MICHEL LECLERCQ: 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.
MICHEL LECLERCQ
Largest movements
- Cash -€40,822
down €40,822 (-51.8%), from €78,784 to €37,962
mainly Contributions, distributions and other (-€39,055) and Investment in fixed assets (net) (-€31,269)
- Tangible fixed assets +€28,060
up €28,060 (+819%), from €3,425 to €31,485
of which Furniture and vehicles: +€28,260
- Receivables within one year +€7,697
up €7,697 (+13.5%), from €56,980 to €64,678
of which Other amounts receivable: +€4,101
- Other debts +€59,097
up €59,097 (+89.4%), from €66,134 to €125,231
- Reserves -€39,055
down €39,055 (-100%), from €39,055 to €0
- Trade debts -€26,696
down €26,696 (-74.1%), from €36,028 to €9,332
- Profit (loss) carried forward +€4,142
up €4,142 (+22.6%), from -€18,345 to -€14,203
- Tax, wage and social debts -€3,626
down €3,626 (-74.7%), from €4,851 to €1,225
of which Remuneration and social security: -€2,232
- Gross operating margin +€31,734
up €31,734, from -€17,380 to €14,354
- Other operating charges +€5,419
up €5,419 (+604%), from €897 to €6,316
- Depreciation +€2,108
up €2,108 (+191%), from €1,102 to €3,210
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 | €141,983 | €135,846 | -€6,138 | -4.3% |
| Fixed assets | 21/28 | €3,470 | €31,530 | +€28,060 | +809% |
| Tangible fixed assets | 22/27 | €3,425 | €31,485 | +€28,060 | +819% |
| Land and buildings | 22 | €600 | €400 | -€200 | -33.3% |
| Furniture and vehicles | 24 | €2,825 | €31,085 | +€28,260 | +1,000% |
| Financial fixed assets | 28 | €45 | €45 | = | 0.0% |
| Current assets | 29/58 | €138,513 | €104,315 | -€34,198 | -24.7% |
| Amounts receivable within one year | 40/41 | €56,980 | €64,678 | +€7,697 | +13.5% |
| Trade receivables | 40 | €49,606 | €53,203 | +€3,597 | +7.3% |
| Other amounts receivable | 41 | €7,374 | €11,475 | +€4,101 | +55.6% |
| Cash at bank and in hand | 54/58 | €78,784 | €37,962 | -€40,822 | -51.8% |
| Deferred charges and accrued income | 490/1 | €2,749 | €1,675 | -€1,074 | -39.1% |
| Total equity and liabilities | 10/49 | €141,983 | €135,846 | -€6,138 | -4.3% |
| Equity | 10/15 | €34,970 | €57 | -€34,913 | -99.8% |
| Contributions | 10/11 | €14,260 | €14,260 | = | 0.0% |
| Reserves | 13 | €39,055 | €0 | -€39,055 | -100% |
| Distributable reserves | 133 | €39,055 | €0 | -€39,055 | -100% |
| Profit (loss) carried forward | 14 | -€18,345 | -€14,203 | +€4,142 | +22.6% |
| Amounts payable | 17/49 | €107,014 | €135,789 | +€28,775 | +26.9% |
| Amounts payable within one year | 42/48 | €107,014 | €135,789 | +€28,775 | +26.9% |
| Trade debts | 44 | €36,028 | €9,332 | -€26,696 | -74.1% |
| Suppliers | 440/4 | €36,028 | €9,332 | -€26,696 | -74.1% |
| Taxes, remuneration and social security | 45 | €4,851 | €1,225 | -€3,626 | -74.7% |
| Taxes | 450/3 | €2,619 | €1,225 | -€1,394 | -53.2% |
| Remuneration and social security | 454/9 | €2,232 | €0 | -€2,232 | -100% |
| Other amounts payable | 47/48 | €66,134 | €125,231 | +€59,097 | +89.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,102 | €3,210 | +€2,108 | +191% |
| Other operating charges | 640/8 | €897 | €6,316 | +€5,419 | +604% |
| Gross operating margin | 9900 | -€17,380 | €14,354 | +€31,734 | |
| Operating profit (loss) | 9901 | -€19,379 | €4,828 | +€24,207 | |
| Financial income | 75/76B | €108 | €4 | -€104 | -96.6% |
| Recurring financial income | 75 | €108 | €4 | -€104 | -96.6% |
| Financial charges | 65/66B | €351 | €419 | +€68 | +19.3% |
| Recurring financial charges | 65 | €351 | €419 | +€68 | +19.3% |
| Profit (loss) for the period before taxes | 9903 | -€19,622 | €4,413 | +€24,035 | |
| Income taxes | 67/77 | €241 | €271 | +€31 | +12.7% |
| Profit (loss) for the period | 9904 | -€19,863 | €4,142 | +€24,005 | |
| Profit (loss) for the period to be appropriated | 9905 | -€19,863 | €4,142 | +€24,005 |
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.