PATRICK LEBLANC: 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.
PATRICK LEBLANC
Largest movements
- Receivables within one year -€94,239
down €94,239 (-86.9%), from €108,504 to €14,265
of which Other amounts receivable: -€95,820
- Cash +€73,545
up €73,545 (+8.2%), from €892,562 to €966,108
mainly Net result for the year (+€140,365) and Receivables within one year (+€94,239)
- Reserves -€16,990
down €16,990 (-1.8%), from €938,370 to €921,380
- Gross operating margin +€25,014
up €25,014 (+13.9%), from €179,501 to €204,515
- Taxes +€6,598
up €6,598 (+12.2%), from €53,943 to €60,541
- Financial income -€5,549
down €5,549 (-100.0%), from €5,549 to €0
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 | €1,008,158 | €985,801 | -€22,357 | -2.2% |
| Fixed assets | 21/28 | €4,560 | €3,067 | -€1,493 | -32.7% |
| Tangible fixed assets | 22/27 | €4,520 | €3,027 | -€1,493 | -33.0% |
| Plant, machinery and equipment | 23 | €1,415 | €1,023 | -€392 | -27.7% |
| Furniture and vehicles | 24 | €3,105 | €2,005 | -€1,100 | -35.4% |
| Financial fixed assets | 28 | €40 | €40 | = | 0.0% |
| Current assets | 29/58 | €1,003,598 | €982,734 | -€20,864 | -2.1% |
| Amounts receivable within one year | 40/41 | €108,504 | €14,265 | -€94,239 | -86.9% |
| Trade receivables | 40 | €12,684 | €14,265 | +€1,581 | +12.5% |
| Other amounts receivable | 41 | €95,820 | - | -€95,820 | |
| Cash at bank and in hand | 54/58 | €892,562 | €966,108 | +€73,545 | +8.2% |
| Deferred charges and accrued income | 490/1 | €2,531 | €2,361 | -€171 | -6.7% |
| Total equity and liabilities | 10/49 | €1,008,158 | €985,801 | -€22,357 | -2.2% |
| Equity | 10/15 | €960,433 | €943,449 | -€16,985 | -1.8% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €938,370 | €921,380 | -€16,990 | -1.8% |
| Distributable reserves | 133 | €938,370 | €921,380 | -€16,990 | -1.8% |
| Profit (loss) carried forward | 14 | €9,663 | €9,669 | +€5 | +0.1% |
| Amounts payable | 17/49 | €47,724 | €42,352 | -€5,372 | -11.3% |
| Amounts payable within one year | 42/48 | €47,724 | €42,329 | -€5,395 | -11.3% |
| Trade debts | 44 | €6,468 | €5,815 | -€653 | -10.1% |
| Suppliers | 440/4 | €6,468 | €5,815 | -€653 | -10.1% |
| Taxes, remuneration and social security | 45 | €41,256 | €32,484 | -€8,772 | -21.3% |
| Taxes | 450/3 | €41,256 | €32,484 | -€8,772 | -21.3% |
| Other amounts payable | 47/48 | - | €4,030 | +€4,030 | |
| Accrued charges and deferred income | 492/3 | - | €23 | +€23 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,817 | €1,493 | -€324 | -17.8% |
| Other operating charges | 640/8 | €3,413 | €1,998 | -€1,415 | -41.5% |
| Gross operating margin | 9900 | €179,501 | €204,515 | +€25,014 | +13.9% |
| Operating profit (loss) | 9901 | €174,272 | €201,024 | +€26,753 | +15.4% |
| Financial income | 75/76B | €5,549 | €0 | -€5,549 | -100.0% |
| Recurring financial income | 75 | €5,549 | €0 | -€5,549 | -100.0% |
| Financial charges | 65/66B | €112 | €118 | +€6 | +4.9% |
| Recurring financial charges | 65 | €112 | €118 | +€6 | +4.9% |
| Profit (loss) for the period before taxes | 9903 | €179,709 | €200,907 | +€21,198 | +11.8% |
| Income taxes | 67/77 | €53,943 | €60,541 | +€6,598 | +12.2% |
| Profit (loss) for the period | 9904 | €125,766 | €140,365 | +€14,600 | +11.6% |
| Profit (loss) for the period to be appropriated | 9905 | €125,766 | €140,365 | +€14,600 | +11.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 5 October 2026 via checked.be.