Dirk Leunis: 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.
Dirk Leunis
Largest movements
- Tangible fixed assets +€65,219
up €65,219 (+121%), from €53,735 to €118,954
of which Land and buildings: +€76,774
- Cash -€12,209
down €12,209 (-77.2%), from €15,821 to €3,612
mainly Investment in fixed assets (net) (-€83,207) and Net result for the year (-€36,682)
- Receivables within one year -€9,463
down €9,463 (-62.6%), from €15,121 to €5,658
of which Trade receivables: -€9,051
- Debts after one year +€51,052
new in 2025: €51,052
- Other debts +€28,627
up €28,627 (+145%), from €19,794 to €48,421
- Profit (loss) carried forward -€25,617
new in 2025: -€25,617
- Current portion of long-term debt +€13,688
up €13,688 (+4,644%), from €295 to €13,983
- Tax, wage and social debts -€11,947
down €11,947 (-98.8%), from €12,091 to €143
of which Remuneration and social security: -€11,935
- Gross operating margin -€23,692
down €23,692, from €7,053 to -€16,639
- Depreciation +€5,378
up €5,378 (+42.6%), from €12,610 to €17,989
- Financial charges +€629
up €629 (+74.4%), from €845 to €1,474
of which Financial charges: +€1,208
From the 31-12-2024 result to the 31-12-2025 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 31-12-2024 and 31-12-2025 balance sheets and the 31-12-2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 31-12-2024 | 31-12-2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €85,769 | €128,942 | +€43,173 | +50.3% |
| Fixed assets | 21/28 | €53,735 | €118,954 | +€65,219 | +121% |
| Tangible fixed assets | 22/27 | €53,735 | €118,954 | +€65,219 | +121% |
| Land and buildings | 22 | - | €76,774 | +€76,774 | |
| Plant, machinery and equipment | 23 | €7,616 | €6,140 | -€1,476 | -19.4% |
| Furniture and vehicles | 24 | €22,228 | €15,911 | -€6,316 | -28.4% |
| Other tangible fixed assets | 26 | €23,892 | €20,129 | -€3,763 | -15.8% |
| Current assets | 29/58 | €32,033 | €9,988 | -€22,045 | -68.8% |
| Amounts receivable within one year | 40/41 | €15,121 | €5,658 | -€9,463 | -62.6% |
| Trade receivables | 40 | €12,977 | €3,926 | -€9,051 | -69.7% |
| Other amounts receivable | 41 | €2,144 | €1,733 | -€411 | -19.2% |
| Cash at bank and in hand | 54/58 | €15,821 | €3,612 | -€12,209 | -77.2% |
| Deferred charges and accrued income | 490/1 | €1,092 | €718 | -€374 | -34.3% |
| Total equity and liabilities | 10/49 | €85,769 | €128,942 | +€43,173 | +50.3% |
| Equity | 10/15 | €51,867 | €15,185 | -€36,682 | -70.7% |
| Contributions | 10/11 | €20,460 | €20,460 | = | 0.0% |
| Reserves | 13 | €31,407 | €20,342 | -€11,065 | -35.2% |
| Distributable reserves | 133 | €31,407 | €20,342 | -€11,065 | -35.2% |
| Profit (loss) carried forward | 14 | - | -€25,617 | -€25,617 | |
| Amounts payable | 17/49 | €33,901 | €113,757 | +€79,856 | +236% |
| Amounts payable after more than one year | 17 | - | €51,052 | +€51,052 | |
| Financial debts | 170/4 | - | €51,052 | +€51,052 | |
| Amounts payable within one year | 42/48 | €33,901 | €62,705 | +€28,804 | +85.0% |
| Current portion of amounts payable after more than one year | 42 | €295 | €13,983 | +€13,688 | +4,644% |
| Trade debts | 44 | €1,722 | €158 | -€1,564 | -90.8% |
| Suppliers | 440/4 | €1,722 | €158 | -€1,564 | -90.8% |
| Taxes, remuneration and social security | 45 | €12,091 | €143 | -€11,947 | -98.8% |
| Taxes | 450/3 | €156 | €143 | -€12 | -7.9% |
| Remuneration and social security | 454/9 | €11,935 | - | -€11,935 | |
| Other amounts payable | 47/48 | €19,794 | €48,421 | +€28,627 | +145% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €12,610 | €17,989 | +€5,378 | +42.6% |
| Other operating charges | 640/8 | €387 | €440 | +€53 | +13.7% |
| Gross operating margin | 9900 | €7,053 | -€16,639 | -€23,692 | |
| Operating profit (loss) | 9901 | -€5,944 | -€35,068 | -€29,123 | -490% |
| Financial income | 75/76B | €1 | - | -€1 | |
| Recurring financial income | 75 | €1 | - | -€1 | |
| Financial charges | 65/66B | €845 | €1,474 | +€629 | +74.4% |
| Recurring financial charges | 65 | €192 | €1,399 | +€1,208 | +630% |
| Non-recurring financial charges | 66B | €653 | €74 | -€579 | -88.6% |
| Profit (loss) for the period before taxes | 9903 | -€6,788 | -€36,541 | -€29,753 | -438% |
| Income taxes | 67/77 | €140 | €141 | +€1 | +1.0% |
| Profit (loss) for the period | 9904 | -€6,928 | -€36,682 | -€29,754 | -429% |
| Profit (loss) for the period to be appropriated | 9905 | -€6,928 | -€36,682 | -€29,754 | -429% |
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 28 October 2026 via checked.be.