Studiebureel Lesaffre: what changed
What changed
Studiebureel Lesaffre
NACE 71.121, Engineering and related technical consultancy, excluding land surveyors
filed annual accounts (NBB)
Net result for the year
-€36,083
2025 · -€37,844+€1,762
Equity
€94,706
2025 · €130,789-€36,083
Cash
€19,205
2025 · €29,708-€10,504
Balance sheet total
€862,785
2025 · €911,202-€48,417
Largest movements
Assets
- Tangible fixed assets -€41,489
down €41,489 (-4.8%), from €873,411 to €831,921
of which Land and buildings: -€40,853
- Cash -€10,504
down €10,504 (-35.4%), from €29,708 to €19,205
mainly Net result for the year (-€36,083) and Debts after one year (-€19,130)
Equity and liabilities
- Profit (loss) carried forward -€35,724
down €35,724 (-10.4%), from -€344,711 to -€380,435
- Debts after one year -€19,130
down €19,130 (-2.5%), from €754,205 to €735,076
of which Financial debts: -€18,846
Income statement
- Depreciation -€5,914
down €5,914 (-12.0%), from €49,382 to €43,468
- Other operating charges +€4,865
up €4,865 (+184%), from €2,647 to €7,512
- Financial charges -€564
down €564 (-10.4%), from €5,442 to €4,879
Change in the result, 2025 to 2026
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Result 2025
-€37,844
Gross operating margin
+€165
Depreciation
+€5,914
Other operating charges
-€4,865
Financial charges
+€564
Taxes
-€15
Result 2026
-€36,083
raises the resultlowers the result
Derived cash bridge
The bridge is derived from the 2025 and 2026 balance sheets and the 2026 result. There is no filed cash-flow statement. You see where the money came from and where it went.
From operations
+€10,313
Investment
-€1,978
Financing
-€18,838
Cash 2025
€29,708
From operations (derived)
+€10,313
Net result for the year
-€36,083
Depreciation
+€43,468
Receivables within one year
-€3,355
Deferred charges and accrued income
-€221
Provisions
-€90
Trade debts
+€5,288
Tax, wage and social debts
+€1,515
Accrued charges and deferred income
-€210
Investment (derived)
-€1,978
Investment in fixed assets (net)
-€1,978
Financing
-€18,838
Debts after one year
-€19,130
Current portion of long-term debt
+€292
Cash 2026
€19,205
brings cash intakes cash out
Every line side by side
| Line | Code | 2025 | 2026 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €911,202 | €862,785 | -€48,417 | -5.3% |
| Fixed assets | 21/28 | €875,926 | €834,437 | -€41,489 | -4.7% |
| Tangible fixed assets | 22/27 | €873,411 | €831,921 | -€41,489 | -4.8% |
| Land and buildings | 22 | €866,656 | €825,804 | -€40,853 | -4.7% |
| Plant, machinery and equipment | 23 | €6,754 | €6,118 | -€636 | -9.4% |
| Furniture and vehicles | 24 | €0 | - | = | |
| Financial fixed assets | 28 | €2,515 | €2,515 | = | 0.0% |
| Current assets | 29/58 | €35,276 | €28,348 | -€6,928 | -19.6% |
| Amounts receivable within one year | 40/41 | €3,443 | €6,797 | +€3,355 | +97.4% |
| Trade receivables | 40 | €3,276 | €6,564 | +€3,288 | +100% |
| Other amounts receivable | 41 | €166 | €233 | +€67 | +40.2% |
| Cash at bank and in hand | 54/58 | €29,708 | €19,205 | -€10,504 | -35.4% |
| Deferred charges and accrued income | 490/1 | €2,125 | €2,346 | +€221 | +10.4% |
| Total equity and liabilities | 10/49 | €911,202 | €862,785 | -€48,417 | -5.3% |
| Equity | 10/15 | €130,789 | €94,706 | -€36,083 | -27.6% |
| Contributions | 10/11 | €384,000 | €384,000 | = | 0.0% |
| Capital | 10 | €384,000 | €384,000 | = | 0.0% |
| Issued capital | 100 | €384,000 | €384,000 | = | 0.0% |
| Revaluation surpluses | 12 | €33,451 | €33,451 | = | 0.0% |
| Reserves | 13 | €58,049 | €57,690 | -€358 | -0.6% |
| Non-distributable reserves | 130/1 | €38,400 | €38,400 | = | 0.0% |
| Legal reserve | 130 | €38,400 | €38,400 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,649 | €19,290 | -€358 | -1.8% |
| Profit (loss) carried forward | 14 | -€344,711 | -€380,435 | -€35,724 | -10.4% |
| Provisions and deferred taxes | 16 | €2,806 | €2,716 | -€90 | -3.2% |
| Deferred taxes | 168 | €2,806 | €2,716 | -€90 | -3.2% |
| Amounts payable | 17/49 | €777,608 | €765,362 | -€12,245 | -1.6% |
| Amounts payable after more than one year | 17 | €754,205 | €735,076 | -€19,130 | -2.5% |
| Financial debts | 170/4 | €239,262 | €220,416 | -€18,846 | -7.9% |
| Other amounts payable | 178/9 | €514,944 | €514,660 | -€284 | -0.1% |
| Amounts payable within one year | 42/48 | €23,114 | €30,208 | +€7,094 | +30.7% |
| Current portion of amounts payable after more than one year | 42 | €18,554 | €18,846 | +€292 | +1.6% |
| Trade debts | 44 | €2,244 | €7,532 | +€5,288 | +236% |
| Suppliers | 440/4 | €2,244 | €7,532 | +€5,288 | +236% |
| Taxes, remuneration and social security | 45 | €2,316 | €3,831 | +€1,515 | +65.4% |
| Taxes | 450/3 | €2,316 | €3,831 | +€1,515 | +65.4% |
| Accrued charges and deferred income | 492/3 | €288 | €78 | -€210 | -72.9% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Remuneration, social security and pensions | 62 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €49,382 | €43,468 | -€5,914 | -12.0% |
| Other operating charges | 640/8 | €2,647 | €7,512 | +€4,865 | +184% |
| Gross operating margin | 9900 | €20,096 | €20,260 | +€165 | +0.8% |
| Operating profit (loss) | 9901 | -€31,933 | -€30,720 | +€1,213 | +3.8% |
| Financial charges | 65/66B | €5,442 | €4,879 | -€564 | -10.4% |
| Recurring financial charges | 65 | €5,442 | €4,879 | -€564 | -10.4% |
| Profit (loss) for the period before taxes | 9903 | -€37,375 | -€35,598 | +€1,777 | +4.8% |
| Transfer from deferred taxes | 780 | €90 | €90 | = | 0.0% |
| Transfer to deferred taxes | 680 | €0 | - | = | |
| Income taxes | 67/77 | €559 | €574 | +€15 | +2.7% |
| Profit (loss) for the period | 9904 | -€37,844 | -€36,083 | +€1,762 | +4.7% |
| Transfer from tax-exempt reserves | 789 | €358 | €358 | = | 0.0% |
| Transfer to tax-exempt reserves | 689 | €0 | - | = | |
| Profit (loss) for the period to be appropriated | 9905 | -€37,486 | -€35,724 | +€1,762 | +4.7% |
Next steps
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Calculation and sources
Source: filed annual accounts (NBB), financial years ended 30 June 2025 and 30 June 2026. Green is a favourable move for that line, red an unfavourable one. Prepared on 2 November 2026 via checked.be.