Pascal Le Blon: 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.
Pascal Le Blon
Largest movements
- Cash +€15,936
up €15,936 (+91.3%), from €17,447 to €33,382
mainly Net result for the year (+€53,054) and Tax, wage and social debts (+€3,241)
- Receivables within one year +€4,500
up €4,500 (+7.2%), from €62,927 to €67,427
of which Trade receivables: +€4,500
- Deferred charges and accrued income -€1,816
down €1,816 (-30.2%), from €6,024 to €4,208
- Tangible fixed assets -€1,111
down €1,111 (-18.8%), from €5,910 to €4,799
- Reserves +€22,688
new in 2025: €22,688
- Other debts -€18,556
down €18,556 (-65.1%), from €28,493 to €9,936
- Profit (loss) carried forward +€10,366
up €10,366 (+24.3%), from €42,688 to €53,054
- Tax, wage and social debts +€3,241
up €3,241 (+17.2%), from €18,880 to €22,121
- Gross operating margin +€16,797
up €16,797 (+28.8%), from €58,336 to €75,132
- Taxes +€6,407
up €6,407 (+53.6%), from €11,958 to €18,366
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 | €92,307 | €109,816 | +€17,509 | +19.0% |
| Fixed assets | 21/28 | €5,910 | €4,799 | -€1,111 | -18.8% |
| Tangible fixed assets | 22/27 | €5,910 | €4,799 | -€1,111 | -18.8% |
| Furniture and vehicles | 24 | €5,910 | €4,799 | -€1,111 | -18.8% |
| Current assets | 29/58 | €86,397 | €105,017 | +€18,620 | +21.6% |
| Amounts receivable within one year | 40/41 | €62,927 | €67,427 | +€4,500 | +7.2% |
| Trade receivables | 40 | €62,800 | €67,300 | +€4,500 | +7.2% |
| Other amounts receivable | 41 | €127 | €127 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €17,447 | €33,382 | +€15,936 | +91.3% |
| Deferred charges and accrued income | 490/1 | €6,024 | €4,208 | -€1,816 | -30.2% |
| Total equity and liabilities | 10/49 | €92,307 | €109,816 | +€17,509 | +19.0% |
| Equity | 10/15 | €43,688 | €76,742 | +€33,054 | +75.7% |
| Contributions | 10/11 | €1,000 | €1,000 | = | 0.0% |
| Reserves | 13 | - | €22,688 | +€22,688 | |
| Distributable reserves | 133 | - | €22,688 | +€22,688 | |
| Profit (loss) carried forward | 14 | €42,688 | €53,054 | +€10,366 | +24.3% |
| Amounts payable | 17/49 | €48,619 | €33,074 | -€15,545 | -32.0% |
| Amounts payable within one year | 42/48 | €48,619 | €33,074 | -€15,545 | -32.0% |
| Trade debts | 44 | €1,246 | €1,017 | -€229 | -18.4% |
| Suppliers | 440/4 | €1,246 | €1,017 | -€229 | -18.4% |
| Taxes, remuneration and social security | 45 | €18,880 | €22,121 | +€3,241 | +17.2% |
| Taxes | 450/3 | €18,880 | €22,121 | +€3,241 | +17.2% |
| Other amounts payable | 47/48 | €28,493 | €9,936 | -€18,556 | -65.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,532 | €1,828 | +€295 | +19.3% |
| Other operating charges | 640/8 | €1,353 | €1,228 | -€125 | -9.2% |
| Gross operating margin | 9900 | €58,336 | €75,132 | +€16,797 | +28.8% |
| Operating profit (loss) | 9901 | €55,451 | €72,077 | +€16,626 | +30.0% |
| Financial charges | 65/66B | €804 | €657 | -€147 | -18.3% |
| Recurring financial charges | 65 | €804 | €657 | -€147 | -18.3% |
| Profit (loss) for the period before taxes | 9903 | €54,646 | €71,420 | +€16,773 | +30.7% |
| Income taxes | 67/77 | €11,958 | €18,366 | +€6,407 | +53.6% |
| Profit (loss) for the period | 9904 | €42,688 | €53,054 | +€10,366 | +24.3% |
| Profit (loss) for the period to be appropriated | 9905 | €42,688 | €53,054 | +€10,366 | +24.3% |
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 11 October 2026 via checked.be.