LODE DECLERCK: 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.
LODE DECLERCK
Largest movements
- Tangible fixed assets -€26,528
down €26,528 (-3.7%), from €724,070 to €697,542
of which Land and buildings: -€25,910
- Cash +€23,061
up €23,061 (+22.3%), from €103,550 to €126,611
mainly Net result for the year (+€49,401) and Depreciation (+€35,474)
- Debts after one year -€42,427
down €42,427 (-6.1%), from €698,554 to €656,128
- Other debts +€31,217
up €31,217 (+23.2%), from €134,802 to €166,019
- Reserves +€10,735
up €10,735 (+27.8%), from €38,666 to €49,401
- Other operating charges -€15,329
down €15,329 (-86.7%), from €17,672 to €2,343
- Gross operating margin +€9,602
up €9,602 (+8.6%), from €111,452 to €121,054
- Depreciation +€8,862
up €8,862 (+33.3%), from €26,612 to €35,474
- Financial charges +€3,823
up €3,823 (+29.6%), from €12,929 to €16,752
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 | €958,695 | €965,593 | +€6,898 | +0.7% |
| Fixed assets | 21/28 | €833,741 | €807,213 | -€26,528 | -3.2% |
| Tangible fixed assets | 22/27 | €724,070 | €697,542 | -€26,528 | -3.7% |
| Land and buildings | 22 | €655,008 | €629,099 | -€25,910 | -4.0% |
| Plant, machinery and equipment | 23 | €889 | €1,161 | +€272 | +30.6% |
| Furniture and vehicles | 24 | €7,655 | €8,330 | +€675 | +8.8% |
| Other tangible fixed assets | 26 | €60,517 | €58,953 | -€1,565 | -2.6% |
| Financial fixed assets | 28 | €109,671 | €109,671 | = | 0.0% |
| Current assets | 29/58 | €124,954 | €158,379 | +€33,425 | +26.8% |
| Amounts receivable within one year | 40/41 | €21,093 | €24,861 | +€3,767 | +17.9% |
| Trade receivables | 40 | €13,562 | €16,979 | +€3,417 | +25.2% |
| Other amounts receivable | 41 | €7,532 | €7,882 | +€351 | +4.7% |
| Cash at bank and in hand | 54/58 | €103,550 | €126,611 | +€23,061 | +22.3% |
| Deferred charges and accrued income | 490/1 | €311 | €6,908 | +€6,597 | +2,120% |
| Total equity and liabilities | 10/49 | €958,695 | €965,593 | +€6,898 | +0.7% |
| Equity | 10/15 | €58,666 | €69,401 | +€10,735 | +18.3% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Reserves | 13 | €38,666 | €49,401 | +€10,735 | +27.8% |
| Distributable reserves | 133 | €38,666 | €49,401 | +€10,735 | +27.8% |
| Amounts payable | 17/49 | €900,029 | €896,192 | -€3,838 | -0.4% |
| Amounts payable after more than one year | 17 | €698,554 | €656,128 | -€42,427 | -6.1% |
| Financial debts | 170/4 | €698,554 | €656,128 | -€42,427 | -6.1% |
| Amounts payable within one year | 42/48 | €198,702 | €237,579 | +€38,877 | +19.6% |
| Current portion of amounts payable after more than one year | 42 | €50,762 | €49,734 | -€1,029 | -2.0% |
| Financial debts | 43 | €298 | - | -€298 | |
| Other loans | 439 | €298 | - | -€298 | |
| Trade debts | 44 | €3,423 | €4,045 | +€623 | +18.2% |
| Suppliers | 440/4 | €3,423 | €4,045 | +€623 | +18.2% |
| Taxes, remuneration and social security | 45 | €9,417 | €17,782 | +€8,364 | +88.8% |
| Taxes | 450/3 | €9,417 | €13,666 | +€4,249 | +45.1% |
| Remuneration and social security | 454/9 | - | €4,116 | +€4,116 | |
| Other amounts payable | 47/48 | €134,802 | €166,019 | +€31,217 | +23.2% |
| Accrued charges and deferred income | 492/3 | €2,773 | €2,485 | -€288 | -10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €26,612 | €35,474 | +€8,862 | +33.3% |
| Other operating charges | 640/8 | €17,672 | €2,343 | -€15,329 | -86.7% |
| Gross operating margin | 9900 | €111,452 | €121,054 | +€9,602 | +8.6% |
| Operating profit (loss) | 9901 | €67,168 | €83,237 | +€16,069 | +23.9% |
| Financial income | 75/76B | €304 | €180 | -€124 | -40.9% |
| Recurring financial income | 75 | €304 | €180 | -€124 | -40.9% |
| Financial charges | 65/66B | €12,929 | €16,752 | +€3,823 | +29.6% |
| Recurring financial charges | 65 | €12,929 | €16,752 | +€3,823 | +29.6% |
| Profit (loss) for the period before taxes | 9903 | €54,543 | €66,665 | +€12,122 | +22.2% |
| Income taxes | 67/77 | €17,877 | €17,263 | -€614 | -3.4% |
| Profit (loss) for the period | 9904 | €36,666 | €49,401 | +€12,735 | +34.7% |
| Profit (loss) for the period to be appropriated | 9905 | €36,666 | €49,401 | +€12,735 | +34.7% |
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 13 October 2026 via checked.be.