DE LEEUWERK: 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.
What changed
DE LEEUWERK
NACE 68.203, Renting and operating of own or leased non-residential real estate, excluding land
financial year 2025 compared with 2024filed annual accounts (NBB)
Net result for the year
€1.4m
2024 · €653,899+€728,457
Equity
€2.6m
2024 · €3.2m-€604,844
Cash
€36,246
2024 · €76,389-€40,143
Balance sheet total
€4.7m
2024 · €3.9m+€709,003
Largest movements
Assets
- Current investments +€1.4m
up €1.4m (+248%), from €560,000 to €2.0m
- Tangible fixed assets -€608,174
down €608,174 (-19.2%), from €3.2m to €2.6m
of which Land and buildings: -€503,288
Equity and liabilities
- Other debts +€1.3m
up €1.3m (+207%), from €648,080 to €2.0m
- Reserves -€604,844
down €604,844 (-27.6%), from €2.2m to €1.6m
of which Non-distributable reserves: -€724,128
Income statement
- Gross operating margin +€980,023
up €980,023 (+81.1%), from €1.2m to €2.2m
- Taxes +€249,793
up €249,793 (+118%), from €211,403 to €461,196
- Other operating charges -€24,278
down €24,278 (-26.7%), from €91,055 to €66,777
- Depreciation +€23,753
up €23,753 (+9.1%), from €260,100 to €283,854
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.
Result 2024
€653,899
Gross operating margin
+€980,023
Depreciation
-€23,753
Other operating charges
+€24,278
Financial income
-€5,621
Financial charges
+€3,324
Taxes
-€249,793
Result 2025
€1.4m
raises the resultlowers the result
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.
From operations
+€3.0m
Investment
-€1.1m
Financing
-€2.0m
Cash 2024
€76,389
From operations (derived)
+€3.0m
Net result for the year
+€1.4m
Depreciation
+€283,854
Receivables within one year
+€33,396
Smaller working-capital items
-€125
Trade debts
-€25,864
Other debts
+€1.3m
Investment (derived)
-€1.1m
Investment in fixed assets (net)
+€324,320
Current investments
-€1.4m
Financing
-€2.0m
Contributions, distributions and other
-€2.0m
Cash 2025
€36,246
brings cash intakes cash out
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,941,903 | €4,650,906 | +€709,003 | +18.0% |
| Fixed assets | 21/28 | €3,173,140 | €2,564,966 | -€608,174 | -19.2% |
| Tangible fixed assets | 22/27 | €3,172,640 | €2,564,466 | -€608,174 | -19.2% |
| Land and buildings | 22 | €2,820,289 | €2,317,001 | -€503,288 | -17.8% |
| Plant, machinery and equipment | 23 | €3,800 | €1,900 | -€1,900 | -50.0% |
| Furniture and vehicles | 24 | €348,551 | €245,565 | -€102,986 | -29.5% |
| Financial fixed assets | 28 | €500 | €500 | = | 0.0% |
| Current assets | 29/58 | €768,763 | €2,085,939 | +€1.3m | +171% |
| Stocks and contracts in progress | 3 | €15,142 | €15,142 | = | 0.0% |
| Stocks | 30/36 | €15,142 | €15,142 | = | 0.0% |
| Amounts receivable within one year | 40/41 | €115,550 | €82,154 | -€33,396 | -28.9% |
| Trade receivables | 40 | €12,433 | €0 | -€12,433 | -100% |
| Other amounts receivable | 41 | €103,117 | €82,154 | -€20,963 | -20.3% |
| Current investments | 50/53 | €560,000 | €1,950,000 | +€1.4m | +248% |
| Cash at bank and in hand | 54/58 | €76,389 | €36,246 | -€40,143 | -52.6% |
| Deferred charges and accrued income | 490/1 | €1,682 | €2,398 | +€716 | +42.6% |
| Total equity and liabilities | 10/49 | €3,941,903 | €4,650,906 | +€709,003 | +18.0% |
| Equity | 10/15 | €3,245,429 | €2,640,585 | -€604,844 | -18.6% |
| Contributions | 10/11 | €1,057,376 | €1,057,376 | = | 0.0% |
| Capital | 10 | €1,057,376 | €1,057,376 | = | 0.0% |
| Issued capital | 100 | €1,057,376 | €1,057,376 | = | 0.0% |
| Reserves | 13 | €2,188,054 | €1,583,209 | -€604,844 | -27.6% |
| Non-distributable reserves | 130/1 | €829,865 | €105,738 | -€724,128 | -87.3% |
| Legal reserve | 130 | €829,865 | €105,738 | -€724,128 | -87.3% |
| Distributable reserves | 133 | €1,358,188 | €1,477,472 | +€119,284 | +8.8% |
| Profit (loss) carried forward | 14 | €0 | €0 | = | |
| Amounts payable | 17/49 | €696,474 | €2,010,321 | +€1.3m | +189% |
| Amounts payable within one year | 42/48 | €692,894 | €2,010,321 | +€1.3m | +190% |
| Trade debts | 44 | €28,393 | €2,530 | -€25,864 | -91.1% |
| Suppliers | 440/4 | €28,393 | €2,530 | -€25,864 | -91.1% |
| Advances received on contracts in progress | 46 | €16,421 | €17,904 | +€1,484 | +9.0% |
| Taxes, remuneration and social security | 45 | €0 | €2,687 | +€2,687 | |
| Taxes | 450/3 | €0 | €2,687 | +€2,687 | |
| Remuneration and social security | 454/9 | €0 | - | = | |
| Other amounts payable | 47/48 | €648,080 | €1,987,200 | +€1.3m | +207% |
| Accrued charges and deferred income | 492/3 | €3,580 | €0 | -€3,580 | -100% |
| Non-recurring operating income | 76A | €690,277 | €1,678,153 | +€987,876 | +143% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €260,100 | €283,854 | +€23,753 | +9.1% |
| Other operating charges | 640/8 | €91,055 | €66,777 | -€24,278 | -26.7% |
| Gross operating margin | 9900 | €1,208,878 | €2,188,901 | +€980,023 | +81.1% |
| Operating profit (loss) | 9901 | €857,723 | €1,838,270 | +€980,547 | +114% |
| Financial income | 75/76B | €11,222 | €5,601 | -€5,621 | -50.1% |
| Recurring financial income | 75 | €11,222 | €5,601 | -€5,621 | -50.1% |
| Financial charges | 65/66B | €3,643 | €318 | -€3,324 | -91.3% |
| Recurring financial charges | 65 | €3,643 | €318 | -€3,324 | -91.3% |
| Profit (loss) for the period before taxes | 9903 | €865,301 | €1,843,552 | +€978,250 | +113% |
| Income taxes | 67/77 | €211,403 | €461,196 | +€249,793 | +118% |
| Profit (loss) for the period | 9904 | €653,899 | €1,382,356 | +€728,457 | +111% |
| Profit (loss) for the period to be appropriated | 9905 | €653,899 | €1,382,356 | +€728,457 | +111% |
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 27 October 2026 via checked.be.