Michel Lecrombs: 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.
What changed
Michel Lecrombs
NACE 46.711, Wholesale of cars and light vans (up to 3.5 tonnes)
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€22,408
2024 · €165,763-€143,355
Equity
€3.1m
2024 · €2.9m+€149,652
Cash
€518,381
2024 · €215,374+€303,007
Balance sheet total
€8.1m
2024 · €6.8m+€1.3m
Largest movements
Assets
- Tangible fixed assets +€664,935
up €664,935 (+97.0%), from €685,678 to €1.4m
of which Land and buildings: +€574,341
- Intangible fixed assets +€567,306
new in 2025: €567,306
- Cash +€303,007
up €303,007 (+141%), from €215,374 to €518,381
mainly Short-term financial debts (+€660,000) and Other debts (+€223,200)
- Receivables within one year -€182,830
down €182,830 (-30.7%), from €595,543 to €412,713
of which Trade receivables: -€169,601
Equity and liabilities
- Short-term financial debts +€660,000
up €660,000 (+45.8%), from €1.4m to €2.1m
- Other debts +€223,200
up €223,200 (+13.8%), from €1.6m to €1.8m
- Reserves +€188,788
up €188,788 (+34.2%), from €551,294 to €740,082
of which Distributable reserves: +€168,400
- Debts after one year +€168,359
up €168,359 (+45.8%), from €367,493 to €535,852
- Provisions +€84,818
up €84,818 (+672%), from €12,613 to €97,430
Income statement
- Turnover -€4.9m
down €4.9m (-13.8%), from €35.4m to €30.6m
- Goods and materials -€4.6m
down €4.6m (-13.7%), from €33.3m to €28.7m
of which Purchases: -€4.7m
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.
Result 2024
€165,763
Turnover
-€4.9m
Other operating income
-€60,855
Goods and materials
+€4.6m
Services and other goods
+€159,232
Staff costs
+€63,685
Depreciation
-€100,102
Other operating charges
-€9,884
Other operating items
+€47,005
Financial income
-€2,941
Financial charges
+€61,401
Taxes
+€15,199
Result 2025
€22,408
raises the resultlowers the resultnot broken down further in the accounts
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.
From operations
+€749,752
Investment
-€1.4m
Financing
+€947,697
Cash 2024
€215,374
From operations (derived)
+€749,752
Net result for the year
+€22,408
Depreciation
+€162,200
Stocks and contracts
+€62,364
Receivables within one year
+€182,830
Deferred charges and accrued income
+€6,283
Provisions
+€84,818
Trade debts
+€15,757
Tax, wage and social debts
-€10,108
Other debts
+€223,200
Investment (derived)
-€1.4m
Investment in fixed assets (net)
-€1.4m
Financing
+€947,697
Debts after one year
+€168,359
Current portion of long-term debt
-€7,907
Short-term financial debts
+€660,000
Contributions, distributions and other
+€127,244
Cash 2025
€518,381
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €6,822,606 | €8,106,378 | +€1.3m | +18.8% |
| Fixed assets | 21/28 | €686,178 | €1,918,419 | +€1.2m | +180% |
| Intangible fixed assets | 21 | - | €567,306 | +€567,306 | |
| Tangible fixed assets | 22/27 | €685,678 | €1,350,613 | +€664,935 | +97.0% |
| Land and buildings | 22 | €627,244 | €1,201,585 | +€574,341 | +91.6% |
| Plant, machinery and equipment | 23 | €16,150 | €19,886 | +€3,736 | +23.1% |
| Furniture and vehicles | 24 | €42,284 | €129,142 | +€86,858 | +205% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Affiliated companies | 280/1 | €500 | €500 | = | 0.0% |
| Participating interests | 280 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €6,136,429 | €6,187,959 | +€51,531 | +0.8% |
| Stocks and contracts in progress | 3 | €5,293,243 | €5,230,878 | -€62,364 | -1.2% |
| Stocks | 30/36 | €5,293,243 | €5,230,878 | -€62,364 | -1.2% |
| Goods purchased for resale | 34 | €5,293,243 | €5,230,878 | -€62,364 | -1.2% |
| Amounts receivable within one year | 40/41 | €595,543 | €412,713 | -€182,830 | -30.7% |
| Trade receivables | 40 | €578,693 | €409,092 | -€169,601 | -29.3% |
| Other amounts receivable | 41 | €16,850 | €3,621 | -€13,228 | -78.5% |
| Cash at bank and in hand | 54/58 | €215,374 | €518,381 | +€303,007 | +141% |
| Deferred charges and accrued income | 490/1 | €32,269 | €25,986 | -€6,283 | -19.5% |
| Total equity and liabilities | 10/49 | €6,822,606 | €8,106,378 | +€1.3m | +18.8% |
| Equity | 10/15 | €2,932,007 | €3,081,660 | +€149,652 | +5.1% |
| Contributions | 10/11 | €300,001 | €300,001 | = | 0.0% |
| Capital | 10 | €300,001 | €300,001 | = | 0.0% |
| Issued capital | 100 | €300,001 | €300,001 | = | 0.0% |
| Reserves | 13 | €551,294 | €740,082 | +€188,788 | +34.2% |
| Non-distributable reserves | 130/1 | €75,000 | €75,000 | = | 0.0% |
| Legal reserve | 130 | €75,000 | €75,000 | = | 0.0% |
| Tax-exempt reserves | 132 | €192,894 | €213,282 | +€20,388 | +10.6% |
| Distributable reserves | 133 | €283,400 | €451,800 | +€168,400 | +59.4% |
| Profit (loss) carried forward | 14 | €2,080,712 | €2,041,577 | -€39,135 | -1.9% |
| Provisions and deferred taxes | 16 | €12,613 | €97,430 | +€84,818 | +672% |
| Deferred taxes | 168 | €12,613 | €97,430 | +€84,818 | +672% |
| Amounts payable | 17/49 | €3,877,987 | €4,927,288 | +€1.0m | +27.1% |
| Amounts payable after more than one year | 17 | €367,493 | €535,852 | +€168,359 | +45.8% |
| Financial debts | 170/4 | €367,493 | €535,852 | +€168,359 | +45.8% |
| Credit institutions | 173 | €367,493 | €535,852 | +€168,359 | +45.8% |
| Amounts payable within one year | 42/48 | €3,510,494 | €4,391,436 | +€880,942 | +25.1% |
| Current portion of amounts payable after more than one year | 42 | €274,723 | €266,815 | -€7,907 | -2.9% |
| Financial debts | 43 | €1,440,000 | €2,100,000 | +€660,000 | +45.8% |
| Credit institutions | 430/8 | €1,440,000 | €2,100,000 | +€660,000 | +45.8% |
| Trade debts | 44 | €169 | €15,926 | +€15,757 | +9,339% |
| Suppliers | 440/4 | €169 | €15,926 | +€15,757 | +9,339% |
| Taxes, remuneration and social security | 45 | €175,603 | €165,495 | -€10,108 | -5.8% |
| Taxes | 450/3 | €175,603 | €165,495 | -€10,108 | -5.8% |
| Other amounts payable | 47/48 | €1,620,000 | €1,843,200 | +€223,200 | +13.8% |
| Operating income | 70/76A | €35,507,618 | €30,612,960 | -€4.9m | -13.8% |
| Turnover | 70 | €35,446,763 | €30,565,954 | -€4.9m | -13.8% |
| Other operating income | 74 | €60,855 | - | -€60,855 | |
| Non-recurring operating income | 76A | - | €47,005 | +€47,005 | |
| Operating charges | 60/66A | €35,075,742 | €30,398,099 | -€4.7m | -13.3% |
| Goods for resale, raw materials and consumables | 60 | €33,270,468 | €28,705,756 | -€4.6m | -13.7% |
| Purchases | 600/8 | €33,399,867 | €28,658,392 | -€4.7m | -14.2% |
| Change in stocks: decrease (increase) | 609 | -€129,398 | €47,364 | +€176,762 | |
| Services and other goods | 61 | €1,260,927 | €1,101,695 | -€159,232 | -12.6% |
| Remuneration, social security and pensions | 62 | €463,112 | €399,426 | -€63,685 | -13.8% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €62,098 | €162,200 | +€100,102 | +161% |
| Other operating charges | 640/8 | €19,136 | €29,021 | +€9,884 | +51.7% |
| Operating profit (loss) | 9901 | €431,875 | €214,861 | -€217,015 | -50.2% |
| Financial income | 75/76B | €3,029 | €89 | -€2,941 | -97.1% |
| Recurring financial income | 75 | €3,029 | €89 | -€2,941 | -97.1% |
| Income from financial fixed assets | 750 | €2,772 | €89 | -€2,683 | -96.8% |
| Other financial income | 752/9 | €257 | - | -€257 | |
| Financial charges | 65/66B | €206,450 | €145,049 | -€61,401 | -29.7% |
| Recurring financial charges | 65 | €206,450 | €145,049 | -€61,401 | -29.7% |
| Debt charges | 650 | €17,329 | €11,607 | -€5,721 | -33.0% |
| Other financial charges | 652/9 | €189,121 | €133,441 | -€55,680 | -29.4% |
| Profit (loss) for the period before taxes | 9903 | €228,455 | €69,900 | -€158,554 | -69.4% |
| Income taxes | 67/77 | €62,691 | €47,492 | -€15,199 | -24.2% |
| Taxes | 670/3 | €62,691 | €47,492 | -€15,199 | -24.2% |
| Profit (loss) for the period | 9904 | €165,763 | €22,408 | -€143,355 | -86.5% |
| Transfer from tax-exempt reserves | 789 | €2,343 | €196,856 | +€194,514 | +8,304% |
| Profit (loss) for the period to be appropriated | 9905 | €168,106 | €219,265 | +€51,159 | +30.4% |
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 28 October 2026 via checked.be.