e-LEAD: what changed
Two fiscal 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.
e-LEAD
Largest movements
- Tangible fixed assets -€30,044
down €30,044 (-6.3%), from €473,656 to €443,612
of which Land and buildings: -€31,389
- Cash +€16,983
up €16,983 (+13.0%), from €130,329 to €147,313
mainly Net result for the year (+€73,027) and Depreciation (+€35,463)
- Debts after one year -€32,890
down €32,890 (-17.2%), from €190,691 to €157,801
- Reserves +€20,266
up €20,266 (+5.5%), from €365,185 to €385,451
- Tax, wage and social debts +€7,534
up €7,534 (+256.9%), from €2,933 to €10,467
- Gross operating margin +€2,382
up €2,382 (+1.7%), from €142,683 to €145,065
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.
Cash bridge derived
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 | €618,801 | €611,564 | -€7,237 | -1.2% |
| Fixed assets | 21/28 | €473,656 | €443,612 | -€30,044 | -6.3% |
| Tangible fixed assets | 22/27 | €473,656 | €443,612 | -€30,044 | -6.3% |
| Land and buildings | 22 | €473,112 | €441,723 | -€31,389 | -6.6% |
| Plant, machinery and equipment | 23 | €544 | €1,008 | +€463 | +85.1% |
| Furniture and vehicles | 24 | - | €882 | +€882 | |
| Current assets | 29/58 | €145,145 | €167,951 | +€22,807 | +15.7% |
| Amounts receivable within one year | 40/41 | €13,694 | €19,594 | +€5,900 | +43.1% |
| Trade receivables | 40 | €12,656 | €19,594 | +€6,938 | +54.8% |
| Other amounts receivable | 41 | €1,038 | - | -€1,038 | |
| Cash at bank and in hand | 54/58 | €130,329 | €147,313 | +€16,983 | +13.0% |
| Deferred charges and accrued income | 490/1 | €1,122 | €1,045 | -€76 | -6.8% |
| Total equity and liabilities | 10/49 | €618,801 | €611,564 | -€7,237 | -1.2% |
| Equity | 10/15 | €383,785 | €404,051 | +€20,266 | +5.3% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €365,185 | €385,451 | +€20,266 | +5.5% |
| Distributable reserves | 133 | €365,185 | €385,451 | +€20,266 | +5.5% |
| Amounts payable | 17/49 | €235,015 | €207,513 | -€27,503 | -11.7% |
| Amounts payable after more than one year | 17 | €190,691 | €157,801 | -€32,890 | -17.2% |
| Financial debts | 170/4 | €190,691 | €157,801 | -€32,890 | -17.2% |
| Amounts payable within one year | 42/48 | €43,139 | €47,054 | +€3,915 | +9.1% |
| Current portion of amounts payable after more than one year | 42 | €36,700 | €32,890 | -€3,810 | -10.4% |
| Trade debts | 44 | €3,506 | €3,697 | +€191 | +5.5% |
| Suppliers | 440/4 | €3,506 | €3,697 | +€191 | +5.5% |
| Taxes, remuneration and social security | 45 | €2,933 | €10,467 | +€7,534 | +256.9% |
| Taxes | 450/3 | €2,933 | €10,467 | +€7,534 | +256.9% |
| Accrued charges and deferred income | 492/3 | €1,185 | €2,658 | +€1,472 | +124.2% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €35,038 | €35,463 | +€425 | +1.2% |
| Other operating charges | 640/8 | €4,810 | €4,772 | -€38 | -0.8% |
| Gross operating margin | 9900 | €142,683 | €145,065 | +€2,382 | +1.7% |
| Operating profit (loss) | 9901 | €102,835 | €104,830 | +€1,995 | +1.9% |
| Financial income | 75/76B | €652 | €540 | -€112 | -17.2% |
| Recurring financial income | 75 | €652 | €540 | -€112 | -17.2% |
| Financial charges | 65/66B | €4,316 | €3,773 | -€543 | -12.6% |
| Recurring financial charges | 65 | €4,316 | €3,773 | -€543 | -12.6% |
| Profit (loss) for the period before taxes | 9903 | €99,171 | €101,597 | +€2,426 | +2.4% |
| Income taxes | 67/77 | €27,658 | €28,570 | +€913 | +3.3% |
| Profit (loss) for the period | 9904 | €71,514 | €73,027 | +€1,513 | +2.1% |
| Profit (loss) for the period to be appropriated | 9905 | €71,514 | €73,027 | +€1,513 | +2.1% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 6 October 2026 via checked.be.