DE LEENHEER: 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.
DE LEENHEER
Largest movements
- Stocks and contracts -€707,169
down €707,169 (-82.2%), from €859,781 to €152,613
- Cash +€277,007
up €277,007 (+1,480%), from €18,716 to €295,723
mainly Stocks and contracts (+€707,169) and Accrued charges and deferred income (+€265,000)
- Deferred charges and accrued income +€246,965
up €246,965 (+4,539%), from €5,441 to €252,405
- Tangible fixed assets +€217,926
up €217,926 (+33.7%), from €646,164 to €864,090
of which Land and buildings: +€210,234
- Receivables within one year -€124,315
down €124,315 (-26.2%), from €474,937 to €350,621
of which Trade receivables: -€161,664
- Short-term financial debts -€546,504
down €546,504 (-99.7%), from €548,000 to €1,496
- Accrued charges and deferred income +€265,000
new in 2025: €265,000
- Reserves +€159,409
up €159,409 (+27.8%), from €572,992 to €732,401
of which Distributable reserves: +€159,409
- Trade debts -€148,899
down €148,899 (-58.7%), from €253,715 to €104,817
- Debts after one year +€143,233
up €143,233 (+61.3%), from €233,588 to €376,821
- Gross operating margin +€101,861
up €101,861 (+35.4%), from €287,672 to €389,533
- Taxes +€27,499
up €27,499 (+57.7%), from €47,628 to €75,126
- Financial charges +€8,482
up €8,482 (+28.7%), from €29,605 to €38,087
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 | €2,140,040 | €1,990,771 | -€149,269 | -7.0% |
| Fixed assets | 21/28 | €646,164 | €864,090 | +€217,926 | +33.7% |
| Tangible fixed assets | 22/27 | €646,164 | €864,090 | +€217,926 | +33.7% |
| Land and buildings | 22 | €626,284 | €836,518 | +€210,234 | +33.6% |
| Plant, machinery and equipment | 23 | €19,235 | €27,392 | +€8,157 | +42.4% |
| Furniture and vehicles | 24 | €645 | €180 | -€465 | -72.1% |
| Current assets | 29/58 | €1,493,875 | €1,126,681 | -€367,194 | -24.6% |
| Stocks and contracts in progress | 3 | €859,781 | €152,613 | -€707,169 | -82.2% |
| Stocks | 30/36 | €859,781 | €152,613 | -€707,169 | -82.2% |
| Amounts receivable within one year | 40/41 | €474,937 | €350,621 | -€124,315 | -26.2% |
| Trade receivables | 40 | €353,255 | €191,591 | -€161,664 | -45.8% |
| Other amounts receivable | 41 | €121,682 | €159,030 | +€37,348 | +30.7% |
| Current investments | 50/53 | €135,000 | €75,318 | -€59,682 | -44.2% |
| Cash at bank and in hand | 54/58 | €18,716 | €295,723 | +€277,007 | +1,480% |
| Deferred charges and accrued income | 490/1 | €5,441 | €252,405 | +€246,965 | +4,539% |
| Total equity and liabilities | 10/49 | €2,140,040 | €1,990,771 | -€149,269 | -7.0% |
| Equity | 10/15 | €934,992 | €1,094,401 | +€159,409 | +17.0% |
| Contributions | 10/11 | €362,000 | €362,000 | = | 0.0% |
| Capital | 10 | €362,000 | €362,000 | = | 0.0% |
| Issued capital | 100 | €362,000 | €362,000 | = | 0.0% |
| Reserves | 13 | €572,992 | €732,401 | +€159,409 | +27.8% |
| Non-distributable reserves | 130/1 | €36,247 | €36,247 | = | 0.0% |
| Legal reserve | 130 | €36,200 | €36,200 | = | 0.0% |
| Reserves not available under the articles | 1311 | €47 | €47 | = | 0.0% |
| Tax-exempt reserves | 132 | €19,886 | €19,886 | = | 0.0% |
| Distributable reserves | 133 | €516,859 | €676,268 | +€159,409 | +30.8% |
| Provisions and deferred taxes | 16 | €8,284 | €8,284 | = | 0.0% |
| Provisions for liabilities and charges | 160/5 | €8,284 | €8,284 | = | 0.0% |
| Major repairs and maintenance | 162 | €8,284 | €8,284 | = | 0.0% |
| Amounts payable | 17/49 | €1,196,763 | €888,086 | -€308,677 | -25.8% |
| Amounts payable after more than one year | 17 | €233,588 | €376,821 | +€143,233 | +61.3% |
| Financial debts | 170/4 | €233,588 | €376,821 | +€143,233 | +61.3% |
| Amounts payable within one year | 42/48 | €963,176 | €246,265 | -€716,911 | -74.4% |
| Current portion of amounts payable after more than one year | 42 | €33,971 | €52,198 | +€18,226 | +53.7% |
| Financial debts | 43 | €548,000 | €1,496 | -€546,504 | -99.7% |
| Credit institutions | 430/8 | €548,000 | €1,496 | -€546,504 | -99.7% |
| Trade debts | 44 | €253,715 | €104,817 | -€148,899 | -58.7% |
| Suppliers | 440/4 | €253,715 | €104,817 | -€148,899 | -58.7% |
| Taxes, remuneration and social security | 45 | €102,489 | €87,754 | -€14,735 | -14.4% |
| Taxes | 450/3 | €102,489 | €87,754 | -€14,735 | -14.4% |
| Other amounts payable | 47/48 | €25,000 | - | -€25,000 | |
| Accrued charges and deferred income | 492/3 | - | €265,000 | +€265,000 | |
| Remuneration, social security and pensions | 62 | €88,155 | €91,816 | +€3,660 | +4.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,303 | €17,826 | -€477 | -2.6% |
| Other operating charges | 640/8 | €6,331 | €7,747 | +€1,416 | +22.4% |
| Gross operating margin | 9900 | €287,672 | €389,533 | +€101,861 | +35.4% |
| Operating profit (loss) | 9901 | €174,883 | €272,145 | +€97,262 | +55.6% |
| Financial income | 75/76B | €395 | €478 | +€82 | +20.8% |
| Recurring financial income | 75 | €395 | €478 | +€82 | +20.8% |
| Financial charges | 65/66B | €29,605 | €38,087 | +€8,482 | +28.7% |
| Recurring financial charges | 65 | €29,605 | €38,087 | +€8,482 | +28.7% |
| Profit (loss) for the period before taxes | 9903 | €145,673 | €234,535 | +€88,862 | +61.0% |
| Income taxes | 67/77 | €47,628 | €75,126 | +€27,499 | +57.7% |
| Profit (loss) for the period | 9904 | €98,045 | €159,409 | +€61,364 | +62.6% |
| Profit (loss) for the period to be appropriated | 9905 | €98,045 | €159,409 | +€61,364 | +62.6% |
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 25 October 2026 via checked.be.