STUDIO THOMAS LEROOY: 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.
STUDIO THOMAS LEROOY
Largest movements
- Tangible fixed assets -€66,096
down €66,096 (-11.0%), from €600,544 to €534,447
of which Land and buildings: -€60,123
- Deferred charges and accrued income +€15,207
up €15,207 (+760%), from €2,000 to €17,207
- Receivables within one year -€13,477
down €13,477 (-60.8%), from €22,152 to €8,675
of which Trade receivables: -€19,952
- Cash +€7,869
up €7,869 (+10.2%), from €77,355 to €85,224
mainly Depreciation (+€68,533) and Receivables within one year (+€13,477)
- Debts after one year -€27,507
down €27,507 (-5.1%), from €538,462 to €510,956
of which Financial debts: -€42,094
- Trade debts -€16,715
down €16,715 (-84.3%), from €19,829 to €3,114
- Gross operating margin -€16,445
down €16,445 (-15.7%), from €105,007 to €88,562
- Other operating charges -€6,513
down €6,513 (-40.7%), from €16,009 to €9,496
- Taxes -€2,463
down €2,463 (-88.9%), from €2,772 to €309
- Depreciation +€1,109
up €1,109 (+1.6%), from €67,424 to €68,533
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 | €717,254 | €664,884 | -€52,370 | -7.3% |
| Fixed assets | 21/28 | €600,544 | €534,475 | -€66,069 | -11.0% |
| Tangible fixed assets | 22/27 | €600,544 | €534,447 | -€66,096 | -11.0% |
| Land and buildings | 22 | €567,387 | €507,264 | -€60,123 | -10.6% |
| Furniture and vehicles | 24 | €33,157 | €27,183 | -€5,974 | -18.0% |
| Financial fixed assets | 28 | - | €28 | +€28 | |
| Current assets | 29/58 | €116,710 | €130,409 | +€13,699 | +11.7% |
| Stocks and contracts in progress | 3 | €15,203 | €19,303 | +€4,100 | +27.0% |
| Stocks | 30/36 | €15,203 | €19,303 | +€4,100 | +27.0% |
| Amounts receivable within one year | 40/41 | €22,152 | €8,675 | -€13,477 | -60.8% |
| Trade receivables | 40 | €19,952 | €0 | -€19,952 | -100% |
| Other amounts receivable | 41 | €2,200 | €8,675 | +€6,475 | +294% |
| Cash at bank and in hand | 54/58 | €77,355 | €85,224 | +€7,869 | +10.2% |
| Deferred charges and accrued income | 490/1 | €2,000 | €17,207 | +€15,207 | +760% |
| Total equity and liabilities | 10/49 | €717,254 | €664,884 | -€52,370 | -7.3% |
| Equity | 10/15 | €106,416 | €99,468 | -€6,948 | -6.5% |
| Contributions | 10/11 | €12,500 | €12,500 | = | 0.0% |
| Reserves | 13 | €93,916 | €86,968 | -€6,948 | -7.4% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €93,916 | €86,968 | -€6,948 | -7.4% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €610,837 | €565,416 | -€45,421 | -7.4% |
| Amounts payable after more than one year | 17 | €538,462 | €510,956 | -€27,507 | -5.1% |
| Financial debts | 170/4 | €437,182 | €395,088 | -€42,094 | -9.6% |
| Other amounts payable | 178/9 | €101,281 | €115,868 | +€14,587 | +14.4% |
| Amounts payable within one year | 42/48 | €65,355 | €49,224 | -€16,131 | -24.7% |
| Current portion of amounts payable after more than one year | 42 | €41,823 | €42,094 | +€271 | +0.6% |
| Financial debts | 43 | - | €3,323 | +€3,323 | |
| Credit institutions | 430/8 | - | €3,323 | +€3,323 | |
| Trade debts | 44 | €19,829 | €3,114 | -€16,715 | -84.3% |
| Suppliers | 440/4 | €19,829 | €3,114 | -€16,715 | -84.3% |
| Taxes, remuneration and social security | 45 | €2,037 | €692 | -€1,344 | -66.0% |
| Taxes | 450/3 | €2,037 | €692 | -€1,344 | -66.0% |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €1,666 | €0 | -€1,666 | -100% |
| Accrued charges and deferred income | 492/3 | €7,020 | €5,237 | -€1,783 | -25.4% |
| Non-recurring operating income | 76A | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €67,424 | €68,533 | +€1,109 | +1.6% |
| Other operating charges | 640/8 | €16,009 | €9,496 | -€6,513 | -40.7% |
| Gross operating margin | 9900 | €105,007 | €88,562 | -€16,445 | -15.7% |
| Operating profit (loss) | 9901 | €21,574 | €10,533 | -€11,041 | -51.2% |
| Financial income | 75/76B | €0 | - | = | |
| Recurring financial income | 75 | €0 | - | = | |
| Financial charges | 65/66B | €18,091 | €17,173 | -€918 | -5.1% |
| Recurring financial charges | 65 | €18,091 | €17,173 | -€918 | -5.1% |
| Profit (loss) for the period before taxes | 9903 | €3,483 | -€6,639 | -€10,122 | |
| Income taxes | 67/77 | €2,772 | €309 | -€2,463 | -88.9% |
| Profit (loss) for the period | 9904 | €711 | -€6,948 | -€7,660 | |
| Profit (loss) for the period to be appropriated | 9905 | €711 | -€6,948 | -€7,660 |
Source: filed annual accounts (NBB), financial years ended 30 September 2024 and 30 September 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 28 October 2026 via checked.be.