D-LEASE: 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.
D-LEASE
Largest movements
- Financial fixed assets +€108,560
new in 2025: €108,560
- Tangible fixed assets -€79,345
down €79,345 (-4.9%), from €1.6m to €1.5m
- Cash -€30,532
down €30,532 (-15.7%), from €194,684 to €164,152
mainly Investment in fixed assets (net) (-€108,560) and Debts after one year (-€88,630)
- Debts after one year -€88,630
down €88,630 (-5.8%), from €1.5m to €1.4m
- Profit (loss) carried forward +€74,692
up €74,692 (+98.6%), from €75,760 to €150,452
- Financial charges +€3,817
up €3,817 (+5.7%), from €66,770 to €70,587
- Gross operating margin +€2,675
up €2,675 (+1.1%), from €240,411 to €243,086
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 | €1,820,998 | €1,815,435 | -€5,564 | -0.3% |
| Fixed assets | 21/28 | €1,617,472 | €1,646,687 | +€29,215 | +1.8% |
| Tangible fixed assets | 22/27 | €1,617,472 | €1,538,127 | -€79,345 | -4.9% |
| Other tangible fixed assets | 26 | €1,617,472 | €1,538,127 | -€79,345 | -4.9% |
| Financial fixed assets | 28 | - | €108,560 | +€108,560 | |
| Current assets | 29/58 | €203,527 | €168,748 | -€34,779 | -17.1% |
| Amounts receivable within one year | 40/41 | €8,842 | €4,150 | -€4,693 | -53.1% |
| Trade receivables | 40 | - | €69 | +€69 | |
| Other amounts receivable | 41 | €8,842 | €4,081 | -€4,761 | -53.8% |
| Cash at bank and in hand | 54/58 | €194,684 | €164,152 | -€30,532 | -15.7% |
| Deferred charges and accrued income | 490/1 | - | €446 | +€446 | |
| Total equity and liabilities | 10/49 | €1,820,998 | €1,815,435 | -€5,564 | -0.3% |
| Equity | 10/15 | €175,760 | €250,452 | +€74,692 | +42.5% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | €75,760 | €150,452 | +€74,692 | +98.6% |
| Amounts payable | 17/49 | €1,645,239 | €1,564,983 | -€80,256 | -4.9% |
| Amounts payable after more than one year | 17 | €1,531,959 | €1,443,328 | -€88,630 | -5.8% |
| Financial debts | 170/4 | €1,531,959 | €1,443,328 | -€88,630 | -5.8% |
| Amounts payable within one year | 42/48 | €113,193 | €121,565 | +€8,373 | +7.4% |
| Current portion of amounts payable after more than one year | 42 | €91,694 | €95,841 | +€4,147 | +4.5% |
| Trade debts | 44 | €3,250 | €7,835 | +€4,585 | +141% |
| Suppliers | 440/4 | €3,250 | €7,835 | +€4,585 | +141% |
| Taxes, remuneration and social security | 45 | €637 | €158 | -€480 | -75.2% |
| Taxes | 450/3 | €637 | €158 | -€480 | -75.2% |
| Other amounts payable | 47/48 | €17,612 | €17,732 | +€120 | +0.7% |
| Accrued charges and deferred income | 492/3 | €88 | €89 | +€2 | +1.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €78,503 | €79,345 | +€842 | +1.1% |
| Other operating charges | 640/8 | €637 | €302 | -€335 | -52.6% |
| Gross operating margin | 9900 | €240,411 | €243,086 | +€2,675 | +1.1% |
| Operating profit (loss) | 9901 | €161,271 | €163,440 | +€2,169 | +1.3% |
| Financial income | 75/76B | €307 | €541 | +€234 | +76.4% |
| Recurring financial income | 75 | €307 | €541 | +€234 | +76.4% |
| Financial charges | 65/66B | €66,770 | €70,587 | +€3,817 | +5.7% |
| Recurring financial charges | 65 | €66,770 | €70,587 | +€3,817 | +5.7% |
| Profit (loss) for the period before taxes | 9903 | €94,808 | €93,394 | -€1,414 | -1.5% |
| Income taxes | 67/77 | €19,048 | €18,701 | -€347 | -1.8% |
| Profit (loss) for the period | 9904 | €75,760 | €74,692 | -€1,067 | -1.4% |
| Profit (loss) for the period to be appropriated | 9905 | €75,760 | €74,692 | -€1,067 | -1.4% |
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 21 October 2026 via checked.be.