P.LEFEBVRE: what changed
Two fiscal 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.
P.LEFEBVRE
Largest movements
- Receivables within one year +€248,430
up €248,430 (+86.8%), from €286,356 to €534,787
of which Other amounts receivable: +€249,063
- Tangible fixed assets -€32,752
down €32,752 (-4.9%), from €671,810 to €639,058
of which Land and buildings: -€18,182
- Cash -€32,687
down €32,687 (-72.0%), from €45,401 to €12,714
mainly Receivables within one year (-€248,430) and Other debts (-€115,448)
- Debts after one year +€254,621
up €254,621 (+44.3%), from €574,556 to €829,177
of which Other amounts payable: +€280,000
- Other debts -€115,448
down €115,448 (-47.0%), from €245,423 to €129,974
- Reserves +€36,429
up €36,429 (+6.4%), from €569,208 to €605,637
of which Distributable reserves: +€36,429
- Financial income -€123,740
down €123,740 (-97.8%), from €126,575 to €2,835
- Taxes -€18,146
down €18,146 (-59.5%), from €30,478 to €12,332
- Gross operating margin -€7,496
down €7,496 (-7.1%), from €105,721 to €98,226
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.
Cash bridge derived
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 | €1,455,017 | €1,638,009 | +€182,992 | +12.6% |
| Fixed assets | 21/28 | €1,123,260 | €1,090,508 | -€32,752 | -2.9% |
| Tangible fixed assets | 22/27 | €671,810 | €639,058 | -€32,752 | -4.9% |
| Land and buildings | 22 | €560,677 | €542,496 | -€18,182 | -3.2% |
| Plant, machinery and equipment | 23 | €109,302 | €95,794 | -€13,508 | -12.4% |
| Furniture and vehicles | 24 | €1,831 | €769 | -€1,063 | -58.0% |
| Financial fixed assets | 28 | €451,450 | €451,450 | = | 0.0% |
| Current assets | 29/58 | €331,757 | €547,501 | +€215,744 | +65.0% |
| Amounts receivable within one year | 40/41 | €286,356 | €534,787 | +€248,430 | +86.8% |
| Trade receivables | 40 | €99,982 | €99,349 | -€633 | -0.6% |
| Other amounts receivable | 41 | €186,375 | €435,438 | +€249,063 | +133.6% |
| Cash at bank and in hand | 54/58 | €45,401 | €12,714 | -€32,687 | -72.0% |
| Total equity and liabilities | 10/49 | €1,455,017 | €1,638,009 | +€182,992 | +12.6% |
| Equity | 10/15 | €587,808 | €624,237 | +€36,429 | +6.2% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €569,208 | €605,637 | +€36,429 | +6.4% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €567,348 | €603,777 | +€36,429 | +6.4% |
| Amounts payable | 17/49 | €867,209 | €1,013,772 | +€146,563 | +16.9% |
| Amounts payable after more than one year | 17 | €574,556 | €829,177 | +€254,621 | +44.3% |
| Financial debts | 170/4 | €574,556 | €549,177 | -€25,379 | -4.4% |
| Other amounts payable | 178/9 | - | €280,000 | +€280,000 | |
| Amounts payable within one year | 42/48 | €292,029 | €184,595 | -€107,434 | -36.8% |
| Current portion of amounts payable after more than one year | 42 | €24,585 | €25,379 | +€794 | +3.2% |
| Trade debts | 44 | €1,500 | €465 | -€1,035 | -69.0% |
| Suppliers | 440/4 | €1,500 | €465 | -€1,035 | -69.0% |
| Taxes, remuneration and social security | 45 | €20,522 | €28,777 | +€8,255 | +40.2% |
| Taxes | 450/3 | €20,522 | €28,777 | +€8,255 | +40.2% |
| Other amounts payable | 47/48 | €245,423 | €129,974 | -€115,448 | -47.0% |
| Accrued charges and deferred income | 492/3 | €624 | - | -€624 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €32,951 | €32,752 | -€199 | -0.6% |
| Other operating charges | 640/8 | - | €361 | +€361 | |
| Gross operating margin | 9900 | €105,721 | €98,226 | -€7,496 | -7.1% |
| Operating profit (loss) | 9901 | €72,770 | €65,113 | -€7,658 | -10.5% |
| Financial income | 75/76B | €126,575 | €2,835 | -€123,740 | -97.8% |
| Recurring financial income | 75 | €126,575 | €2,835 | -€123,740 | -97.8% |
| Financial charges | 65/66B | €19,713 | €19,187 | -€526 | -2.7% |
| Recurring financial charges | 65 | €19,666 | €18,838 | -€829 | -4.2% |
| Non-recurring financial charges | 66B | €47 | €349 | +€303 | +650.2% |
| Profit (loss) for the period before taxes | 9903 | €179,632 | €48,761 | -€130,872 | -72.9% |
| Income taxes | 67/77 | €30,478 | €12,332 | -€18,146 | -59.5% |
| Profit (loss) for the period | 9904 | €149,154 | €36,429 | -€112,725 | -75.6% |
| Profit (loss) for the period to be appropriated | 9905 | €149,154 | €36,429 | -€112,725 | -75.6% |
Source: filed annual accounts (NBB), fiscal years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 8 October 2026 via checked.be.