MIKE LE RYCKE: 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.
MIKE LE RYCKE
Largest movements
- Tangible fixed assets -€408,665
down €408,665 (-22.8%), from €1.8m to €1.4m
of which Land and buildings: -€406,066
- Debts after one year -€549,099
down €549,099 (-68.7%), from €799,023 to €249,924
- Reserves +€173,557
up €173,557 (+43.1%), from €402,315 to €575,872
- Current portion of long-term debt -€68,041
down €68,041 (-57.2%), from €118,897 to €50,856
- Other debts +€26,263
up €26,263 (+16.2%), from €162,374 to €188,637
- Gross operating margin +€123,386
up €123,386 (+53.1%), from €232,387 to €355,774
- Taxes +€46,975
up €46,975 (+119%), from €39,483 to €86,458
- Depreciation -€28,579
down €28,579 (-36.0%), from €79,384 to €50,805
- Financial charges +€5,261
up €5,261 (+18.7%), from €28,140 to €33,402
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 | €1,828,728 | €1,400,949 | -€427,778 | -23.4% |
| Fixed assets | 21/28 | €1,795,077 | €1,386,411 | -€408,665 | -22.8% |
| Tangible fixed assets | 22/27 | €1,794,918 | €1,386,253 | -€408,665 | -22.8% |
| Land and buildings | 22 | €1,784,316 | €1,378,250 | -€406,066 | -22.8% |
| Plant, machinery and equipment | 23 | €8,250 | €6,600 | -€1,650 | -20.0% |
| Furniture and vehicles | 24 | €2,352 | €1,403 | -€949 | -40.4% |
| Financial fixed assets | 28 | €159 | €159 | = | 0.0% |
| Current assets | 29/58 | €33,651 | €14,538 | -€19,113 | -56.8% |
| Amounts receivable within one year | 40/41 | €15,616 | €2,526 | -€13,090 | -83.8% |
| Trade receivables | 40 | €15,615 | €2,500 | -€13,115 | -84.0% |
| Other amounts receivable | 41 | €1 | €26 | +€25 | +2,678% |
| Cash at bank and in hand | 54/58 | €14,255 | €8,475 | -€5,781 | -40.5% |
| Deferred charges and accrued income | 490/1 | €3,780 | €3,538 | -€242 | -6.4% |
| Total equity and liabilities | 10/49 | €1,828,728 | €1,400,949 | -€427,778 | -23.4% |
| Equity | 10/15 | €702,315 | €875,872 | +€173,557 | +24.7% |
| Contributions | 10/11 | €300,000 | €300,000 | = | 0.0% |
| Reserves | 13 | €402,315 | €575,872 | +€173,557 | +43.1% |
| Distributable reserves | 133 | €402,315 | €575,872 | +€173,557 | +43.1% |
| Amounts payable | 17/49 | €1,126,413 | €525,077 | -€601,336 | -53.4% |
| Amounts payable after more than one year | 17 | €799,023 | €249,924 | -€549,099 | -68.7% |
| Financial debts | 170/4 | €799,023 | €249,924 | -€549,099 | -68.7% |
| Amounts payable within one year | 42/48 | €317,982 | €263,882 | -€54,101 | -17.0% |
| Current portion of amounts payable after more than one year | 42 | €118,897 | €50,856 | -€68,041 | -57.2% |
| Trade debts | 44 | €7,779 | €11,571 | +€3,793 | +48.8% |
| Suppliers | 440/4 | €7,779 | €11,571 | +€3,793 | +48.8% |
| Taxes, remuneration and social security | 45 | €28,932 | €12,817 | -€16,115 | -55.7% |
| Taxes | 450/3 | €28,932 | €12,817 | -€16,115 | -55.7% |
| Other amounts payable | 47/48 | €162,374 | €188,637 | +€26,263 | +16.2% |
| Accrued charges and deferred income | 492/3 | €9,407 | €11,272 | +€1,864 | +19.8% |
| Non-recurring operating income | 76A | - | €285,783 | +€285,783 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €79,384 | €50,805 | -€28,579 | -36.0% |
| Other operating charges | 640/8 | €10,850 | €11,726 | +€876 | +8.1% |
| Gross operating margin | 9900 | €232,387 | €355,774 | +€123,386 | +53.1% |
| Operating profit (loss) | 9901 | €142,154 | €293,243 | +€151,089 | +106% |
| Financial income | 75/76B | - | €174 | +€174 | |
| Recurring financial income | 75 | - | €174 | +€174 | |
| Financial charges | 65/66B | €28,140 | €33,402 | +€5,261 | +18.7% |
| Recurring financial charges | 65 | €28,140 | €33,402 | +€5,261 | +18.7% |
| Profit (loss) for the period before taxes | 9903 | €114,014 | €260,015 | +€146,002 | +128% |
| Income taxes | 67/77 | €39,483 | €86,458 | +€46,975 | +119% |
| Profit (loss) for the period | 9904 | €74,531 | €173,557 | +€99,027 | +133% |
| Profit (loss) for the period to be appropriated | 9905 | €74,531 | €173,557 | +€99,027 | +133% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 29 October 2026 via checked.be.