financial debts | 43 | €15,122 | €21,164 | +€6,042 | +40.0% |
| Credit institutions | 430/8 | €15,122 | €21,164 | +€6,042 | +40.0% |
| Trade debts | 44 | €6,260 | €6,747 | +€487 | +7.8% |
| Suppliers | 440/4 | €6,260 | €6,747 | +€487 | +7.8% |
| Taxes, remuneration and social security | 45 | €4,476 | €10,133 | +€5,657 | +126% |
| Taxes | 450/3 | €811 | €1,773 | +€962 | +119% |
| Remuneration and social security | 454/9 | €3,665 | €8,360 | +€4,695 | +128% |
| Other amounts payable | 47/48 | €3,531 | €3,677 | +€146 | +4.1% |
| Non-recurring operating income | 76A | €4,959 | €0 | -€4,959 | -100% |
| Remuneration, social security and pensions | 62 | €11,410 | €25,444 | +€14,034 | +123% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €10,871 | €15,693 | +€4,821 | +44.4% |
| Other operating charges | 640/8 | €1,785 | €2,156 | +€371 | +20.8% |
| Gross operating margin | 9900 | -€13,235 | €53,133 | +€66,368 | |
| Operating profit (loss) | 9901 | -€37,301 | €9,841 | +€47,142 | |
| Financial income | 75/76B | - | €45 | +€45 | |
| Recurring financial income | 75 | - | €45 | +€45 | |
| Financial charges | 65/66B | €4,676 | €8,059 | +€3,383 | +72.4% |
| Recurring financial charges | 65 | €4,676 | €8,059 | +€3,383 | +72.4% |
| Profit (loss) for the period before taxes | 9903 | -€41,977 | €1,827 | +€43,804 | |
| Income taxes | 67/77 | €811 | €592 | -€219 | -27.0% |
| Profit (loss) for the period | 9904 | -€42,788 | €1,236 | +€44,023 | |
| Profit (loss) for the period to be appropriated | 9905 | -€42,788 | €1,236 | +€44,023 |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 21 October 2026 via checked.be.