LRE CAPITAL: 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.
LRE CAPITAL
Largest movements
- Tangible fixed assets +€363,608
up €363,608 (+35.0%), from €1.0m to €1.4m
- Cash -€52,366
down €52,366 (-63.7%), from €82,265 to €29,899
mainly Investment in fixed assets (net) (-€400,000) and Debts after one year (-€109,597)
- Receivables within one year -€31,711
down €31,711 (-67.7%), from €46,874 to €15,163
of which Trade receivables: -€31,711
- Revaluation surpluses +€400,000
new in 2025: €400,000
- Debts after one year -€109,597
down €109,597 (-11.5%), from €953,751 to €844,154
- Current portion of long-term debt +€99,068
up €99,068 (+377%), from €26,249 to €125,317
- Profit (loss) carried forward -€84,421
down €84,421 (-44.9%), from -€188,128 to -€272,549
- Trade debts -€29,394
down €29,394 (-67.3%), from €43,680 to €14,286
- Depreciation -€138,450
down €138,450 (-79.2%), from €174,842 to €36,392
- Gross operating margin -€14,125
down €14,125 (-23.4%), from €60,492 to €46,366
- Other operating charges +€13,991
up €13,991 (+34.3%), from €40,784 to €54,775
- Financial charges +€6,626
up €6,626 (+20.1%), from €32,994 to €39,620
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 | €1,210,762 | €1,480,105 | +€269,343 | +22.2% |
| Fixed assets | 21/28 | €1,037,657 | €1,401,265 | +€363,608 | +35.0% |
| Tangible fixed assets | 22/27 | €1,037,657 | €1,401,265 | +€363,608 | +35.0% |
| Land and buildings | 22 | €1,037,657 | €1,401,265 | +€363,608 | +35.0% |
| Current assets | 29/58 | €173,104 | €78,839 | -€94,265 | -54.5% |
| Amounts receivable within one year | 40/41 | €46,874 | €15,163 | -€31,711 | -67.7% |
| Trade receivables | 40 | €46,874 | €15,163 | -€31,711 | -67.7% |
| Other amounts receivable | 41 | €0 | €0 | = | |
| Cash at bank and in hand | 54/58 | €82,265 | €29,899 | -€52,366 | -63.7% |
| Deferred charges and accrued income | 490/1 | €43,966 | €33,778 | -€10,188 | -23.2% |
| Total equity and liabilities | 10/49 | €1,210,762 | €1,480,105 | +€269,343 | +22.2% |
| Equity | 10/15 | -€186,128 | €129,451 | +€315,579 | |
| Contributions | 10/11 | €2,000 | €2,000 | = | 0.0% |
| Revaluation surpluses | 12 | - | €400,000 | +€400,000 | |
| Profit (loss) carried forward | 14 | -€188,128 | -€272,549 | -€84,421 | -44.9% |
| Amounts payable | 17/49 | €1,396,890 | €1,350,653 | -€46,236 | -3.3% |
| Amounts payable after more than one year | 17 | €953,751 | €844,154 | -€109,597 | -11.5% |
| Financial debts | 170/4 | €953,751 | €844,154 | -€109,597 | -11.5% |
| Amounts payable within one year | 42/48 | €440,213 | €503,608 | +€63,395 | +14.4% |
| Current portion of amounts payable after more than one year | 42 | €26,249 | €125,317 | +€99,068 | +377% |
| Trade debts | 44 | €43,680 | €14,286 | -€29,394 | -67.3% |
| Suppliers | 440/4 | €43,680 | €14,286 | -€29,394 | -67.3% |
| Taxes, remuneration and social security | 45 | €17,684 | €9,925 | -€7,759 | -43.9% |
| Taxes | 450/3 | €17,684 | €9,925 | -€7,759 | -43.9% |
| Other amounts payable | 47/48 | €352,600 | €354,080 | +€1,480 | +0.4% |
| Accrued charges and deferred income | 492/3 | €2,926 | €2,891 | -€35 | -1.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €174,842 | €36,392 | -€138,450 | -79.2% |
| Other operating charges | 640/8 | €40,784 | €54,775 | +€13,991 | +34.3% |
| Gross operating margin | 9900 | €60,492 | €46,366 | -€14,125 | -23.4% |
| Operating profit (loss) | 9901 | -€155,135 | -€44,801 | +€110,333 | +71.1% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €32,994 | €39,620 | +€6,626 | +20.1% |
| Recurring financial charges | 65 | €32,994 | €39,620 | +€6,626 | +20.1% |
| Profit (loss) for the period before taxes | 9903 | -€188,128 | -€84,421 | +€103,707 | +55.1% |
| Profit (loss) for the period | 9904 | -€188,128 | -€84,421 | +€103,707 | +55.1% |
| Profit (loss) for the period to be appropriated | 9905 | -€188,128 | -€84,421 | +€103,707 | +55.1% |
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 20 October 2026 via checked.be.