Beleaf: 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.
Beleaf
Largest movements
- Deferred charges and accrued income +€42,746
up €42,746 (+4,053%), from €1,055 to €43,800
- Intangible fixed assets +€36,009
new in 2025: €36,009
- Tangible fixed assets +€23,510
up €23,510 (+239%), from €9,833 to €33,342
of which Plant, machinery and equipment: +€18,393
- Receivables within one year -€12,292
down €12,292 (-46.1%), from €26,669 to €14,377
of which Trade receivables: -€13,148
- Cash -€8,432
down €8,432 (-21.7%), from €38,897 to €30,465
mainly Investment in fixed assets (net) (-€69,591) and Deferred charges and accrued income (-€42,746)
- Reserves +€49,287
up €49,287 (+123%), from €40,000 to €89,287
- Debts after one year +€20,237
new in 2025: €20,237
- Current portion of long-term debt +€5,429
up €5,429 (+80.9%), from €6,710 to €12,139
- Trade debts +€4,397
up €4,397 (+74.9%), from €5,872 to €10,269
- Tax, wage and social debts +€1,688
up €1,688 (+9.1%), from €18,641 to €20,328
of which Remuneration and social security: +€9,921
- Gross operating margin +€101,044
up €101,044 (+73.7%), from €137,180 to €238,224
- Staff costs +€85,284
up €85,284 (+108%), from €79,244 to €164,528
- Depreciation +€8,554
up €8,554 (+563%), from €1,518 to €10,073
- Taxes -€2,448
down €2,448 (-16.3%), from €15,000 to €12,552
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 | €78,828 | €160,400 | +€81,572 | +103% |
| Fixed assets | 21/28 | €9,993 | €69,512 | +€59,519 | +596% |
| Intangible fixed assets | 21 | - | €36,009 | +€36,009 | |
| Tangible fixed assets | 22/27 | €9,833 | €33,342 | +€23,510 | +239% |
| Plant, machinery and equipment | 23 | €6,122 | €24,515 | +€18,393 | +300% |
| Furniture and vehicles | 24 | €3,711 | €8,827 | +€5,117 | +138% |
| Financial fixed assets | 28 | €160 | €160 | = | 0.0% |
| Current assets | 29/58 | €68,835 | €90,888 | +€22,053 | +32.0% |
| Stocks and contracts in progress | 3 | €2,214 | €2,245 | +€31 | +1.4% |
| Stocks | 30/36 | €2,214 | €2,245 | +€31 | +1.4% |
| Amounts receivable within one year | 40/41 | €26,669 | €14,377 | -€12,292 | -46.1% |
| Trade receivables | 40 | €26,126 | €12,977 | -€13,148 | -50.3% |
| Other amounts receivable | 41 | €544 | €1,400 | +€856 | +158% |
| Cash at bank and in hand | 54/58 | €38,897 | €30,465 | -€8,432 | -21.7% |
| Deferred charges and accrued income | 490/1 | €1,055 | €43,800 | +€42,746 | +4,053% |
| Total equity and liabilities | 10/49 | €78,828 | €160,400 | +€81,572 | +103% |
| Equity | 10/15 | €45,168 | €94,455 | +€49,287 | +109% |
| Contributions | 10/11 | €5,000 | €5,000 | = | 0.0% |
| Reserves | 13 | €40,000 | €89,287 | +€49,287 | +123% |
| Distributable reserves | 133 | €40,000 | €89,287 | +€49,287 | +123% |
| Profit (loss) carried forward | 14 | €168 | €168 | = | 0.0% |
| Amounts payable | 17/49 | €33,660 | €65,944 | +€32,285 | +95.9% |
| Amounts payable after more than one year | 17 | - | €20,237 | +€20,237 | |
| Financial debts | 170/4 | - | €20,237 | +€20,237 | |
| Amounts payable within one year | 42/48 | €31,222 | €42,737 | +€11,514 | +36.9% |
| Current portion of amounts payable after more than one year | 42 | €6,710 | €12,139 | +€5,429 | +80.9% |
| Trade debts | 44 | €5,872 | €10,269 | +€4,397 | +74.9% |
| Suppliers | 440/4 | €5,872 | €10,269 | +€4,397 | +74.9% |
| Taxes, remuneration and social security | 45 | €18,641 | €20,328 | +€1,688 | +9.1% |
| Taxes | 450/3 | €10,044 | €1,811 | -€8,233 | -82.0% |
| Remuneration and social security | 454/9 | €8,597 | €18,517 | +€9,921 | +115% |
| Accrued charges and deferred income | 492/3 | €2,437 | €2,971 | +€533 | +21.9% |
| Remuneration, social security and pensions | 62 | €79,244 | €164,528 | +€85,284 | +108% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €1,518 | €10,073 | +€8,554 | +563% |
| Other operating charges | 640/8 | €1,276 | €1,320 | +€44 | +3.4% |
| Gross operating margin | 9900 | €137,180 | €238,224 | +€101,044 | +73.7% |
| Operating profit (loss) | 9901 | €55,141 | €62,304 | +€7,163 | +13.0% |
| Financial income | 75/76B | €226 | €221 | -€5 | -2.1% |
| Recurring financial income | 75 | €226 | €221 | -€5 | -2.1% |
| Financial charges | 65/66B | €199 | €686 | +€486 | +244% |
| Recurring financial charges | 65 | €199 | €686 | +€486 | +244% |
| Profit (loss) for the period before taxes | 9903 | €55,168 | €61,839 | +€6,672 | +12.1% |
| Income taxes | 67/77 | €15,000 | €12,552 | -€2,448 | -16.3% |
| Profit (loss) for the period | 9904 | €40,168 | €49,287 | +€9,119 | +22.7% |
| Profit (loss) for the period to be appropriated | 9905 | €40,168 | €49,287 | +€9,119 | +22.7% |
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 14 October 2026 via checked.be.