LECON: 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.
LECON
Largest movements
- Current investments -€290,000
down €290,000 (-100%), from €290,000 to €0
- Cash +€112,594
up €112,594 (+768%), from €14,654 to €127,248
mainly Current investments (+€290,000) and Depreciation (+€16,292)
- Financial fixed assets +€60,000
up €60,000 (+3.0%), from €2.0m to €2.0m
- Tax, wage and social debts -€52,879
down €52,879 (-88.3%), from €59,901 to €7,022
- Reserves -€51,206
down €51,206 (-5.7%), from €903,286 to €852,079
- Gross operating margin -€29,074
down €29,074 (-116%), from -€25,067 to -€54,142
- Write-downs +€10,744
up €10,744 (+40.6%), from -€26,446 to -€15,702
- Taxes +€6,661
up €6,661 (+683%), from €975 to €7,636
- Financial charges -€3,468
down €3,468 (-97.2%), from €3,567 to €99
- Other operating charges +€844
up €844 (+62.2%), from €1,357 to €2,201
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 | €2,504,569 | €2,376,992 | -€127,577 | -5.1% |
| Fixed assets | 21/28 | €2,029,179 | €2,080,195 | +€51,016 | +2.5% |
| Tangible fixed assets | 22/27 | €42,079 | €33,095 | -€8,984 | -21.4% |
| Plant, machinery and equipment | 23 | €913 | €456 | -€457 | -50.1% |
| Furniture and vehicles | 24 | €41,166 | €32,639 | -€8,527 | -20.7% |
| Financial fixed assets | 28 | €1,987,100 | €2,047,100 | +€60,000 | +3.0% |
| Current assets | 29/58 | €475,389 | €296,796 | -€178,593 | -37.6% |
| Amounts receivable after more than one year | 29 | €125,000 | €125,000 | = | 0.0% |
| Other amounts receivable | 291 | €125,000 | €125,000 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €40,978 | €43,511 | +€2,533 | +6.2% |
| Trade receivables | 40 | €34,353 | €34,620 | +€267 | +0.8% |
| Other amounts receivable | 41 | €6,626 | €8,891 | +€2,266 | +34.2% |
| Current investments | 50/53 | €290,000 | €0 | -€290,000 | -100% |
| Cash at bank and in hand | 54/58 | €14,654 | €127,248 | +€112,594 | +768% |
| Deferred charges and accrued income | 490/1 | €4,757 | €1,037 | -€3,720 | -78.2% |
| Total equity and liabilities | 10/49 | €2,504,569 | €2,376,992 | -€127,577 | -5.1% |
| Equity | 10/15 | €2,358,286 | €2,307,079 | -€51,206 | -2.2% |
| Contributions | 10/11 | €1,455,000 | €1,455,000 | = | 0.0% |
| Reserves | 13 | €903,286 | €852,079 | -€51,206 | -5.7% |
| Distributable reserves | 133 | €903,286 | €852,079 | -€51,206 | -5.7% |
| Amounts payable | 17/49 | €146,283 | €69,912 | -€76,371 | -52.2% |
| Amounts payable within one year | 42/48 | €146,283 | €69,912 | -€76,371 | -52.2% |
| Financial debts | 43 | - | €5 | +€5 | |
| Credit institutions | 430/8 | - | €5 | +€5 | |
| Trade debts | 44 | €6,556 | €4,693 | -€1,862 | -28.4% |
| Suppliers | 440/4 | €6,556 | €4,693 | -€1,862 | -28.4% |
| Taxes, remuneration and social security | 45 | €59,901 | €7,022 | -€52,879 | -88.3% |
| Taxes | 450/3 | €59,901 | €7,022 | -€52,879 | -88.3% |
| Other amounts payable | 47/48 | €79,827 | €58,192 | -€21,635 | -27.1% |
| Non-recurring operating income | 76A | €17,500 | €2,802 | -€14,698 | -84.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €15,823 | €16,292 | +€468 | +3.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€26,446 | -€15,702 | +€10,744 | +40.6% |
| Other operating charges | 640/8 | €1,357 | €2,201 | +€844 | +62.2% |
| Gross operating margin | 9900 | -€25,067 | -€54,142 | -€29,074 | -116% |
| Operating profit (loss) | 9901 | -€15,802 | -€56,932 | -€41,131 | -260% |
| Financial income | 75/76B | €12,678 | €13,461 | +€784 | +6.2% |
| Recurring financial income | 75 | €12,678 | €13,461 | +€784 | +6.2% |
| Non-recurring financial income | 76B | €0 | - | = | |
| Financial charges | 65/66B | €3,567 | €99 | -€3,468 | -97.2% |
| Recurring financial charges | 65 | €3,567 | €99 | -€3,468 | -97.2% |
| Profit (loss) for the period before taxes | 9903 | -€6,691 | -€43,570 | -€36,879 | -551% |
| Income taxes | 67/77 | €975 | €7,636 | +€6,661 | +683% |
| Profit (loss) for the period | 9904 | -€7,666 | -€51,206 | -€43,540 | -568% |
| Profit (loss) for the period to be appropriated | 9905 | -€7,666 | -€51,206 | -€43,540 | -568% |
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 29 October 2026 via checked.be.