Pierre LECLERCQ: 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.
Pierre LECLERCQ
Largest movements
- Receivables within one year -€61,257
down €61,257 (-87.0%), from €70,412 to €9,155
of which Trade receivables: -€61,363
- Cash +€32,034
up €32,034 (+178%), from €17,984 to €50,018
mainly Receivables within one year (+€61,257) and Depreciation (+€1,396)
- Financial fixed assets +€10,000
up €10,000 (+25.0%), from €40,000 to €50,000
- Tangible fixed assets +€3,457
up €3,457 (+149%), from €2,324 to €5,781
of which Other tangible fixed assets: +€4,134
- Profit (loss) carried forward -€8,556
down €8,556 (-6.8%), from €126,396 to €117,840
- Trade debts -€5,986
down €5,986 (-74.8%), from €7,998 to €2,012
- Financial income -€30,214
down €30,214 (-97.8%), from €30,888 to €674
- Gross operating margin +€18,384
up €18,384 (+79.2%), from -€23,219 to -€4,835
- Other operating charges -€5,110
down €5,110 (-86.9%), from €5,878 to €768
- Financial charges -€292
down €292 (-12.9%), from €2,271 to €1,979
- Depreciation +€277
up €277 (+24.8%), from €1,119 to €1,396
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 | €161,400 | €145,717 | -€15,683 | -9.7% |
| Fixed assets | 21/28 | €42,324 | €55,781 | +€13,457 | +31.8% |
| Tangible fixed assets | 22/27 | €2,324 | €5,781 | +€3,457 | +149% |
| Furniture and vehicles | 24 | €2,043 | €1,366 | -€677 | -33.1% |
| Other tangible fixed assets | 26 | €281 | €4,415 | +€4,134 | +1,471% |
| Financial fixed assets | 28 | €40,000 | €50,000 | +€10,000 | +25.0% |
| Current assets | 29/58 | €119,076 | €89,936 | -€29,140 | -24.5% |
| Amounts receivable within one year | 40/41 | €70,412 | €9,155 | -€61,257 | -87.0% |
| Trade receivables | 40 | €69,963 | €8,600 | -€61,363 | -87.7% |
| Other amounts receivable | 41 | €449 | €555 | +€106 | +23.6% |
| Current investments | 50/53 | €30,000 | €30,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €17,984 | €50,018 | +€32,034 | +178% |
| Deferred charges and accrued income | 490/1 | €680 | €763 | +€83 | +12.2% |
| Total equity and liabilities | 10/49 | €161,400 | €145,717 | -€15,683 | -9.7% |
| Equity | 10/15 | €144,256 | €135,700 | -€8,556 | -5.9% |
| Contributions | 10/11 | €16,000 | €16,000 | = | 0.0% |
| Reserves | 13 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €1,860 | €1,860 | = | 0.0% |
| Profit (loss) carried forward | 14 | €126,396 | €117,840 | -€8,556 | -6.8% |
| Amounts payable | 17/49 | €17,144 | €10,017 | -€7,127 | -41.6% |
| Amounts payable within one year | 42/48 | €17,144 | €10,017 | -€7,127 | -41.6% |
| Trade debts | 44 | €7,998 | €2,012 | -€5,986 | -74.8% |
| Suppliers | 440/4 | €7,998 | €2,012 | -€5,986 | -74.8% |
| Taxes, remuneration and social security | 45 | €5,944 | €4,622 | -€1,322 | -22.2% |
| Taxes | 450/3 | €3,444 | €2,122 | -€1,322 | -38.4% |
| Remuneration and social security | 454/9 | €2,500 | €2,500 | = | 0.0% |
| Other amounts payable | 47/48 | €3,202 | €3,383 | +€181 | +5.7% |
| Non-recurring operating income | 76A | €9,097 | - | -€9,097 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,119 | €1,396 | +€277 | +24.8% |
| Other operating charges | 640/8 | €5,878 | €768 | -€5,110 | -86.9% |
| Gross operating margin | 9900 | -€23,219 | -€4,835 | +€18,384 | +79.2% |
| Operating profit (loss) | 9901 | -€30,216 | -€6,999 | +€23,217 | +76.8% |
| Financial income | 75/76B | €30,888 | €674 | -€30,214 | -97.8% |
| Recurring financial income | 75 | €30,888 | €674 | -€30,214 | -97.8% |
| Financial charges | 65/66B | €2,271 | €1,979 | -€292 | -12.9% |
| Recurring financial charges | 65 | €2,271 | €1,979 | -€292 | -12.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,599 | -€8,304 | -€6,705 | -419% |
| Income taxes | 67/77 | €325 | €252 | -€73 | -22.5% |
| Profit (loss) for the period | 9904 | -€1,924 | -€8,556 | -€6,632 | -345% |
| Profit (loss) for the period to be appropriated | 9905 | -€1,924 | -€8,556 | -€6,632 | -345% |
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 31 October 2026 via checked.be.