ANGELO LEOTARD: 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.
ANGELO LEOTARD
Largest movements
- Intangible fixed assets -€20,000
down €20,000 (-12.5%), from €160,000 to €140,000
- Receivables within one year -€6,976
down €6,976 (-65.5%), from €10,645 to €3,669
- Cash -€5,703
down €5,703 (-11.0%), from €52,065 to €46,362
mainly Contributions, distributions and other (-€72,511) and Debts after one year (-€31,924)
- Debts after one year -€31,924
down €31,924 (-23.6%), from €135,390 to €103,466
- Other debts -€6,439
down €6,439 (-24.7%), from €26,028 to €19,589
- Profit (loss) carried forward +€6,067
up €6,067 (+8.4%), from €72,511 to €78,578
- Current portion of long-term debt +€4,059
up €4,059 (+13.3%), from €30,458 to €34,517
- Trade debts -€3,770
down €3,770 (-99.0%), from €3,808 to €38
- Gross operating margin +€8,409
up €8,409 (+6.8%), from €122,786 to €131,195
- Taxes +€1,976
up €1,976 (+10.2%), from €19,355 to €21,331
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 | €277,038 | €242,721 | -€34,317 | -12.4% |
| Fixed assets | 21/28 | €169,328 | €146,691 | -€22,637 | -13.4% |
| Intangible fixed assets | 21 | €160,000 | €140,000 | -€20,000 | -12.5% |
| Tangible fixed assets | 22/27 | €9,328 | €6,691 | -€2,637 | -28.3% |
| Furniture and vehicles | 24 | €9,328 | €6,691 | -€2,637 | -28.3% |
| Current assets | 29/58 | €107,710 | €96,031 | -€11,679 | -10.8% |
| Amounts receivable within one year | 40/41 | €10,645 | €3,669 | -€6,976 | -65.5% |
| Other amounts receivable | 41 | €10,645 | €3,669 | -€6,976 | -65.5% |
| Cash at bank and in hand | 54/58 | €52,065 | €46,362 | -€5,703 | -11.0% |
| Deferred charges and accrued income | 490/1 | €45,000 | €46,000 | +€1,000 | +2.2% |
| Total equity and liabilities | 10/49 | €277,038 | €242,721 | -€34,317 | -12.4% |
| Equity | 10/15 | €78,511 | €84,578 | +€6,067 | +7.7% |
| Contributions | 10/11 | €6,000 | €6,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €72,511 | €78,578 | +€6,067 | +8.4% |
| Amounts payable | 17/49 | €198,527 | €158,144 | -€40,384 | -20.3% |
| Amounts payable after more than one year | 17 | €135,390 | €103,466 | -€31,924 | -23.6% |
| Financial debts | 170/4 | €135,390 | €103,466 | -€31,924 | -23.6% |
| Amounts payable within one year | 42/48 | €62,968 | €54,678 | -€8,290 | -13.2% |
| Current portion of amounts payable after more than one year | 42 | €30,458 | €34,517 | +€4,059 | +13.3% |
| Trade debts | 44 | €3,808 | €38 | -€3,770 | -99.0% |
| Suppliers | 440/4 | €3,808 | €38 | -€3,770 | -99.0% |
| Taxes, remuneration and social security | 45 | €2,674 | €534 | -€2,140 | -80.0% |
| Taxes | 450/3 | - | €534 | +€534 | |
| Remuneration and social security | 454/9 | €2,674 | - | -€2,674 | |
| Other amounts payable | 47/48 | €26,028 | €19,589 | -€6,439 | -24.7% |
| Accrued charges and deferred income | 492/3 | €170 | - | -€170 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €22,637 | €22,637 | = | 0.0% |
| Gross operating margin | 9900 | €122,786 | €131,195 | +€8,409 | +6.8% |
| Operating profit (loss) | 9901 | €100,148 | €108,558 | +€8,409 | +8.4% |
| Financial charges | 65/66B | €8,282 | €8,649 | +€366 | +4.4% |
| Recurring financial charges | 65 | €8,282 | €8,649 | +€366 | +4.4% |
| Profit (loss) for the period before taxes | 9903 | €91,866 | €99,909 | +€8,043 | +8.8% |
| Income taxes | 67/77 | €19,355 | €21,331 | +€1,976 | +10.2% |
| Profit (loss) for the period | 9904 | €72,511 | €78,578 | +€6,067 | +8.4% |
| Profit (loss) for the period to be appropriated | 9905 | €72,511 | €78,578 | +€6,067 | +8.4% |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 18 October 2026 via checked.be.