MARC LELIEVRE: what changed
What changed
MARC LELIEVRE
NACE 69.201, Certified accountants and tax accountants
filed annual accounts (NBB)
Net result for the year
€38,237
2025 · €11,917+€26,320
Equity
€97,839
2025 · €97,381+€458
Cash
€50,140
2025 · €50,603-€463
Balance sheet total
€351,570
2025 · €387,982-€36,412
Largest movements
Assets
- Tangible fixed assets -€27,054
down €27,054 (-8.7%), from €310,626 to €283,572
of which Land and buildings: -€15,368
- Receivables within one year -€10,318
down €10,318 (-43.4%), from €23,767 to €13,449
of which Other amounts receivable: -€11,349
Equity and liabilities
- Debts after one year -€53,267
down €53,267 (-22.7%), from €235,147 to €181,880
- Tax, wage and social debts +€7,699
up €7,699 (+375%), from €2,054 to €9,753
- Trade debts +€6,352
up €6,352 (+439%), from €1,448 to €7,799
Income statement
- Gross operating margin +€29,822
up €29,822 (+47.0%), from €63,394 to €93,216
- Taxes +€9,578
up €9,578 (+125%), from €7,692 to €17,270
- Other operating charges -€2,847
down €2,847 (-62.4%), from €4,560 to €1,713
- Depreciation -€1,939
down €1,939 (-6.5%), from €29,873 to €27,933
- Financial charges -€1,245
down €1,245 (-13.3%), from €9,353 to €8,108
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
€11,917
Gross operating margin
+€29,822
Depreciation
+€1,939
Other operating charges
+€2,847
Financial income
+€45
Financial charges
+€1,245
Taxes
-€9,578
Result 2026
€38,237
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€90,147
Investment
-€879
Financing
-€89,731
Cash 2025
€50,603
From operations (derived)
+€90,147
Net result for the year
+€38,237
Depreciation
+€27,933
Receivables within one year
+€10,318
Deferred charges and accrued income
-€1,423
Trade debts
+€6,352
Tax, wage and social debts
+€7,699
Accrued charges and deferred income
+€1,032
Investment (derived)
-€879
Investment in fixed assets (net)
-€879
Financing
-€89,731
Debts after one year
-€53,267
Current portion of long-term debt
+€1,315
Contributions, distributions and other
-€37,779
Cash 2026
€50,140
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €387,982 | €351,570 | -€36,412 | -9.4% |
| Fixed assets | 21/28 | €310,651 | €283,596 | -€27,054 | -8.7% |
| Tangible fixed assets | 22/27 | €310,626 | €283,572 | -€27,054 | -8.7% |
| Land and buildings | 22 | €266,667 | €251,299 | -€15,368 | -5.8% |
| Furniture and vehicles | 24 | €40,623 | €28,936 | -€11,686 | -28.8% |
| Other tangible fixed assets | 26 | €3,337 | €3,337 | = | 0.0% |
| Financial fixed assets | 28 | €25 | €25 | = | 0.0% |
| Current assets | 29/58 | €77,331 | €67,974 | -€9,358 | -12.1% |
| Amounts receivable within one year | 40/41 | €23,767 | €13,449 | -€10,318 | -43.4% |
| Trade receivables | 40 | - | €1,032 | +€1,032 | |
| Other amounts receivable | 41 | €23,767 | €12,418 | -€11,349 | -47.8% |
| Cash at bank and in hand | 54/58 | €50,603 | €50,140 | -€463 | -0.9% |
| Deferred charges and accrued income | 490/1 | €2,962 | €4,384 | +€1,423 | +48.0% |
| Total equity and liabilities | 10/49 | €387,982 | €351,570 | -€36,412 | -9.4% |
| Equity | 10/15 | €97,381 | €97,839 | +€458 | +0.5% |
| Contributions | 10/11 | €1 | €1 | = | 0.0% |
| Reserves | 13 | €97,380 | €97,838 | +€458 | +0.5% |
| Distributable reserves | 133 | €97,380 | €97,838 | +€458 | +0.5% |
| Amounts payable | 17/49 | €290,601 | €253,731 | -€36,870 | -12.7% |
| Amounts payable after more than one year | 17 | €235,147 | €181,880 | -€53,267 | -22.7% |
| Financial debts | 170/4 | €235,147 | €181,880 | -€53,267 | -22.7% |
| Amounts payable within one year | 42/48 | €55,454 | €70,819 | +€15,365 | +27.7% |
| Current portion of amounts payable after more than one year | 42 | €51,952 | €53,267 | +€1,315 | +2.5% |
| Trade debts | 44 | €1,448 | €7,799 | +€6,352 | +439% |
| Suppliers | 440/4 | €1,448 | €7,799 | +€6,352 | +439% |
| Taxes, remuneration and social security | 45 | €2,054 | €9,753 | +€7,699 | +375% |
| Taxes | 450/3 | €2,054 | €9,753 | +€7,699 | +375% |
| Accrued charges and deferred income | 492/3 | - | €1,032 | +€1,032 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €29,873 | €27,933 | -€1,939 | -6.5% |
| Other operating charges | 640/8 | €4,560 | €1,713 | -€2,847 | -62.4% |
| Gross operating margin | 9900 | €63,394 | €93,216 | +€29,822 | +47.0% |
| Operating profit (loss) | 9901 | €28,962 | €63,570 | +€34,608 | +119% |
| Financial income | 75/76B | €0 | €45 | +€45 | +448,800% |
| Recurring financial income | 75 | €0 | €45 | +€45 | +448,800% |
| Financial charges | 65/66B | €9,353 | €8,108 | -€1,245 | -13.3% |
| Recurring financial charges | 65 | €9,353 | €8,108 | -€1,245 | -13.3% |
| Profit (loss) for the period before taxes | 9903 | €19,609 | €55,507 | +€35,898 | +183% |
| Income taxes | 67/77 | €7,692 | €17,270 | +€9,578 | +125% |
| Profit (loss) for the period | 9904 | €11,917 | €38,237 | +€26,320 | +221% |
| Profit (loss) for the period to be appropriated | 9905 | €11,917 | €38,237 | +€26,320 | +221% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 March 2025 and 31 March 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 3 November 2026 via checked.be.