SARAH LECLERE: 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.
SARAH LECLERE
Largest movements
- Intangible fixed assets -€21,429
down €21,429 (-50.0%), from €42,900 to €21,471
- Cash +€9,503
up €9,503 (+18.2%), from €52,251 to €61,754
mainly Depreciation (+€30,816) and Other debts (+€8,619)
- Tangible fixed assets -€6,782
down €6,782 (-22.0%), from €30,815 to €24,033
of which Other tangible fixed assets: -€5,600
- Receivables within one year -€3,874
down €3,874 (-23.6%), from €16,435 to €12,562
of which Other amounts receivable: -€8,562
- Profit (loss) carried forward -€28,665
down €28,665 (-61.8%), from €46,369 to €17,703
- Other debts +€8,619
up €8,619 (+83.0%), from €10,381 to €19,000
- Current portion of long-term debt -€1,695
no longer reported in 2025 (was €1,695)
- Gross operating margin +€15,563
up €15,563 (+193%), from €8,069 to €23,633
- Financial charges -€350
down €350 (-44.6%), from €784 to €435
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 | €144,804 | €122,148 | -€22,656 | -15.6% |
| Formation expenses | 20 | €299 | - | -€299 | |
| Fixed assets | 21/28 | €73,715 | €45,504 | -€28,210 | -38.3% |
| Intangible fixed assets | 21 | €42,900 | €21,471 | -€21,429 | -50.0% |
| Tangible fixed assets | 22/27 | €30,815 | €24,033 | -€6,782 | -22.0% |
| Land and buildings | 22 | €113 | - | -€113 | |
| Furniture and vehicles | 24 | €9,848 | €8,779 | -€1,069 | -10.9% |
| Other tangible fixed assets | 26 | €20,854 | €15,254 | -€5,600 | -26.9% |
| Current assets | 29/58 | €70,791 | €76,644 | +€5,853 | +8.3% |
| Amounts receivable within one year | 40/41 | €16,435 | €12,562 | -€3,874 | -23.6% |
| Trade receivables | 40 | €3,573 | €8,261 | +€4,688 | +131% |
| Other amounts receivable | 41 | €12,863 | €4,301 | -€8,562 | -66.6% |
| Cash at bank and in hand | 54/58 | €52,251 | €61,754 | +€9,503 | +18.2% |
| Deferred charges and accrued income | 490/1 | €2,104 | €2,328 | +€224 | +10.6% |
| Total equity and liabilities | 10/49 | €144,804 | €122,148 | -€22,656 | -15.6% |
| Equity | 10/15 | €123,803 | €95,138 | -€28,665 | -23.2% |
| Contributions | 10/11 | €8,639 | €8,639 | = | 0.0% |
| Reserves | 13 | €68,796 | €68,796 | = | 0.0% |
| Distributable reserves | 133 | €68,796 | €68,796 | = | 0.0% |
| Profit (loss) carried forward | 14 | €46,369 | €17,703 | -€28,665 | -61.8% |
| Amounts payable | 17/49 | €21,001 | €27,010 | +€6,009 | +28.6% |
| Amounts payable within one year | 42/48 | €21,001 | €27,010 | +€6,009 | +28.6% |
| Current portion of amounts payable after more than one year | 42 | €1,695 | - | -€1,695 | |
| Trade debts | 44 | €1,083 | €1,098 | +€14 | +1.3% |
| Suppliers | 440/4 | €1,083 | €1,098 | +€14 | +1.3% |
| Taxes, remuneration and social security | 45 | €7,842 | €6,913 | -€929 | -11.8% |
| Taxes | 450/3 | €4,642 | €3,713 | -€929 | -20.0% |
| Remuneration and social security | 454/9 | €3,200 | €3,200 | = | 0.0% |
| Other amounts payable | 47/48 | €10,381 | €19,000 | +€8,619 | +83.0% |
| Non-recurring operating income | 76A | - | €403 | +€403 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €30,947 | €30,816 | -€131 | -0.4% |
| Other operating charges | 640/8 | €469 | €613 | +€144 | +30.7% |
| Non-recurring operating charges | 66A | - | €83 | +€83 | |
| Gross operating margin | 9900 | €8,069 | €23,633 | +€15,563 | +193% |
| Operating profit (loss) | 9901 | -€23,347 | -€7,879 | +€15,468 | +66.3% |
| Financial charges | 65/66B | €784 | €435 | -€350 | -44.6% |
| Recurring financial charges | 65 | €784 | €435 | -€350 | -44.6% |
| Profit (loss) for the period before taxes | 9903 | -€24,131 | -€8,314 | +€15,817 | +65.5% |
| Income taxes | 67/77 | €159 | €352 | +€193 | +121% |
| Profit (loss) for the period | 9904 | -€24,290 | -€8,665 | +€15,625 | +64.3% |
| Profit (loss) for the period to be appropriated | 9905 | -€24,290 | -€8,665 | +€15,625 | +64.3% |
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 20 October 2026 via checked.be.