WERNER LEDUC CONSULTANCY: 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.
WERNER LEDUC CONSULTANCY
Largest movements
- Current investments +€49,501
new in 2025: €49,501
- Cash -€27,944
down €27,944 (-40.6%), from €68,827 to €40,883
mainly Current investments (-€49,501) and Receivables within one year (-€22,547)
- Receivables within one year +€22,547
up €22,547 (+152%), from €14,817 to €37,363
of which Trade receivables: +€18,295
- Tangible fixed assets +€3,979
up €3,979 (+109%), from €3,640 to €7,619
of which Other tangible fixed assets: +€2,871
- Reserves +€46,000
up €46,000 (+56.4%), from €81,500 to €127,500
- Tax, wage and social debts +€3,785
up €3,785 (+165%), from €2,290 to €6,075
- Gross operating margin +€21,754
up €21,754 (+53.1%), from €40,936 to €62,690
- Taxes +€1,824
up €1,824 (+17.1%), from €10,666 to €12,490
- Financial charges -€879
down €879 (-33.6%), from €2,618 to €1,738
- Depreciation +€848
up €848 (+70.8%), from €1,197 to €2,046
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 | €89,845 | €137,859 | +€48,014 | +53.4% |
| Fixed assets | 21/28 | €3,640 | €7,619 | +€3,979 | +109% |
| Tangible fixed assets | 22/27 | €3,640 | €7,619 | +€3,979 | +109% |
| Plant, machinery and equipment | 23 | €1,033 | €676 | -€357 | -34.6% |
| Furniture and vehicles | 24 | €2,607 | €4,072 | +€1,465 | +56.2% |
| Other tangible fixed assets | 26 | - | €2,871 | +€2,871 | |
| Current assets | 29/58 | €86,205 | €130,240 | +€44,035 | +51.1% |
| Amounts receivable within one year | 40/41 | €14,817 | €37,363 | +€22,547 | +152% |
| Trade receivables | 40 | €9,183 | €27,478 | +€18,295 | +199% |
| Other amounts receivable | 41 | €5,634 | €9,885 | +€4,251 | +75.5% |
| Current investments | 50/53 | - | €49,501 | +€49,501 | |
| Cash at bank and in hand | 54/58 | €68,827 | €40,883 | -€27,944 | -40.6% |
| Deferred charges and accrued income | 490/1 | €2,561 | €2,493 | -€68 | -2.7% |
| Total equity and liabilities | 10/49 | €89,845 | €137,859 | +€48,014 | +53.4% |
| Equity | 10/15 | €84,981 | €130,576 | +€45,594 | +53.7% |
| Contributions | 10/11 | €3,000 | €3,000 | = | 0.0% |
| Reserves | 13 | €81,500 | €127,500 | +€46,000 | +56.4% |
| Distributable reserves | 133 | €81,500 | €127,500 | +€46,000 | +56.4% |
| Profit (loss) carried forward | 14 | €481 | €76 | -€406 | -84.3% |
| Amounts payable | 17/49 | €4,864 | €7,284 | +€2,419 | +49.7% |
| Amounts payable within one year | 42/48 | €4,864 | €7,284 | +€2,419 | +49.7% |
| Financial debts | 43 | €200 | €83 | -€117 | -58.6% |
| Credit institutions | 430/8 | €200 | €83 | -€117 | -58.6% |
| Trade debts | 44 | €2,374 | €1,126 | -€1,248 | -52.6% |
| Suppliers | 440/4 | €2,374 | €1,126 | -€1,248 | -52.6% |
| Taxes, remuneration and social security | 45 | €2,290 | €6,075 | +€3,785 | +165% |
| Taxes | 450/3 | €2,290 | €6,075 | +€3,785 | +165% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,197 | €2,046 | +€848 | +70.8% |
| Other operating charges | 640/8 | €825 | €1,211 | +€386 | +46.7% |
| Gross operating margin | 9900 | €40,936 | €62,690 | +€21,754 | +53.1% |
| Operating profit (loss) | 9901 | €38,914 | €59,434 | +€20,520 | +52.7% |
| Financial income | 75/76B | €52 | €389 | +€336 | +643% |
| Recurring financial income | 75 | €52 | €389 | +€336 | +643% |
| Financial charges | 65/66B | €2,618 | €1,738 | -€879 | -33.6% |
| Recurring financial charges | 65 | €2,618 | €1,738 | -€879 | -33.6% |
| Profit (loss) for the period before taxes | 9903 | €36,349 | €58,085 | +€21,736 | +59.8% |
| Income taxes | 67/77 | €10,666 | €12,490 | +€1,824 | +17.1% |
| Profit (loss) for the period | 9904 | €25,683 | €45,594 | +€19,912 | +77.5% |
| Profit (loss) for the period to be appropriated | 9905 | €25,683 | €45,594 | +€19,912 | +77.5% |
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 16 October 2026 via checked.be.