PATRICK LECLUYSE: 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.
PATRICK LECLUYSE
Largest movements
- Cash +€216,089
up €216,089 (+227%), from €95,024 to €311,113
mainly Net result for the year (+€416,441) and Receivables within one year (+€47,744)
- Financial fixed assets +€75,000
up €75,000 (+21.4%), from €350,000 to €425,000
- Receivables within one year -€47,744
down €47,744 (-63.1%), from €75,625 to €27,881
of which Trade receivables: -€47,795
- Tangible fixed assets +€47,611
up €47,611 (+19.6%), from €243,420 to €291,031
of which Furniture and vehicles: +€59,568
- Reserves +€263,995
up €263,995 (+19.1%), from €1.4m to €1.6m
- Accrued charges and deferred income +€27,528
up €27,528 (+377%), from €7,298 to €34,826
- Gross operating margin +€271,926
up €271,926 (+107%), from €253,363 to €525,288
- Taxes +€87,243
up €87,243 (+111%), from €78,907 to €166,150
- Financial income +€77,352
up €77,352 (+179%), from €43,246 to €120,598
of which Non-recurring financial income: +€41,867
- Financial charges +€28,193
up €28,193 (+360%), from €7,836 to €36,029
- Depreciation -€10,531
down €10,531 (-30.7%), from €34,351 to €23,820
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 | €1,875,618 | €2,164,951 | +€289,333 | +15.4% |
| Fixed assets | 21/28 | €593,420 | €716,031 | +€122,611 | +20.7% |
| Tangible fixed assets | 22/27 | €243,420 | €291,031 | +€47,611 | +19.6% |
| Land and buildings | 22 | €224,417 | €210,169 | -€14,248 | -6.3% |
| Plant, machinery and equipment | 23 | €331 | €2,622 | +€2,292 | +693% |
| Furniture and vehicles | 24 | €18,673 | €78,240 | +€59,568 | +319% |
| Financial fixed assets | 28 | €350,000 | €425,000 | +€75,000 | +21.4% |
| Current assets | 29/58 | €1,282,198 | €1,448,920 | +€166,722 | +13.0% |
| Amounts receivable after more than one year | 29 | €0 | - | = | |
| Other amounts receivable | 291 | €0 | - | = | |
| Amounts receivable within one year | 40/41 | €75,625 | €27,881 | -€47,744 | -63.1% |
| Trade receivables | 40 | €75,625 | €27,830 | -€47,795 | -63.2% |
| Other amounts receivable | 41 | €0 | €51 | +€51 | |
| Current investments | 50/53 | €1,108,605 | €1,108,605 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €95,024 | €311,113 | +€216,089 | +227% |
| Deferred charges and accrued income | 490/1 | €2,945 | €1,321 | -€1,623 | -55.1% |
| Total equity and liabilities | 10/49 | €1,875,618 | €2,164,951 | +€289,333 | +15.4% |
| Equity | 10/15 | €1,382,594 | €1,646,589 | +€263,995 | +19.1% |
| Contributions | 10/11 | €0 | - | = | |
| Reserves | 13 | €1,382,594 | €1,646,589 | +€263,995 | +19.1% |
| Distributable reserves | 133 | €1,382,594 | €1,646,589 | +€263,995 | +19.1% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €493,024 | €518,361 | +€25,338 | +5.1% |
| Amounts payable after more than one year | 17 | €0 | - | = | |
| Financial debts | 170/4 | €0 | - | = | |
| Amounts payable within one year | 42/48 | €485,726 | €483,535 | -€2,191 | -0.5% |
| Current portion of amounts payable after more than one year | 42 | €14,250 | €0 | -€14,250 | -100% |
| Financial debts | 43 | €1,520 | €1,196 | -€324 | -21.3% |
| Credit institutions | 430/8 | €1,520 | €1,196 | -€324 | -21.3% |
| Trade debts | 44 | €2,703 | €3,359 | +€656 | +24.3% |
| Suppliers | 440/4 | €2,703 | €3,359 | +€656 | +24.3% |
| Taxes, remuneration and social security | 45 | €37,483 | €54,638 | +€17,156 | +45.8% |
| Taxes | 450/3 | €37,483 | €53,228 | +€15,745 | +42.0% |
| Remuneration and social security | 454/9 | - | €1,410 | +€1,410 | |
| Other amounts payable | 47/48 | €429,770 | €424,342 | -€5,428 | -1.3% |
| Accrued charges and deferred income | 492/3 | €7,298 | €34,826 | +€27,528 | +377% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €34,351 | €23,820 | -€10,531 | -30.7% |
| Provisions for liabilities and charges: additions (uses and reversals) | 635/8 | €0 | - | = | |
| Other operating charges | 640/8 | €3,587 | €3,446 | -€141 | -3.9% |
| Non-recurring operating charges | 66A | €0 | - | = | |
| Gross operating margin | 9900 | €253,363 | €525,288 | +€271,926 | +107% |
| Operating profit (loss) | 9901 | €215,424 | €498,022 | +€282,597 | +131% |
| Financial income | 75/76B | €43,246 | €120,598 | +€77,352 | +179% |
| Recurring financial income | 75 | €43,246 | €78,732 | +€35,486 | +82.1% |
| Non-recurring financial income | 76B | - | €41,867 | +€41,867 | |
| Financial charges | 65/66B | €7,836 | €36,029 | +€28,193 | +360% |
| Recurring financial charges | 65 | €7,836 | €36,029 | +€28,193 | +360% |
| Profit (loss) for the period before taxes | 9903 | €250,834 | €582,591 | +€331,757 | +132% |
| Income taxes | 67/77 | €78,907 | €166,150 | +€87,243 | +111% |
| Profit (loss) for the period | 9904 | €171,926 | €416,441 | +€244,514 | +142% |
| Profit (loss) for the period to be appropriated | 9905 | €171,926 | €416,441 | +€244,514 | +142% |
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 24 October 2026 via checked.be.