LUC LE MENUISIER: 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.
LUC LE MENUISIER
Largest movements
- Tangible fixed assets +€81,845
up €81,845 (+159%), from €51,608 to €133,453
of which Furniture and vehicles: +€74,965
- Cash -€65,166
down €65,166 (-65.3%), from €99,740 to €34,574
mainly Investment in fixed assets (net) (-€104,951) and Current investments (-€21,500)
- Current investments +€21,500
new in 2025: €21,500
- Receivables within one year +€14,740
up €14,740 (+15.6%), from €94,207 to €108,947
of which Other amounts receivable: +€18,227
- Stocks and contracts -€14,642
no longer reported in 2025 (was €14,642)
- Debts after one year +€25,381
up €25,381 (+403%), from €6,294 to €31,675
- Reserves +€20,000
up €20,000 (+12.6%), from €159,158 to €179,158
of which Distributable reserves: +€20,000
- Tax, wage and social debts -€4,969
down €4,969 (-15.3%), from €32,431 to €27,462
of which Taxes: -€5,419
- Trade debts -€3,913
down €3,913 (-13.4%), from €29,192 to €25,279
- Gross operating margin -€73,915
down €73,915 (-57.3%), from €129,106 to €55,191
- Taxes -€27,703
down €27,703 (-81.2%), from €34,101 to €6,398
- Depreciation +€9,788
up €9,788 (+73.5%), from €13,319 to €23,107
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 | €262,092 | €299,859 | +€37,767 | +14.4% |
| Fixed assets | 21/28 | €51,608 | €133,453 | +€81,845 | +159% |
| Tangible fixed assets | 22/27 | €51,608 | €133,453 | +€81,845 | +159% |
| Land and buildings | 22 | €38,826 | €31,442 | -€7,384 | -19.0% |
| Plant, machinery and equipment | 23 | €155 | €14,418 | +€14,263 | +9,202% |
| Furniture and vehicles | 24 | €12,627 | €87,592 | +€74,965 | +594% |
| Current assets | 29/58 | €210,484 | €166,406 | -€44,078 | -20.9% |
| Stocks and contracts in progress | 3 | €14,642 | - | -€14,642 | |
| Stocks | 30/36 | €14,642 | - | -€14,642 | |
| Amounts receivable within one year | 40/41 | €94,207 | €108,947 | +€14,740 | +15.6% |
| Trade receivables | 40 | €92,444 | €88,957 | -€3,487 | -3.8% |
| Other amounts receivable | 41 | €1,763 | €19,990 | +€18,227 | +1,034% |
| Current investments | 50/53 | - | €21,500 | +€21,500 | |
| Cash at bank and in hand | 54/58 | €99,740 | €34,574 | -€65,166 | -65.3% |
| Deferred charges and accrued income | 490/1 | €1,895 | €1,385 | -€510 | -26.9% |
| Total equity and liabilities | 10/49 | €262,092 | €299,859 | +€37,767 | +14.4% |
| Equity | 10/15 | €179,618 | €200,034 | +€20,416 | +11.4% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €159,158 | €179,158 | +€20,000 | +12.6% |
| Tax-exempt reserves | 132 | €1,969 | €1,969 | -€0 | 0.0% |
| Distributable reserves | 133 | €157,189 | €177,189 | +€20,000 | +12.7% |
| Profit (loss) carried forward | 14 | - | €416 | +€416 | |
| Amounts payable | 17/49 | €82,474 | €99,824 | +€17,350 | +21.0% |
| Amounts payable after more than one year | 17 | €6,294 | €31,675 | +€25,381 | +403% |
| Financial debts | 170/4 | €6,294 | €31,675 | +€25,381 | +403% |
| Amounts payable within one year | 42/48 | €76,180 | €68,149 | -€8,031 | -10.5% |
| Current portion of amounts payable after more than one year | 42 | €12,690 | €14,630 | +€1,940 | +15.3% |
| Trade debts | 44 | €29,192 | €25,279 | -€3,913 | -13.4% |
| Suppliers | 440/4 | €29,192 | €25,279 | -€3,913 | -13.4% |
| Advances received on contracts in progress | 46 | - | €719 | +€719 | |
| Taxes, remuneration and social security | 45 | €32,431 | €27,462 | -€4,969 | -15.3% |
| Taxes | 450/3 | €29,881 | €24,462 | -€5,419 | -18.1% |
| Remuneration and social security | 454/9 | €2,550 | €3,000 | +€450 | +17.6% |
| Other amounts payable | 47/48 | €1,867 | €60 | -€1,807 | -96.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €13,319 | €23,107 | +€9,788 | +73.5% |
| Other operating charges | 640/8 | €2,562 | €2,816 | +€254 | +9.9% |
| Gross operating margin | 9900 | €129,106 | €55,191 | -€73,915 | -57.3% |
| Operating profit (loss) | 9901 | €113,225 | €29,268 | -€83,957 | -74.2% |
| Financial income | 75/76B | €18 | €4 | -€14 | -79.2% |
| Recurring financial income | 75 | €18 | €4 | -€14 | -79.2% |
| Financial charges | 65/66B | €1,709 | €2,458 | +€749 | +43.8% |
| Recurring financial charges | 65 | €1,709 | €2,458 | +€749 | +43.8% |
| Profit (loss) for the period before taxes | 9903 | €111,534 | €26,814 | -€84,720 | -76.0% |
| Income taxes | 67/77 | €34,101 | €6,398 | -€27,703 | -81.2% |
| Profit (loss) for the period | 9904 | €77,433 | €20,416 | -€57,017 | -73.6% |
| Profit (loss) for the period to be appropriated | 9905 | €77,433 | €20,416 | -€57,017 | -73.6% |
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 31 October 2026 via checked.be.